The Central Bank of Iraq issued official directives on Wednesday to adopt a new foreign currency exchange rate structure, setting the final retail selling rate for the public at 1520 dinars per US dollar. This step comes in accordance with
the cabinet's decision taken during its twenty-second session held on October 6, 2026, which aimed to introduce calculated adjustments to exchange values to suit current financial, monetary, and economic needs. Based on the powers vested under the Central Bank of
Iraq Law No. 56 of 2004 and its amendments, the new price lists were approved to include purchasing the dollar from the Ministry of Finance at 1500 dinars, selling to banks at 1510 dinars, up to the prescribed public rate.
In the same context, concerned authorities urged all institutions to adopt these prices in all financial transactions and immediately work on updating banking systems and related service channels, while instructing affiliated branches and units to strictly adhere to and begin
implementing the new prices and canceling the previous mechanisms starting from the beginning of official working hours.
