Iraq's Central Bank Increases Gold Reserves by 45.1%

By John Lee.

The Central Bank of Iraq (CBI) has reported a 45.1-percent increase in its gold reserves in Q4 2024 compared to the same period in 2023.

Reserves rose from IQD 12.29 trillion in Q4 2023 to IQD 17.83 trillion [$13.6 billion] in Q4 2024, driven by both an increase in gold holdings and a rise in gold prices.

The CBI emphasized that this growth strengthens economic and financial stability, mitigates risks, and serves as a key tool for currency market intervention.

(Source: INA)