DINAR REVALUATION
Friday, March 13, 2026
Drone incidents reported across 14 Iraqi provinces in latest escalation
A wave of drone strikes and attempted attacks has affected large parts of Iraq in recent days, with incidents reported in at least 14 of the country’s 19 provinces, according to security sources, local officials, and statements from the US-led Global Coalition.
Coalition officials said their forces intercepted most of the drones targeting US installations, while debris from downed aircraft fell across several provinces, injuring civilians in some locations. Other drones appear to have reached their intended targets, including facilities linked to Iraq’s Popular Mobilization Forces (PMF), the Iraqi Army, and foreign military bases.
The incidents represent one of the widest geographic spreads of drone activity recorded in Iraq in recent years, affecting military installations, oil infrastructure, and diplomatic facilities across both federal Iraq and the Kurdistan Region.
How The Information Was Compiled
The following list is based on security briefings, local government statements, and reports from field sources collected by Shafaq News between March 1 and March 13.
Some locations represent confirmed strikes, while others involve intercepted drones or debris that fell after air defenses engaged incoming aircraft.
Officials have not released a full official list of targeted locations.
Main Strike Patterns
Analysis of the incidents indicates four primary target categories:
· US and coalition military facilities.
· PMF headquarters and bases linked to resistance factions.
· Strategic infrastructure, including oil fields.
· Iranian opposition parties.
Several incidents also occurred near civilian areas after drones were intercepted by air defenses, causing debris to fall across residential neighborhoods and open land.
Provinces Reporting Drone Incidents
Western Iraq – Al-Anbar
Reported incidents include:
• PMF headquarters in Al-Qaim district near the Syria border.
• A second PMF site near the border strip in Al-Qaim.
• Facilities linked to armed factions in Akashat.
• Locations linked to armed factions in Fallujah.
• Positions in Al-Karma and Al-Saqlawiyah.
• An Iraqi Army installation in Al-Nukhayb.
The region hosts several logistical routes used by armed groups operating between Iraq and Syria.
Northern Iraq – Nineveh and Kirkuk
In Nineveh province, several sites linked to PMF brigades and resistance factions were reported among the targets:
• PMF 50th Brigade headquarters in Batnaya.
• PMF 30th Brigade headquarters in Bartella.
• Locations linked to factions in the Nineveh Plain.
• Positions near Al-Qayyarah.
• An Iraqi Army site in Makhmour.
In Kirkuk province, incidents were reported at:
• A PMF headquarters in the Badr neighborhood.
• A PMF site between Bashir and Tuz Khurmatu.
Read more: Iraq’s oil lifeline under pressure: US-Iran war reshapes Baghdad’s economic calculus
Central Iraq – Baghdad and Babil
Several high-profile sites were linked to the wave of incidents in Baghdad:
• The US Embassy in Baghdad’s Green Zone
• A US diplomatic logistics facility at Baghdad International Airport
• Camp Saqr, a major PMF site south of Baghdad
In Babil province, a PMF facility in Jurf al-Nasr (Jurf al-Sakhr) was also listed among reported targets.
Southern Iraq
Reported incidents extended into southern provinces:
Basra
• Basra Operations Command
• Majnoon oil field
• Al-Bargesia energy facilities
Dhi Qar
• Imam Ali Airbase
Maysan
• An Iraqi Army border checkpoint
Al-Muthanna
• A desert area near Al-Samawah
Kurdistan Region
Several incidents were reported around military and energy facilities in the Kurdistan Region.
Erbil
• Harir Base, hosting US forces
• Erbil International Airport, where coalition troops operate
• US Consulate compound
• An Italian military base
• A joint Peshmerga–French forces base
Energy infrastructure and facilities linked to Iranian Kurdish opposition groups (Komala, PJAK, KDPI) were also reported among possible targets.
Al-Sulaymaniyah
• Headquarters of Iranian Kurdish opposition groups
• Peshmerga headquarters affiliated with the Patriotic Union of Kurdistan
Halabja
• Telecommunications towers near the city
Duhok
• Oil infrastructure linked to foreign companies
Read more: Caught between war and neutrality: Kurdistan navigates escalating US-Iran confrontation
The distribution of reported targets suggests that the incidents were not randomly scattered across Iraq but concentrated along several strategic corridors, including the Syria–Iraq border region, a belt of Popular Mobilization Forces deployments across northern provinces, and key coalition military installations in Baghdad and the Kurdistan Region. Such patterns often reflect attempts to pressure supply routes, operational bases, and foreign military presence simultaneously.
