Shafaq News / Iraq's hard currency reserves reached 48 billion US dollars, according to the Global GFP Ranking Corporation, which indicated that China ranked first with the world's highest reserves.

The institution said, according to its latest classification, "Iraq's reserves of hard currency, including foreign exchange and gold, amounted to 48 billion and 880 million dollars", adding, "Iraq ranked 40th with the most reserves among the 138 statistically listed countries".

"Iraq ranked sixth in the Arab world after Saudi Arabia (496 billion and 400 million dollars), Algeria (97 billion and 890 million dollars), the United Arab Emirates (95 billion and 370 million dollars), followed by Libya (74 billion and 710 million dollars) and Lebanon (55 billion and 420 million dollars), the corporation added.

"China ranked first, with reserves of 3 trillion and 236 billion dollars, followed by Japan with one trillion and 264 billion dollars of reserves".

It is noteworthy that the Central Bank of Iraq reported, in April 2019, a rise in Iraq's foreign exchange reserves to $ 62 billion.