CBI announces the purchase of gold of approximately 2.3 tons, and maintains its rank globally
May 30, 2023
The Central Bank of Iraq announced the purchase of new quantities of gold of approximately 2.3 tons, which resulted in an increase in its holdings of this metal by 1.79%, bringing its total to (132.74) tons, maintaining its sequence in rank (30) in the order of gold holdings of the countries of the world.The Investments Department of the Central Bank of Iraq stated that the purchase came with the aim of increasing its holdings of gold in light of the economic and political conditions that the world is witnessing.It is noteworthy that gold is one of the most important components of the reserves held by banks and international financial institutions, as these banks and institutions constantly increase their reserves of this metal, because of this measure’s positive impact on the financial solvency of these institutions and the creditworthiness of their countries.Central Bank of IraqMedia Office2023/5/29
