Wednesday, January 21, 2026
CENTRAL BANK OF IRAQ: CURRENCY IN CIRCULATION RISES TO MORE THAN 93 TRILLION DINARS
CENTRAL BANK OF IRAQ: CURRENCY IN CIRCULATION RISES TO MORE THAN 93 TRILLION DINARS
The Central Bank of Iraq revealed on Monday that the volume of currency in circulation rose to more than 93 trillion dinars during October of 2025.
The bank stated, in statistics seen by Shafaq News Agency, that the net currency in circulation reached 93.789 trillion dinars in October, an increase compared to September, in which the net currency in circulation recorded 92.185 trillion dinars.
He added that the volume of currency issued by the Central Bank amounted to 101.015 trillion dinars, while the currency in circulation at banks amounted to 7.226 trillion dinars.
He pointed out that the issued currency is the money that the state prints and issues through its central bank for the purpose of circulation, and it includes banknotes of various paper and metal denominations circulating outside the vaults of the central bank.
The bank explained that the high volume of currency in circulation and its scarcity in banks means that citizens resort to hoarding money instead of depositing it in banks, which is an unhealthy phenomenon.
It is worth noting that the Central Bank of Iraq revealed last Saturday that expenditures had increased compared to public revenues during the first 10 months of 2025.
🐐 MNT GOAT: Status of the RV — Why Iraq Is at a Critical Crossroads
Introduction: This Was Never Doom & Gloom — It Was Reality
Let’s be clear from the start.
This is not doom and gloom.
As we move through this long Iraqi Dinar (IQD) journey, many of us hoped the RV would simply happen—that Iraq’s internal problems would somehow fade into the background and not matter.
But history doesn’t work that way.
For years, many “intel gurus” filled the space with noise, promises, and gobble-goop, while ignoring the real work that Iraq must complete to stand as a successful nation and financial powerhouse.
Now, those unresolved issues are no longer theoretical.
They are front and center.
Why These Issues Are Now ‘Critical’
When we say critical, we are not talking about fear.
We are talking about a defining moment.
For more than a decade, the US, IMF, BIS, and World Bank have praised Iraq’s:
Potential
Natural wealth
Strategic location
Long-term prospects
But potential alone doesn’t build a nation.
The question is no longer “Can Iraq succeed?”
The question is “Will Iraq choose to?”
The GOI Must Catch Up to the CBI
The Central Bank of Iraq (CBI) has done much of the heavy lifting:
Monetary discipline
Banking reform frameworks
International coordination
The Government of Iraq (GOI), however, has lagged behind.
And the world will not wait forever.
Opportunities in global finance close quietly. If Iraq misses this window, catching up later will be far more difficult—especially as global energy dynamics change.
The Five (5) Critical Issues Holding Iraq Back
These are not new.
They were identified years ago.
Now they are unavoidable.
1️⃣ Banking System Reform
A modern, transparent banking system is non-negotiable for:
International trust
Capital inflows
Currency stability
Without it, Iraq cannot function as a serious financial player.
2️⃣ Expulsion of the PMF (Iran-Backed Militias)
No sovereign nation can thrive while armed factions operate outside state control.
This is about:
Rule of law
National authority
Ending foreign influence inside Iraq’s borders
3️⃣ Passage of the Oil and Gas Law (HCL)
Oil is Iraq’s backbone—but also its bottleneck.
Without a unified legal framework:
Revenue sharing remains disputed
Investment remains limited
National unity remains fractured
4️⃣ Controlling the Parallel Market vs CBI Official Rate
Uncontrolled dollar flows weaken:
The dinar
Monetary policy
Public trust
Stabilizing this gap is essential for any future currency move.
5️⃣ Recovering Currency Hoarded Outside the Banking System
Large volumes of cash remain:
Hoarded
Smuggled
Used outside formal channels
This undermines liquidity control and transparency.
Oil Is Not Forever — And Iraq Knows It
The world is moving—fast.
