Iraq: Foreign exchange reserves including gold, billion USD
For that indicator, The World Bank provides data for Iraq from 1960 to 2018. The average value for Iraq during that period was 15.39 billion U.S. dollars with a minimum of 0.19 billion U.S. dollars in 1962 and a maximum of 77.75 billion U.S. dollars in 2013.
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The reserves of Iraq and other countries include their holdings of foreign currencies and gold. These are the reserves of the central bank and the treasury of the country, not the private sector.
When countries export products or attract investment from other countries, they receive foreign currencies. They use some of these currencies to buy imports and to invest in other countries. The rest is held in reserves and some of the reserves may be converted to gold.
Definition: Total reserves comprise holdings of monetary gold, special drawing rights, reserves of IMF members held by the IMF, and holdings of foreign exchange under the control of monetary authorities. The gold component of these reserves is valued at year-end (December 31) London prices. Data are in current U.S. dollars.