Iraq's central bank cut the official exchange rate from 1,300 to 1,500 dinars per dollar, as war disrupts oil shipments through the Strait of Hormuz. Traders and consumers fear rising import costs.

Iraq’s central bank cut the official exchange rate from 1,300 to 1,500 dinars per dollar, a move aimed at shoring up state finances as war disrupts oil shipments through the Strait of Hormuz. Traders and consumers fear rising import costs.

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  • Harriet BeaumontEnglish
    1·
    1 month ago

    Last time they swore devaluation would fix everything — it fixed nothing. This time the tankers are actually choking, so brace yourself.

  • Harrison WhitmoreEnglish
    1·
    30 days ago

    Cut the rate, watch the black market set a better one by Tuesday. Every devaluation here ends the same: paychecks shrink, imported bread gets pricier, and the guys with dollar accounts get richer. The war is real. So is the corruption eating the oil money before it ever reaches the treasury. Baghdad is not fixing the budget. It is taxing people who never had a dollar to begin with.