The Central Bank of Iraq issued an official statement on Monday denying outright the reports regarding the return of a financial system valued at 600 billion dinars under the pretext of not adopting the previous rate of 1320 dinars per
US dollar, and demanding entities to reinforce amounts according to the current rate of 1520 dinars, confirming that these claims are entirely baseless and merely rumors circulated by news platforms relying on anonymous sources. The statement clarified that the official
banking institution has undertaken the execution of all foreign transfer transactions submitted by banks prior to October 7, 2026, based on the old exchange rate and without imposing any additional financial costs on citizens or beneficiaries, having actually begun receiving
and executing those requests properly. In a related context, the bank emphasized that all electronic payment cards in circulation continue to operate normally and in accordance with the officially approved rate to ensure meeting all basic needs and requirements of
travelers and citizens outside the country. It also reiterated the necessity of adhering to the directives issued by the Media and Communications Commission calling for utmost accuracy and professionalism in circulating and publishing information related to financial markets, exchange rates,
and employee salaries, and verifying their credibility by referring exclusively to competent official authorities before publishing them to the public. The Central Bank concluded its warning by confirming that it will not hesitate to take all deterrent legal measures against
any platform or entity proven to be involved in promoting misleading news and malicious rumors aimed at destabilizing financial and monetary stability in the country.
