The Iraqi Central Bank claimed today, Thursday, that it had amassed the highest reserve in its history, surpassing 87 billion dollars, while highlighting the fact that the value of the Iraqi dinar is 130% higher than it actually is.
Ihsan Shamran al-Yasiri, the adviser to the central bank, stated to the Iraqi News Agency (INA) that “the central bank reserves topped 87 billion dollars, which is the highest amount that the central bank of Iraq’s reserves reach.
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He emphasised that “Iraq’s currency is particularly robust since, in addition to serving as a means of meeting importer demand, reserves account for 130% of the source of money circulation in banks and other institutions. ”
He clarified that “The reserve is not a perfect indicator of how well the economy is doing because it had previously reached 40 billion and the situation was improving. . . The state helps to make financial discipline and advice, which is the lesson here.
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He expressed his hope that “the reserve will exceed $100 billion,” noting that “any irresponsible government spending indirectly affects and diminishes the reserve.” “.
level historically. More than 87 billion dollars are in Iraq’s foreign exchange reserves.
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