🇮🇶💵 IRAQ IS TAKING A MAJOR STEP TOWARD ELIMINATING THE PARALLEL DOLLAR MARKET

 🇮🇶💵 IRAQ IS TAKING A MAJOR STEP TOWARD ELIMINATING THE PARALLEL DOLLAR MARKET

🚨 This is an important development that deserves attention.

According to a report published on September 14, 2026, the Central Bank of Iraq (CBI) is preparing additional measures aimed at reducing the enormous gap between Iraq's official dollar exchange rate and the price of the dollar in the parallel market.

The objective is clear:

👉 Bring the price of the dollar paid by citizens and businesses closer to the official rate of 1,320 IQD per USD.

And this is NOT being described as a change to the official exchange rate.

Instead, the CBI is reportedly working on controlling the way dollars are distributed, strengthening supervision of exchange companies, increasing the availability of dollars through official channels, and reducing the speculation that has pushed the parallel-market rate so far away from the official level.

📌 WHAT IS HAPPENING?

The CBI is reportedly considering a more disciplined and unified selling price for dollars through licensed exchange companies and authorized financial institutions.

The measures could include:

🔹 Greater supervision of exchange companies
🔹 Stronger monitoring of dollar buying and selling
🔹 More control over the movement and sources of foreign currency
🔹 Increased access to dollars through official channels
🔹 Better fulfillment of legitimate demand
🔹 Reduced speculation and arbitrage
🔹 Bringing the end-user exchange rate closer to 1,320 IQD per USD

The CBI has also continued taking action against companies that violate its regulations, including withdrawing licenses and increasing compliance requirements.

💵 THE GAP IS STILL HUGE

On September 14, 2026, the dollar was reportedly selling in parts of Baghdad at approximately:

157,000 IQD per $100

While the official end-user level is approximately:

132,000 IQD per $100

That represents a difference of roughly:

🔥 25,000 IQD per $100

That gap is exactly what the CBI is now trying to reduce.

And this is where I believe the bigger story begins. 👇

🧠 MY OPINION

In my opinion, this step is necessary if Iraq eventually wants to eliminate the parallel currency market.

Think about it.

As long as there is a huge difference between the official exchange rate and the parallel-market rate, there will always be an incentive for people to operate outside the official system.

Why would the CBI be able to completely control the currency market while a parallel market can offer dollars at a dramatically different price?

It would be extremely difficult.

That's why I believe the CBI must first attack the gap itself.

Not simply announce a new exchange rate.

Not simply talk about currency reform.

But actually change the structure of the market.

The dollar has to become available through legitimate official channels.

Exchange companies have to operate under tighter controls.

Speculation has to become less profitable.

And most importantly, the average citizen and legitimate business must be able to obtain dollars through the official financial system without being forced into the parallel market.

🔎 MY ANALYSIS: WHY THIS MATTERS

This is how I see the broader sequence.

🇮🇶 STEP 1 — Strengthen the financial system

Iraq continues working toward a more modern banking and financial system, with greater transparency and stronger regulatory controls.

⬇️

🇮🇶 STEP 2 — Control the foreign-currency channels

The CBI increases oversight of banks, exchange companies, transfers and dollar distribution.

⬇️

🇮🇶 STEP 3 — Make official dollars available

If legitimate demand can actually be satisfied through official channels, people have less reason to use the parallel market.

⬇️

🇮🇶 STEP 4 — Reduce speculation

As the official supply increases and controls improve, the opportunity for arbitrage between the official and parallel markets should become smaller.

⬇️

🇮🇶 STEP 5 — Compress the exchange-rate gap

The objective would be to gradually bring the parallel-market rate closer to the official rate.

⬇️

🇮🇶 STEP 6 — Move toward a unified currency market

This is the critical part.

A country cannot realistically maintain a healthy and unified currency system while two dramatically different exchange rates exist side by side.

⬇️

🇮🇶 STEP 7 — Create the conditions for future monetary action

And this is where the subject of the Iraqi dinar becomes particularly interesting.

⚠️ I am NOT saying the CBI has announced a revaluation.

It has not.

⚠️ I am NOT saying a revaluation is imminent.

The report does not say that either.

