Iraqi Currency IQD to PKR

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Iraqi Currency IQD to PKR

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Gold is one of the most important factors in ensuring the gold and foreign exchange reserves of a modern state. At the same time, in the media covering events in the financial world, most often indicate the price of this precious metal in a currency, be it the pound sterling or the yen. The implication is that gold is a commodity and not a form of currency like eggs or butter.

At the same time, if you follow the ancient Chinese saying that “wisdom begins when every thing is called by the right name”, gold should be called a currency. And do not evaluate it by determining the cost, but talk about the course in relation to other currencies. In this regard, the expression “gold is worth four hundred US dollars” would be more appropriate, rather than “gold is worth $400”. Moreover, the exchange rate is directly dependent on the gold reserves of a particular state.