Alternative energy sources are accelerating, and demand for oil will not remain what it once was.
Iraq cannot afford to:
Delay reforms
Waste time on corruption
Prioritize sectarianism over national interest
This may be one of Iraq’s final best chances to leverage oil wealth into lasting prosperity.
Free Will, Choice, and the RV
Many believe—and MNT GOAT has reminded us—that this RV has been spoken of many times through prophecy.
But prophecy does not cancel free will.
God gives nations and people choice.
Governments are run by people.
People can change—or choose wrongly.
This is Iraq’s moment to decide:
Unity or division
Reform or stagnation
National good or personal greed
Trump, the US, and the Middle East Equation
When observing President Trump’s approach to Iraq and the Middle East, one thing becomes clear:
These issues were always there.
Previous administrations ignored them.
This one confronts them.
Revisit the September 16 newsletter, and you’ll notice something striking:
👉 Almost all meaningful news today revolves around these same five issues.
That is not coincidence.
PMF Pressure Intensifies: US Actions Continue
A recent article titled:
“Savaya Discusses with US Leaders the Influence of Iranian-Backed Factions in Iraq”
Reveals:
Meetings between US envoy Mark Savaya
Director of National Intelligence Tulsi Gabbard
Counterterrorism Director Joe Kent
The focus?
Border security
Smuggling
Corruption
Strengthening Iraqi state authority
Two words keep appearing:
Stability
Security
Without them, nothing else matters.
Political Developments Still Pending
At this stage:
Presidential candidates have not yet been announced
A new Prime Minister is expected shortly after
This political sequencing matters and must align with the broader reform agenda.
📌 Featured Snippet (Discover Ready)
The Iraqi Dinar RV is not delayed by mystery forces but by five critical issues—banking reform, militia control, oil legislation, currency market stability, and reclaiming cash outside the banking system—that Iraq must resolve to succeed as a sovereign financial power.
Q&A: Straight Answers for IQD Holders
❓ Is the RV guaranteed?
Nothing is guaranteed. It depends on choices made by Iraq’s leadership.
❓ Are these delays intentional?
No. These are structural obstacles that must be resolved.
❓ Is oil enough to save Iraq?
No. Oil without reform leads to dependency, not prosperity.
❓ Why does stability keep coming up?
Because no currency reform survives chaos.
Disclaimer
Please consider this analysis as opinion. Always seek professional financial advice before making any financial decisions.
Final Thoughts: This Is Iraq’s Moment of Truth
This is not about hype.
This is about nation-building.
Iraq stands at a critical junction:
The path forward is clear
The window is open—but not forever
The world is watching.
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🔥 Hashtags
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#IQD #FinancialSovereignty
MNT GOAT: STATUS OF THE RV
I certainly hope that no one took my last Newsletter as doom & gloom. As we progress through this RV saga over the years we seen what has to be done in Iraq, but we tend to ignore it because we hoped it would just go away and the RV would happen in spite of it all. We didn’t want to face it and just hoped that it will not affect the RV. Also many of these so-called intel gurus filled your minds with gobble-goop.
Many of these issues I have pointed out with the help of my CBI contact. Remember the list of the five (5) main issues facing Iraq? Now we are seeing them all playing out and coming to roost? I will even call them ‘critical’ at this stage of Iraqi development. Why do I say critical and what does critical mean?
When I say critical, I am meaning more on the side of Iraq being successful as a nation and a financial powerhouse. For over a decade now the US, IMF, BIS and World Bank have praised Iraq for it’s potential and progress so far. Okay, so now the baby is born and so will it learn to walk on it’s own?
These five main issues are the issues holding Iraq back. The GOI must catch up to the CBI. Heck, the world is only going to wait so long and then this opportunity is going to pass right by Iraq. It will be very difficult to catch up again.
