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Iraq Targets One Unified Exchange Rate
By Reset Intelligence | @EXIT_FIAT
Iraq’s government says it plans to bring the dollar’s street price in Baghdad down to 1,550 dinars in the near term, backed by the Central Bank’s reserves.
That is 30 dinars above the bank’s public rate of 1,520.
The target
The government spokesman, Haider al-Aboudi, gave the target on Wednesday and tied the Central Bank to it. He did not say how it will be done. Baghdad’s main exchanges closed Wednesday at 166,400 IQD for $100, against the bank’s 152,000. The street never traded near the old official 1,320; it was above 1,630 the day before the cut on October 7.
What moved this week
• The IMF – US Treasury Secretary Scott Bessent told the IMF it must go further on exchange rates or risk being sidelined, on the same day Iraq’s finance minister and Central Bank governor met IMF directors in Bangkok.
• The cabinet – parliament votes today on the last empty ministries and four deputy prime ministers.
• The budget – today is the legal date for the 2027 budget to reach parliament. Its draft is written at 1,500 to the dollar.
• Food prices – Baghdad reopened imports of potatoes, tomatoes and onions to bring prices down.
• Riyadh – Prime Minister Ali al-Zaidi met Crown Prince Mohammed bin Salman and repeated that Iraq’s territory should not be used to attack the kingdom.
• Hormuz – two ships sank near the strait in 24 hours, the first sinkings since March.
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The question
Why 1,550, and why now? And what does one exchange rate mean for the dinar you hold?
That is the short version. Where the number comes from, what the IMF has asked of Iraq since 2017, and what one rate means for the IQD and the RV – that is the daily read.
Read the full daily briefing free for 5 days. Sign up here: the daily Iraqi dinar briefing
Want it straight from the horse’s mouth? The CBI Rate Alert pings you the moment the Central Bank of Iraq moves the official rate. The number itself, not a rumour about it. It comes with our free resource library and the daily breakdown of what is actually moving in Iraq. Sign up free: The CBI Rate Alert
Got a dinar question? Reset Intelligence runs an on-call research assistant: ask it anything they have published. It answers in seconds and will conduct deep research to find you the answer. Try it: the Iraqi dinar research assistant
Common questions, answered straight: When will the Iraqi dinar revalue? and Is the Iraqi dinar revaluation real?
The design behind all of it is mapped in Head of the Snake, and the free guides live in the Iraqi dinar resource library.
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