Iraq Central Bank Sets New Dollar Exchange Rates
At a Glance
- Iraq’s central bank has adjusted the dinar exchange rate against the US dollar.
- The new rates take effect on October 7, 2026.
- The cash selling rate to the public is set at 1,520 dinars per dollar.
- The bank says its foreign reserves remain sufficient to meet demand.
Through an official statement, the Central Bank of Iraq announced new exchange rates for the Iraqi dinar against the US dollar, effective Wednesday, October 7, as part of measures it says aim to support financial and economic stability.
Key Statements and Focus Area
- Ministry of Finance: "The Central Bank of Iraq reassures citizens and the entire economic sector of the sufficiency and strength of its foreign reserves." — CBI
- Banks and Public: "This positive adjustment opens up new and tangible prospects that directly serve the national economy and citizens." — CBI
- Focus: The Central Bank says the adjustment is intended to support local production, investment, and employment.
Under the new mechanism, the Central Bank will purchase dollars from the Ministry of Finance at 1,500 dinars per dollar. The selling rate to banks is set at 1,510 dinars per dollar, while the cash selling rate to the public is 1,520 dinars per dollar.
It also said the measure could support the expansion of local factories and companies and create additional employment opportunities, particularly through small and medium-sized enterprises. The bank said it will continue implementing measures aimed at protecting the stability of the financial system and serving the national economy.
FYI
The Central Bank said the new exchange rate mechanism was introduced in coordination with the Federal Government and the Council of Ministers under the Central Bank Law No. 56 of 2004, as amended.
The announcement follows the government’s decision to revise the official exchange rate used in the 2027 federal budget.
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