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Iraq ahead of ten Arab countries in gold reserves
economy Since 2017-05-24 at 16:47 (Baghdad time)
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Iraq is ranked fifth in gold reserves according to the latest report issued by the World Gold Council, which measures the period until the end of the first quarter of this year.
Iraq ranks Kuwait, Egypt, Qatar, Jordan, Syria, Morocco, UAE, Tunisia, Bahrain and Yemen.
Saudi Arabia topped Arab countries with reserves of 322.9 tonnes of gold, followed by Lebanon, Algeria and Libya.
Gold reserves are what the central bank maintains as a depository of value and a guarantee to redeem promises to pay depositors, holders of securities or their trading partners or to secure the currency, and gold reserves are used almost exclusively - albeit rarely - in the settlement of international transactions.
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economy Since 2017-05-24 at 16:47 (Baghdad time)
Follow Mawazine News
Iraq is ranked fifth in gold reserves according to the latest report issued by the World Gold Council, which measures the period until the end of the first quarter of this year.
Iraq ranks Kuwait, Egypt, Qatar, Jordan, Syria, Morocco, UAE, Tunisia, Bahrain and Yemen.
Saudi Arabia topped Arab countries with reserves of 322.9 tonnes of gold, followed by Lebanon, Algeria and Libya.
Gold reserves are what the central bank maintains as a depository of value and a guarantee to redeem promises to pay depositors, holders of securities or their trading partners or to secure the currency, and gold reserves are used almost exclusively - albeit rarely - in the settlement of international transactions.
[You must be registered and logged in to see this link.]
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