Central Bank Selling Gold Bars for Investment and Get More Profit

Central Bank Selling Gold Bars for Investment and Get More Profit

Iraqi Dinar 123 News:– On Monday, The Iraqi Parliamentary Finance Committee member Ahmed Al Jubouri issued a statement that Iraqi Central Bank has made a plan to sell gold bars and it is considered as a part of improvement in investment to get more profit for the country. He said in his press statement that Central Bank of Iraq has made a plan to generate more revenue by selling gold bars which is a part of investment. It would not violate or disturb the Iraqi state reserves, but it will be used to advance fluidity. Point to be noted that fluctuation in the gold oil prices is linked to the global oil prices as increase in the oil price would decrease the gold prices.

Currently, the gold price at high and selling gold would increase state profit and it would provide fluidity. He further explained that the sale of Iraqi gold bars would not terrorize the economy of the country or it will not reflect a negative impact of Iraqi foreign cash reserves. He stressed that Iraq need more than 45 billion U.S dollars to cover its currency requirements. The Iraqi Central Bank issued a statement last Saturday that the contribution of gold bar sales for Iraqi people would support and improve the financial fluidity. The governor of the Iraqi Central Bank also said in his press statement that Iraqi Central Bank would provide fluidity support for the country and to motivate Iraqi citizens for other saving options.

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