Gold is safer than other currencies in Iraq.
Gold is safer than other currencies in Iraq.
2025-12-28 02:26
Shafaq News – Baghdad
The Prime Minister’s financial advisor, Mazhar Muhammad Saleh, confirmed on Sunday that gold is considered safer than other currencies within the reserve basket.
Saleh told Shafaq News Agency that “diversification in foreign reserves is based on distributing assets among different international currencies and gold, according to approved international standards that are linked to the structure and areas of global trade.”
The government advisor added that gold remains a safe haven within the basket of reserves, as a safety valve that limits the risks of fluctuations in the value of countries’ reserve currencies.
He pointed out that the default limit for hedging with gold is estimated at about 9% of total reserves, with the possibility of exceeding this percentage sometimes depending on the size of the reserves, the nature of the diversification structure, and the overall level of risk.
Iraq has a gold reserve of about 171 tons within its basket of foreign currency reserves and ranks 29th globally out of 100 countries listed in the World Gold Council with the most gold reserves.
shafaq.com
