The Central Bank of Iraq plans to increase its gold reserves and diversify its reserve currency basket.
The Central Bank of Iraq plans to increase its gold reserves and diversify its reserve currency basket.
11-25-2025
The Central Bank of Iraq announced on Tuesday a plan to bolster Iraq’s gold reserves while preserving their value and diversifying the reserve basket as part of its monetary policy. Alaa al – Fahd, a member of the bank’s media office, explained in a statement to the official news agency, which was monitored by Al-Maalomah News Agency, that “Iraq ranks sixth in the Arab world in gold reserves, which amount to more than 160 tons,” emphasizing that the bank is striving to increase them as much as possible.
He pointed out that “the Central Bank is working to diversify reserves to include foreign currencies such as the Chinese yuan, the Turkish lira, and the Emirati dinar, in addition to gold, with the aim of supporting foreign trade and stabilizing the national currency.”
He clarified that “the bank is responsible for monetary policy, price stability, the exchange rate, and inflation rates,” noting that “indicators in these areas are currently good, while financial liquidity is the responsibility of the Ministry of Finance.”
Al-Fahd affirmed that “the bank’s policy is based on investing reserves in a way that preserves their real value, while working on financial and banking reforms to enhance monetary stability.”
almaalomah.me
