To ensure the flow of goods, the Central Bank of Iraq reassures markets of the continued availability of foreign currency for imports.
To ensure the flow of goods, the Central Bank of Iraq reassures markets of the continued availability of foreign currency for imports.
2026-10-20
Shafaq News – Baghdad
The Central Bank of Iraq confirmed on Tuesday that it has completed fulfilling requests for money transfers related to imports, which were suspended before the exchange rate adjustment on October 10, and which met the approved conditions and controls.
In an official statement, the bank called on traders and companies covered by these requests to check with their banks to ensure that their foreign transfers have been carried out. In the event that any transfer is delayed without justification, or if they are asked for additional amounts contrary to the approved regulations, they should file a complaint through the electronic complaints platform of the Central Bank of Iraq, and the bank will take the necessary measures against the violating banks.
He affirmed his continued monitoring of banks’ commitment to implementing transfers in accordance with applicable regulations and instructions, assuring traders, companies, and citizens that import financing will continue regularly, and that foreign currency will be made available through banks to cover requests that meet the requirements, thus contributing to the sustainability of trade and ensuring the flow of goods to local markets.
In this context, the Central Bank of Iraq directed the Iraqi Trade Bank, as well as other private banks, to increase official working hours and continue working during official holidays, to ensure that the implementation of foreign transfers for customers is not delayed.
According to a document issued by the Banking Supervision Department of the Central Bank of Iraq, which was received by Shafaq News Agency, it was decided to increase official working hours and continue working during official holidays from October 1, 2026 until November 30, 2026, with the aim of enhancing the implementation of foreign transfers for customers and ensuring their completion without delay.
Based on a decision by the Council of Ministers, the Central Bank of Iraq decided to amend the exchange rate of the dinar against the dollar, so that the selling price of the dollar to the public would be 1520 dinars, compared to 1510 dinars for banks and 1500 dinars for the purchase price of the dollar from the Ministry of Finance, effective from October 7, 2026.
As a result, the prices of a number of food items in Iraqi markets witnessed a significant increase, while some traders immediately raised the prices of goods, while others preferred to stop selling until market developments became clear.
A week after the decision to adjust the exchange rate, the Iraqi Ministry of Agriculture announced the opening of imports for the following agricultural crops: potatoes, tomatoes, and onions, in addition to suspending the collection of customs duties and taxes imposed on imported eggs, chickens, and live meat products.
shafaq.com
