Sunday, April 15, 2018

Did You Know The Yuan Is Part Of Iraq's Reserves?...Iraq's Basket Of Currencies , 15 APRIL

January 29, 2018

The Central Bank of Iraq invests in the Chinese yuan currency

The Director of the Information Office of the Central Bank of Iraq, Acer Jabbar, that this bank is keen to diversify its foreign reserves and diversify the basket of currencies in the investment portfolios as well as the geographical distribution of investments of this bank and for this "signed and through the Investment Department in the Central Bank agreement banking arrangements with the People's Bank China ", which will contribute to the development of banking relations with global economies, especially with the Chinese economy.

The investment was made in the currency of the "Chinese yuan" after being included in the IMF's special drawing rights basket by late 2016, which led to the yuan's appreciation of international liquidity.

Government bonds in the Chinese yuan have higher returns than other currencies, including the US dollar.

29 January 2017


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