At a Glance:

• The Central Bank of Iraq (CBI) on Saturday refuted widely circulating rumors regarding plans to increase the official USD/IQD exchange rate.
• CBI Media Director Haider Ghazi reaffirmed that the official exchange rate remains fixed, dismissing claims that deposits or official transactions would be repriced to 1,460 IQD per dollar.
• The central bank cautioned that false reports aim to destabilize financial markets, urging media platforms and the public to verify information via official channels.
• The CBI's official selling rate stands unchanged at 1,310 IQD per USD for commercial operations and transfers.

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The Central Bank of Iraq (CBI) issued a firm denial on Saturday, September 5, 2026, rejecting unverified reports and social media claims that federal monetary authorities intend to devalue the Iraqi dinar against the US dollar. Reaffirming its official policy baseline, the CBI confirmed that no adjustments to the exchange rate have been enacted, describing circulated rumors of a rate hike to 1,460 IQD as unfounded attempts to destabilize local currency markets.

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Key Statements and Focus Area:

• Central Bank of Iraq (CBI) Official Statement (Carried via State Media):
  "Reports claiming an intention to raise the exchange rate of the US dollar are completely unfounded. No decision has been issued in this regard, and the official exchange rate approved by the Central Bank has undergone no change. We urge all news outlets and social media users to exercise accuracy and rely exclusively on official sources for monetary policy updates."
• Haider Ghazi, Media Director of the Central Bank of Iraq:
  "The rumors suggesting a rate shift to 1,460 dinars per dollar are designed to create market anxiety and undermine economic stability. The bank maintains its established exchange rate framework, and operational indicators remain grounded in official standards."

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Official vs. Parallel Market Currency Benchmarks

Exchange Framework	Benchmark Rate (IQD per $1 USD)	Policy / Operational Status
Budgetary Base Rate	1,300 IQD	Government fiscal accounting baseline
CBI Official Bank Rate	1,310 IQD	Standard rate for commercial bank foreign transfer sales
Parallel Market (Baghdad)	~1,547 IQD (154,750 per $100)	Unofficial exchange bureau rate (subject to continuous market changes)
Parallel Market (Erbil)	~1,540 IQD (154,000 per $100)	Unofficial regional exchange rate (subject to continuous market changes)

Social Media Rumors and CBI Clarification

The central bank's statement followed a wave of digital posts claiming that starting September 6, official financial institutions would adjust dollar conversion pricing to 1,460 IQD per USD. Rebutting the speculative claims, the CBI clarified that monetary policy remains firmly anchored to the structural framework established alongside the Ministry of Finance.CBI officials highlighted that foreign exchange reserves and trade processing mechanisms remain stable, preventing the need for currency devaluations.

Monetary Control and Market Volatility

The CBI continues to manage the structural spread between official bank transfer rates and informal exchange markets. While local exchange bureaus in Baghdad, Erbil, and Basra traded between 1,540 and 1,547 IQD per dollar on Saturday, central bank regulators reiterated that official trade imports and foreign transfers continue to be processed at the pegged rate. Regulators warned that spreading forged notices or unauthorized policy claims would trigger legal oversight to preserve financial system security.

FYI

By immediately countering exchange rate rumors, the CBI aims to prevent speculative hoarding and artificial inflation spikes across local consumer markets. Maintaining a firm peg at 1,310 IQD reinforces the government's commitment to fiscal continuity, though persistent parallel market spreads highlight the ongoing challenge of meeting cash-dollar demand outside official banking channels.

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