What I am saying is that if Iraq eventually wants to make a major change to the value or exchange-rate regime of the dinar, eliminating the distortions created by the parallel market would logically be an important part of preparing the environment for that decision.

🇮🇶 THE 1,320 LEVEL IS IMPORTANT — BUT NOT FOR THE REASON SOME PEOPLE THINK

There is a lot of attention around 1,320 IQD per USD.

But we need to understand what this number actually represents.

The CBI's existing official pricing structure includes:

💵 1,300 IQD — dollars purchased from the Ministry of Finance

💵 1,310 IQD — dollars sold to banks

💵 1,320 IQD — maximum selling price from banks and non-bank financial institutions to the end user

So this news is not announcing a new 1,320 rate.

The important development is the attempt to make the real market price paid by the end user move closer to that official level.

That is a very different thing.

🚨 AND THAT IS WHY I AM WATCHING THIS

For years, one of the biggest problems surrounding the Iraqi dinar has been the enormous difference between the official exchange rate and the parallel-market rate.

Now we are seeing the CBI focus directly on that problem.

The goal appears to be:

Official channels → more supply → stronger oversight → less speculation → smaller gap → more unified market.

That is the direction I want to see.

Because ultimately, currency reform is not just about changing a number on a screen.

It is about changing the underlying structure of the financial system.

💡 THE BIG QUESTION

Can the CBI actually force the parallel-market rate down by ensuring that legitimate demand is satisfied through official channels?

If the answer is yes, and if these measures are implemented effectively, then we could see significant pressure placed on the parallel market.

📉 More official dollar liquidity
📉 Less demand for the parallel market
📉 Less arbitrage
📉 Less speculation
📉 Smaller exchange-rate gap

And eventually:

🇮🇶 A much more unified Iraqi currency market.

That, in my opinion, is the real story here.

Not simply the number 1,320.

The real story is the attempt to bring the actual market closer to the official market.

🔥 BOTTOM LINE

I believe this is another important piece of the broader Iraqi financial reform process.

The CBI appears to understand that it cannot simply ignore the parallel market.

If Iraq wants a stronger, more stable and more unified currency system, the parallel market has to be progressively weakened.

And before any major future change in the value of the dinar could realistically be considered, the underlying currency market would need to be much more controlled, transparent and unified.

So I am watching the next few days very closely. 👀🇮🇶

Will the CBI introduce additional measures?

Will exchange companies be brought under even tighter control?

Will the supply of official dollars increase?

Will the parallel-market rate begin moving closer to 1,320?

Those developments could tell us much more than speculation ever will.

🔥 The process is the story.

🇮🇶 Iraq is working to close the gap.

🇮🇶 Iraq is working to strengthen the official currency market.

🇮🇶 And eliminating the parallel-market distortion could be one of the most important steps toward whatever comes next for the Iraqi dinar.

Stay focused. Watch the reforms. Follow the facts. And let the numbers tell the story. 📊🇮🇶💵

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🇮🇶💰 IRAQ’S CASH RECALL: REDUCING MONEY SUPPLY TO PAVE THE WAY FOR A HIGHER IQD RATE

 

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🇮🇶⚠️ IRAQ CAUGHT BETWEEN THE U.S. AND IRAN — SEPTEMBER 30 COULD BE CRITICAL

 🇮🇶⚠️ IRAQ CAUGHT BETWEEN THE U.S. AND IRAN — SEPTEMBER 30 COULD BE CRITICAL

Iraq is facing growing pressure as the war between 🇺🇸 the United States and 🇮🇷 Iran intensifies.

Although Iraq is not officially a combatant, Iran-aligned Iraqi armed factions have been attacking U.S. interests, raising the risk that Iraq could become another battlefield in the conflict.

⏳ At the same time, Baghdad faces a crucial September 30 deadline to advance efforts to bring weapons held by these factions under state control.

🔥 The problem? The ongoing war gives those groups a stronger argument to keep their weapons.

🛢️ Iraq also faces serious economic risks. Fighting around the Gulf and the Strait of Hormuz could disrupt oil exports, which are vital to Iraq's government revenues.

