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Iraq is making a major prediction about the country's parallel-market dollar rate. https://www.myfxbuddies.com/2026/11/iraqs-dollar-rate-it-will-be-very-close.html Deputy Prime Minister Mohammed Tamim says the parallel-market exchange rate will decrease and move much closer to Iraq's official exchange rate — and he went a step further, saying, “I am responsible for this statement.” The prediction comes as Iraq says it is receiving significantly larger quantities of physical US dollars. According to Tamim, cash dollar supplies had previously fallen below $3 billio...

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Is Iraq heading back to the IMF? https://www.myfxbuddies.com/2026/10/imf-prepares-new-bailout-package-for.html The International Monetary Fund says it is engaging with Iraqi authorities to prepare a new program as Iraq faces severe financial and economic pressure. The IMF says Iraq's narrow non-oil revenue base is putting pressure on its fiscal position, while the country's heavy dependence on energy exports leaves it particularly vulnerable to disruptions in oil exports and regional conflict. The IMF has also forecast that...

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Iraq's dollar reserves have reportedly recovered to around $80 billion, https://www.myfxbuddies.com/2026/10/80-billion-iraqs-dollar-reserves-surge.html up from approximately $73 billion during the previous period, according to statements attributed to Central Bank of Iraq spokesman Mahmoud Dagher. At the same time, Iraq says US dollar cash shipments are continuing, with two planes reportedly arriving and each shipment carrying approximately $500 million in physical US currency. That means roughly $1 billion in cash shipments could already have arrived, while additional deliveries are expected...

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Could Iraq strengthen the Iraqi dinar BEFORE removing zeros from the currency? https://www.myfxbuddies.com/2026/10/strengthen-iraqi-dinar-first-roadmap.html A new discussion from Iraq Observer puts economic and monetary reform at the center of the conversation about the future of Iraq's currency. Economic researcher Dr. Safwan Qusay says that determining the fair value of the Iraqi dinar and decisions involving removing zeros or replacing the currency fall under the Central Bank of Iraq's monetary policy. But he emphasizes that...

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Iraq is looking to dramatically increase the amount of US cash dollars My FX Buddies Blog entering the country as Baghdad tries to narrow the gap between the official exchange rate and the parallel market. Prime Minister Ali al-Zaidi says the government is working to increase dollar shipments from roughly $500 million per month toward $1 billion — while also seeking shipments worth as much as $2.5 billion. The announcement comes after Iraq raised its official cash selling rate from 1,320 to 1,520 dinars pe...

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Is the Iraqi dinar really the 2nd worst-performing Arab currency? My FX Buddies blog A new report citing data attributed to Bloomberg says the Iraqi dinar has fallen 14.2% against the U.S. dollar since the beginning of 2026, placing it behind the Libyan dinar among the Arab currencies cited. But there's an important distinction. A currency being one of the worst-performing currencies does NOT mean it has one of the lowest nominal values. And Iraq's currency situation has become...

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The Central Bank of Iraq introduces a new electronic system for replacing damaged currency. https://www.myfxbuddies.com/2026/10/the-central-bank-of-iraq-introduces-new.html The Central Bank of Iraq announced on Sunday the introduction of a new electronic system for replacing damaged currency, as part of its efforts to simplify procedures and make it easier for citizens to access this service more quickly and efficiently. The bank explained in an official statement that the system allows citizens to submit requests to replace...

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This message is coming from Washington—not Baghdad. My FX Buddies Blog The U.S. State Department says the Iraqi market offers promising trade and investment opportunities for American companies and exporters. According to the statement reported by Iraq Observer, Washington sees opportunities particularly in government contracts and the energy sector, while also emphasizing that Iraq needs to improve its business environment, address regulatory challenges and continue reforms supporting its path toward World Trade Organization membership. Observer Iraq Th...

Where are the $3 billion Iraq was expecting? https://www.myfxbuddies.com/2026/10/is-3-billion-new-carrot-iraq-is-still.html A new report from Al-Mada has put another major question on Iraq's dollar market. Parliamentary Finance Committee member Jamal Kojar says the Iraqi government was expecting $3 billion in Iraqi funds held in the United States to be released in one lump sum. But Kojar says he cannot confirm whether the money has arrived yet. He believes the delay may be contributing to the rise in the parallel-market dollar rate. He also says that government intervention and additional dollar availability could help bring the parallel rate...

