Iraq's forex reserves hit record high as oil prices soar

BAGHDAD, Sept. 29 (Xinhua) -- Iraq's foreign exchange reserves have surpassed 87 billion U.S. dollars, the highest level the Iraqi Central Bank (ICB) has seen since its establishment in 1947, official Iraqi News Agency (INA) reported Thursday.

"The financial reserves (of foreign currency) in the ICB reached the highest level and are expected to exceed 100 billion dollars in the future," Ihsan al-Yaseri, an ICB