This week's key developments
9-14 November: street rates hold near 170,000 per $100
Daily reports from Iraqi News put the US dollar at roughly 169,500 on 9 November, about 169,000 on 10 November and about 169,750 in Basra on 14 November (per $100). Against the official 152,000 per $100, that is a gap of roughly 11-12%. Why it matters: the size of that gap is the figure Iraqi officials say they want to narrow. A steady market this week, rather than a sharp move, is a modest sign of stability. See our coverage: Iraq Deputy PM on the IQD rate gap.
12 November: CBI guidance on stalled import transfers
Following trader complaints about delayed foreign transfers, the CBI said importers whose payments had not arrived abroad should check with their banks or file a complaint, according to Iraq Dinar Investment News (a secondary source; we have not seen the CBI's own statement). Why it matters: smooth import payments are central to confidence in the official rate and in the banking reforms the CBI has been pursuing. Our related article: CBI dollar quota for travellers.
Mid-November: 2027 budget heads toward parliament
The 2027 budget, reported at around IQD 217 trillion by QNA, is moving through Iraq's political process, with lawmakers continuing to debate the October rate reset, per Shafaq News. The shift to program-based budgeting developed with the World Bank is a reform worth noting. Why it matters: a passed, credible budget would give the government a clearer fiscal anchor. Read more: Iraq 2027 budget and the dual reform signal.
Unverified claims
Some dinar blogs this week repeated a claim that trillions of dinars in 50,000-dinar notes had been printed. We found no official CBI confirmation, so we are not treating it as news.
What to watch next week
- Budget progress: whether the 2027 budget is tabled or debated in parliament.
- Street rate: whether the gap to the official rate narrows from roughly 11-12%.
- Import transfers: any CBI statement confirming the backlog of delayed payments has cleared.
- Reserves and dollar supply: any update on US dollar shipments to Iraq, which Iraq Business News reported on 27 October.
Earlier weeks
- 2-8 Nov: Analyst Ahmed Tabaqchali wrote on 6 November about the equity market and the devaluation, noting the RSISX USD index fell 18.4% (Iraq Business News). Street rates sat near 168,000 per $100 (Iraqi News).
- 26 Oct-1 Nov: On 27 October Prime Minister Ali Al-Zaidi said Washington will ship more physical dollars to Iraq; on 25 October a reported IMF financing offer was in the news (Iraq Business News).
- 19-25 Oct: The CBI launched an online replacement service for damaged banknotes on 19 October (Iraq Business News).
- 5-11 Oct: The CBI reset the official rate on 7 October and confirmed it on 8 October; the prime minister defended the move to parliament on 9 October, and lawmakers pressed over the 2027 budget on 10 October (Iraq Business News).
How do I buy Iraqi dinar in Australia?
If you want to hold Iraqi dinar notes, you can buy Iraqi dinar online from Dinar Exchange. We are AUSTRAC-enrolled, supply genuine notes and deliver with insurance. Our guide on how to buy Iraqi dinar in Australia explains ordering, payment and delivery step by step. Currency values can rise and fall, so please buy only what you are comfortable holding.
Frequently Asked Questions
Has the Iraqi dinar been revalued this week?
No. No official revaluation was announced. The most recent official change was the CBI's 7 October rate reset to about 1,500 per dollar (Iraq Business News), which lowered the dinar's official value.
What is the Iraqi dinar rate right now?
Iraqi News reported the street rate at about 169,750 dinars per $100 in Basra on 14 November. The official CBI rate is about 150,000-152,000 per $100, depending on the outlet.
Why is there a gap between the official and street rate?
Demand for physical dollars outside the official channels has pushed the street price above the official one. Iraqi officials have said narrowing the gap is a priority.
Why does the Iraq 2027 budget matter for the dinar?
A credible, approved budget supports confidence in government finances and the currency. The draft reported at about IQD 217 trillion is still being debated.
What did the CBI say about delayed import payments?
On 12 November it told importers whose transfers had not reached suppliers abroad to check with their banks or complain, as reported by Iraq Dinar Investment News.
Where can I buy genuine Iraqi dinar in Australia?
Dinar Exchange Australia is AUSTRAC-enrolled and supplies authentic notes with insured delivery. See our pages on how to buy Iraqi dinar online.
Dinar Exchange Australia is AUSTRAC-enrolled and has supplied authentic Iraqi Dinar notes to Australian and New Zealand customers since 2011. We are a currency exchange provider, not a financial advisor. Consult a licensed advisor before making investment decisions.
