Iraq Devalues Dinar 15% to 1520/USD, First Official Rate Change in 3 Years

The Central Bank of Iraq raised the official dollar rate to 1520 dinars from 1320, a 15% devaluation, citing a widening parallel-market gap, falling oil exports, and depleted FX reserves. This marks the first official rate revision in three years and signals acute balance-of-payments stress. The move may narrow the black-market premium but risks fueling inflation and social unrest.