I am talking about the demand for oil and alternatives to energy sources that are quickly coming to replace the use of this “liquid gold” in the ground. God is going to have one last laugh about this oil and the greed associated with it. Trust me on this one, it’s coming. So, how many chances is Iraq going to get to make it right? When will they put aside sectarianism, corruption and unite to do what is good for the nation as whole and put aside personal greed. There will always be outside enemies who will see fit to corrupt Iraq, but this is where the strength of any nation’s citizens comes into play. Can the nation’s people unite and fight these entities?
On this note, God has told us this RV would occur many times through His prophets. I presented these prophetic words to you many times. But it didn’t happen yet, and this does not mean it won’t. God gives us humans the gift of choice (free will) and without it we would just be controlled slaves on the planet. So, choices in Iraq have been made by people and people run the government. People can change or be diverted. Will they now make the right choice at this critical junction in their history?
When we see what Trump is trying to do for Iraq, and the entire middle east too, we realize these issue have been there all along although no other US president cared to address them. Feel free to go back to my 9/16 Newsletter and catch up on these five (5) critical issues. What did I say back then? What have we been hearing in the news. Yes, any important news worth paying attention to is now almost exclusively about these issues.
- Banking System Reform
- Expulsion of the PMF from Iraq
- Pass the Oil and Gas Law (HCL)
- Controlling the Parallel market vs Official CBI rate (controlling dollars)
- Collection of these stashes of currency outside the banking system
There is not a lot of news from Iraq this period. Most other news is just rhetoric and nonsense from the news channels trying to sway public opinion towards Nori al-Maliki again or away from the reinstatement. We know this tactic is not going to work out for the Planters peanut head guy. Note the resemblance…lol..lol..lol..
We are still waiting for the announcement of the candidates for the presidency of Iraq. Following filling this position, I am told the new prime minister will be announced shortly afterwards.
Again, we get news of how the US is working on handling the PMF militia in Iraq. In article titled “SAVAYA DISCUSSES WITH US LEADERS THE INFLUENCE OF IRANIAN-BACKED FACTIONS IN IRAQ” we learn the US President’s envoy to Iraq, Mark Savaya, reported on Monday, just yesterday, that he held a meeting with the Director of National Intelligence, Tulsi Gabbard, and the Director of the National Counterterrorism Center, Joe Kent, regarding Iraqi armed factions supported by Iran and their associated networks .
The meeting “highlighted the importance of maintaining and strengthening the Iraqi government’s efforts over the past year to secure the borders, combat smuggling and corruption, and enhance state authority .”He indicated that he is “committed to uncovering and prosecuting violations wherever they are found, achieving stability in Iraq, and ensuring its security, in service of Iraqi sovereignty and the well-being of the Iraqi people,” stressing that “the Iraqi people will make Iraq great again.” Opps, there’s those two words again – stability and security….
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/SAVAYA DISCUSSES WITH US LEADERS THE INFLUENCE OF IRANIAN-BACKED FACTIONS IN IRAQ
SAVAYA DISCUSSES WITH US LEADERS THE INFLUENCE OF IRANIAN-BACKED FACTIONS IN IRAQ
The US President’s envoy to Iraq, Mark Savaya, reported on Monday that he held a meeting with the Director of National Intelligence, Tulsi Gabbard, and the Director of the National Counterterrorism Center, Joe Kent, regarding Iraqi armed factions supported by Iran and their associated networks .
Savaya said in a post on the “ X ” platform, which was followed by the “Al-Sa’a” network, that “the discussions included the role of Iranian-backed factions and their associated networks .”
He added that “the meeting highlighted the importance of maintaining and strengthening the Iraqi government’s efforts over the past year to secure the borders, combat smuggling and corruption, and enhance state authority .”He indicated that he is “committed to uncovering and prosecuting violations wherever they are found, achieving stability in Iraq, and ensuring its security, in service of Iraqi sovereignty and the well-being of the Iraqi people,” stressing that “the Iraqi people will make Iraq great again.”
ARIEL: ⚡ US Military Leaves Iraq: 23 Years of Occupation End — What This Means for IQD Holders
Introduction: Can You Feel the Electricity?
