The Central Bank of Iraq announced two important economic changes: first, the country's gold reserves have increased significantly, and second, there is an intention to remove the zeros from the Iraqi currency.

Iraq's gold reserves reach 170 tons

Iraq's gold reserves have risen from 70 tons to 170 tons, Central Bank Deputy Governor Ammar Khalaf said. This amount of gold accounts for 20% of the Central Bank's total assets.

Iraq has the fourth-largest gold reserves in the Arab world and the 29th-largest in the world.

A plan to remove zeros from the currency

There is an intention to remove the zeros from the Iraqi currency

he said.

The move is aimed at reducing the burden on the financial sector caused by the accumulation of cash. Meanwhile, Khalaf assured that there is no intention to change the exchange rate of the currency so as not to affect 'economic stability'.