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Friday, February 13, 2026

IMPORTANT CLARIFICATION FROM THE CENTRAL BANK OF IRAQ REGARDING THE DOLLAR

(Here we go again…more of the same bullshit from these money changers. Will they force the new government to force the CBI on going along with their plan to devalue the dinar, so they can make millions more on the dollar via the black market?)

The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed on Tuesday that the exchange rate of the dollar is stable and will not change, noting that the Central Bank does not suffer from any problem with gold and foreign currency reserves, and that they are continuing to inject dollars .

Al-Alaq said in a speech during the launch ceremony of the “E-Psule” electronic receipts project, which was followed by the “Al-Saa” network, that “the most important strategic axes in the path of economic and financial reform is the development of the electronic payment system and the transition towards the digital economy in a way that serves Iraq in general and the Kurdistan Region in particular,” noting that “excessive reliance on cash is no longer consistent with the requirements of the modern economy .”

He added that “building a sophisticated financial system requires secure, fast and transparent electronic systems that contribute to enhancing confidence in the banking sector and supporting financial stability .”

He noted that “recent years have witnessed tangible developments in the electronic payment infrastructure through the expansion of the use of bank cards and electronic wallets, the increase in the number of points of sale in government institutions and commercial markets, as well as the launch of electronic money transfer systems that operate around the clock .”

He explained that “these steps have contributed to facilitating the daily transactions of citizens, reducing time and effort, and improving the efficiency of the financial system,” indicating that “the Central Bank of Iraq is playing a pivotal role in this context by leading the transformation through the development of regulatory frameworks and instructions that ensure the integrity of operations, protect users, support financial innovation, as well as encouraging financial technology companies, promoting financial inclusion, and bringing new segments of society into the banking system .”

Al-Alaq added that “the development of electronic payment in Iraq is not complete without coordination and integration with the efforts in the Kurdistan Region, where we are working with the relevant authorities in the region to unify the systems and technical standards and expand governmental and banking digital services,” noting that “dealing in financial integration is a fundamental pillar for sustainable development.”

MNT GOAT: Iraqi MP Claims Government Agreement to Raise Dollar Exchange Rate to 180 Dinars – What’s Really Happening?

A new statement from Iraqi MP Majid Al-Shankali has ignited controversy across Iraq’s financial and political landscape.

According to the MP, Iraq’s government has “no real options” to address its growing financial pressures other than:

Raising the dollar exchange rate
OR
Reducing government salaries

He further claimed that influential leaders have agreed to adjust the exchange rate to a range between 160–180 dinars per dollar.

Let’s break this down carefully — because the implications are massive.

What Exactly Did MP Majid Al-Shankali Say?

In a televised interview followed by Al-Sa’a Network, Majid Al-Shankali stated:

Iraq has approximately 7 million salary recipients (employees, retirees, welfare recipients, Martyrs Foundation beneficiaries).
With families included, this affects over 40% of Iraq’s population.
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Monthly salary obligations total around 8 trillion dinars.
Annual salary-related obligations exceed 100 trillion dinars.
Oil revenues (estimated at $70 billion annually) are insufficient to cover all state expenses.
The “real” dollar value should range between 160–170 dinars, possibly reaching 180 dinars per dollar.
There is reportedly an agreement among important leaders to keep the rate within that range.

He criticized the earlier decision to restore the exchange rate to 1,300 dinars and claimed Iraq lost between 30–40 trillion dinars during the government of Mohammed Shia' Al Sudani.

Current Official Exchange Rate

The official exchange rate is set by the Central Bank of Iraq.

In recent years:

The rate was adjusted to 1,450 IQD per USD.
Later restored to 1,300 IQD per USD.

The CBI has repeatedly emphasized:

Monetary stability
Inflation control
Reducing dollarization
Strengthening the dinar internally

A move toward 160–180 dinars per dollar would represent an extreme and unprecedented shift from current policy — and would fundamentally contradict CBI stabilization efforts.

Why This Proposal Is So Controversial

If interpreted literally, raising the rate to 160–180 dinars per dollar would mean one of two things:

A massive redenomination scenario (very unlikely without major reforms)
Severe misstatement or political positioning

Such a drastic change would:

Increase domestic inflation pressure
Expand black market activity
Undermine confidence in the dinar
Strengthen dollar dominance
Benefit currency exchangers holding USD

This runs counter to the CBI’s recent efforts to reduce reliance on the dollar.

The Political Dimension

The debate cannot be separated from Iraq’s internal political factions.

Some analysts argue that certain groups within the Iranian-backed Coordination Framework prefer policies that weaken monetary reform progress.

However, monetary authority in Iraq lies primarily with the Central Bank of Iraq, not individual MPs.

Prime Minister Mohammed Shia' Al Sudani has previously stated that exchange rate decisions are the responsibility of the CBI.

Iraq’s Financial Reality

Here are the numbers presented:

$70 billion estimated annual oil revenue
Equivalent to approximately 91 trillion dinars
Government obligations exceed 100 trillion dinars annually
Monthly payroll around 8 trillion dinars

If accurate, Iraq faces:

Budget deficits
Heavy public-sector burden
Limited diversification of non-oil revenue

But historically, currency devaluation alone does not solve structural fiscal problems.

Q&A Section

❓ Did Iraq officially raise the dollar exchange rate to 180 dinars?

No. There has been no official announcement from the Central Bank of Iraq confirming such a change.

❓ Who controls Iraq’s exchange rate policy?

The Central Bank of Iraq is responsible for setting and managing Iraq’s official exchange rate.

❓ Why would raising the dollar rate be considered?

Supporters argue it could:

Increase dinar liquidity
Cover salary obligations
Address budget deficits

Critics argue it would:

Trigger inflation
Hurt citizens’ purchasing power
Strengthen dollar dependency

❓ Is this a sign of an impending devaluation?

Not necessarily. Political discussions do not equal official monetary action.

Featured Snippet Summary

Iraqi MP Majid Al-Shankali claims leaders agreed to raise the dollar exchange rate to 160–180 dinars.

Iraq faces over 100 trillion dinars in annual salary and obligation expenses.
Oil revenues alone may not cover total spending.
No confirmation has been issued by the Central Bank of Iraq.
The proposal contradicts recent monetary stabilization efforts.

Key Takeaways for Dinar Holders

This is a political statement, not a Central Bank decision.
Exchange rate authority rests with the CBI.
Sudden extreme devaluations are highly destabilizing.
Iraq’s financial challenge is structural — not purely exchange rate driven.

Investors should monitor official releases from:

The Central Bank of Iraq
Iraq’s Ministry of Finance
Parliamentary economic committees

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Final Analysis

The suggestion to move toward 160–180 dinars per dollar is one of the most controversial exchange rate discussions in recent memory.

But until the Central Bank of Iraq issues formal policy changes, this remains political rhetoric — not monetary action.

In Iraq, exchange rate stability is not just economic policy — it’s national stability.

Stay alert. Stay analytical. Stay grounded.

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