CBI rules out Dinar-Dollar rate change
Shafaq News – Baghdad
Iraq’s central bank (CBI) on Sunday dismissed reports suggesting a change to the dinar’s exchange rate against the US dollar.
Speaking at the Iraq Investment Forum, CBI Governor Ali al-Allaq emphasized that neither the central bank nor the government is considering any adjustment to the official rate.
The dinar has experienced notable fluctuations in recent years. Under former Prime Minister Mustafa al-Kadhimi, the rate climbed from 121,000 dinars to 140,000 dinars per $100. The current government, led by PM Mohammed Shia Al-Sudani, later set the official rate at 132,000 dinars per $100.
Despite these official adjustments, the dollar has continued to trade above the official rate in local markets, peaking at 170,000 dinars per $100 before stabilizing closer to the official rate in recent months.
