My FX Buddies

Got something to say to this podcast? Send a voicemail, and you might hear yourself on the next episode! Iraq is looking to dramatically increase the amount of US cash dollars My FX Buddies Blog entering the country as Baghdad tries to narrow the gap between the official exchange rate and the parallel market. Prime Minister Ali al-Zaidi says the government is working to increase dollar shipments f...

Got something to say to this podcast? Send a voicemail, and you might hear yourself on the next episode! Is the Iraqi dinar really the 2nd worst-performing Arab currency? My FX Buddies blog A new report citing data attributed to Bloomberg says the Iraqi dinar has fallen 14.2% against the U.S. dollar since the beginning of 2026, placing it behind the Libyan dinar among the Arab currencies cited. Bu...

Got something to say to this podcast? Send a voicemail, and you might hear yourself on the next episode! The Central Bank of Iraq introduces a new electronic system for replacing damaged currency. https://www.myfxbuddies.com/2026/10/the-central-bank-of-iraq-introduces-new.html The Central Bank of Iraq announced on Sunday the introduction of a new electronic system for replacing damaged currency, a...

Got something to say to this podcast? Send a voicemail, and you might hear yourself on the next episode! This message is coming from Washington—not Baghdad. My FX Buddies Blog The U.S. State Department says the Iraqi market offers promising trade and investment opportunities for American companies and exporters. According to the statement reported by Iraq Observer, Washington sees opportunities pa...

Where are the $3 billion Iraq was expecting? https://www.myfxbuddies.com/2026/10/is-3-billion-new-carrot-iraq-is-still.html A new report from Al-Mada has put another major question on Iraq's dollar market. Parliamentary Finance Committee member Jamal Kojar says the Iraqi government was expecting $3 billion in Iraqi funds held in the United States to be released in one lump sum. But Kojar says he c...

A major accusation is coming from Baghdad. My FX Buddies Blog link Zuhair al-Jalabi, a member of Iraq's Coordination Framework, says the United States continues to exert significant influence over Iraq's political, economic and security decisions. According to the statement reported by Al-Maalomah, al-Jalabi argues that U.S. influence has expanded beyond politics and security into Iraq's financial...

I searched specifically for the announcement shared with me, including Arabic-language searches for variations of: https://www.myfxbuddies.com/2026/10/did-iraqi-central-bank-really-announce.html - “Central Bank of Iraq” - “suspending publication of exchange rates” - “parallel market” - “freezing the parallel market” - “suspending publication of dollar rates” I could not find a current official CBI...

A new Iraqi government policy is putting the Iraqi dinar back at the center of domestic commerce. Mazhar Muhammad Saleh, an adviser to Prime Minister Ali al-Zaidi, says there is a government direction to adopt the Iraqi dinar for transactions within Iraq, in accordance with the country's existing legal framework. The announcement comes only days after Iraq implemented a new exchange-rate structure...

Iraq has officially entered a new exchange-rate era. My FX Buddies Blog Beginning October 7, 2026, the Central Bank of Iraq adopted a new exchange-rate structure: • 1,500 IQD per USD — dollar purchase price from the Ministry of Finance • 1,510 IQD per USD — dollar sale price to banks • 1,520 IQD per USD — cash dollar sale price to the public The Central Bank says the change was made because of cur...

The dollar is rising wildly in Iraqi stock markets. My FX Buddies Blog The government raised the exchange rate of the dollar against the dinar. The exchange rate of the dollar against the dinar has skyrocketed. The government said the decision came after an emergency presentation from the finance minister and the central bank governor. The exchange rate in Baghdad is 185, Erbil 180, and Sulaymaniy...

A major exchange-rate figure has appeared in Iraq's 2027 federal budget draft: 150,000 Iraqi dinars per $100. https://www.myfxbuddies.com/2026/10/1500-dinars-per-1-iraqs-2027-budget.html According to Iraqi MP Dilan Ghafoor, the draft budget uses this exchange-rate figure and projects that the adjustment could add approximately 20 trillion dinars to government revenues, bringing the estimated budge...

Is the Iraqi dinar stuck in a narrow trading range? https://www.myfxbuddies.com/2026/10/iraqs-dinar-waiting-on-budget-what.html Iraqi economist Nabil Al-Marsoumi says the dollar-to-dinar exchange rate in Iraq's parallel market could remain relatively stable during the next stage, with fluctuations potentially limited to around 2% up or down. Al-Marsoumi describes the situation as the dinar being i...

