Central Bank Confirms Official Dollar Rate Remains Steady at 1,320 Dinars

The bank's official website

The Central Bank of Iraq.

Haider Ghazi, Media Officer at the Central Bank of Iraq, has affirmed that the official exchange rate of the US dollar against the Iraqi dinar remains unchanged at 1,320 dinars per dollar. He explained that the rates circulating in the media reflect demand in the unofficial market, outside the banking system, authorised to conduct international transfers through correspondent banks.

In an interview with Al-Sabah newspaper, Ghazi said that the rise in the parallel market rate is largely due to customs duties imposed on transactions outside the formal banking system. He noted that the requirement to pay pre-transfer customs charges has increased pressure on those seeking cash dollars, driving up demand for the currency in local markets.

Ghazi also highlighted that traders must present a customs declaration from the ASYCUDA system before completing bank transfers. He reiterated the Central Bank’s guidance that there are two official methods for obtaining dollars:

1-External Transfers via Banks – carried out systematically with all required documentation.

2-Traveller’s Dollars – obtained by depositing Iraqi dinars with licensed companies (categories A and B) and collecting the funds at airport outlets, with the monthly limit set at $3,000.

The Central Bank continues to stress that these channels are the only authorised means of acquiring US dollars in Iraq, ensuring transparency and stability in the official market.


PUKMEDIA