Economic Update – Baghdad
The Central Bank of Iraq announced a remarkable increase in its gold reserves, reporting a growth of 45.1% for the fourth quarter of 2024 compared to the same period in 2023.
According to the bank’s statement, gold reserves rose significantly from 12.29 trillion dinars in the fourth quarter of 2023 to 17.83 trillion dinars for the corresponding period in 2024. This surge has been attributed to both an increased volume of gold purchases and soaring gold prices.
The statement highlighted that this increase has substantial advantages for the Iraqi economy. It not only bolsters economic and financial stability but also serves as a protective measure against various risks. Furthermore, these reserves are considered vital tools for intervention in the exchange market.
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