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Iraq's forex reserves depleted by over 7.4 billion USD in the first quarter of this year. Economic expert Nabil Al-Marsoumi revealed, on Thursday, a significant decline in the Central Bank of Iraq’s foreign currency reserves during the first quarter of 2025, as a result of the decline in oil revenues resulting from the decline in global oil prices. Al-Marsoumi said in a tweet followed by Al-Maalomah, “The Central Bank’s reserves decreased from $105.290 billion (equivalent to 136.877 trillion dinars) in December 2024 to $97.844 billion (127.198 trillion dinars) in March 2025.” He explained that “reserves lost approximately $7.455 billion during the first three months of this year,” noting that “the main reason behind this decline is that the Central Bank’s sales of foreign currency were greater than its purchases from the Ministry of Finance, as a result of the decline in oil revenues.” almaalomah.me