Parliamentary Committee: Government working to reduce gap between parallel and official exchange rate to achieve stability

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Committee member Moeen Al-Kazemi said in a statement followed by "Mil", "The government and the Central Bank have taken several important measures to confront the security and economic challenges in the country, especially in light of the deteriorating conditions in Syria ." Al-Kadhimi continued, "The situation in Syria does not affect the Iraqi economy or the dollar exchange rate in the local market .

Parliamentary Committee: Government working to reduce gap between parallel and official exchange rate to achieve stability

link to My FX Buddies Blog

Committee member Moeen Al-Kazemi said in a statement followed by "Mil", "The government and the Central Bank have taken several important measures to confront the security and economic challenges in the country, especially in light of the deteriorating conditions in Syria ." Al-Kadhimi continued, "The situation in Syria does not affect the Iraqi economy or the dollar exchange rate in the local market .

Government working to reduce gap between parallel and official exchange rate

link to My FX Buddies Blog

Committee member Moeen Al-Kazemi said in a statement , "The government and the Central Bank have taken several important measures to confront the security and economic challenges in the country, especially in light of the deteriorating conditions in Syria ." Al-Kadhimi continued, "The situation in Syria does not affect the Iraqi economy or the dollar exchange rate in the local market .

Central Bank: Achieved international integration by linking the Iraqi electronic payment system to global networks

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The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced today, Wednesday, that the financial inclusion rate has risen to more than 40 % , noting that the bank has achieved international integration by linking the Iraqi electronic payment system to global networks. He pointed out that "the number of permanent wallets reached 1.2 million wallets, and we achieved international integration by linking the Iraqi electronic payment system to global payment networks, which allows the transformation of accepting foreign cards locally and expanding the acceptance of Iraqi cards internationally," adding that "the achievements made in the field of information technology and electronic payments in the Central Bank represent a fundamental shift in the financial system."

Central Bank: Achieved international integration by linking the Iraqi electronic payment system to global networks

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The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced today, Wednesday, that the financial inclusion rate has risen to more than 40 % , noting that the bank has achieved international integration by linking the Iraqi electronic payment system to global networks. He pointed out that "the number of permanent wallets reached 1.2 million wallets, and we achieved international integration by linking the Iraqi electronic payment system to global payment networks, which allows the transformation of accepting foreign cards locally and expanding the acceptance of Iraqi cards internationally," adding that "the achievements made in the field of information technology and electronic payments in the Central Bank represent a fundamental shift in the financial system."

Iran issues new 200,000 toman banknote

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According to the Central Bank, the new design features a check featuring an image of the Ruhollah Khomeini Mosque in Isfahan, while the reverse features a painting by Mahmoud Farshchian called Choghan.

Iran is witnessing an unprecedented surge in popular protests, with the economic situation worsening and the national currency collapsing to record lows. The US dollar has reached 95,300 tomans, while the price of a gold bar has exceeded 79 million tomans.

To reduce speculation, a Sudanese advisor reveals a new monetary strategy.

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Saleh emphasized that "these steps coincide with enhancing the freedom of the foreign exchange process, with a high commitment to transparency and money governance in line with international standards." He pointed out that "this strategy is being implemented in an organized and precise manner by the Iraqi banking system, and specifically targets large transfers, especially those related to financing wholesale trade."

A new proposal is emerging around Iraq’s official exchange rate — link to My FX Buddies and it could have major budget implications. Financial and economic expert Haider Al-Sheikh says there is a proposal to adjust the official dollar exchange rate against the Iraqi dinar as a way to confront mounting economic pressure and boost state revenues. According to Al-Sheikh, the idea involves raising the official exchange rate from 1,300 dinars per dollar to 1,400, a move that could generate more than one trillion dinars annually for the state treasury from oil revenues. Iraq relies heavily on oil income, which currently brings in roughly 8 trillion dinars per month. If you'd like to Support the channel: ⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://cash.app/$tishwash⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.... ⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ https://paypal.me/tishwash⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.... ⁠ a FREE transcript at: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://rss.com/podcasts/myfxbuddies⁠.... He noted that the current caretaker government does not have the authority to implement such a change, but the next government may consider adopting the proposal — particularly as internal debt has climbed above 95 trillion dinars. Supporters argue the adjustment could help ease fiscal pressure, while critics warn it may impact prices and purchasing power. 📌 Why the rate change is being discussed 📌 How it could affect government revenues 📌 What it may mean for citizens and markets 🎧 Listen in for a clear breakdown of the proposal and what could come next. Thanks for Watching! Following Iraq’s Story — Don’t Give Up 💰🔥