Iraq Devalues Dinar 14.5% as Hormuz Disruption Cuts Oil Revenue

Iraq devalued the dinar by 14.5% to 1,520 per dollar, following months of oil export disruption via the Strait of Hormuz that reduced government revenue. The cabinet set the Finance Ministry purchase rate at 1,500 and bank sales rate at 1,510 dinars per dollar. This marks a significant fiscal adjustment, reflecting Iraq's vulnerability to regional supply disruptions and its reliance on oil income.