Shafaq News/ The Central Bank of Iraq (CBI) has revealed that thecontribution of gold, both domestically and internationally, accounted for 8.5%of the country's total foreign currency reserves in 2023.
In a recent report reviewed by Shafaq News, the bank stated that itstotal foreign currency reserves, “including gold, US dollars, and foreigncurrency cash, reached 145.257 trillion dinars (About $95 billion) in 2023.This marks an increase of 3.5% compared to 2022 when reserves totaled 140.086trillion dinars.”
The report further noted that the gold component of these reservesamounted to 12.293 trillion dinars, representing 8.5% of the total. Thisreflects a growth of 10.37% from the previous year, where it was recorded at11.018 trillion dinars.
According to the report, the contribution of foreign bank balances,particularly in New York, made up 91.3% of the foreign currency reserves,equating to 132.641 trillion dinars. Additionally, the contribution of foreigncurrency held in the Central Bank's vaults was a mere 0.2%, totaling 323billion dinars.