Can you feel it?
That unmistakable charge in the air when years of waiting suddenly feel like motion—like puzzle pieces snapping into place after sitting in the shadows for decades.
With the US military officially withdrawing from Iraq’s federal territory on January 18, 2026, the timing feels anything but random. After 23 years of occupation, Iraq is stepping into a new phase of sovereignty, economic positioning, and global reintegration.
And for Iraqi Dinar (IQD) holders, the implications are profound.
23 Years Later: The End of the US Military Presence in Federal Iraq
The headlines are clear:
US Military Leaves Iraq — Federal Territory Fully Handed Over
Major outlets confirmed the transition, including the handover of strategic bases such as Ain al-Asad. This wasn’t chaotic. It was planned, coordinated, and deliberate.
But the wording matters.
Officials repeatedly emphasized:
“Federal territory”
“Non-Kurdish regions”
That distinction tells us this was not a retreat, but a restructuring.
Trump’s 2020 Statement Echoes Loudly in 2026
President Trump once said the US would not leave Iraq until it was “paid back” for the billions invested in military bases and infrastructure.
Fast-forward to today:
The US leaves federal Iraq
Iraq’s currency remains officially around 1,300 IQD/USD
Quiet settlements, not public announcements, dominate the stage
On paper, a massive currency revaluation would be the cleanest repayment mechanism—but global finance never moves on paper alone.
This moment isn’t about spectacle.
It’s about structure.
Why Erbil Matters More Than Baghdad Right Now
A key question keeps surfacing:
❓ Why is so much being routed through Erbil instead of Baghdad?
The answer lies in risk management and optics.
The Kurdistan Region maintains long-standing US and Western ties
Remaining US advisory and training forces are concentrated there
ISIS remnants still justify a limited presence
KRG banking channels are often viewed as cleaner and more compliant
Erbil acts as a financial and geopolitical buffer zone, allowing Iraq to transition without destabilizing its federal system.
This is not fragmentation—it’s controlled integration.
Iraq Is Quietly Checking Every Global Box
What we’re witnessing is not surface noise. It’s deep structural alignment.
✅ Sovereign Credit Rating Push (Confirmed)
A high-level meeting chaired by:
CBI Governor Ali Mohsen Al-Alaq
PM advisor Mazhar Mohammed Saleh
Oliver Wyman
Focused on the five pillars required by S&P, Fitch, and Moody’s:
Institutional strength
Monetary policy credibility
Economic growth prospects
Political risk mitigation
Governance and transparency
Why it matters:
Better ratings = cheaper borrowing, more foreign direct investment, and smoother access to international capital markets.
✅ Banking Cleanup & OFAC Coordination
The Central Bank of Iraq is:
Isolating bad actors
Tightening dollar auction rules
Coordinating directly with the US Treasury and OFAC
This effort targets:
Illicit dollar flows
Smuggling networks
Regional sanctions evasion
In simple terms:
🧼 They’re cleaning the pipes before turning on the pressure.
✅ WTO Accession Track Is Accelerating
After a 16-year pause, Iraq resumed WTO talks in 2024 and is now:
Updating commercial agency laws
Strengthening IP protections
Modernizing customs via UNCTAD systems
Ports like Umm Qasr are being wired into global trade infrastructure.
This is not symbolic—it’s functional.
The Currency Question: Why No Sudden Move Yet?
Despite all this momentum, Iraq’s 2026 budget locks in ~1,300 IQD/USD.
That’s intentional.
Publicly signaling a dramatic currency shift would:
Trigger speculation
Destabilize markets
Invite capital flight
Silence here is discipline, not delay.
Stability first. Repricing later.
📌 Featured Snippet
The US military’s withdrawal from Iraq marks the end of a 23-year occupation and signals Iraq’s transition into a fully sovereign, globally integrated economy—supported by banking reform, credit-rating preparation, WTO alignment, and a carefully managed currency strategy that directly impacts Iraqi Dinar holders.
