Central Bank: increase gold reserves to support

Central Bank: increase gold reserves to support

03/04/2015 08:38 GMT

Central Bank - increase gold reserves to supportFollow-up – and babysit – Central Bank of Iraq, declares, he has a tendency to increase gold reserves in the basket, stressing that he shall move the basket almost daily.
The governor of the bank on the Keywords, in a statement, and received news agency public opinion (and babysit), on Wednesday, said that “the Central Bank tendencies to increase the proportion of gold in reserves Bank of hard currency basket”, adding that “the procurement issue moving and subject to constant scrutiny.”

He added that the relationship “the Bank shall move the basket almost daily to stand on currencies and interest rates and the bond market and stock prices and the value of gold.”

He announced the World Gold Council, in January 2015 that Iraq was ranked 37 globally and fifth Arab gold reserves, which is owned by Iraq totaled 89.5 tons of gold.

The central bank decided in January 23, 2014 SEC variety of alloys of pure gold weights ranging between (50 g and 1000 g) to sell to dealers in gold, investors and segments of society wishing to do so in Iraqi dinars.

Announced the Governor of the Central Bank of Iraq on the Keywords, on Tuesday, for the development of new mechanisms for the auction currency, noting that a lot of hard currency being smuggled out of the country as well as the processes used in corruption.