A major accusation is coming from Baghdad. My FX Buddies Blog link Zuhair al-Jalabi, a member of Iraq's Coordination Framework, says the United States continues to exert significant influence over Iraq's political, economic and security decisions. According to the statement reported by Al-Maalomah, al-Jalabi argues that U.S. influence has expanded beyond politics and security into Iraq's financial system and economic affairs. He further accused the Trump administration of seeking greater control over Iraq's funds, resources and vital economic sectors. Those are al-Jalabi's allegations—but there is another part of this story that is independently documented. Reuters reported in Se...

I searched specifically for the announcement shared with me, including Arabic-language searches for variations of: https://www.myfxbuddies.com/2026/10/did-iraqi-central-bank-really-announce.html - “Central Bank of Iraq” - “suspending publication of exchange rates” - “parallel market” - “freezing the parallel market” - “suspending publication of dollar rates” I could not find a current official CBI announcement using that language. What makes this particularly interesting is that the CBI has previously taken a very strong position against publishing speculative parallel-market rates from August of 2023 So I will keep searching and update you tomorrow. I covered some other interesting articles Thanks for Watching! Following...

A new Iraqi government policy is putting the Iraqi dinar back at the center of domestic commerce. Mazhar Muhammad Saleh, an adviser to Prime Minister Ali al-Zaidi, says there is a government direction to adopt the Iraqi dinar for transactions within Iraq, in accordance with the country's existing legal framework. The announcement comes only days after Iraq implemented a new exchange-rate structure. Beginning October 7, 2026, the Central Bank of Iraq set: 💵 1,500 IQD per USD — dollar purchase price from the Ministry of Finance 🏦 1,510 IQD per USD — dollar sale price to banks 🇮🇶 1,520 IQD per USD — cash dollar sale price to the public The Central Bank s...

Iraq has officially entered a new exchange-rate era. My FX Buddies Blog Beginning October 7, 2026, the Central Bank of Iraq adopted a new exchange-rate structure: • 1,500 IQD per USD — dollar purchase price from the Ministry of Finance • 1,510 IQD per USD — dollar sale price to banks • 1,520 IQD per USD — cash dollar sale price to the public The Central Bank says the change was made because of current economic and financial conditions and following a recommendation from the Council of Ministers. It also says Iraq's foreign reserves remain sufficient to meet legitimate foreign-currency demands. But now another question is emerging. A new report from Al-Mada...

The dollar is rising wildly in Iraqi stock markets. My FX Buddies Blog The government raised the exchange rate of the dollar against the dinar. The exchange rate of the dollar against the dinar has skyrocketed. The government said the decision came after an emergency presentation from the finance minister and the central bank governor. The exchange rate in Baghdad is 185, Erbil 180, and Sulaymaniyah 170. The exchange rate of the US dollar against the Iraqi dinar has risen dramatically and at varying rates in Iraqi provincial exchanges, exceeding 180,000 dinars per 100 dollars in Baghdad, 180,000 dinars in Erbil, and 170,000 dinars in Sulaymaniyah...

A major exchange-rate figure has appeared in Iraq's 2027 federal budget draft: 150,000 Iraqi dinars per $100. https://www.myfxbuddies.com/2026/10/1500-dinars-per-1-iraqs-2027-budget.html According to Iraqi MP Dilan Ghafoor, the draft budget uses this exchange-rate figure and projects that the adjustment could add approximately 20 trillion dinars to government revenues, bringing the estimated budget to around 218 trillion dinars. But there is an important catch: This is NOT yet a final approved exchange rate. Ghafoor said the Ministry of Finance has studied the proposal, but approval by the Council of Ministers and Parliament is still required. The draft also reportedly uses an...

Is the Iraqi dinar stuck in a narrow trading range? https://www.myfxbuddies.com/2026/10/iraqs-dinar-waiting-on-budget-what.html Iraqi economist Nabil Al-Marsoumi says the dollar-to-dinar exchange rate in Iraq's parallel market could remain relatively stable during the next stage, with fluctuations potentially limited to around 2% up or down. Al-Marsoumi describes the situation as the dinar being in a “tunnel,” with the market waiting for greater clarity about Iraq's upcoming budget and the direction of fiscal policy. But what could actually move the dollar? Several factors could affect the gap between Iraq's official exchange rate and the parallel-market rate, including: 💵 Demand for foreign...

Iraq has issued a new clarification about the possibility of removing zeros from the Iraqi dinar-and the wording matters. My FX Buddies Blog A government source says that discussing or studying a proposal to remove zeros does not mean it has been approved or that implementation has begun. The issue remains in an initial discussion and evaluation phase, with no decision or implementation date announced. The government source also explained that, in principle, removing zeros would mean expressing monetary values in a new unit while converting prices, salaries, savings and obligations at the same rate. In other words, the...

