Iraqi Dinar (IQD) Update:
Official & Parallel Rates Near Parity!
Is a Major CBI Rate Change on the Horizon? 
As of July 1, 2025, at 6:53 PM AEST, the Iraqi Dina
r’s official and parallel market rates are closer than ever, signaling potential seismic shifts in Iraq’s monetary policy.
Let’s break it down with the latest data and what it means for Iraq’s economy. 
As of July 1, 2025, at 6:53 PM AEST, the Iraqi Dina
r’s official and parallel market rates are closer than ever, signaling potential seismic shifts in Iraq’s monetary policy.
Let’s break it down with the latest data and what it means for Iraq’s economy. -----
Latest Rates
- Official Rate (Xe): 1 USD = 1,309.9950 IQD (1 IQD = 0.0007634 USD), sourced from Xe’s live currency converter, reflecting the Central Bank of Iraq’s (CBI) tightly controlled rate.
- Parallel Market Rate: 1 USD = 1,315.00 IQD (1 IQD = 0.0007605 USD), based on a selling price of 131,500 IQD per $100 USD reported by @IraqMarketPulse on X (July 1, 2025, 14:30 AEST), with @BaghdadTrader noting a similar trend in Baghdad’s street markets.
The Gap is Shrinking!
The difference between the official and parallel rates has plummeted to just 5.0050 IQD/USD, a mere 0.38% premium over the official rate. Compare this to June 17, when the gap was 128.96 IQD/USD (9.84% premium), or even earlier at 125.01 IQD/USD (9.54% premium) on June 18.
In USD terms, the parallel market now values the IQD at a 0.38% discount (0.0000029 USD/IQD), down from 8.71% just two weeks ago.
This is the tightest spread we’ve seen in recent history, bringing the rates tantalizingly close to parity.
But what’s driving this convergence, and could it signal a major CBI policy shift? 
