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Business

Iraq confirms new dinar exchange-rate structure

The Central Bank of Iraq has confirmed a roughly 15% devaluation, setting new official dollar rates from 7 October.

By Iraq Times Newsroom8 Oct 2026, 00:00

Iraq confirms new dinar exchange-rate structure

The Central Bank of Iraq (CBI) confirmed that the dinar’s official exchange-rate structure was changed with effect from 7 October. The bank set the Ministry of Finance’s dollar purchase rate at 1,500 dinars per US dollar, the rate for banks at 1,510, and the cash-sale rate for the public at 1,520.

The CBI said the move is intended to strengthen domestic industry and the competitiveness of Iraqi products against imports, while encouraging investment in non-oil productive sectors. It also said its reserves remain sufficient to meet trade-finance transfers, payment-card settlements and travellers’ cash-dollar demand.

Original reporting: Iraq Business News ↗