The U.S.-Iraq relationship is entering a major transition. Link to My FX Buddies Blog The U.S.-led international coalition's military mission in Iraq is scheduled to conclude at the end of September 2026, marking the end of a major chapter in the two countries' relationship. Iraqi officials have described September 30 as the fixed deadline for the conclusion of the coalition's military presence. But while the military relationship is changing, the economic relationship has been expanding. During Prime Minister Ali al-Zaidi's July visit to Washington, Iraqi and American companies and government entities announced dozens of agreements, memoranda of...

Iraq's oil exports are recovering—but the economics behind those exports are becoming much more complicated. https://www.myfxbuddies.com/2026/09/iraq-between-oil-and-dollar.html Iraq's Oil Ministry said September crude exports were averaging about 2.6 million barrels per day, significantly above the levels seen during the worst disruption to shipping through the Strait of Hormuz. But there's a critical distinction between how much oil Iraq exports and how much revenue Iraq actually receives from that oil. Shipping costs have risen sharply during the regional disruption. Reuters reported that tanker and transportation costs have climbed above $30 per barrel in some cases, while producers ha...

MORE U.S. CASH DOLLARS ARE COMING TO IRAQ. https://www.myfxbuddies.com/2026/09/us-dollars-headed-to-iraq-again-why.html Iraq's government says a new shipment of U.S. dollar banknotes will arrive in the country in the coming days following understandings reached between Prime Minister Ali Faleh al-Zaidi's government and the United States. Government spokesman Haider al-Aboudi said the continuation of cash-dollar shipments is intended to help meet legitimate foreign-currency needs. According to the statement, the understanding comes as Iraq strengthens controls over the distribution and use of dollars, expands electronic payment systems and moves toward a more digital economy. 💵 WHY DOES THIS MAT...

AMERICAN BANKS AND IRAQ ARE TALKING AND THE SUBJECT IS BANKING REFORM. My FX Buddies Link Prime Minister Ali al-Zaidi is calling for stronger cooperation between Iraq and American financial institutions following a roundtable in New York involving representatives of American banks and financial institutions, Iraqi banks, and economic and financial officials. According to the Iraqi Prime Minister's Media Office, al-Zaidi said Iraq is entering a new phase of economic, financial, and banking reform. He specifically highlighted the importance of greater integration with the international banking system and called on American banks and financial institutions to participate in Iraq's...

Iraq's 2027 budget is moving toward Parliament — and the exchange rate is now part of the discussion. 🇮🇶💵My FX Buddies Blog Iraq's Parliamentary Finance Committee is preparing for the expected arrival of the 2027 federal budget draft on October 15, according to committee members and other Iraqi reporting. One of the major numbers being discussed is a potential budget deficit of approximately 65 trillion Iraqi dinars. Finance Committee member Ikhlas Al-Dulaimi said the committee will examine the exchange-rate issue as part of the measures and solutions proposed by the Ministry of Finance to address the deficit. But there is an important distinction: The exchange ra...

Who is running Iraq’s economy — and is there one coordinated economic plan? https://www.myfxbuddies.com/2026/09/iraqs-big-economic-question-who-is.html A new September 22 report raises questions about how Iraq is managing some of its most important economic files, including banking reform, liquidity, dollar access, foreign transfers, government spending and the exchange market. The article quotes an economic source who argues that the issue is not simply whether individual decisions are right or wrong, but whether the decisions made by the government and Central Bank of Iraq fit together within a clear economic roadmap. At the same time, the Central Bank of I...

U.S. troops are preparing to leave Iraq — and Secretary of State Marco Rubio has now met https://www.myfxbuddies.com/2026/09/iraq-at-turning-point-rubio-meets-iraq.html with Iraqi Prime Minister Ali al-Zaidi in New York.The meeting comes just days before the scheduled September 30 departure of the remaining U.S. troops from Iraq. But there's another major deadline happening at the same time. Iraq's government is pushing armed groups toward a process of bringing weapons under state control. Prime Minister Ali al-Zaidi has outlined a new timetable beginning September 30, including a 90-day halt in attacks, followed by weapons handover with the process sc...

FINALLY — THE CENTRAL BANK OF IRAQ HAS SPOKEN. 🇮🇶💵 https://www.myfxbuddies.com/2026/09/finally-cbi-speaks-on-iraqs-rising.html As the dollar continues to rise in Iraq's local markets, the Central Bank of Iraq has issued a direct statement addressing what's happening. And the CBI is making an important claim: Iraq has sufficient foreign reserves to meet foreign-currency demand. So if the Central Bank says there are enough dollars available, why is the dollar exchange rate continuing to rise in the local market? According to the CBI, the increase is being driven by: 🔹 Market speculation 🔹 Expectations about future exchange rates 🔹 Geopolitical conditions in the region 🔹 Actions by...

