The Central Bank of Iraq said on October 7, 2026 that revised official transaction rates for the Iraqi dinar against the US dollar would take effect that day. It set the purchase of dollars from the Ministry of Finance at IQD 1,500 per dollar, sales to banks at IQD 1,510, and cash sales to the public at IQD 1,520. The statement defines these as three separate stages in the official transaction schedule; they are not one interchangeable market quote. The bank said the decision followed coordination with the federal government and relied on the amended provisions of Central Bank Law No. 56 of 2004.

The bank said its foreign reserves were adequate and strong and would meet external-transfer requests for trade finance, card settlements and cash sales to travellers without restrictions. Those statements represent the central bank’s assurance and assessment of liquidity; the notice did not publish a reserve amount, a quantitative exchange-regime target or a forecast of future foreign-currency demand. It also presented support for domestic production and industry, fairer competition with imports, an attractive environment for non-oil productive investment and room for small and medium-sized enterprises to expand as policy aims. These are the stated rationale, not measured results for output, prices or employment in the short term.

Publishing the three tiers can help businesses distinguish which official rate applies to a payment involving the Finance Ministry, a bank or a cash transaction. The notice did not state the previous rates, so this report does not calculate the size or percentage of a change. Nor does an official schedule by itself establish the actual availability of foreign currency in every market or how quickly an exchange-rate adjustment passes through to goods prices. Firms should assess their realized costs using their bank’s terms, fees and transaction category. The figures here document a policy notice effective on October 7; they are not a live exchange-rate offer and do not describe subsequent market movements.

Effects on firms can vary over time and with contract structure: an importer paying upfront and a business with an existing fixed-price contract may not face the same cost change at the same time. The notice does not describe a transition period or special treatment for existing contracts, so no such detail is inferred here.