MNT GOAT: 👉 “CBI Nears Trigger Point for Currency Redenomination” #iqd #dinarrevaluation

 

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CENTRAL BANK GOVERNOR: THE DOLLAR EXCHANGE RATE IS FIXED AND WILL NOT CHANGE

CENTRAL BANK GOVERNOR: THE DOLLAR EXCHANGE RATE IS FIXED AND WILL NOT CHANGE

The Governor of the Central Bank of Iraq, Ali Al-Alaq, attributed the fluctuation of the “parallel market” and the rise in the dollar exchange rate to the dealings of some traders, stressing that the dollar exchange rate at the Central Bank is fixed and will not change.

Al-Alaq said regarding the fluctuation against the dinar: “The price set by the Central Bank for the US dollar is fixed and does not change, but the developments that have occurred in the import mechanisms have prompted some traders to turn to the black market to buy dollars.”

Al-Alaq added: “These traders will soon return to the official channels to obtain currency, and thus the price will return to its normal level, especially since the Central Bank does not suffer from any problem with gold and foreign currency reserves, and continues to inject dollars, so we have not faced any obstacles in this regard.”

He also pointed out that the current turmoil in the currency market requires a reorganization of oversight of all commercial transactions to bring them back to their official channels, which will lead to stabilizing the situation and restoring balance.

The Central Bank Governor continued: 

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“We do not have an official currency market (outside the Central Bank), there is only a black market, while the only source of dollars is the Central Bank. As for the dollars circulating in the markets, they are the surplus that is traded among citizens, because the Central Bank does not provide dollars for unofficial or illegal transactions. Rather, we monitor commercial activities and provide the necessary facilities to ensure that they proceed in accordance with legal frameworks, especially after the Central Bank developed its procedures in line with international standards.”

Al-Alaq added: “We are closely monitoring the activities of importers and exporters, goods, prices, and all related issues. At the same time, the transfers currently being conducted are legal and protected, and we hope that all traders will adhere to the procedures to ensure market stability.”

MNT GOAT: IMPORTANT CLARIFICATION FROM THE CENTRAL BANK OF IRAQ REGARDING THE DOLLAR

 Amid circulating rumors and political noise about potential exchange rate changes, the Central Bank of Iraq (CBI)has issued a direct and firm clarification.

The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed:

• ✅ The dollar exchange rate is stable

• ✅ There are no plans to change it

• ✅ Iraq has no shortage of gold or foreign currency reserves

• ✅ The bank continues injecting dollars into the market

This statement directly counters recent claims suggesting devaluation or drastic rate adjustments.

Let’s examine what was said — and why it matters.

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The Official Statement from Governor Ali Al-Alaq

Speaking during the launch of the “E-Psule” electronic receipts project, Al-Alaq emphasized monetary stability and reform — not devaluation.

He stated clearly:

The exchange rate of the dollar is stable and will not change.

He further confirmed:

• The Central Bank does not suffer from reserve shortages

• Gold reserves are secure

• Foreign currency reserves remain strong

• Dollar liquidity injections are ongoing

This is a direct contradiction to narratives suggesting financial collapse or forced devaluation.

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Focus on Digital Transformation, Not Currency Devaluation

Instead of discussing rate changes, the Governor focused heavily on:

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1️⃣ Expanding Electronic Payment Systems

• Increased use of bank cards

• Growth in electronic wallets

• More POS (Point of Sale) systems

• 24/7 electronic money transfer services

2️⃣ Reducing Cash Dependency

Al-Alaq stressed that excessive reliance on cash:

• Does not align with modern economic systems

• Weakens transparency

• Encourages informal market activity

3️⃣ Strengthening the Digital Economy

The CBI is:

• Updating regulatory frameworks

• Encouraging fintech innovation

• Promoting financial inclusion

• Expanding banking participation

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Coordination with the Kurdistan Region

The Governor also confirmed coordination between Baghdad and the Kurdistan Region to:

• Unify electronic systems

• Align technical standards

• Expand digital government services

• Support financial integration

This signals structural modernization, not monetary destabilization.

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Why This Clarification Is Significant

Recently, political voices have floated ideas such as:

• Raising the dollar exchange rate

• Major exchange rate adjustments

• Financial crisis narratives

However, exchange rate authority lies exclusively with the Central Bank of Iraq — not with individual MPs or political blocs.

Al-Alaq’s statement effectively:

• Reinforces monetary stability

• Rejects devaluation speculation

• Confirms strong reserves

• Signals continued reform strategy

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What About Gold & Foreign Currency Reserves?

One of the strongest parts of the clarification:

There is no problem with gold or foreign currency reserves.

This is critical because reserve strength determines:

• Currency defense capability

• Exchange rate sustainability

• International financial credibility

A country facing reserve collapse would not confidently maintain exchange rate stability.

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Q&A Section 

❓ Is Iraq changing the dollar exchange rate?

No. The Central Bank of Iraq confirmed the exchange rate is stable and will not change.

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❓ Does Iraq have a shortage of dollar reserves?

No. Governor Ali Al-Alaq stated that Iraq does not suffer from any problem with gold or foreign currency reserves.

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❓ Why is Iraq expanding electronic payments?

To modernize the financial system, reduce reliance on cash, increase transparency, and support economic reform.

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❓ Who controls Iraq’s exchange rate?

The Central Bank of Iraq is solely responsible for exchange rate policy.

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Featured Snippet Summary (Google Discover Ready)

• CBI Governor Ali Al-Alaq confirmed the dollar exchange rate remains stable.

• Iraq has strong gold and foreign currency reserves.

• No devaluation is planned.

• The Central Bank continues injecting dollars into the market.

• Focus remains on digital payment expansion and financial reform.

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The Bigger Picture: Reform vs. Rumors

The CBI’s strategic direction appears focused on:

• Digital infrastructure

• Financial inclusion

• Banking modernization

• Monetary stability

Not devaluation.

Modern central banks typically pursue:

• Reduced dollar dependency

• Increased transparency

• Controlled liquidity

• Structured reform

Everything outlined in this statement aligns with those objectives.

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Final Thoughts

The Central Bank has spoken clearly.

No exchange rate change.
No reserve crisis.
No emergency devaluation.

Instead, Iraq is moving toward digital modernization and financial integration.

When official institutions clarify policy, that matters more than speculation.

Watch the CBI — not the rumors.

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