Iraq has issued a new clarification about the possibility of removing zeros from the Iraqi dinar-and the wording matters. My FX Buddies Blog A government source says that discussing or studying a proposal to remove zeros does not mean it has been approved or that implementation has begun. The issue remains in an initial discussion and evaluation phase, with no decision or implementation date annou...

The U.S.-Iraq relationship is entering a major transition. Link to My FX Buddies Blog The U.S.-led international coalition's military mission in Iraq is scheduled to conclude at the end of September 2026, marking the end of a major chapter in the two countries' relationship. Iraqi officials have described September 30 as the fixed deadline for the conclusion of the coalition's military presence. B...

Iraq's oil exports are recovering—but the economics behind those exports are becoming much more complicated. https://www.myfxbuddies.com/2026/09/iraq-between-oil-and-dollar.html Iraq's Oil Ministry said September crude exports were averaging about 2.6 million barrels per day, significantly above the levels seen during the worst disruption to shipping through the Strait of Hormuz. But there's a cri...

MORE U.S. CASH DOLLARS ARE COMING TO IRAQ. https://www.myfxbuddies.com/2026/09/us-dollars-headed-to-iraq-again-why.html Iraq's government says a new shipment of U.S. dollar banknotes will arrive in the country in the coming days following understandings reached between Prime Minister Ali Faleh al-Zaidi's government and the United States. Government spokesman Haider al-Aboudi said the continuation...

AMERICAN BANKS AND IRAQ ARE TALKING AND THE SUBJECT IS BANKING REFORM. My FX Buddies Link Prime Minister Ali al-Zaidi is calling for stronger cooperation between Iraq and American financial institutions following a roundtable in New York involving representatives of American banks and financial institutions, Iraqi banks, and economic and financial officials. According to the Iraqi Prime Minister's...

Iraq's 2027 budget is moving toward Parliament — and the exchange rate is now part of the discussion. 🇮🇶💵 My FX Buddies Blog Iraq's Parliamentary Finance Committee is preparing for the expected arrival of the 2027 federal budget draft on October 15, according to committee members and other Iraqi reporting. One of the major numbers being discussed is a potential budget deficit of approximately 65...

Who is running Iraq’s economy — and is there one coordinated economic plan? https://www.myfxbuddies.com/2026/09/iraqs-big-economic-question-who-is.html A new September 22 report raises questions about how Iraq is managing some of its most important economic files, including banking reform, liquidity, dollar access, foreign transfers, government spending and the exchange market. The article quotes...

U.S. troops are preparing to leave Iraq — and Secretary of State Marco Rubio has now met https://www.myfxbuddies.com/2026/09/iraq-at-turning-point-rubio-meets-iraq.html with Iraqi Prime Minister Ali al-Zaidi in New York. The meeting comes just days before the scheduled September 30 departure of the remaining U.S. troops from Iraq. But there's another major deadline happening at the same time. Iraq...

FINALLY — THE CENTRAL BANK OF IRAQ HAS SPOKEN. 🇮🇶💵 https://www.myfxbuddies.com/2026/09/finally-cbi-speaks-on-iraqs-rising.html As the dollar continues to rise in Iraq's local markets, the Central Bank of Iraq has issued a direct statement addressing what's happening. And the CBI is making an important claim: Iraq has sufficient foreign reserves to meet foreign-currency demand. So if the Central B...

The Iraqi dollar market is moving higher again, with the parallel-market rate in Baghdad approaching 160,000 Iraqi dinars per $100. My FX Buddies Blog On Thursday morning, September 17, Al-Kifah and Al-Harithiya exchanges opened at approximately 158,850 dinars per $100, up from 157,250 at the start of Wednesday's trading. At Baghdad currency exchange offices, the reported selling price reached app...

Could Iraq eventually move away from paper currency altogether? https://www.myfxbuddies.com/2026/09/iraqs-radical-dinar-proposal-abolish.html A new proposal from Iraqi economic expert Safwan Qusay is putting an extraordinary idea into the currency and banking debate: instead of removing zeros or simply issuing larger denominations, Iraq could move toward electronic payment cards and eventually eli...

Iraq’s Central Bank may be preparing another major step to narrow the gap between the My FX Buddies Blog link official dollar exchange rate and the price being charged in the parallel market. According to sources cited by the Independent Press Agency, the Central Bank is considering measures to create a more disciplined and unified dollar-selling price through licensed exchange companies and autho...

Could changes to Iraq’s relationship with the US Federal Reserve put pressure on the Iraqi dinar? https://www.myfxbuddies.com/2026/09/big-warning-for-iraq-could-losing-us.html New warnings from Iraqi economic experts are raising important questions about what could happen if Iraq were to move away from the current US financial protection surrounding its oil revenues and reserves. The experts quote...