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Article: "Small denominations of the Iraqi dinar reveal a negative indicator of the money supply... An expert explains with figures" Quote: "According to data from the Central Bank of Iraq ...
the total number of banknotes issued increased from about 5.8 trillion banknotes in 2022 to 6.3 trillion banknotes in 2026, which led to an increase in the per capita share of banknotes from 120 banknotes to 141 banknotes, raising their total value per person from 1.8 million dinars to 2.51 million dinars...
the 50,000 dinar... as the number of issued notes jumped from 319 million notes in 2022 to more than 941 million notes in 2026... the prominence of large groups is an economic indicator that most of this money is going towards hoarding outside the banking system instead of circulating in the economy...The failure of small groups to grow in proportion to the size of the total money supply...necessitates a comprehensive review of monetary policy"
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A new report based on Central Bank of Iraq (CBI) data reveals an important trend in Iraq's money supply.
Between 2022 and 2026, the number of banknotes in circulation increased from 5.8 trillion to 6.3 trillion, while the number of 50,000 IQD notes nearly tripled—from 319 million to more than 941 million. At the same time, an economist notes that smaller denominations have not expanded proportionally, suggesting that large amounts of cash are being hoarded outside the banking system and calling for a comprehensive review of Iraq's monetary policy .
The CBI has spent years working to reduce cash dependency, expand electronic payments, strengthen the banking sector, and eliminate the parallel market. Could restructuring Iraq's currency eventually become the next logical step?
💡 My Perspective
This report comes at a very interesting time—July 2026, just a few months before September, a month many of us have already identified as potentially significant for Iraq.
By September, several major milestones are expected to converge:
✅ Progress on the 2027 Federal Budget.
✅ The September 30 deadline for Iran-backed militias to disarm.
✅ The planned conclusion of the International Coalition's mission.
✅ Continued economic and banking reforms.
It's interesting that this monetary policy discussion is emerging now, almost as if it is helping prepare the groundwork for what could come after September.
Could the CBI be positioning itself to finally move forward with the Delete the Zeros Project once these major political, security, and economic milestones are behind it?
No one knows for certain, and there has been no official announcement. But the timing of this report, combined with the broader reform agenda, certainly makes it an interesting development to watch.
👀 We continue connecting the dots... and September 2026 is looking more important than ever. 🇮🇶
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CHANNEL8 NEWS
Iraqi Prime Minister Ali Faleh al-Zaidi announced on X that he is traveling to Washington with a high-level government and business delegation to advance Iraq–US economic and investment partnerships in energy, technology, infrastructure, the digital economy, and finance.
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A growing number of analysts are calling Prime Minister Al-Zaidi's July 13 visit to Washington, D.C. one of Iraq's most significant developments in recent years. While headlines referring to a "Reset" reflect opinion rather than official policy, the broader trend is becoming increasingly clear.
Iraq is strengthening its international partnerships while accelerating major reforms at home. From expanding diplomatic cooperation with the United States to modernizing its financial system, combating corruption, recovering stolen assets, and improving economic governance, the country continues to build the foundation for long-term stability and growth.
These are not isolated events—they are part of a broader strategy to position Iraq as a stronger, more transparent, and globally connected economy. Each reform, each international meeting, and each financial modernization effort represents another step toward that objective.
No single announcement is likely to define Iraq's transformation. Instead, we are witnessing a series of deliberate, coordinated actions that continue moving the country forward.
📈 Economic reforms are advancing.
🏦 Financial modernization continues.
🌍 Iraq is strengthening its global position.
The momentum is building... Stay tuned, Dinarians! 🇮🇶💵
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The Central Bank of Iraq (CBI) has issued new directives regulating the cash withdrawal of U.S. dollar deposits and incoming foreign remittances. Under the new measures, commercial banks will be permitted to disburse citizens' U.S. dollar deposits in cash, with the regulations set to take effect on July 15, 2026.
Read more: https://channel8.com/english/news/61357
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The Central Bank of Iraq (CBI) has announced that, effective July 15, 2026, commercial banks will be allowed to disburse citizens' U.S. dollar deposits in cash. The new directives also regulate incoming foreign remittances, allowing beneficiaries to receive funds either in cash USD or through U.S. dollar bank accounts. The measures also establish controlled mechanisms for providing cash dollars for certain government-funded contracts and qualifying export proceeds.
This is another strategic step by the CBI to continue reducing Iraq's parallel market.
If you've been expecting one big announcement saying, "The parallel market has been eliminated," that's probably not how this process will happen. Instead, we're witnessing gradual but very deliberate measures, each one moving Iraq closer to that objective.
The same approach is likely to be used when it comes to increasing the value of the Iraqi dinar. Rather than one overnight event, we'll likely continue to see incremental but unmistakable progress toward the ultimate goal.
We're getting closer, Dinarians! 🇮🇶💵
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Frank26
The next two months are going to be extremely exciting because we will be able to see and follow the evidence of every PIP movement on a daily basis. It will increase the value of the dinar's exchange rate.
It will eventually hit 1 to 1 and eradicate the black market. After the RI is established, maybe around $3.22, then they can start the float which might put you in the $4.00 range.
As far as when the rate comes out, I don't know and neither do you. But we both know without a doubt it is being delivered to the Iraqi citizens right now. But it is a process...It is a process that one day will lead you where you'll say, wow!
That process, that journey, will cause you to be amazed at what's going on. You have to be careful. Only you can make the decision on when to exchange your currency...Right now you're going to have to watch the closing of the [market rate and official rate] gap. Once it reaches that, then you're going to have to worry about the float. Where do you get off this train?
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Iraqi MP Dilan Ghafoor revealed that the Ministry of Finance has introduced six major reform bills in response to the halt in Kurdish oil exports and the risks surrounding the Strait of Hormuz.
The reforms aim to:
💰 Diversify government revenue beyond oil.
🏢 Better utilize and sell state-owned assets.
👥 Reduce pressure on the public payroll by gradually shifting workers to the private sector.
These reforms are designed to build a stronger and more sustainable economy with less dependence on oil. While they do not confirm a Dinar RV, they represent another important step toward strengthening Iraq's long-term economic and financial foundation.
Every major reform brings Iraq one step closer to a more resilient economy.
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IRAQI NEWS Iraq is stepping up efforts to join the World Trade Organization, with the new administration pushing forward a process official...