Casualties and Damage
Factions operating under the Islamic Resistance in Iraq (IRI) said Wednesday that their attacks had killed 13 American personnel and wounded dozens more over the past 12 days. US officials have not confirmed the claim.
US Central Command (CENTCOM) said Thursday that an American KC-135 aerial refueling aircraft involved in the ongoing operation against Iran crashed in Iraq. All six crew members on board the aircraft have been confirmed deceased. Meanwhile, the IRI said it had targeted the KC-135 aircraft west of Iraq, stating that it was hit but managed to withdraw and make an emergency landing at a US military facility.
The group’s affiliated Sabereen News channel on X also published mourning notices for at least 12 fighters during the same period. The announcements did not specify which factions the fighters belonged to within the Islamic Resistance network or whether they were serving in units formally incorporated into the Popular Mobilization Forces (PMF).
Elsewhere, six French soldiers were reported injured in Erbil during attacks on coalition facilities. French President Emmanuel Macron later announced the death of a French soldier linked to operations in the area, though it remains unclear whether the casualty was among those previously reported wounded.
The Popular Mobilization Forces said their headquarters in several provinces had been struck by 32 airstrikes since the beginning of the month, leaving 27 members dead and 50 others wounded.
In the Kurdistan Region, Karzan Sherko, spokesperson for the Asayish security forces, said one member of the Iranian Kurdish opposition group Komala was killed and another injured in the village of Zargwezala in Al-Sulaymaniyah province. A drone attack targeting Erbil International Airport on March 7 killed one member of the Asayish and wounded three others, according to Kurdish security officials.
Read more: Iran’s denial vs. proxy escalation: Iraq caught between diplomacy and battlefield reality
Who May Be Responsible?
Responsibility for many of the incidents remains unclear.
Iran has said it carried out operations targeting Iranian Kurdish opposition groups based in Iraq’s Kurdistan Region.
No actor has formally claimed responsibility for the strikes on PMF or resistance-linked sites elsewhere in Iraq. Some Iraqi security sources have suggested the United States or Israel may have conducted the attacks, although neither country has confirmed involvement.
Meanwhile, factions operating under the Islamic Resistance in Iraq umbrella say they have carried out more than 200 attacks on US military facilities in Iraq during the current escalation.
SANDY INGRAM: Iraq Currency Update Amid Iran Conflict: Stability, Risks, and Investment Insights
Iraq Currency Update Amid Iran Conflict: Stability, Risks, and Investment Insights
Disturbing news is emerging from the Middle East, and while Iraq is not officially involved in the current conflict, the country is feeling the indirect effects of regional instability.
According to boots-on-the-ground sources, Iran-backed militants within Iraq have been targeted by U.S. forces, highlighting the ongoing tension between regional powers.
For investors and followers of the Iraqi dinar (IQD), understanding these developments is critical, as war and conflict can influence currency movements, liquidity, and economic stability.
The Conflict: Iraq’s Indirect Involvement
Sandy Ingram recently reported:
“Iraq is not in this war, not officially, but they have been attacked by both Iran and the United States. Yes, you heard me right. The US targeted Iran-backed militants in Iraq... [I] warned you this could happen. They are feeling the pain from the decision not to disarm militants within their country.”
Key Takeaways
Iraq faces spillover effects from the Iran-US conflict
Targeted militant groups could threaten local security and oil infrastructure
Stability in Iraq is vulnerable, even if the country is officially neutral
Currency Impact: Iran, Iraq, UAE, and Saudi Arabia
War often causes significant fluctuations in currencies, but not all countries are equally affected.
Iran: Collapsing Currency
Sanctions and conflict have put severe pressure on the Iranian rial, causing sharp declines in value.
Iraq: Mostly Stable but Vulnerable
The Iraqi dinar remains relatively stable. However, oil disruptions and regional instability could make it vulnerable to sudden shocks.
UAE & Saudi Arabia: Pegged Stability
Currencies in the United Arab Emirates (dirham) and Saudi Arabia (riyal) remain stable, largely because they are pegged to the US dollar.
This suggests that despite conflict, Iraq’s currency is not as immediately impacted as initially feared, but vigilance is required.
