Home
Gold reserves fell by 5% in the central bank .. The latter denies
04/02/2013 (23:00 pm) - The number of readings: 64 - Issue (2717)
Baghdad / Ahmed Abed Rabbo
The Ministry of Finance lower gold reserves at the central bank to 5%, indicating that it does not affect the price of the local currency, while denied the central bank reduced reserve of gold pointing out that he is witnessing stable over the past months.
said director banks in the Ministry of Finance Crescent Taan in a telephone conversation with the long "The gold reserves at the central bank fell to 5%, confirming that the low amounts Central Bank reserves of gold does not affect the price of the local currency.
added Taan: "that the balance of currency consists of foreign currency, which amounted to 67 billion dollars backed بالسبائك gold.
his part count economist Majid picture that the decline in gold reserves falls within the framework of monetary policy of the Central Bank.
said Suri in his speech to the extent of: "The reduction of gold reserves is part of the political cash reserves sovereign central bank intervened in the field of various investments under of the currency market and gold.
Suri added, "These actions are variable, the central bank resorted to change the basket of currencies or gold from existing reserves to ensure the preservation of these reserves without loss in terms of identifying imports. Regarding the sale and purchase of gold the central bank looks at the global market for gold regardless of the ratio of reserves of the yellow metal, indicating that the monetary policy of the country depends on the point of view the central bank in the future of the basket of currencies and gold.
of said financial expert Ahmed ابريهي of how: "The reserves Gold is located in the central bank does not constitute only a small percentage of the existing reserves, pointing out that the gold with the present is no longer the basis for the reserves that support the currency, adding that "all central banks in the world does not deal with the gold on the basis of being a component in international reserves.
was CBI has denied reports by the media about the low reserves of gold, stressing that it saw stable over the past months.
said in a statement that "no truth to the news reported by some media about the low Bank reserves of gold," stressing that the reserves now total 29.790 tons.
revealed the International Monetary Fund earlier that Iraq cut reserves of gold by a quarter to reach to 29.9 tons in November 2012, pointing out that the reserves in September and October of last year reached to 39.4 tons.
noteworthy that Iraq has taken a big step to strengthen its reserves of gold in the past few months to join other central banks of emerging market economies, such as Brazil and Russia to diversify its foreign reserves.
[You must be registered and logged in to see this link.]
