The Central Bank of Iraq announced today, Friday, that the cash reserves exceeded 160% of the value of the Iraqi dinar.
“The central bank’s reserves exceeded for the first time the threshold of 90 billion dollars, which is a very large number, and represents an indication of the recovery of the Iraqi economy, and a great support for the value of the Iraqi currency,” said the Central Bank’s advisor, Ihsan al-Yasiri, in a statement to the official agency (INA).
He added: “The Iraqi currency is now witnessing a great rise and recovery, as it is one of the strong international currencies, although it is not an international currency for circulation.”
Al-Yasiri explained: “The government and the Ministry of Finance have an opportunity to support the fragile and poor groups and retirees with low salaries and those covered by social protection and retirees through these funds by allocating part of them within the 2023 budget.”
Source: National Iraqi News Agency