[size=36]Central Bank: Foreign exchange reserves exceed $110 billion[/size]
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The Central Bank of Iraq announced, on Saturday, the size of foreign reserves, while indicating its endeavor to spare them from risks.
The assistant general manager of the investment department at the bank, Muhammad Yunus, told the official news agency, "The central bank's investments originate in the foreign reserves held by the bank," noting that "it is divided into a group of segments, including liquidity segments and investment segments."
Yunus added, "These reserves have now exceeded (110) billion dollars," noting that "most of them are invested in assets that are as close as possible to risk-free."
He continued, "We try as much as possible to enter into investments that achieve reasonable returns and avoid the risks that foreign reserves may be exposed to," stressing that "the returns on investments achieved are acceptable and achieve the goal for which the reserves were found."