The Central Bank issued gold bullion to pull cash from the market
July 14, 2015 5

Economic expert alecs Antoine, on Wednesday, the Central Bank issued gold ingots for sale, to withdraw cash from the local market.

Antoine told reporters followed the news agency "economy," the Central Bank issued gold bullion weight grams, five grams to pull cash from the local market and this is one of the methods for withdrawing liquidity from the market. "

"The Central Bank has gone it is a contractor with international companies for processing these gold bullion until sold to citizens in an auction of gold and also alleviates the burden of cash from citizen, it pulled to reduce inflation in the market and also strengthens the tally from Iraqi dinar."

He noted that "the process of buying gold a good gesture to diversify currencies, not only the central bank balances on old LAR, because gold is the guarantor for the Iraqi economy stocks which contribute to maintaining the value of the Iraqi dinar.

The Central Bank of Iraq was announced in 2013, on his quest to find a balanced ratio of gold with foreign exchange reserves, saying that as the size of the reserve is less than the contribution of other components.