Why Iraq’s Currency Could Still Be at Risk
Even though the dinar remains mostly stable, several factors could affect its value:
Oil Infrastructure Threats
Attacks or disruptions could impact Iraq’s largest source of revenue, affecting fiscal stability.Militant Activity
Groups operating within Iraq create security concerns and undermine investor confidence.Regional Tensions
The ongoing Iran-US conflict increases uncertainty in Iraq’s political and economic environment.Liquidity and Banking Concerns
As previously reported, citizens withdrawing cash or holding large amounts of physical dinar outside banks can influence financial stability.
Featured Snippet: Iraq Dinar Stability Amid Regional Conflict
Is Iraq’s currency at risk due to Iran-US tensions?
The Iraqi dinar remains mostly stable, but indirect impacts from regional conflict, oil disruptions, and security risks could influence its value. Unlike Iran, Iraq’s economy has so far withstood immediate currency shocks.
Q&A: What Dinar Investors Should Know
How does war affect Iraq’s currency?
War indirectly affects Iraq through oil price volatility, security threats, and investor confidence, even if Iraq is not directly involved.
Is the dinar safe for investment right now?
Currently, the dinar shows relative stability, but investors should monitor geopolitical developments, particularly oil infrastructure and regional tensions.
Could Iraq experience a sudden currency fluctuation?
Yes. Sudden attacks on infrastructure, spikes in militant activity, or major regional escalations could impact liquidity and confidence in the dinar.
How do UAE and Saudi currencies remain stable?
These currencies are pegged to the US dollar, insulating them from immediate regional conflict risks.
Final Thoughts
The situation in Iraq highlights the delicate balance between regional geopolitics and economic stability.
While the Iraqi dinar is currently mostly stable, indirect effects from Iran-US tensions remind investors that risk is always present in currency markets.
Monitoring both political developments and economic fundamentals is essential for anyone tracking the dinar and other regional currencies.
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Sandy Ingram
Disturbing news. I'm sorry guys, I'm only reporting news that could directly affect us or Iraq. Iraq is not in this war, not officially, but they have been attacked by both Iran and the United States.
Yes, you heard me right. The US targeted Iran backed militants in Iraq...[I] warned you this could happen...They are feeling the pain from the decision not to disarm militants within their country.
War always brings about opportunity and loss when it comes to currency investments.
Here's the general summary on the currencies of the countries involved. Iran: Currency is collapsing due to war and sanctions. IRAQ: Mostly stable but vulnerable because of oil disruptions. UAE & Saudi Arabia: Stable because their currencies are pegged to the US dollar...This conflict is not affecting currencies as much as we believed...
THE MINISTRY OF FINANCE IS EXPLORING ECONOMIC REFORMS AND WAYS TO BOOST NON-OIL REVENUES
THE MINISTRY OF FINANCE IS EXPLORING ECONOMIC REFORMS AND WAYS TO BOOST NON-OIL REVENUES
Finance Minister Taif Sami directed on Wednesday that non-oil revenues be strengthened. The ministry said in a statement that “Minister of Finance, Taif Sami, chaired today the periodic meeting of the ministry’s advisory board, in the presence of the advisor and the directors general of the ministry and its formations,” indicating that “during the meeting, financial and economic reforms were reviewed and discussed,
with a focus on evaluating the institutional performance of the past period and developing plans to raise the efficiency of administrative and financial work in line with the directions aimed at achieving financial stability in the country.”
She added that “the meeting witnessed discussions on vital issues, foremost among them the axis of maximizing public revenues.” The minister stressed “the need to intensify efforts and push towards enhancing non-oil revenues in accordance with a modern vision that adopts digital transformation.” She stressed “the importance of joint coordination between the ministry’s departments towards a comprehensive structural reform that ensures the sustainability of financial resources and directs them towards the most important development sectors.”
FIREFLY: Iraq Liquidity Crisis: Are Citizens Withdrawing Cash Ahead of a Possible Dinar Revaluation?
Iraq Liquidity Crisis: Are Citizens Withdrawing Cash Ahead of a Possible Dinar Revaluation?
A new boots-on-the-ground report from Iraq is raising serious concerns about liquidity in the Iraqi banking system.
According to local sources, Iraqi citizens are withdrawing large amounts of cash from banks, creating pressure on financial institutions and highlighting deeper issues within the country's monetary system.
This development could become a critical factor in the long-discussed Iraqi dinar currency reform.
Boots on the Ground Report From Iraq
Recent local reports describe a growing financial concern inside Iraq.
FIREFLY (Local Iraqi Source)
“Television shows us about our cash liquidity crisis. They're saying the citizens of Iraq are now starting to take their money out of the banks. They're doing it in large amounts and they're doing it very quickly... There's a few banks here having trouble funding us cash.”
