Import 70 tons of gold per year, decline in gold proves strength of Dinar
Adviser Abadi: we import 70 tons of gold per year and decline proves the strength of the dinar
Alsumaria News / Baghdad - Economic Adviser to the Prime Minister stressed the appearance of Mohammed Saleh said in an interview on Monday, that Iraq imported annually about 70 tons of gold, while pointing out that the decline in gold shows the strength of the Iraqi dinar.
Saleh said in an interview to the Sumerian News, he said that "large amounts of gold per year intervention in Iraq, ranging between 60-70 tons," adding that "the abundance of gold with the power of the Iraqi dinar led to lower prices in the local markets."
Saleh added, that "the global gold prices have fallen dramatically, and decline to make the price of gold is currently less than it was in 1978," attributing the cause to "purchasing power of the citizen, which was low at the time compared to the current time enjoyed by Iraqi high purchasing power."
Saleh pointed out, that "other reasons that led to the decline in gold prices, is the stability of the Iraqi dinar and the high associated with the high dollar is also globally against other currencies," stressing that "the decline in gold gives an indication of the strength of the Iraqi dinar."
The price of gold in the Iraqi market dropped below 200 thousand dinars per weight after it was ranging between 250 thousand to 300 thousand dinars per weight.