IRAQI DINAR POLITICS & ECONOMY

Legal researcher Ali Al-Tamimi explains the limits of Parliament’s authority regarding the new exchange rate.

Legal researcher Ali Al-Tamimi explains the limits of Parliament’s authority regarding the new exchange rate.

10-7-2026

Legal researcher Ali Al-Tamimi explained on Wednesday that Parliament has the authority to discuss and amend the exchange rate included in the budget law, but it does not have the power to directly cancel the decision issued by the Central Bank, indicating that delaying the approval of the entire budget to put pressure on the bank may raise constitutional issues. Read more…

MP: Divergent opinions delay setting a date for the cabinet reshuffle session

MP: Divergent opinions delay setting a date for the cabinet reshuffle session

10-7-2026

Information/Baghdad…
MP Inam Ala’a Al-Din confirmed on Wednesday that no specific date has yet been set for a parliamentary session to vote on the remaining ministerial portfolios in Ali Al-Zidi’s government, attributing this to the continued divergence in political positions.
Ala’a Al-Din told the Information Agency, “The Parliament has not yet set any official date for the session to complete the vacant cabinet,” noting that Read more…

Saba Al-Saadi: Reducing the salaries of senior officials saves billions and does not affect the market.

Saba Al-Saadi: Reducing the salaries of senior officials saves billions and does not affect the market.

10-7-2026

Information/Special…
MP Saba al-Saadi confirmed on Wednesday that reducing the salaries of senior and special-grade officials could save the state billions and contribute to addressing the budget deficit. She pointed out that this step had been taken previously by past governments, particularly during Haider al-Abadi’s administration.
Speaking to Al-Maalouma, al-Saadi said, “Reducing the salaries of MPs, Read more…

Iraq advances at UNESCO and secures an eighth international post for its permanent representative.

Iraq advances at UNESCO and secures an eighth international post for its permanent representative.

2026-10-07

Shafaq News – Paris
Iraq has achieved a new international presence in UNESCO, with its permanent representative to the organization, Asad Turki Sawari, assuming the presidency of the Intergovernmental Committee on the Return of Cultural Property to its Countries of Origin and the Prevention of Illicit Trafficking (ICPRCP), for the period 2026-2028.

The Permanent Delegation of Iraq to UNESCO said in a statement Read more…

Al-Shourja and “Jamila” close their shops… The rise in the dollar’s price strikes at the heart of Iraq’s economy

Al-Shourja and “Jamila” close their shops… The rise in the dollar’s price strikes at the heart of Iraq’s economy

2026-10-07

Shafaq News – Baghdad
Traders’ warehouses and shops in the Al-Shourja market, “Alwa Jamila,” and a number of money exchange and transfer companies closed their doors on Wednesday, following the Iraqi Central Bank’s decision to raise the official exchange rate of the US dollar against the Iraqi dinar from 1320 dinars per dollar to 1520 dinars.

The Al-Shourja market in the center of Baghdad is the largest and most important economic center for various goods, including food, household goods, clothing, cigarettes, and other daily necessities for the lives of citizens in Baghdad Read more…

The beleaguered Iraqi dinar

The beleaguered Iraqi dinar

2026-10-07 05:41

Ahmed Hussein
A new game is being played by the Al-Zidi government, just as it was played by the Al-Kadhimi and Al-Sudani governments before it. It is the “humiliation” of the value of the Iraqi dinar in front of the master of monetary masters, the US dollar. As usual, the victim is the Iraqi citizen. The Prime Minister and those who revolve around him, the ministers and those who revolve around them, the President of the Republic and those who revolve around him, the deputies and those who revolve around them, the Read more…

The Iraqi Ministry of Finance officially adopts 1500 dinars to the dollar and cancels the prepayment of customs duties.

The Iraqi Ministry of Finance officially adopts 1500 dinars to the dollar and cancels the prepayment of customs duties.

2026-10-07

Shafaq News – Baghdad
The Iraqi Ministry of Finance announced on Wednesday the adoption of a rate of 1,500 dinars per dollar, while deciding to stop the pre-payment of customs duties.

