Dollars sold by the CBI against dollars earned from oil

CALCULATED · 2026-08 · ON A PROVISIONAL READING

Provisional — from SOMO’s monthly statement. The statement gives rounded figures, so a price or daily rate derived from them is shown to the dollar and the ten thousand barrels; SOMO’s chart page, the typed record, replaces this reading the day it carries the month.

Dollars the Central Bank sold through its window in a month, as a share of what oil earned that month. Iraq’s dinar is backed by oil dollars: near or under 100%, oil pays for the dollars the economy buys; far above it, reserves are paying instead — as they did through the Hormuz months, when sales ran at four to six times oil income.