Iraq's foreign exchange reserves rise in May
According to the CBI, Iraq's foreign reserves as of May 22 amounted to $98.83 billion (128.47 trillion Iraqi dinars), up from $97.94 billion (127.32 trillion Iraqi dinars) on May 1.
These reserves have also grown since April, when they stood at $98.08 billion (127.51 trillion Iraqi dinars).
The CBI stated that reserves have declined from last year's level of $100.276 billion (130.34 trillion Iraqi dinars) and are also lower than the 2023 figure of $111.73 billion (145.25 trillion Iraqi dinars).
The director of the CBI's Investment Department, Mohammed Younis, revealed earlier in June that foreign reserves surpassed $100 billion.
In a statement to the state-run news agency (INA), Younis explained that the country has a large reserve of gold, exceeding 163 tons.
Iraq's foreign reserves are managed in accordance with thoroughly planned policies based on highly secure standards and invested in safe financial products that yield appropriate returns, according to Younis.
The CBI disclosed last month that its official reserves fell by more than 11 trillion Iraqi dinars ($8.39 billion) in a single year.
According to the CBI's report on financial and monetary indicators in Iraq for February 2025, the bank's official reserves reached 127.20 trillion Iraqi dinars ($97.12 billion) in February, a decrease of 8.21 percent compared to the same period in 2024, when reserves reached 138.570 trillion Iraqi dinars ($105.8 billion).
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