Former Iraqi MP Rasoul Radhi has warned that the dollar exchange rate could rise further in local markets as Iraq faces growing financial pressure from lower oil export revenues.
According to Radhi, the country is dealing with a difficult economic situation caused by the ongoing financial crisis, regional developments, and challenges affecting oil exports. He believes these factors are already pushing the dollar higher against the Iraqi dinar.
He noted that the market exchange rate has already climbed above 155,000 dinars per 100 US dollars and suggested that it could increase even more in the coming days if current conditions continue.
Radhi also claimed that the government may consider adjusting the official exchange rate as a way to deal with declining income from oil sales. In his view, such a move could help offset part of the revenue shortfall caused by reduced exports and economic pressures.
He suggested that the official rate could be raised by around 6,000 dinars per 100 dollars compared to its current level, although no official decision has been announced.
According to Radhi, any changes to the exchange rate would likely be part of broader government efforts to manage public finances and address the impact of lower oil revenues on the state budget.
His comments come at a time when many Iraqis are closely watching currency markets, as changes in the dollar exchange rate can affect the prices of imported goods, consumer products, and the overall cost of living.
For now, the remarks remain an assessment of possible government actions rather than a confirmed policy, and authorities have not officially announced any changes to the exchange rate.
