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{Economic: Al Furat News} The economic expert, Salah Nuri, believes that most of Iraq's transactions are in dollars and the high exchange rate compensates for Iraq's losses from the drop in gold prices.
Nuri told Al-Furat News that: "There are indications of a global economic crisis, but this crisis has a weak impact on Iraq, since most of the country's transactions are in dollars, so it is still high against the euro."
He added, "Also, the Iraqi reserve in the International Central Bank is between the dollar and gold, and this diversity in reserves contributed to balancing the economic situation."
Nouri explained, "That is, the decline in gold prices is offset by a rise in the price of the dollar, and this raises the gains and compensates for the losses in gold prices."
The economist, Duraid Al-Anzi, estimated that Iraq lost at least one billion dinars due to the decline in currencies, including gold.
And Al-Enezi {For Euphrates News} said that the Central Bank of Iraq ranked fourth in the Arab world and forty globally in gold reserves, and that our loss at the least amounted to one billion dinars after this decline.
Gold futures fell, today, Thursday, with the price of the US dollar rising globally.
According to the Comex rating of the New York Mercantile Exchange, gold futures were traded in August at $1,724.65 an ounce at 05:40 GMT.
And the dollar index contracts, which measures the performance of the US currency against a basket of six other major currencies, rose by 0.34% to trade at 108.13 dollars.
He added, "Also, the Iraqi reserve in the International Central Bank is between the dollar and gold, and this diversity in reserves contributed to balancing the economic situation."
Nouri explained, "That is, the decline in gold prices is offset by a rise in the price of the dollar, and this raises the gains and compensates for the losses in gold prices."
The economist, Duraid Al-Anzi, estimated that Iraq lost at least one billion dinars due to the decline in currencies, including gold.
And Al-Enezi {For Euphrates News} said that the Central Bank of Iraq ranked fourth in the Arab world and forty globally in gold reserves, and that our loss at the least amounted to one billion dinars after this decline.
Gold futures fell, today, Thursday, with the price of the US dollar rising globally.
According to the Comex rating of the New York Mercantile Exchange, gold futures were traded in August at $1,724.65 an ounce at 05:40 GMT.
And the dollar index contracts, which measures the performance of the US currency against a basket of six other major currencies, rose by 0.34% to trade at 108.13 dollars.
From: Raghad Daham
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