Press release about the foreign reserves performance report for 2019
The data of the annual report of foreign reserves showed a positive performance in 2019 compared to 2018, as these reserves grew by 5.52% in 2019 from what they were in 2018, as a result of the increase of CBI purchases of US dollar from the Ministry of Finance compared to its sales through Currency sale window, in addition to the profits accrued from the returns of the investment portfolio in its various classes.
On the level of investment portfolios, the value of these portfolios achieved net growth in 2019 by 18.4% compared to 2018, accompanied by a growth in returns on these portfolios in 2019 by 59% compared to 2018, and the proportion of these returns to investment portfolios in 2018 was approximately Almost 1.7%, while the rate of returns to investment portfolios increased in 2019, to approximately 2.3%.
As for the gold segment, it grew in 2019 by 18.8% compared to 2018, even though this bank has not increased its investment in this asset during this year, but the increase in the value of these holdings came because of the significant increase in the price of gold globally. Iraq ranked 38th in the world with its gold holdings and 5th in the Arab world, with a total of 96.3 tons.
As part of this bank’s plan to enhance returns on reserves and build capacity in the field of reserves self-management, this bank established during the year 2019 many international banking relationships and entered into agreements and memoranda of understanding with several international banks and major financial institutions, such as the International Bank for Reconstruction and Development and the Arab Monetary Fund, As well as international institutions concerned with investment management.
