Central: High gold reserves in Iraq, helping to stabilize the exchange rate of the dinar

[yota691]

Central: High gold reserves in Iraq, helping to stabilize the exchange rate of the dinar

 

April 16, 2014 10:17   Last Updated: April 16, 2014 10:17

 

 

 

Central Bank of Iraq high reserves of pure gold to 90 tons, after the purchase of 60 tons during the past two months, and through contracts with international companies Stamping gold in order to diversify the means of public savings and activate the gold market deal. The central bank said in a press statement that "this is one of the tools of monetary policy to stabilize the exchange rate of the Iraqi dinar. According to the newspaper brotherhood to it, said a member of the Finance Committee in the Iraqi Parliament Najeebeh Najib said that "the Iraqi Central Bank is the competent authority for the development of the monetary policy of the Iraqi economy, through diversification of trading means savings for the public, "indicating that" the agreements and contracts concluded by the central bank with international companies Mint gold bullion is positive phase represents the right way for a strong economy. " and explained that "the reserve grand gold in Iraqi banks represent the real guarantee for the Iraqi economy from any Chuck emergency affecting the country due to economic fluctuations. "and demanded Najib Iraqi government to" increase the reserve of gold metal, "pointing out that" the Iraqi government are obliged to diversify the Iraqi economy and ICON dependence on oil and gas largely basic, so you must save gold to be a supporter bulk of the Iraqi economy. " For his part, said economic expert Jacob teacher, said that "the case with the policy of great economic represented a reserve large gold pure in Iraqi banks is a positive phase, represents a line graph economically rising for the better," he said, adding that "high reserves pure gold during the last two months to make Iraq in the first third of the rankings private reserves, global central banks gold. "and added that" the entry of the World Gold to Iraq is to activate the gold market and the diversification of saving the country's economic, knowing that the gold Iraqi was not affected by the entry of gold the United Arab Emirates and Turkey in the local market. "said the teacher that "the policy of saving for the gold alloy is the global economic policy followed by the more advanced countries, and that this policy gives enough strength to advance economically and commercially."

[stealthwarrior]

Stabilize at 1166 to 1? or what?

[moneysoon]

Morning Yota and DV.

All I can say is the the currency has Gold, oil, and Natural Gas to substantiate a competitive rate against the dollar. I bet the goal is to be on par with Kuwait which would better than nice.

[DinarDavo]

On a sidebar Moneysoon......just noticed your "location". I used to live in Inlet Beach...fished Philips Inlet regularly. Recently visited a friend in Destin. Beautiful area....so far, no hurricanes in SW Missouri!

[GGGECKO]

It's difficult to be patient with these knuckleheads. Hopefully after election we'll have HCL, Budget, WTO, and RV. I would take anything at this point which would be progress. Everyone seems to agree .10 to 1 to 1. I've come away with one prevailing thought. SOON! Which with Iraqi is unsolvable equation of:

 

SOON = unknown

 

I thought our government was good at kicking the can down the road.

 

Go RV! Soon!

[MyLadiesDaddy]

Yea, OK, sure it is.

[skeetdog]

Thanks Yota...There's got to be futures in the gold market for Iraq with the resent gold discovery... not sure about the progress on processing it. Then there's the DFI funds that's coming up for release.   I'm on the same page as 'moneysoon', there's just too much pride and competition between the ME counties. With where Iraq's dinar was devalued from and from the reserve that Iraq has and is trying to accomplish something seems to be their driving motive... as and ol' ''Stud'' player, with Iraq's hand, I'd just keep on seein' ya and bumpin' the bet.... 

[calkid11]

Good post YOTA

[RVWITHME]

It's difficult to be patient with these knuckleheads. Hopefully after election we'll have HCL, Budget, WTO, and RV. I would take anything at this point which would be progress. Everyone seems to agree .10 to 1 to 1. I've come away with one prevailing thought. SOON! Which with Iraqi is unsolvable equation of:

 

SOON = unknown

 

I thought our government was good at kicking the can down the road.

 

Go RV! Soon!

 

SOON = ?

Remember, they read everything from right to left!

[outlawclg]

SOON = ?

Remember, they read everything from right to left!

 

Put an e on the end for m.