This statement suggests that confidence in the banking system may be weakening , which can rapidly escalate into a liquidity crisis if not addressed.
Why Iraq Is Facing a Liquidity Problem
Liquidity refers to how easily banks can provide cash to customers when withdrawals increase.
When too many people withdraw funds at the same time, banks may struggle to meet demand.
In Iraq’s case, several structural factors contribute to this issue:
1. Heavy Cash Economy
Iraq has long relied on physical cash instead of digital banking.
2. Low Trust in Financial Institutions
Many citizens historically prefer keeping savings outside banks.
3. Political Uncertainty
Government formation delays and political disputes can trigger financial caution among the public.
4. Currency Reform Speculation
Expectations surrounding changes to the dinar can cause people to move their money.
Frank26 Analysis: Raise the Value of the Currency
Financial analyst Frank26 responded strongly to the liquidity concerns.
FRANK26
“Yeah, you have a serious liquidity issue. Very serious. You need to raise the value of your currency… I don't blame the Iraqi citizens one bit for doing this. There are consequences for not raising the value.”
The argument here is that strengthening the Iraqi dinar could help stabilize the financial system and restore confidence among citizens.
Whether or not such a move is imminent remains uncertain, but the pressure on policymakers continues to grow.
The Hidden Risk of a Cash Withdrawal Wave
If large numbers of citizens remove funds from banks, several problems can emerge.
Reduced Bank Lending
Banks rely on deposits to issue loans. Fewer deposits mean less lending for businesses and consumers.
Weak Economic Growth
When credit slows down, investment and economic expansion can decline.
Financial Instability
Persistent withdrawals could lead to bank funding shortages, which appears to already be occurring in some institutions.
The 100 Trillion Dinar Issue
One of Iraq’s biggest financial challenges is the enormous amount of cash circulating outside the banking system.
Estimates suggest:
Over 100 trillion Iraqi dinars exist in physical cash
A large percentage is stored in homes instead of banks
This weakens the country’s credit and financial infrastructure
This is why Iraqi officials have repeatedly discussed monetary reforms designed to encourage citizens to return money to the banking system.
Could Currency Reform Help Solve the Crisis?
Many financial observers believe Iraq’s planned monetary reforms could help address the liquidity problem.
These reforms may include:
Modernizing the banking sector
Expanding digital payments
Reducing dependence on cash
Implementing the long-discussed “delete the zeros” project
Such changes could potentially rebuild trust in the financial system and stabilize liquidity.
Featured Snippet: Why Are Iraqis Withdrawing Money From Banks?
Why are Iraqi citizens withdrawing cash from banks?
Iraqi citizens are reportedly withdrawing money due to concerns about banking liquidity, economic uncertainty, and speculation about possible currency reforms. This behavior reflects limited trust in the banking system and Iraq’s heavy reliance on cash transactions.
Q&A: Iraq Banking Liquidity and the Dinar
What is a liquidity crisis?
A liquidity crisis happens when banks do not have enough readily available cash to meet withdrawal demands from customers.
Why do Iraqis prefer cash?
Many citizens distrust banks due to past instability and prefer holding physical cash at home.
Could this affect the Iraqi dinar?
Large cash withdrawals highlight weaknesses in the banking system, which policymakers may try to address through economic or monetary reforms.
Is a dinar revaluation guaranteed?
No. Currency changes depend on economic fundamentals, political stability, and decisions by Iraq’s central bank.
Final Thoughts
The reports of rising cash withdrawals from Iraqi banks highlight ongoing challenges within Iraq’s financial system.
A strong banking sector is essential for economic growth, investment, and long-term stability.
Whether through banking reforms, digital financial systems, or broader economic policies, Iraqi leaders will likely need to act carefully to restore public confidence and ensure financial stability.
For those following Iraq’s economic transformation, these developments are another important piece of the puzzle.
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Stay connected for breaking news, analysis, and updates about Iraq’s economy and the dinar.
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Frank26
[Iraq boots-on-the-ground report]
FIREFLY: Television shows us about our cash liquidity crisis. They're saying the citizens of Iraq are now starting to take their money out of the banks. They're doing it in large amounts and they're doing it very quickly...There's a few banks here having trouble funding us cash.
FRANK: Yeah, you have a serious liquidity issue. Very serious. You need to raise the value of your currency...I don't blame the Iraqi citizens one bit for doing this. There are consequences for [Not raising the value].
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