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Business & Stocks Economic Times Markets • Oct 07, 2026

Central Bank of Iraq Devalues Dinar to 1,500 per USD Amid Regional Shipping Disruptions

💡 Key Takeaways

•Official exchange rate adjusted from 1,300 to 1,500 IQD/USD.
•Devaluation triggered by regional conflict and oil shipping disruptions.
•Central Bank aims to narrow the gap between official and market rates.

NEW DELHI [NCRBuzz Wire] — ### Monetary Policy Shift in Iraq

**The Central Bank of Iraq has officially devalued the national currency to 1,500 dinars per US Dollar, marking a significant shift in monetary policy.** This decision, finalized during a recent Cabinet meeting, is a direct response to the economic pressures exerted by regional conflicts and the subsequent disruption of critical oil shipping routes. The devaluation is intended to align the official exchange rate more closely with the prevailing market reality, which has seen substantial volatility in recent weeks.

### Financial Metrics Overview

| Metric | Value |

|---|---|

| Previous Official Rate | 1,300 IQD/USD |

| New Official Rate | 1,500 IQD/USD |

| Primary Driver | Regional Conflict / Shipping Disruptions |

| Policy Objective | Monetary Stabilization |

**Market participants are currently observing a significant divergence between the new official rate and the parallel market rate.** Analysts suggest that while the devaluation aims to address immediate fiscal needs, the long-term economic impact will depend heavily on the restoration of stable trade routes and the containment of regional geopolitical tensions.

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🏛️ Background Context

The Iraqi economy is heavily dependent on oil exports, making it highly sensitive to shipping disruptions in the Middle East. Historically, the Central Bank has intervened in the currency market to manage inflation and maintain fiscal liquidity during periods of external shock.

💡 Citizen & Commuter Quick Explainer (FAQ)

Q1: What is the new official exchange rate for the Iraqi Dinar?

The new official exchange rate is 1,500 Iraqi Dinars per 1 US Dollar.

Q2: Why did the Central Bank of Iraq devalue the currency?

The devaluation was implemented to address economic pressures caused by regional conflicts and disruptions to oil shipping routes.

Q3: What is the immediate next step for the market?

The market is expected to remain volatile as it adjusts to the new official rate and monitors ongoing geopolitical developments.

Verified Wires: Economic Times Markets Original Wire Dispatch ↗

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