Iraqi dinar exchange rate set at 1,520

The Central Bank of Iraq set the exchange rate of the dinar at 1,520 against the dollar, after officially ending the dollar auction system at the beginning of 2025, supported by American pressures to limit currency transfers to sanctioned entities, especially Iran. This resulted in the emergence of an unofficial parallel market, leading to a significant disparity between the official rate and the black market rate. Additionally, the Central Bank currently prohibits the disbursement of salaries and remittances in dollars to maintain exchange rate stability.

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