🏦🇮🇶 CBI Confirms: No IQD Devaluation & Banking Reforms Enter Final Stage! 📈
Despite recent rumors, the Central Bank of Iraq (CBI) has confirmed that there are no plans to change the official exchange rate of the Iraqi dinar. Government officials also stated that Iraq's monetary policy remains stable and coordinated with the CBI. ✅💵
Recent fluctuations in the dollar exchange rate were attributed to market rumors and temporary conditions, not to an official devaluation of the IQD. Officials expect those fluctuations to ease as market conditions stabilize. 📊
Even more encouraging, the CBI announced that the reintegration of banks previously restricted from conducting U.S. dollar transactions is now in its final stages. This is another important milestone in Iraq's banking reform program. 🏛️
The Central Bank continues working with international financial institutions to strengthen monetary stability, modernize the banking sector, enhance financial transparency, and further integrate Iraq into the global financial system. 🌍🤝
While this is not an RV announcement, it represents continued progress in the financial reforms many investors have been watching closely.
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MNT GOAT: Did the Iraqi dinar really devalue last week?
Another issue that came forth in my last Newsletter dated June 23, 2026 was about the intentional devaluation of the Iraq dinar as they talked about increasing the value of the dollar in Iraq, which we all should know by now would undermind the dinar and thus cause a devaluation of it. So, did the CBI really devalue the dinar by announcing a new official rate of around 1650 from 1320 as many economists told us would happen? Or was is all just speculation and rumors?
😊 In an article today we learn from the CBI that is DID NOT devalue the dinar and thus did not change the official rate. See article titled “THE GOVERNMENT SETTLES THE DEBATE OVER THE DOLLAR EXCHANGE RATE.” When the CBI talks, I listen.
Government spokesman Haider al-Aboudi confirmed that “neither the government nor the central bank intends to change the exchange rate of the dollar against the Iraqi dinar” . Al-Aboudi said in a televised interview followed by Al-Sa’a Network that “there is no intention to raise the exchange rate of the dollar against the Iraqi dinar,” indicating that “the monetary and financial policy between the government and the Central Bank is proceeding in an integrated and regular manner .”
We also find out in a recent article the rise in the dollar was temporary and will soon end it is titled “SALMANIYA CURRENCY MARKET: RUMORS BEHIND DOLLAR FLUCTUATIONS… WE EXPECT IT TO DECLINE THIS WEEK” So no worries! Again, I say we must caution our assumptions since we must remember the dinar is solely still pegged to the dollar and that is a large part of the problem for the dinar. Every little hiccup in the middle east causes the dollar to increase since it is still a strong, safe currency and everyone wants it, especially the terrorists.
The spokesman for the dollar market in Sulaymaniyah, Jabbar Goran, confirmed on Saturday that the fluctuation in the value of the Iraqi dinar against the dollar during the past few days was a result of the circulation of incorrect rumors, while he expected the exchange rate of the dinar to improve during the current week.
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😊 More good news in the article titled “CENTRAL BANK OF IRAQ: REINTEGRATION OF DOLLAR-DENOMINATED BANKS IS IN ITS FINAL STAGES”.
The Central Bank of Iraq confirmed on Monday that the process of reintegrating banks restricted from dealing in US dollars in foreign transfer operations has reached its final stages, while reiterating its commitment to meeting the demand for dollars in accordance with the approved regulations and standards.
The bank stated in a statement received by (Mawazin News) that it continues to implement its reform program in coordination with the relevant international institutions, with the aim of strengthening monetary and financial stability, developing the banking sector and raising its level of integration into the global financial system.
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/