At a Glance

• Iraq’s parliament has postponed its scheduled agenda for Wednesday.
• Finance Minister and Central Bank Governor are expected to appear before parliament on Thursday.
• Lawmakers will discuss recent changes to the official dollar-to-dinar exchange rate.
• The developments come amid volatility in Iraq’s currency markets, with the $100 rate reportedly approaching 170,000 dinars.

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Iraq’s Council of Representatives has postponed its scheduled agenda and will instead hold discussions on changes to the dollar-to-dinar exchange rate, according to parliament’s media office.

The Finance Minister and Governor of the Central Bank of Iraq are expected to appear before lawmakers on Thursday to address the changes.

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Key Statements

“Today’s agenda has been postponed.”

— Dr. Bryar Rashid, member of Iraq’s Council of Representatives, told Channel 8

“Tomorrow, the Finance Minister and the Governor of the Central Bank will be invited to the Council of Representatives.”

— Dr. Bryar Rashid

“The changes that have been made to the official dollar exchange rate will be discussed.”

— Dr. Bryar Rashid

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Parliament Shifts Agenda

Iraq’s parliament announced that its scheduled business for Wednesday had been postponed, with the session instead expected to focus on developments surrounding the dollar exchange rate.

Rashid told Channel 8 that Finance Minister and Central Bank Governor would be invited to parliament on Thursday to explain the changes made to the official exchange rate.

Reported Official Rate Change

The parliamentary Finance Committee had previously announced that the official rate for $100 could rise to 150,000 Iraqi dinars.

That announcement triggered volatility across currency markets in Iraq and the Kurdistan Region.

The $100 rate has reportedly approached 170,000 dinars in the market, reflecting a significant gap between the reported official rate and prevailing market prices.

The 150,000-dinar figure should be treated as a reported or proposed official rate pending confirmation by the relevant monetary authorities.

FYI

The parliamentary discussion comes amid heightened sensitivity over Iraq’s exchange-rate policy and the widening gap between official and market currency prices. Any formal change to the official rate would have implications for import costs, consumer prices, government finances and the purchasing power of the Iraqi dinar.

The appearance of the Finance Minister and Central Bank Governor could provide greater clarity on whether the reported 150,000-dinar rate represents a confirmed policy change, a proposed adjustment, or a figure under parliamentary consideration. The distinction is important because the Central Bank of Iraq has previously maintained that exchange-rate policy is determined through its monetary framework.

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