The ministry stated in a statement that, based on Cabinet Resolution No. (544), issued in its session held on 6/10/2026, it was decided to amend the exchange rate of the dollar against the Iraqi dinar to become (1500) dinars per dollar.

It was also decided to suspend the implementation of Cabinet Resolution No. (413) of 2026 regarding Read more…

Al-Hakim: The upcoming Iraqi budget has allocated five trillion dinars for regional development.

Al-Hakim: The upcoming Iraqi budget has allocated five trillion dinars for regional development.

2026-10-07

Shafaq News – Kirkuk
The head of the National State Forces Alliance, Ammar al-Hakim, announced on Wednesday that the 2027 budget will include an allocation of five trillion dinars for the development of the regions in Iraq.

Al-Hakim said in a press conference held after his meeting with the local government in Kirkuk Governorate that this amount will stimulate Read more…

Parliamentary move to hold an emergency session regarding the rise in the dollar exchange rate

Parliamentary move to hold an emergency session regarding the rise in the dollar exchange rate

2026-10-07

Shafaq News – Baghdad
Parliamentary circles moved to hold an emergency session to discuss the decision to raise the dollar exchange rate and to compel the government to reverse it, amid warnings of the repercussions of the decision on the Iraqi citizen and market.

Member of Parliament Ibtisam Al-Hilali said in a statement to Shafaq News Agency that she rejects the Cabinet’s decision to change and raise the exchange rate of the dollar against the Iraqi dinar, noting that the decision will Read more…

The dollar surged in Baghdad and Erbil following the implementation of the new exchange rate.

The dollar surged in Baghdad and Erbil following the implementation of the new exchange rate.

2026-10-07

Shafaq News – Baghdad/Erbil
The exchange rate of the US dollar recorded a significant increase in the markets of Baghdad and Erbil on Wednesday morning, coinciding with the start of the implementation of the decision to amend the official exchange rate, amid a state of fluctuation and instability in the parallel market.

A correspondent for Shafaq News Agency said that the dollar rose Read more…

Iraqi contractors warn Al-Zaidi: Raising the exchange rate threatens the continuation of projects

Iraqi contractors warn Al-Zaidi: Raising the exchange rate threatens the continuation of projects

2026-10-07

Shafaq News – Baghdad
On Wednesday, the Iraqi Contractors Union called on Prime Minister Ali al-Zubaidi to postpone the implementation of Cabinet Resolution No. (544) of 2026, which concerns increasing the exchange rate of the dollar against the dinar, warning of its financial repercussions on government sector contracts and projects.

The Federation said, in a letter addressed to the Prime Minister, Read more…

Following the adjustment of the official exchange rate, the real estate market in Erbil enters a freeze phase.

Following the adjustment of the official exchange rate, the real estate market in Erbil enters a freeze phase.

2026-10-07

Shafaq News – Erbil
A real estate expert in Erbil confirmed on Wednesday that the recent rise in the exchange rate of the US dollar against the Iraqi dinar has led to a freeze in the real estate market, predicting that this will be followed by a rise in the prices of investment housing units.

Sardar Azad, the owner of a real estate company in Erbil, Read more…

Iraq strengthens its presence in the Chinese market as Iranian oil supplies decline.

Iraq strengthens its presence in the Chinese market as Iranian oil supplies decline.

2026-10-07

Shafaq News – Follow-up
Independent Chinese refineries have stepped up their purchases of Iraqi oil, particularly Basra medium and heavy crude, to offset declining Iranian supplies, at a time when oil exports from Gulf producers via the Strait of Hormuz are recovering.

Traders told Bloomberg that Chinese refineries bought at least 12 million Read more…

Warnings of soaring prices… Observatory documents dollar surges in Iraq, and Baghdad’s trade sector calls for a stable environment.

Warnings of soaring prices… Observatory documents dollar surges in Iraq, and Baghdad’s trade sector calls for a stable environment.

