Government advisor: The dollar exceeds 40% of Iraq’s foreign currency reserves.

Shafaq News / The financial advisor to the Iraqi Prime Minister, Mazhar Mohammed Salih, revealed on Wednesday that more than 40% of the country’s foreign currency reserves are in US dollars.

Saleh told Shafaq News Agency, “The US dollar accounts for more than 40% of Iraq’s investment portfolio of foreign reserves,” noting that “this is due to the fact that oil revenues are received in dollars.”

He added that “Iraq’s foreign reserves, which have reached $110 billion or less, play an important role in protecting the national economy from external shocks,” noting that these reserves are diversified between various foreign currencies and gold in the national investment portfolio.

According to the Central Bank, Iraq has foreign exchange reserves of 130.8 trillion dinars, including 162.6 tons of gold.

Shafaq.com