Central: Our foreign reserves grew 7% in 2017 and distributed to eight countries

Central: Our foreign reserves grew 7% in 2017 and distributed to eight countries

Posted, 21 Mar 2018 13:10:23

Central - Our foreign reserves grew 7 percent in 2017 and distributed to eight countriesThe central bank announced Tuesday that foreign reserves grew 7% in 2017, confirming that these reserves are spread across eight countries.

The bank said in a statement that “the annual report data showed the growth of foreign reserves in 2017 by 7% compared to 2016,” noting that “US dollar investment portfolios also grew by 38% as a result of the trend to invest in the dollar in bonds and treasury bills and deposits.”

“The investment portfolio in gold also witnessed a positive growth of 15 per cent in 2017, which caused its 2017 equal value compared to 2016, and the bank’s investment in sukuk Islamic bonds grew by 50 per cent,” the bank said.

“The reserve department takes into account the importance of the geographic distribution of investments,” he said. “These reserves are distributed among eight countries, the United States, Switzerland, France and Britain.”

On December 26, 2017, Iraqi central bank governor Ali al-Alak announced that the bank’s foreign exchange reserves were $ 48 billion.

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