By John Lee.

The Central Bank of Iraq (CBI) reportedly expects cash reserves to reach $90 billion by the end of this year, up from about $80 billion currently.

CBI Deputy Governor, Ammar Khalaf, told the Iraqi News Agency (INA) that the increase is a result of higher oil prices.

He added that gold reserves have increased by about 30 tons, to more than 131 tons.

(Source: INA)

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