Economic Expert: Gold quantity, bought by the central bank is small, currency stability needs more

25/03/2014 10:05:00

BAGHDAD / NINA / The economic expert, Basim Jamil called on the central bank to expand the process of buying gold to stabilize the Iraqi currency against foreign currencies.

He told the National Iraqi News Agency / NINA/: "Iraq needs to boost its reserves to move away from economic shocks. And the quantity bought by the central bank of gold recently is a small amount compared to other countries."

He added: "The diversification of the currencies' basket and Iraqi reserve is a good and useful step, but it must be more broadly."

The Iraqi Central Bank announced yesterday that it bought / 36 tons / of gold to stabilize the exchange rate of the Iraqi dinar against foreign currencies. / End


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