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 wave, indicating that the most prominent milestones of the rise began in January with the price reaching about 150,400 dinars per 100 dollars, then exceeded 155,000 dinars in March.
The statement added that the price reached about 156,000 dinars in April, and continued its rise in June to 157,250 dinars, then rose again in September, exceeding 157,000 dinars and approaching the 160,000 mark, before breaking this barrier in October, recording 168,000 dinars per 100 dollars, which is the highest level during the year.
“Eco Iraq” warned of the widening gap between the official and parallel exchange rates, and the resulting increase in import costs, decline in purchasing power, and the impact on the prices of goods and services, calling for controlling speculation and enhancing the flow of foreign currency through official channels.
In the same context, the Baghdad Chamber of Commerce is following with great interest the Cabinet’s decision regarding the adjustment of the Iraqi dinar exchange rate against the dollar, and the potential repercussions on market activity and commercial and economic activity in the country.
In an official statement, the head of the Baghdad Chamber of Commerce, Firas Rasoul Al-Hamdani, warned that any change in the exchange rate represents a direct “influential factor” in the costs of imports and the prices of goods and services, especially since a wide segment of traders are linked to financial obligations and commercial contracts with companies and suppliers outside Iraq, stressing that the matter requires providing a stable and clear environment that enables the private sector to plan and make its decisions on sound economic foundations.
Al-Hamdani added that the current stage requires a comprehensive study of the implications of the decision, taking into account the conditions of local markets and the purchasing power of citizens, as well as the obligations of traders, importers and various economic sectors.
He noted that the Chamber emphasizes the importance of having clear transitional procedures that allow the business sector to adapt to any change in the exchange rate, and avoid disruptions or unjustified increases in commodity prices, while enhancing coordination between government agencies and the private sector.
Al-Hamdani expressed the Baghdad Chamber of Commerce’s readiness to cooperate with the government and relevant economic and banking authorities, and to provide observations and suggestions that contribute to maintaining market stability, protecting commercial activity, and enhancing confidence in the economic and investment environment, stressing that the stability of the exchange rate and financial and monetary policies represents one of the basic pillars for market stability.
The Iraqi Cabinet decided in its regular session on Tuesday to amend the exchange rate of the dollar based on an emergency recommendation submitted by the Minister of Finance and the Governor of the Central Bank, so that the purchase price from the Ministry of Finance would be (1500) dinars, the selling price to banks would be (1510) dinars, and the selling price to the end beneficiary would be (1520) dinars per dollar.
Under the new amendment, the Central Bank raised the exchange rate for the public by 20,000 dinars per 100 dollars, compared to the previous rate of 1,320 dinars per dollar (132,000 dinars per 100 dollars), at a time when the parallel market witnessed jumps prior to the decision to reach about 165,000 dinars per 100 dollars, influenced by leaks and expectations.
shafaq.com
