Iraq has enough foreign reserves to meet demand for dollars for imports, card payments and travelers at the official exchange rate, the country’s Central Bank (CBI) said on Saturday, as the Iraqi dinar weakened sharply against the US currency, hovering around 160,000 Iraqi dinars per $100.
In a statement, the CBI attributed the rise to market speculation and expectations, as well as attempts by some beneficiaries to exploit geopolitical tensions in the region and unsettle economic and financial conditions.
The bank did not identify those it accused of benefiting from the situation.
Urging the public to rely on its official data and statements and avoid information circulated through unreliable sources, the CBI pledged to continue financing foreign trade through approved channels and for authorized purposes.
Earlier today, the CBI said that foreign reserves fell by nearly 17% in the first seven months of 2026 to $80.633 billion, with reserves declining by more than $5.5 billion in July alone.
