Exclusive: The decision to raise the dollar’s value was approved by political leaders before its announcement.
Exclusive: The decision to raise the dollar’s value was approved by political leaders before its announcement.
2026-10-08
Shafaq News – Baghdad
A government source confirmed on Thursday evening that the decision to raise the official dollar exchange rate had been discussed and approved during recent meetings between political forces and the Prime Minister.
The source explained to Shafaq News Agency that “the financial crisis file was present in all official government meetings with political forces, whether they were individual meetings with some party and political leaders or expanded meetings with all forces.”
He added that “those meetings resulted in proposals to address the financial crisis, including raising the dollar exchange rate, in addition to boosting the state treasury’s financial revenues.”
He stressed that “the proposal received the support and approval of the leaders of the political forces, after they were convinced that raising the exchange rate of the dollar would achieve a profit margin that would cover the deficit in the country’s general budget.”
The Cabinet had decided in its session last Tuesday, October 6, that the price of buying dollars from the Ministry of Finance would be 1,500 dinars, and selling them to banks at 1,510, and to the end beneficiary at 1,520 dinars, compared to 1,320 dinars previously, i.e. an increase of 20,000 dinars per 100 dollars.
The sudden rise in the exchange rate led to confusion in the markets, with difficulty in determining buying and selling prices and repricing goods.
shafaq.com
