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Tag: Gold Reserves

Iraq maintains its 5th position in Arab countries with largest gold reserves

Iraq maintains its 5th position in Arab countries with largest gold reserves

The World Gold Council has announced that Iraq maintained its global position with the largest gold reserves. It represents 7% of the rest of its currencies. The Council said in a statistical published on its website. It says, “Iraq has maintained its fifth position in the Arab world, which came after each of Saudi Arabia, Lebanon, Algeria, and Libya. It indicates the last purchase of Iraq gold was in September from 2018 and by 6.5 tons”. The council also said…

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Iraq ranked 5th in Arab Gold Reserves and 37th in the World

Iraq ranked 5th in Arab Gold Reserves and 37th in the World

On Tuesday, the Central Bank of Iraq announced that the growth of foreign reserves increased by 32.6% in 2018. The CBI also announced the arrival of 96 tons Iraqi gold reserves. A foreign reserves report has indicated positive performance in 2018 compared to 2017 because foreign reserves rose by 32.6%. It shows the positive difference between the U.S dollar purchases from the Ministry of Finance and sales through a sales window foreign currency. The profits realized from the proceeds of…

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Iraqi Gold Reserves have increased significantly: World Gold Council

Iraqi Gold Reserves have increased significantly: World Gold Council

The latest report of the World Gold Council showed central banks in the world bought around 651.5 tons of gold in 2018. The report pointed out that Russia and Turkey had raised their reserves at the expense of the dollar. Some countries including Iraq, India, China, and Kazakhstan were among the top gold buyers during 2018. The data shows Iraq increased its reserves during last year by 6.45 tons and brought its total gold holdings to 96.3 tons. The report…

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CBI Reserves Reached at $55 Billion Cash & 80 Tons Gold Reserves: Finance Committee

CBI Reserves Reached at $55 Billion Cash & 80 Tons Gold Reserves: Finance Committee

Iraqi Dinar 123 News:– On Thursday, a member of the Iraqi Parliamentary Finance Committee Ahmed Serhan issued a press statement that current Iraqi foreign cash reserves are estimated at 55 billion U.S dollars and Iraqi gold reserves are estimated at 80 tons. He added in his press interview that total Iraqi foreign currency reserves and gold reserves are decreasing significantly every year, especially the U.S dollar currency reserves. He stressed that Iraqi Central Bank should implement perfect monetary policies in…

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Iraq Cash Reserves Declined But Gold Reserves Are Increasing

Iraq Cash Reserves Declined But Gold Reserves Are Increasing

Iraqi Dinar 123 News:– Iraqi Parliamentary Finance Committee has revealed that Iraqi reserves are amounted at 59 billion U.S dollars and more than 90 tons of Gold. Finance Committee also stressed that Iraqi reserves facing decline every year and the main cause of this decline is because the continuous downfall in the global oil prices, which is now at 40 U.S dollars per barrel. Haji Ahmed Rashid also added that Iraqi reserves are continuously declining every year, especially in the…

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Gold has considered as much safer investment

Gold has considered as much safer investment

Iraqi Dinar 123 News:-  On Friday, the gold price has reached at the highest level in last four months, possibly recording towards the best weekly performance in the last ten months. The investors have found a most perfect haven to secure them from the changes in the market after the sudden desertion. Yesterday’s fluctuation in the global market attracted most of the investors to invest their money in gold. The gold investment also considered as an alternative investment for most…

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New Gold Reserves Expected to Cast a Good Impact on Iraq’s Currency

New Gold Reserves Expected to Cast a Good Impact on Iraq’s Currency

Iraqi Dinar 123 News:– Muhammad Saleh, the economic adviser to the Prime Minister said that the central bank of Iraq bought 36 tons of pure gold recently. He also added that this is a handsome strength of the gold reserves for Iraq and it would be a much better sign in the way of strengthen the Iraqi dinar currency, it will also control the risk ratio in the Iraqi economy. Iraqi gold reserves will provide much better confidence in improving…

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Iraq is at 37th Place in Worldwide Hard-Cash

Iraq is at 37th Place in Worldwide Hard-Cash

Iraqi Dinar 123 News:– On Sunday, the World Gold Council announced that Saudi Arabia ranked on first and Iraq has ranked at fifth in Gold reserve in the Arab world and the United States ranked on first and Iraq ranked at 37th position globally. According to a World Council report, after the Saudi Arabia, Lebanon, Algeria and Libya, the Iraq has placed on fifth rank. He also added that the gold value was at 4.9% as hard currency of Iraq….

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