The Central Bank of Iraq has reported a 1.59% decline in net foreign reserves for November 2024, compared to the preceding month.
According to the bank’s recent findings, the net foreign reserves fell to 137.09 trillion dinars in November, down from 139.31 trillion dinars in October. Furthermore, this represents a significant decrease compared to the same period last year, when reserves stood at 147.148 trillion dinars.
The report indicates an annual reduction of 7.05% in these reserves, highlighting a notable trend in Iraq’s financial landscape.
Conversely, the Central Bank noted a reduction in the dollar exchange rate within the parallel market during November, which decreased to 1,510 dinars per dollar, compared to 1,520 dinars in October.