Salmaniya Currency Market: Rumors behind dollar fluctuations… we expect it to decline this week
Salmaniya Currency Market: Rumors behind dollar fluctuations… we expect it to decline this week
2026-06-27
Shafaq News – Sulaymaniyah
The spokesman for the dollar market in Sulaymaniyah, Jabbar Goran, confirmed on Saturday that the fluctuation in the value of the Iraqi dinar against the dollar during the past few days was a result of the circulation of incorrect rumors, while he expected the exchange rate of the dinar to improve during the current week.
Goran told Shafaq News Agency that “the instability in the exchange rate of the dinar against the dollar was due to the spread of some inaccurate rumors, but the Central Bank of Iraq denied all the news circulating about making any change in the exchange rate of the dinar.”
He added that “discussions between the Kurdistan Regional Government and the Federal Government regarding the implementation of the (ASYCUDA) system are still ongoing, and a draft agreement on the system was signed earlier,” indicating that “the full implementation of the system at border crossings would positively impact the stability of the dinar exchange rate.”
Goran noted that “expectations indicate an improvement in the value of the Iraqi dinar against the dollar during this week, in light of the continued measures aimed at regulating trade and financial transfers.”
Over the past few days, the exchange rate has risen sharply in Iraq as a result of the local market being affected by media reports and speculations indicating the federal government’s intention to adjust the official exchange rate from 132,000 to 160,000 per 100 dollars in order to cover the deficit and finance monthly salaries, against the backdrop of financial pressures resulting from regional tensions and the impact on energy supply chains.
In response to market concerns, the Central Bank of Iraq quickly refuted these reports, affirming in a statement its firm commitment to maintaining the stability of the exchange rate and meeting the legitimate demand for foreign currency, categorically denying any intention to adjust the current rate given the strength of foreign reserves.
The Central Bank of Iraq explained that its reform efforts have reached their final stages to gradually reintegrate banks that were prohibited from dealing in dollars into the external transfer system after they met international standards and anti-money laundering requirements, in conjunction with raising the ceilings for electronic payment cards for companies and businesses to support financial inclusion, stressing that the management of the cash file is done in full compliance with the global financial system.
Despite official assurances, local markets are showing cautious behavior, reflected in the slowing pace of the dollar’s decline; an indication that restoring full confidence in daily transactions requires a longer timeframe to overcome the effects of speculation and rumors that have disrupted supply and demand.
shafaq.com
