São Paulo – The Central Bank of Iraq confirmed that the country’s dollar reserves had recovered to nearly USD 80 billion between September and October, according to a report published on Wednesday (28) by Iraqi news agency INA.
The institution reassured citizens that cash dollars remain available and that new shipments of the currency are expected to arrive in the country in the coming days. The statement was made by Mahmoud Dagher, adviser to the governor of the Central Bank of Iraq and the bank’s spokesperson.
“Total dollar reserves, whether held in the Central Bank’s accounts or in the government’s account with the US Federal Reserve, improved during September and October 2026 after falling to USD 73 billion. Reserves have now returned to nearly USD 80 billion,” he said.
The spokesperson added that the country’s gold reserves remained unchanged at 170 tonnes.
According to Dagher, the improvement in dollar reserves over the past two months was driven by oil export revenues, which recently approached USD 6 billion per month.
“This is an acceptable level under the current crisis,” he explained.
He also addressed the country’s heavy reliance on oil as a source of public revenue and funding for government spending.
“When our oil exports were interrupted, as happened in April, May and June, the reserves were sufficient to cover one year of needs. That period fell to approximately nine months, but reserves are now beginning to return to their previous levels,” he said, citing their importance in sustaining foreign trade, which is essential for Iraq, a major food importer.
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Translated by Guilherme Miranda