The Iraqi dollar market is moving higher again, with the parallel-market rate in Baghdad approaching 160,000 Iraqi dinars per $100. My FX Buddies Blog On Thursday morning, September 17, Al-Kifah and Al-Harithiya exchanges opened at approximately 158,850 dinars per $100, up from 157,250 at the start of Wednesday's trading. At Baghdad currency exchange offices, the reported selling price reached approximately 159,250 dinars per $100, while the buying price was around 158,250. And the increase has been building. On September 12, the rate was around 156,350 dinars per $100. On August 19, it was approximately 154,600. So what is behind the latest move? The article points out that determining the direct cause requires additional...

Could Iraq eventually move away from paper currency altogether? https://www.myfxbuddies.com/2026/09/iraqs-radical-dinar-proposal-abolish.html A new proposal from Iraqi economic expert Safwan Qusay is putting an extraordinary idea into the currency and banking debate: instead of removing zeros or simply issuing larger denominations, Iraq could move toward electronic payment cards and eventually eliminate paper currency. Qusay argues that Iraq has approximately 106 trillion dinars issued, with around 40 trillion inside the banking system and more than 60 trillion remaining as cash outside it, according to the figures cited in the article. His proposal would give citizens time to deposit their cash...

Iraq’s Central Bank may be preparing another major step to narrow the gap between the My FX Buddies Blog link

official dollar exchange rate and the price being charged in the parallel market. According to sources cited by the Independent Press Agency, the Central Bank is considering measures to create a more disciplined and unified dollar-selling price through licensed exchange companies and authorized outlets. And one figure is getting attention: 1,320 Iraqi dinars per dollar. But what does that actually mean? The article makes an important distinction. The reported move does not mean the Central Bank is ch...

Could changes to Iraq’s relationship with the US Federal Reserve put pressure on the Iraqi dinar? https://www.myfxbuddies.com/2026/09/big-warning-for-iraq-could-losing-us.html New warnings from Iraqi economic experts are raising important questions about what could happen if Iraq were to move away from the current US financial protection surrounding its oil revenues and reserves. The experts quoted in this report say Iraq could theoretically manage its oil revenues and reserves without American protection, but they warn that a sudden transition would be extremely risky under current conditions. And this isn't simply about moving Iraqi money from one bank to...

IRAQ HAS ABOUT 81 BANKING INSTITUTIONS... BUT WHERE IS ITS GLOBAL BANKING POWER? https://www.myfxbuddies.com/2026/09/iraqs-banking-revolution-iraq-has-81.html Iraq has a large number of banks and financial institutions operating inside the country. According to this report, the banking network includes government banks, local commercial banks, Islamic banks, foreign bank branches, and representative offices. But the big question isn't simply: How many banks does Iraq have? The bigger question is: How many Iraqi banks are actually capable of competing on the international stage? The article examines the gap between Iraq's large number of banking institutions and its limited presence in...

IRAQ'S DINAR IS CHANGING?! My FX Buddies Blog After weeks of headlines about removing zeros from the Iraqi dinar, a new report suggests that the discussion may be moving in a completely different direction. According to a report from 964 Media, discussions involving members of Iraq's Parliamentary Finance Committee are reportedly focusing on changing the current Iraqi currency and issuing a new series of banknotes rather than removing zeros. The potential goals being discussed are much bigger than simply printing new notes. A currency replacement could potentially be used to: 💵 Replace worn-out banknotes 🔒 Introduce stronger security features 🚨 Remove counterfeit currency from circ...

After nearly 20 years of delays, Iraq's Oil and Gas Law may finally be https://www.myfxbuddies.com/2026/09/economists-stress-need-for-reform.html moving back toward the center of the country's political and economic agenda. For years, disagreements over the management of Iraq's oil wealth have contributed to disputes between Baghdad, the Kurdistan Region, and oil-producing governorates. Now, members of Iraq's Parliament and the Parliamentary Oil, Gas and Natural Resources Committee are signaling renewed efforts to move the legislation forward during the current parliamentary session. The Oil and Gas Law could create a clearer legal framework for: 🛢️ Managing Iraq's oil and gas resources 💰 Distribu...