🚨 The biggest danger is a dangerous chain reaction: an attack by an Iraqi faction could trigger a U.S. response inside Iraq, while a forced disarmament campaign could spark internal conflict.

👉 Iraq is trying to stay out of a war that could increasingly be brought to its own territory.

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Iraq caught between US-Iran war and September 30 deadline

2026-09-13 18:12

Shafaq News- Baghdad

The maritime war between the United States and Iran flared back into open fire this week, with American forces sinking Iranian oil tankers, Tehran firing missiles at a base in Jordan that hosts US troops, and Brent crude climbing past $100 a barrel for the first time since July. Iraq is not a combatant in that war. It may be its most exposed bystander, and the escalation has arrived almost three weeks before a deadline that could decide whether it stays out.

By September 30, Iraq's new government is expected to reach a critical stage in its effort to bring weapons held by Iran-aligned factions under state control, as the US-led coalition's military mission draws to an end. The two clocks are now running against each other. A regional war that gives those factions both a cause and cover to keep their weapons is accelerating at precisely the moment Baghdad has promised Washington it will take those weapons away.

Ashraf Akka, a specialist in international relations based in Ramallah, told Shafaq News that Iraq is the most fragile state in the region under the current trajectory. “Iraq cannot easily hold the middle ground between Washington and Tehran, and its territory could become an additional theater if either its factions strike American interests or the United States and Israel retaliate inside Iraq,” he told Shafaq News.

The mechanics of that risk are already established. Since the war opened on February 28, Iran-aligned Iraqi factions grouped under the banner of the Islamic Resistance in Iraq, an umbrella of hardline Shia paramilitaries, several of them also folded into the state-funded Popular Mobilization Forces, have struck US facilities in Iraq and the Gulf hundreds of times, by the reckoning of Iraqi and US officials. American and Israeli airstrikes have answered by killing dozens of fighters and, in at least one case reported by Baghdad, an Iraqi army commander. The Kurdistan Region has absorbed a share of the damage, with Erbil hit repeatedly and strikes reaching hotels, telecommunications sites, and residential districts.

This week sharpened every one of those pressures. US Central Command (CENTCOM) said it destroyed three Iranian tankers on September 5 and five more on September 8, each time describing the strikes as retaliation for Iranian attempts to hit US warships.

Iran answered on September 9 with missiles aimed at the Al-Azraq base in Jordan; the Jordanian military said it intercepted 18 of 20 incoming missiles, with the rest falling in open ground and no casualties. Iran's claim to have damaged two US destroyers was denied by CENTCOM. On the same day, the board of the International Atomic Energy Agency voted 23 to 3 to refer Iran to the Security Council over its nuclear obligations, the first such move in two decades.

For Iraq, the most direct signal came at sea. A cargo ship was struck by a projectile roughly 52 kilometers southeast of al-Faw, at the mouth of the corridor through which almost all of Iraq's crude reaches the world. Iraq exports the bulk of its oil through the northern Gulf and the Strait of Hormuz.

Traffic through the strait has thinned to around ten commodity vessels a day over the past ten days, its lowest in months, and Mohsen Rezaei, secretary of Iran's Supreme National Security Council, has announced a restricted maritime zone in which ships entering without permission may face Iranian penalties. A prolonged squeeze on those lanes reaches Iraqi state finances directly, since federal revenue and the stability of export routes both hinge on the security of the Gulf.

Baghdad's room to maneuver is narrow in both directions. Prime Minister Ali al-Zaidi, whose government rests on the Shia political forces closest to Tehran, has warned that factions refusing to disarm will face terrorism charges and reaffirmed that foreign forces will leave by October 1. Washington has pressed him hard: after a drone struck a US diplomatic facility in Baghdad, the State Department summoned Iraq's ambassador and publicly faulted Baghdad for failing to prevent the attacks. Tehran has pushed the other way.

Read more: US pressure cannot halt Iraq-Iran trade, expert says

Esmail Qaani, commander of Iran's Quds Force, the arm of the Revolutionary Guard that manages relations with allied groups abroad, visited Baghdad seeking an arrangement that would let the factions retain, or merely freeze, their weapons rather than surrender them. The Badr Organization, among the oldest of those groups, has warned that forced disarmament could open the door to internal strife.

