Iraqi parliament defers its agenda and refers session to discuss decision to raise dollar price; summons central bank governor and finance minister tomorrow

The Council of Representatives on Wednesday voted to postpone today's agenda and convert the session into a general discussion regarding the decision to raise the dollar exchange rate against the Iraqi dinar.

The Parliament's media office said in a brief statement that the council also decided to host the governor of the Central Bank and the finance minister in a session tomorrow, Thursday, to review the reasons for raising the dollar exchange rate and the decision's consequences, in addition to discussing ways to address it.

Jaafar al-Zamili, an MP from the Badr parliamentary bloc, said that the Speaker directed that the governor of the Central Bank and the finance minister be hosted in tomorrow's session to review the reasons for the decision and its repercussions, as well as to discuss ways to remedy it.

Al-Zamili added that the council also set tomorrow, Thursday, as the date for a special session to discuss rising oil prices and their impact on Iraqi public life, noting that the council adjourned its current session until tomorrow, Thursday.

Hassan al-Asadi, head of the National Approach bloc, had called on the government to retract and quickly cancel the decision to raise the dollar exchange rate, warning of its repercussions across different segments of society.

Saba al-Saadi, an MP from the Reconstruction and Development Coalition, said at a press conference held in the parliament building that what the dollar exchange rate is witnessing is "a direct result of the failure of fiscal and monetary policy," considering that the Ministry of Finance and the Central Bank bear responsibility for what she described as "clear mismanagement."

Suzan al-Saad, a member of the parliamentary Industry Committee, said she collected more than 50 signatures from members of the Council of Representatives demanding that today's agenda be stopped and dedicated to discussing the decision to raise the dollar exchange rate against the Iraqi dinar.

This followed the adoption of new exchange rates under which the Ministry of Finance set the dollar purchase price at 1,500 dinars, sold it to banks at 1,510 dinars, and set the public sale price at 1,520 dinars, with the previous rate to be suspended as of the start of business on 7 October 2026.

Earlier on Wednesday, the Central Bank of Iraq described the decision to raise the dinar's exchange rate against the US dollar as a "strategic step" to strengthen financial stability, assuring citizens and the economic sector of the adequacy and strength of its foreign reserves.