🇮🇶🔥 IRAQ UPDATE – MOMENTUM IS BUILDING!
📢 A LOT TO WATCH THIS MONTH! Reset Intelligence says October has brought more developments to follow than any month this year, with optimism continuing to grow.
🇺🇸 U.S. TREASURY UPDATE: Reports indicate that restrictions have been lifted on several Iraqi exchange companies after they met CBI compliance requirements, allowing them to resume participating in dollar sales for travelers.
🏛️ GOVERNMENT DEVELOPMENTS: According to Intel Guru Bruce and MarkZ, Iraq has made progress in forming its government, with attention now turning toward the 2027 budget and the next steps in economic reform.
📊 WHAT COMES NEXT?
✅ Government formation and remaining appointments
✅ Potential progress on the HCL
✅ Preparation and approval of the 2027 budget
✅ Continued monitoring of Iraq’s exchange-rate policies
🔥 THE BIG PICTURE: Several developments are generating optimism among dinar-watchers, but speculation about a new exchange rate or an upcoming reinstatement remains unconfirmed.
⚠️ IMPORTANT: The reports cited above include commentary from dinar-community sources. No official announcement in these statements confirms a new Iraqi dinar rate, a Forex listing, or a reinstatement date.
🇮🇶 Could October bring further milestones for Iraq’s economic reforms? Stay informed, follow official announcements, and separate confirmed developments from speculation!
#Iraq #IraqiDinar #IQD #CBI #HCL #2027Budget #EconomicReform #Forex
🇮🇶 IRAQ ANNOUNCES NEW DEVELOPMENT AND INTERNATIONAL COOPERATION INITIATIVE! 🌍
Prime Minister Ali Faleh Al-Zaidi has ordered the formation of a government committee to negotiate with the International Organization for Migration (IOM) and study Iraq’s potential accession to the organization’s Constitution.
🏛️ WHAT DOES THE INITIATIVE INCLUDE?
✅ International negotiations with the IOM.
✅ Discussion of development projects planned for implementation in Iraq.
✅ Examination of the legal and administrative procedures required for Iraq to join the organization’s Constitution.
⏳ 60-DAY DEADLINE: The committee must submit its final recommendations to the General Secretariat of the Council of Ministers within 60 working days.
📊 WHY DOES THIS MATTER?
The initiative reflects Iraq’s efforts to strengthen international cooperation, evaluate development opportunities, and advance institutional coordination.
🇮🇶 THE BIG PICTURE: This is an official government initiative, but Iraq’s accession has not yet been confirmed. The committee must first complete its negotiations and submit its recommendations.
⚠️ This announcement does not directly confirm any change to the Iraqi dinar or activation of the Delete Zeros Project.
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#Iraq #IraqiNews #EconomicDevelopment #InternationalCooperation #IOM #IraqiGovernment
🇮🇶🔥 IRAQ: CABINET COMPLETED, HCL AND BUDGET NEXT?
📢 MarkZ [via PDK] reports that Iraq has reportedly completed its cabinet with 11 new ministers. The next steps are expected to focus on the HCL (Hydrocarbon Law) and the budget. His Iraqi contacts are extremely optimistic and believe this could be a pivotal month for Iraq.
💵 WHAT ABOUT THE 1,520 EXCHANGE RATE AND THE DELETE ZEROS PROJECT?
📊 According to Mnt Goat, a source connected to the Central Bank of Iraq claims that a strategic plan is underway. Controlling the parallel currency market may be an important factor before Iraq moves forward with potential monetary reforms.
⚠️ The source also suggests that removing the zeros could be followed by a future reinstatement of the dinar. However, these statements reflect unverified reports and opinions, not officially confirmed policy.
🏦 WHAT ABOUT THE BANKS?
Stephen argues that banks' attitudes could change if the Iraqi dinar were to gain a new recognized value. Currently, the dinar is generally classified as an exotic currency, which may limit the services some financial institutions are willing to provide.
🎯 WHAT SHOULD WE WATCH NEXT?
✅ Official progress on government formation. ✅ Developments regarding the HCL and the national budget. ✅ Changes in the gap between the official and parallel-market exchange rates. ✅ Official statements from the Central Bank of Iraq regarding potential monetary reforms.
🇮🇶 COULD THIS BE A KEY MONTH FOR IRAQ?
The political and monetary developments deserve close attention, but there is still no official confirmation of an imminent revaluation or a timeline for the Delete Zeros project.
📌 The key is to separate verifiable progress from speculation and expectations.
#Iraq #IraqiDinar #IQD #HCL #DeleteZeros #MonetaryReform #IraqNews
🇮🇶💵 IRAQ’S DINAR DEVALUATION: IS THERE A STRATEGY BEHIND THE PARALLEL MARKET?
📊 WHAT IS HAPPENING?
