The central banks seek to accumulate and manage their holdings of international reserves. This acquisition is considered the cornerstone in facing the internal and external crises, including supporting the value of their local currency and dealing with the imbalance of their artillery, in addition to the internal crisis crises of their economies such as lack of saving for investment , As developed and emerging countries as well as developing countries, including Iraq, are working to settle their foreign liabilities and transactions with their  international reserves, foreign currencies account for the largest share of these reserves, which are derived from the total exports, whether those derived from rent or real sectors. Large in the equilibrium price of these exports, whether those fluctuations internal or external, the quantity or price, Which is reflected in the size and composition of these reserves and their relationship to the local exchange rate as a result of these fluctuations, However, these effects vary from one country to another depending on the progress of their markets and the exchange rate regime adopted by those countries if the fixed exchange rate or floating rate is the obvious effect on the accumulation and management of international reserves than the floating exchange rate  , In this study, we discussed the prices of exchange rate regimes and their impact on the management of international reserves in developed and developing countries, such as Japan, Brazil and Iraq respectively. The research found that floating exchange rates in developed and lower market countries Management and accumulation of international reserves from developing market countries due to the nature of the role of the monetary authority in intervening in the exchange markets of these countries, in addition to the economic nature of those countries and the ways in which they used to neutralize the exchange rate

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