Could Iraq eventually see the return of smaller currency denominations—including 50 and 100 dinar notes? https://www.myfxbuddies.com/2026/09/new-50-100-dinar-notes-heres-what-iraqs.html An Iraqi economic expert has suggested that if Iraq moves forward with changing its currency, the Central Bank of Iraq could potentially introduce new banknotes with stronger security features and denominations smaller than the current 250-dinar note. According to the expert's comments, possible denominations could include: 💵 50 dinars 💵 100 dinars 💵 Smaller units, potentially including fils However, he also stressed that the Central Bank has not made a final decision, and the government is reportedly still working through the issue. Meanwhile...

Is Iraq slowing down the plan to remove three zeros from the Iraqi dinar? https://www.myfxbuddies.com/2026/09/iraqs-3-zero-plan-hit-brakes-parliament.html After a series of recent reports discussing new Iraqi currency, redesigned banknotes, and possible legislation to remove zeros, a member of Iraq's Parliamentary Finance Committee is now emphasizing that the process cannot move forward quickly. According to the latest report, Parliamentary Finance Committee member Amer Rahim says that removing zeros from the Iraqi currency would require extensive discussions inside Parliament, along with amendments and the passage of supporting financial laws and regulations. The committee member reportedly warned that...

A small but important cash problem is developing in Kirkuk, Iraq. Merchants and residents are reporting increasing difficulty obtaining 250-dinar, 500-dinar and 1,000-dinar banknotes for everyday transactions. Some merchants say customers paying with larger notes are being asked to purchase additional items because shops don't have enough small denominations available to provide proper change. And some of the small notes that are available are reportedly torn, dirty or heavily worn. But here's where this story gets interesting. According to currency issuance data cited by Shafaq News, Iraq had approximately 1.738 billion 250-, 500- and 1,000-dinar notes in 2026 — compared with roughly 1.660 bi...

Iraq has launched the fourth edition of Banking Ready 2026, a free banking training program https://www.myfxbuddies.com/2026/09/banking-ready-2026-what-is-iraq.html designed to help young Iraqis develop professional skills and prepare for careers in the banking sector. The program is fully funded by the National Bank of Iraq and is being offered in cooperation with the Center of Excellence for Innovation and Development and the American University of Iraq – Baghdad. On the surface, this may simply look like a youth training initiative. But when we place it alongside Iraq's broader banking reforms, digital payment initiatives, efforts to strengthen financial co...

Is 2027 really the year Iraq will begin removing the three zeros from the Iraqi dinar? https://www.myfxbuddies.com/2026/08/when-will-iraq-remove-3-zeros-new-update.html A new statement from Iraqi MP Murtadha Afween provides an important update on the long-discussed currency reform project. Afween says the removal of zeros has not yet reached the implementation phase and cautions that removing zeros would not, by itself, solve Iraq's broader economic problems. However, an earlier report cited in the article stated that the Iraqi government could begin issuing a new currency with the zeros removed at the beginning of 2027. So where does the project...

Iraq's banking reforms are facing another major test -and the parallel market is refusing to disappear. https://www.myfxbuddies.com/2026/08/iraqs-dollar-gap-explodes-is-banking.html The Iraqi Central Bank has spent months changing the way foreign currency transactions are handled, strengthening banking compliance, expanding correspondent banking relationship regulating exchange companies, and working to bring more dollar transactions into the formal banking system. But the latest numbers show that a major gap remains. At the end of August, the parallel market was selling $100 for approximately 154,500 Iraqi dinars, while the Central Bank's official rate was around 131,000 dinars per $100. That's a difference of approximately 23,500 dinars — or...

Iraq's Central Bank is tightening its oversight of politically exposed https://www.myfxbuddies.com/2026/08/cbi-crackdown-iraq-tightens-controls-on.html persons, their relatives, close associates, and companies connected to them. According to documents obtained by Al-Ahd News, the Central Bank of Iraq has issued new instructions requiring banks and licensed non-bank financial institutions to strengthen due diligence and monitoring procedures involving politically exposed persons as part of broader anti-money-laundering and counter-terrorism-financing measures. The new approach reportedly requires financial institutions to assess risk based on factors including a person's position and influence, financial activity, related countries, and transaction patterns. Banks are also being instructed...

🚨 ANOTHER MAJOR DEVELOPMENT IN IRAQ'S THREE-ZERO STORY! https://www.myfxbuddies.com/2026/08/new-iraqi-currency-ready-law-to-remove.html A member of Iraq's Parliamentary Finance Committee, Mansour Al-Baiji, says the new Iraqi currency is ready and that the draft law to remove three zeros from the dinar could soon reach Parliament. If accurate, this could represent an important transition from years of studies and discussions toward a possible legislative process. But there are still some VERY important questions. According to the report, the government and Central Bank of Iraq have completed some technical preparations for the new currency, with approximately $250 million reportedly associated with the pre...