On October 7, Iraq changed its official dollar selling rate from 1,320 to 1,520 dinars per dollar. However, the parallel market continued trading above the new official rate, showing that the adjustment alone has not eliminated the gap.
🎯 MY OBSERVATION: COULD THIS BE A STRATEGIC MOVE?
One possibility worth considering is that Iraq is trying to reduce the attractiveness of the parallel market by bringing the official exchange rate closer to the price at which dollars trade outside the banking system.
If authorized banks and exchange companies can provide dollars more efficiently, traders may have fewer reasons to turn to unofficial channels. A smaller gap could also reduce opportunities for currency speculation.
🏦 WHY WOULD THIS MATTER?
✅ Reducing the gap between official and parallel exchange rates.
✅ Improving access to dollars through authorized financial institutions.
✅ Strengthening banking oversight and reducing unauthorized currency transactions.
✅ Supporting greater stability in Iraq’s foreign-exchange market.
⚠️ BUT THERE IS ANOTHER SIDE TO THE STORY.
The devaluation also helps the government obtain more dinars for each dollar of oil revenue, which can ease pressure on public finances. At the same time, it makes imports more expensive and can reduce citizens’ purchasing power.
🇮🇶 HOW DOES THIS RELATE TO THE DELETE ZEROS PROJECT?
My observation is that Iraq’s exchange-rate adjustment, banking reforms, and efforts to control dollar flows deserve close attention as part of the country’s broader financial modernization.
If Iraq succeeds in narrowing the parallel-market gap and improving banking efficiency, it could create better conditions for future monetary reforms.
However, this remains an interpretation, not confirmation that the devaluation was designed to prepare for Delete Zeros. No official announcement has established that connection.
📌 THE KEY INDICATOR TO WATCH: Does the parallel-market rate move closer to the official rate while access to dollars improves?
The answer could tell us more about whether Iraq’s currency-market strategy is working.
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#Iraq #IraqiDinar #IQD #DeleteZeros #CBI #CurrencyReform #BankingReforms
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Shafaq News
For Iraqi trader Saleh Salam, a single government decision came with a staggering price tag. He lost 300 million dinars (about $197,400) in just one day after Iraq devalued its currency, as importers face a new financial reality in which securing dollars through official banks can come at extra costs.
Iraq raised the official dollar selling rate for the public from 1,320 to 1,520 dinars on October 7. Prime Minister Ali Al-Zaidi defended the adjustment as a response to mounting fiscal pressures and said speculators had benefited from the previous exchange-rate gap, but traders interviewed by Shafaq News argued that the decision had increased their costs without resolving difficulties in obtaining dollars through official banks.
Higher Costs and Banking Delays
Trader Ali Al-Uqayli said that buying $100 through a bank costs 152,000 dinars at the new rate, but an additional 12,000 dinars (about $7.90), which he attributed to government requirements, brings the effective cost to 164,000 dinars per $100.
Bank transfers could take three days or longer, exposing traders to additional costs, while the Dubai market charges $400 for each day of delay, he said, reporting an additional burden of 12 million dinars (around $7,895) per kilogram of gold.
Al-Uqayli accused the government of failing to support traders and importers, arguing that the additional costs and transfer delays encouraged businesses to obtain dollars through the parallel market. He warned that greater demand outside official banking channels could push the dollar higher and benefit currency speculators.
Disputed Transfers and Financial Losses
The devaluation also triggered a dispute over payments arranged before the exchange-rate change.
Importers and gold company owners protested outside the Central Bank of Iraq (CBI) in Baghdad over demands for additional payments on transfers that had received preliminary approval at the previous rate of 132,000 dinars per $100. They warned that applying the new rate to earlier transactions could expose businesses to substantial financial losses and called for government intervention.
The CBI had clarified on October 10 that traders should not bear exchange-rate differences on transfers purchased and covered at the previous rate before October 7, adding that it had provided financial institutions with funds for eligible transfers and urging traders facing additional charges or unjustified delays to file complaints through its official platform.
Salam told Shafaq News that the CBI had previously required traders and gold companies to provide additional funds at the new exchange rate. He said those demands stopped after the protest but argued that ending them was insufficient to protect businesses from losses caused by the sudden adjustment.
Some traders and importers had suffered losses worth “hundreds of millions of dinars,” he said, warning that abrupt government decisions could disrupt businesses supplying food and other goods to Iraqi markets.
Read more: Why Iraq's dinar keeps sliding despite fresh US cash
Fiscal Relief, Economic Risks
The devaluation came as Iraq faced mounting pressure on its oil-dependent finances. Finance Ministry figures showed oil revenues falling 53% year-on-year during the first seven months of 2026, contributing to a 45.7% decline in total federal revenue.
Addressing parliament on October 8, Al-Zaidi said disruptions to oil exports had strained government finances, leaving his administration facing alternatives including compulsory savings, paying salaries every 45 days, or further borrowing.