2026-10-07

Shafaq News – Baghdad
On Wednesday, the “Eco Iraq” economic observatory documented six notable waves of increase in the dollar exchange rate in the parallel market compared to the official rate during 2026, while the Baghdad Chamber of Commerce warned of the effects of adjusting the exchange rate on import costs and market activity.

The observatory explained in a statement that parallel exchange rates recorded new record levels with each upward Read more…

Peshmerga: No air defense system has arrived in the Kurdistan Region, and what is being circulated is baseless.

Peshmerga: No air defense system has arrived in the Kurdistan Region, and what is being circulated is baseless.

2026-10-07

Shafaq News – Erbil
The Ministry of Peshmerga Affairs in the Kurdistan Region denied on Wednesday receiving an air defense system, in response to what local media outlets and social media pages had reported regarding a source in the ministry claiming that an air defense system had arrived at the ministry.

The ministry said in a statement that no official source in the Ministry of Peshmerga Affairs had made any statement in this regard, stressing that this news is completely false and we deny it Read more…

Standard Chartered: Iraq’s reserves could fall to $60 billion by year’s end

Standard Chartered: Iraq’s reserves could fall to $60 billion by year’s end

2026-10-07

Shafaq News – Follow-up
An economist at Standard Chartered Bank suggested on Wednesday that Iraq might turn to the International Monetary Fund if oil revenues continue to decline and the devaluation of the dinar fails to achieve the desired results in supporting public finances.

Carla Slim, quoted by Bloomberg, said that any potential program with the IMF could include structural reforms, particularly regarding Read more…

“The citizen’s pocket is not the solution”: Parliamentary anger over the decision to raise the dollar exchange rate

“The citizen’s pocket is not the solution”: Parliamentary anger over the decision to raise the dollar exchange rate

2026-10-07

Shafaq News – Baghdad
Hassan al-Asadi, head of the National Approach bloc, called on the government on Wednesday to reverse its decision to raise the dollar exchange rate and cancel it quickly, warning of its repercussions on various segments of society.

Al-Asadi said during a press conference held in the parliament building, attended by members of the bloc and Shafaq News Agency, that the decision to raise the dollar exchange rate will lead to “widespread damage Read more…

Badr Bloc: Iraq cannot afford four deputy prime ministers

Badr Bloc: Iraq cannot afford four deputy prime ministers

10-6-2026

Information/Baghdad…
MP Mukhtar al-Moussawi, from the Badr parliamentary bloc, criticized the political move to appoint four deputy prime ministers, pointing out that these positions consume the state budget at a time when Iraq is suffering from a financial crisis.
Al-Moussawi told Al-Maalouma, “Iraq needs radical solutions to the financial crisis it is experiencing, which necessitates not proceeding with the appointment of four deputy prime ministers.” Read more…

Oshana: The 2027 budget will be subject to parliamentary scrutiny before the official readings.

Oshana: The 2027 budget will be subject to parliamentary scrutiny before the official readings.

10-6-2026

Information/Baghdad…
MP Sami Oshana, from the Christian Suwayana bloc, revealed on Tuesday the legislative and oversight mechanism that the House of Representatives will adopt to deal with the draft federal budget law for 2027 as soon as it is sent by the government.
Oshana told the Information Agency that “the Speaker of Parliament will provide each MP with a complete official copy of the draft, including Read more…

Ministry of Finance: The dollar exchange rate has not yet been determined; the proposed rate ranges between 1400 and 1500 dinars.

Ministry of Finance: The dollar exchange rate has not yet been determined; the proposed rate ranges between 1400 and 1500 dinars.

10-6-2026

The Ministry of Finance denied on Sunday that a specific exchange rate for the US dollar had been set in the 2027 budget, while indicating that the proposed rate of 1400-1500 dinars would likely be adopted.
A statement from the ministry, reported by Al-Maalomah News Agency, quoted the Minister of Finance as saying that the exchange rate had not yet been determined and that the proposed rate ranged between Read more…