Iraq’s Gold Reserves Jump 45% in Late 2024

PUKMEDIA

Gold.

The Central Bank of Iraq (CBI) has announced a 45.1% increase in gold reserves during the fourth quarter of 2024, rising from 12.29 trillion Iraqi dinars to 17.83 trillion Iraqi dinars, driven by higher quantities and increased prices.

CBI Governor Ali al-Alaq confirmed that Iraq now holds 162 tonnes of gold, placing it among the countries with the largest reserves worldwide. The value of these reserves increased from $9.4 billion in 2023 to $13.6 billion in the fourth quarter of 2024.

The CBI stated that it closely monitors gold and currency movements, adopting a policy of asset diversification to mitigate risks, and has continued to purchase gold in recent years.

It further explained that the growth in gold reserves strengthens economic and financial stability, serving as an important tool for intervention in the foreign exchange market and for protecting the economy from fluctuations.



PUKMEDIA