The CBI defended the adjustment as a response to pressure on foreign reserves. On October 13, its director general of statistics and research, Samir Fakhri Nima, said Iraq retained sufficient reserves to cover at least a year of imports despite the oil revenue shock.
Meanwhile, academic Abdul Razzaq Al-Bahadli told Shafaq News that the devaluation primarily aimed to offset the budget deficit by generating more dinars from oil revenues earned in dollars. The additional local-currency revenue will “help” finance government operations and public-sector salaries but he described the measure as temporary fiscal relief rather than sustainable economic growth.
The weaker dinar, Al-Bahadli cautioned, would reduce the purchasing power of public- and private-sector employees, leading consumers to limit or postpone purchases as prices rise. Lower demand could also slow commercial activity and force producers, factories, and businesses to cut jobs, increasing unemployment and creating wider economic and social pressures.
Shafaq News market checks on October 8 further recorded price increases of up to 15.4% for selected food staples. The government subsequently exempted imported food and medicines from customs duties and reopened imports of potatoes, tomatoes, and onions to ease pressure on household costs.
https://shafaq.com/en/Report/Iraqi-traders-count-losses-after-dinar-devaluation
CHANNEL8
The Central Bank of Iraq has launched a new electronic system on the national e-governance platform to streamline the replacement of damaged banknotes, driving its digital transformation strategy to "minimize time and effort" for citizens.
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🇮🇶🏦 IRAQ’S NEW DIGITAL BANKING SYSTEM: WHY IT COULD MATTER FOR THE FUTURE DELETE ZEROS PROJECT!
The Central Bank of Iraq has launched a new electronic system on the national e-governance platform to simplify the replacement of damaged banknotes. The initiative aims to reduce the time and effort required for citizens to complete this process, representing another step in Iraq’s ongoing banking digitalization efforts.
But why is this development important for those of us following the potential activation of Iraq’s Delete Zeros Project? 👇
💻 1. MODERNIZING IRAQ’S BANKING INFRASTRUCTURE
Before implementing a major currency reform, a country needs an efficient banking system capable of managing currency transactions, processing financial information, and serving citizens effectively. The introduction of new electronic services demonstrates that Iraq is continuing to modernize certain aspects of its financial infrastructure.
🔄 2. IMPROVING BANKNOTE MANAGEMENT
The replacement of damaged banknotes is a routine but important part of currency circulation. If Iraq eventually implements a currency redenomination through the Delete Zeros Project, the banking system could face additional operational demands involving the exchange, distribution, accounting, and management of banknotes.
Having more efficient procedures and digital systems could help financial institutions manage these tasks more effectively. However, this particular platform is designed to replace damaged notes, and its role in any future redenomination has not been officially established.
🏦 3. PREPARING FOR MORE EFFICIENT CURRENCY OPERATIONS
A potential Delete Zeros Project would require coordination between the Central Bank, commercial banks, government institutions, businesses, and the public. Depending on the final implementation plan, banks might need to update their accounting systems, transaction records, cash-handling procedures, and customer services.
Continued digitalization could help strengthen the operational capabilities needed to support such a transition. Nevertheless, this new system alone does not demonstrate that all the necessary preparations for currency reform have been completed.
📊 4. SUPPORTING FINANCIAL MODERNIZATION AND PUBLIC CONFIDENCE
Modern banking services can make financial procedures more transparent, accessible, and efficient. These improvements can support broader financial-sector development and help institutions serve citizens during future changes to banking procedures.
If the Delete Zeros Project is officially activated, an increasingly modern banking infrastructure could be beneficial in communicating the changes, processing transactions, and assisting the public throughout the transition.
🇮🇶 5. DOES THIS MEAN THE DELETE ZEROS PROJECT IS ABOUT TO BE ACTIVATED?
It is important to distinguish between progress in banking modernization and an official decision to implement currency reform.
The new electronic system is a positive development for Iraq’s digital transformation, but it is not an official announcement that the Delete Zeros Project has been approved, scheduled, or activated.
The most important indicators to watch remain official statements from the Central Bank of Iraq, formal currency-reform plans, implementation guidelines, and announcements explaining how banks and citizens would participate in the process.
💡 THE BIG PICTURE
Iraq’s continued efforts to modernize its banking services could contribute to building a more efficient financial environment for future reforms. If the Delete Zeros Project moves forward, improvements in digital systems, banknote management, and financial operations could help facilitate its implementation.
For those of us following the Iraqi dinar, the key is to monitor these developments carefully, recognize their potential significance, and distinguish between encouraging infrastructure improvements and confirmed policy decisions.
📌 Banking modernization is progress. Currency redenomination, however, requires its own official confirmation.
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#Iraq #IraqiDinar #DeleteZeros #CentralBankOfIraq #CBI #BankingReform #DigitalTransformation #CurrencyReform
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