The Central Bank of Iraq (CBI) has confirmed that its foreign currency reserves remain strong and are fully capable of meeting the country’s demand for foreign currency. This includes funding for foreign trade, bank card transactions, and cash requests from travelers at the official exchange rate.
According to the CBI, the recent increase in the dollar exchange rate in local markets is not due to a shortage of foreign currency. Instead, the bank said the rise has been driven by speculation, market expectations, and the exploitation of regional geopolitical tensions by groups seeking to benefit from market instability.
The central bank stressed that it will continue financing foreign trade through approved and official channels. It said these measures are aimed at ensuring imports continue without disruption and that essential goods and products remain available in the domestic market.