The deeper problem for Iraq is that the war it is exposed to shows no sign of ending quickly. Saleh al-Qazwini, a political analyst who follows Iranian and regional affairs, told Shafaq News that Western forecasts of Iranian collapse misread the picture: inflation and a falling currency are real, but the state's security and political institutions remain intact, and decisions taken at the top by the Supreme National Security Council or the Supreme Leader still hold.

Mahdi Azizi, an expert on Iranian affairs, made a complementary point, arguing that “economic pain has not pushed Tehran toward surrender” and that time may work against Washington as the cost of a long war mounts. “If both readings are correct, the exchange grinds on.”

Akka expects intermittent fighting of low to medium intensity, limited air strikes, attacks on ships and energy infrastructure, cyber and intelligence operations, and the activation of allied groups across the region, a scenario he judges more dangerous than a short, sharp conflict precisely because it leaves no clear line between war and peace. For Iraq, months of that ambiguity mean months in which a single faction's strike on a US target could invite a response on Iraqi soil, and in which the disarmament deadline functions less as a resolution than as a test Baghdad can neither afford to fail nor fully pass.

Al-Zaidi's task is to take the factions' weapons without triggering the internal conflict they have threatened, and to do it while a live regional war hands those same factions their strongest argument in years for keeping them.

https://shafaq.com/en/Report/Iraq-caught-between-US-Iran-war-and-September-30-deadline

JON DOWLING 🌎💰 WEEKLY RV REPORT: GEOPOLITICAL & FINANCIAL UPDATE + REFLECTIONS ON THE 25TH ANNIVERSARY OF 9/11 🇺🇸

JON DOWLING

🌎💰 WEEKLY RV REPORT: GEOPOLITICAL & FINANCIAL UPDATE + REFLECTIONS ON THE 25TH ANNIVERSARY OF 9/11 🇺🇸

🕯️ September 11, 2026 — A day of reflection, remembrance, and hope.

This week’s report examines important geopolitical, financial, and economic developments that, according to the analysis presented, could have a significant impact over the coming weeks and months.

📅 KEY EVENTS ON THE HORIZON

⚖️ The Clarity Act vote and the upcoming FOMC meeting are highlighted as important events for the markets, interest rates, cryptocurrencies, and precious metals.

🇮🇶 IRAQ AT THE CENTER OF THE STAGE

The report highlights a possible meeting between Prime Minister Al Zayidi and Donald Trump during the upcoming United Nations General Assembly, along with developments involving Iraq’s cabinet formation, budget, and political situation.

🔥 TENSIONS IN THE MIDDLE EAST

The report examines rising tensions between Israel and Iran, including possible action against Iranian nuclear facilities and increasing pressure on Iran-backed forces in Iraq.

🇺🇸 MIDTERM ELECTIONS & THE ECONOMY

One of the main theories presented in the report is that the conflict with Iran could come to an end following the U.S. midterm elections, potentially coinciding with major economic and financial changes.

💵 The report also mentions the possibility of $5,000 “dividend” payments to U.S. citizens, presented as economic participation rather than traditional stimulus checks. ⚠️ This is a projection discussed in the report and should not be interpreted as a confirmed announcement.

🏦 CHANGES IN THE FINANCIAL SYSTEM

The report also discusses possible sanctions against major U.S. banking institutions and potential changes within the financial system.

💰 Meanwhile, gold, silver, and crude oil are showing modest upward movements as markets remain focused on upcoming political and economic decisions.

🙏 FAITH, PATIENCE & PERSEVERANCE

Beyond politics and finance, the report concludes with Biblical reflections centered on:

✨ Renewing our minds
✨ Remaining patient during difficult times
✨ Persevering through adversity
✨ Maintaining faith and hope
✨ Preparing ourselves mentally and spiritually for change

🕊️ FINAL REFLECTION

The central message of the report is that the coming weeks could be particularly significant for geopolitics, financial markets, and the global economy.

As always, do your own research, verify information, and use your own discernment before making any financial decisions. 📚🔎

🙏 Let’s remain calm, keep the faith, and stay alert to the events unfolding around us.

🌎 The world is changing. The question is: Are we ready?

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