Economist: Reserves in the Central Bank vary between dollars and gold
Economist Salah Nouri said on Tuesday that the reserve in the Central Bank consists of (the dollar currency, the euro currency, gold is based on the London market price.
In his interview with {Euphrates News}, Nouri explained that “the Central Bank’s policy aims to diversify the investment portfolio between the dollar currency and gold, as this portfolio is managed according to global variables.”
He pointed out that “the central bank has investments in the form of debt bonds in the US Treasury with acceptable interest.”
“In light of the current international changes and the statements of US President Trump, the central bank can move towards gold as a safe haven,” Nouri continued.
He added: “According to the central bank’s announcements, gold reserves promise the level of safety, in addition to the dollar reserves, which can help maintain economic stability.”
Regarding economic challenges, Nouri pointed out that “the difficulties that Iraq may face are related to the financial policy managed by the Ministry of Finance, as the low oil prices and determining the amount of exports and problems with the region lead to a decrease in the ministry’s revenues from oil sales in dollars, as well as the US Federal policy that transfers the dollar to the Ministry of Finance.”
“These difficulties in fiscal policy negatively affect the monetary policy pursued by the Central Bank of Iraq,” Nouri continued.
From.. Ragheed
https://alforatnews.iq/news/خبير-اقتصادي-الاحتياطي-في-البنك-المركزي-يتنوع-بين-الدولار-والذهب