Q&A: What IQD Holders Are Asking
❓ Does US withdrawal mean an immediate RV?
No public signal suggests an immediate revaluation. This phase is about structural readiness, not headlines.
❓ Why keep the dinar at 1,300 if reforms are complete?
To maintain market stability while internal and international mechanisms finalize.
❓ Is Erbil replacing Baghdad financially?
No. Erbil is acting as a staging ground, not a replacement.
❓ Is Iraq preparing for a new economic regime?
Yes. Clean banks, global compliance, trade integration, and sovereign credibility all point to that direction.
MarkZ-Style Disclaimer
Please consider everything discussed here as opinion and analysis. People who take notes may not capture full context. Always consult licensed financial professionals before making any financial decisions.
Final Thoughts: This Isn’t the End — It’s the Setup
This moment doesn’t scream.
It hums.
Quiet confidence.
Measured steps.
No fireworks—yet.
But when a country:
Ends a 23-year occupation
Cleans its banks
Prepares sovereign ratings
Aligns with WTO rules
Locks currency stability
…it’s not stalling.
It’s positioning.
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#MiddleEastEconomy #DinarRV #FinancialShift
Ariel : US Military Leaves Iraq, What this means for IQD Holders
US Military Leaves Iraq: 23 Years Of Occupation Now Over (What This Means For IQD Holders)
Can you all feel the electricity in what is being laid out? It’s like watching puzzle pieces snap together after years of waiting in the shadows.
Iraq’s been grinding through reforms for ages, and with the US pullout from federal territory hitting the wires just yesterday (January 18, 2026), the timing feels charged.
Trump’s old 2020 line about not leaving until Iraq “pays us back” for those billion-dollar bases is echoing louder now, especially as Baghdad navigates how to settle accounts in a world where the dinar sits at roughly 1,310 to the dollar.
You’re spot on that a massive reval would be the cleanest “repayment” mechanism on paper, but let’s dig deep into the why and how of this moment, especially your sharp question: why route so much through Erbil over Baghdad?
I’ll try to explain with layers of context, pulling from the real dynamics at play, because this isn’t just surface noise it’s structural.
Iraq’s pushing multiple fronts right now, and it does feel anticipatory, like the country is finally clearing the runway for deeper global integration:
Sovereign rating push → Confirmed. That joint meeting with Oliver Wyman, chaired by CBI Governor Ali Mohsen Al-Alaq and attended by PM advisor Mazhar Mohammed Saleh, zeroed in on the five pillars (institutional strength, monetary policy, economic growth prospects, political risks, governance). This isn’t cosmetic they’re building a narrative for S&P, Fitch, and Moody’s to justify upgrades. Better ratings mean cheaper borrowing, more FDI, and smoother access to international markets.
Banking cleanup and OFAC coordination → Real and ongoing. The CBI has been isolating bad actors, tightening dollar auction rules, and aligning with US Treasury to choke illicit flows (think Iran smuggling networks). This creates “clean pipes” for legitimate capital.
WTO track → Accelerating. After resuming talks in 2024 following a 16-year pause, Iraq’s adopting laws (commercial agency tweaks, IP protections) to meet accession criteria. Full membership isn’t tomorrow, but the momentum is there UNCTAD systems at ports like Umm Qasr are modernizing customs to tie into global trade rails.
US withdrawal context → Fresh and nuanced. Reports across CNN, Reuters, AP, and others confirm the full handover of bases like Ain al-Asad in federal Iraq. But notice the precise wording: “federal territory” or “non-Kurdish regions.” That’s deliberate. Remaining advisory/training elements are heavily concentrated in the Kurdistan Region, where US-KRG ties run deep and ISIS remnants still justify a footprint.
All this choreography clean banks, rating upgrades, trade prep does scream preparation for a more open economic regime. But the currency angle? The 2026 budget officially locks in ~1,300 IQD/USD, with no public signals of a dramatic shift. Which of course is very smart to keep the markets in line.