According to the CBI website the Gross Foreign Assets at the CBI as of May 25, 2017 totaled $53.4 billion.
Saleh has stated more than once that the dinar is or will be one of the strongest currencies in the world and a reserve currency:
Saleh said the Agency (news) said on Saturday: The dinar today has become a strong and like a hard currency through the Bank’s policy Central control of the cash raised in the local market.
He explained: that the dinar covered in hard currency at a rate of more than (100%), and this rare condition, and has a cash reserve large hard currency than for (60) billion dollars retained by the face of difficult circumstances that may occur in the country, giving the power of the dinar against foreign currency.
This statement was made in 2012 but he has reiterated it several times. In February of 2014 he said this: He said the appearance of Mohammed Saleh told the “time”, that “the Iraqi dinar is protected range is strong, and the cover of foreign currency is very high unless they are used for the purposes of reserves dedicated to the support of the Iraqi dinar.”
Admittedly he is looking to the future when he makes these statements. However, he is a member of the planet and an economist. Thus your statement that “There isn’t an economist or currency evaluator on the planet that states Iraq is or will be the strongest currency in the world” is a bit of hyperbole.
The Saudi Riyal is rated the 16th strongest currency in the world. The dinars used to purchase foreign currency go directly to the CBI from the banks, since the banks have to get the foreign currency from the CBI in exchange for the dinars. Therefore, no one is saying that it “go[es] back to the banks to begin the cycle all over again.”