IRAQ’S 1,500 RATE: WHAT’S REALLY INTERESTING?

 CHANNEL8

Proposed Budget Revision Points to Planned Currency Devaluation Major Devaluation of Iraqi Dinar: Lawmaker Dilan Ghafoor told Channel8 that the approval and vote of the Council of Ministers and Parliament are required regarding setting the accounting exchange rate at 1,500 IQD per US dollar (150,000 IQD per $100) She added that although the Ministry of Finance has thoroughly studied the matter, “it does not mean this is a final decision. Principal agreement, however, is included in the draft.” ​If enacted, the measure would mark an official devaluation from the previous administrative peg, aligning the sovereign budget more closely with parallel market trading levels to bolster domestic oil revenues. ​Read more: https://channel8.com/english/news/6

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💵 IRAQ’S 1,500 RATE: WHAT’S REALLY INTERESTING?

📰 NEWS SUMMARY

Iraqi lawmaker Dilan Ghafoor said the draft budget includes a proposal to calculate the exchange rate at 1,500 IQD per $1 (150,000 IQD per $100).

However, she stressed that this is not yet a final decision and would require approval by the Council of Ministers and Parliament.

🔥 OUR ANALYSIS

The most interesting part is NOT simply the word “devaluation.”

👀 The bigger story is the potential attempt to reduce the gap between the CBI’s official exchange rate and the parallel-market rate.

📉 A smaller gap could reduce the incentive to use the parallel market.

🏦 If Iraq can gradually bring more foreign-exchange activity into the official banking system, it could strengthen the CBI’s control over dollar flows, improve transparency, and reduce dependence on unofficial currency trading.

This is why the 1,500 rate deserves attention. It could be viewed as part of a broader effort to bring Iraq’s different exchange rates closer together and create a more controlled and normalized currency market.

⚠️ This is NOT confirmation of a dinar revaluation, nor does it mean the CBI has officially changed its exchange rate.

But if Iraq is deliberately working to compress the official/parallel-market gap, that could become an important piece of the country’s broader monetary and financial reform process.

🇮🇶 The real question: Is Iraq gradually preparing the currency market for a new phase of normalization?

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