The Central Bank instructed financial institutions to apply a new ceiling for prepaid payment cards when used for shopping outside Iraq at point-of-sale terminals where the card is present, setting the limit at the equivalent of five million Iraqi dinars per day and capping monthly spending at the same amount.
The main Saudi stock index closed above 10,300 points after falling in the previous session to about 10,284 points, leading most Gulf bourses toward gains despite regional tensions.
Brent near $105.5/bbl and WTI below $92 after Trump announced increased Russian diesel supplies and a temporary easing of U.S. curbs.
On the sidelines of his participation in the WPC Energy conference in the Saudi capital, the Minister of Electricity, Ali Saadi Wahib, met with his Turkish and Algerian counterparts to discuss expanding cooperation in power generation, transmission, distribution and renewable energy.
Gold rose on Monday morning, supported by a weaker dollar and lower oil prices, as markets await U.S. inflation data this week.
The summit will be held in Wuhu from 18 to 24 October 2026 and will include field trials of parking and smart-cabin systems and long-distance driving tests, along with announcements of production, energy consumption and recycling figures.
Dollar prices fell on Saturday morning to about 163,600 dinars per 100 dollars on the Baghdad exchanges and to 163,500 dinars in Erbil, coinciding with the implementation of the new dollar selling price by the Central Bank of Iraq.
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A government source said the option to raise the dollar exchange rate was proposed and approved during official meetings with the prime minister, while the Council of Ministers decided to raise the buy and sell rates in its last session, which caused market confusion.
The exchange rate of the dollar fell on Thursday in the markets of Baghdad and Erbil. The al-Kifah and al-Harithiya exchanges in Baghdad recorded 165,700 dinars per 100 dollars at the close, after being 166,800 in the morning. Selling and buying prices at local exchange shops ranged between 166,250 and 165,250 dinars. In Erbil the selling price was 165,150 dinars and the buying price 165,100 dinars per 100 dollars.
Dollar exchange rates in Baghdad and Erbil fell Thursday morning after a sharp rise yesterday following the Central Bank’s decision to change the official rate from 1,320 to 1,520 dinars per dollar.
Brent and U.S. West Texas Intermediate crude rose as supply fears resurfaced after an attack on a tanker north of Qatar and a decline in U.S. crude inventories.
The dollar fell to 167000 Iraqi dinars per $100 at the Kifah and Harithiya exchanges in Baghdad, down from 168500 in the morning, with a similar decline in Erbil.
The Council of Representatives voted to postpone today's agenda and turn the session into a general discussion about the decision to raise the dollar exchange rate against the Iraqi dinar, and set a special session tomorrow to host the central bank governor and the finance minister to review causes and implications.
The Iraqi Council of Ministers decided in its regular session yesterday, Tuesday, to adjust the U.S. dollar exchange rate against the dinar, following an urgent recommendation from the finance minister and the central bank governor, and set specific buy and sell rates between the Ministry of Finance, banks and financial institutions.
Gold prices slipped on Wednesday as investors awaited the U.S. Federal Reserve's September meeting minutes for clues on the path of interest rates, with traders pricing an 85% chance of a rate increase by December.
Brent and West Texas crude rose as concerns grew about supply disruptions from a possible storm in the Gulf of Mexico and escalating attacks between Saudi Arabia and the Houthis, alongside signs of increased capacity in a major pipeline and declining U.S. oil and fuel inventories.
The dollar's exchange rate rose Tuesday afternoon in Baghdad and Erbil markets, reaching 163,000 dinars at the Al-Kifah and Al-Harthiya exchanges in Baghdad compared with the morning level.
Sources: Independent Chinese refineries bought at least 12 million barrels for October and November shipments, with total estimates between 15 and 20 million barrels, to compensate for a decline in Iranian oil imports.
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The official rate remains 1,320 dinars per dollar, while the parallel market reached over 160,000 dinars per 100 dollars, with warnings about speculation, liquidity shortages and concern among importers and citizens about the 2027 budget.
Preliminary data show crude exports rose above pre-war levels, amid continued attacks on tankers and higher LNG shipments.
Ministry of Finance data through the end of July 2026 show total general revenues of 39.096 trillion dinars, of which 30.356 trillion came from oil, against expenditures of 65.424 trillion dinars.
The alliance provisionally announced it would hold production quotas at a meeting held on Sunday, while a review of 2027 quotas was delayed after capacity-expansion projects were disrupted by the US-Israeli war on Iran.
Gold markets in Baghdad and Erbil recorded a slight increase on Sunday, with differences between Iraqi and Gulf gold in wholesale and jeweler buying and selling prices.
A report questions the implications of technology companies generating annual revenues and profits that approach the budgets of states, and examines the impact of digital infrastructure on the concept of sovereignty from Iraq's perspective.
Oil Minister Bassem Muhammad Khudair al-Abadi said he discussed increasing export capacities via Ceyhan during his visit to Turkey.
World Gold Council data for September 2026 showed that the total gold reserves of Arab countries listed in the top 100 holders table amounted to 1,649.1 tonnes, representing about 4.52% of the 36,478 tonnes shown in the table.
A well-informed source said today, Saturday, that branches of Al-Rafidain Bank have begun processing transactions of those contracted for units in Basmaya City after an agreement with the Investment Authority to resolve the file of loans allocated to beneficiaries.
The Russian Foreign Ministry warned foreigners and diplomatic mission staff against staying in or traveling to Ukraine.
OPEC+ has postponed a review of production capacities that was scheduled to determine 2027 quotas after expansion projects across the region were disrupted by escalation in the Middle East; the review had been due to be completed by the end of September 2026.
Economic experts say the difference between the official and parallel exchange rates of the dollar raises import costs and price pressures, encourages a shift to informal channels, and propose solutions related to expanding dinar use and improving financing and customs mechanisms.
The dollar held near a two-month high on Thursday, supported by rising U.S. Treasury yields and growing concerns that the war in the Middle East will keep upward pressure on global prices.
Gold steadied at the start of Asian trading ahead of US jobs data due Friday, while futures retreated after US inflation data came in below expectations.
Oil prices fell in Asian trading on Thursday, with West Texas Intermediate at $89.70 a barrel and Brent at $97.42, as investors continued to assess U.S.-Iran talks and Gulf export recovery.
Kpler data showed India's imports of Iraqi crude averaged about 579,000 barrels per day in September through the 27th, a large increase from their level in August.
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Below 156,000 for purchase: Dollar prices fall in Baghdad and Erbil
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The European Bank for Reconstruction and Development said Iraq’s economy was greatly affected by the closure of the Strait of Hormuz.
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