With The Stability Trilogy, Monetary Policy Tames Inflation And Protects Citizens’ Pockets.
Time: 2025/06/25 10:54:42 Reading: 795 times {Economic: Al Furat News} The Prime Minister’s financial advisor, Mazhar Muhammad Salih, confirmed that the monetary policy, whose objectives under the Iraqi Central Bank Law No. 56 of 2004 include reducing the growth in inflation rates to a stable path.
Speaking to Al Furat News Agency, he pointed out that “this policy was able to control demand levels and additional spending power in the economy, by sterilizing local liquidity by providing foreign currency at a stable official exchange rate for the dinar not exceeding 1,320 dinars per dollar, and on a scale that led to weakening the effects of the parallel market and reducing it to financing the country’s foreign trade.”
Saleh explained that “this came as a result of the cancellation of the foreign currency window at the beginning of this year and the adoption of the principle of foreign exchange bolstering to finance the country’s foreign trade, praising the successes of this shift in terms of financing speed and compliance.”
He added, “The success of the price defense policy adopted by the trade policy contributed to the remarkable spread of central markets in cooperation with the private sector, which reflected in the price moderation of these market components in a competitive manner, ensuring the stability of essential goods for citizens and others.”
He explained that “the three policies, in combination, have had a positive impact on economic policy in promoting stability in citizens’ cash income, with remarkable success over the past two years, as annual inflation growth did not exceed 3%, which is within the normal acceptable range for estimating annual price base growth in the country.” LINK
Al-Araji Confirms To A US Official That The Iraqi Government Believes In Dialogue And Diplomacy To Resolve Outstanding Issues
Politics Number of reads: 266 Baghdad / NINA / National Security Adviser, Qasim Al-Araji, received on Wednesday the US Chargé d’Affaires in Baghdad, Stephen Fagin.
During the meeting, according to a statement by the advisory, they reviewed the regional situation and developments and welcomed the recent calm in the region.
Fagin praised the role of the Iraqi government and the measures taken by the security services to protect embassies and diplomatic missions, appreciating the role of the Iraqi security services and their high professionalism.
Fagin also praised the role of the Iraqi government in repatriating its citizens from Al-Hawl camp and rehabilitating them despite the circumstances the region is going through.
For his part, Al-Araji stressed that the Iraqi government believes in dialogue and resolving outstanding problems through dialogue and diplomacy, expressing the Iraqi government’s welcome to the ceasefire, to restore stability to the region and the world.
Al-Araji pointed out that Iraq has good and balanced relations with all countries and has commonalities with neighboring countries, expressing his hope for establishing peace, stopping the war and lifting the siege on Gaza. /End https://ninanews.com/Website/News/Details?Key=1237454
Central Bank Of Iraq: Foreign Exchange Reserves Sufficient To Cover 13 Months Of Imports
Money and Business The Central Bank revealed on Wednesday that Iraq’s foreign currency reserves are sufficient to cover 13 months of imports.
The bank said in a report that “import coverage is often viewed as a measure of the number of months that imports could be sustained if all foreign currency inflows were to cease,” noting that “the global standard used is for reserves to cover all imports for six months.”
He added, “The ratio of foreign reserves to imports has decreased from 16 months at the beginning of 2024 to 13 months at the beginning of 2025,” indicating that “despite the decrease in the ratio, Iraq’s reserves will still cover imports for 13 months if Iraq does not receive foreign currency revenues.” https://economy-news.net/content.php?id=56631
With The Stock Exchange Closed, A New Price For The Dollar Was Announced In Baghdad And Erbil.
Stock Exchange The US dollar exchange rate fell against the Iraqi dinar on Wednesday in Baghdad and Erbil as the stock exchange closed.
Exchange rates in Baghdad: Selling rate: 142,250 dinars per $100. Buying rate: 140,250 dinars per $100.
Exchange rates in Erbil: Selling price: 141,000 dinars per $100. Buying price: 140,950 dinars per $100.
https://economy-news.net/content.php?id=56637
After The Iran-Israel War, Global Oil Prices Recover
Economy | – 06/25/2025 Mawazine News – Oil prices rose on Wednesday as the ceasefire between Iran and Israel was assessed to be holding, but remained near multi-week lows amid prospects of uninterrupted crude flows.
Brent crude futures rose 85 cents, or 1.3 percent, to $67.99 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 87 cents, or 1.4 percent, to $65.24.
Brent and WTI settled on Tuesday at their lowest levels since June 10 and June 5, respectively, before Israel launched a surprise attack on key Iranian military and nuclear facilities on June 13.
Oil prices lost about $4 per barrel on Tuesday as the ceasefire between the two sides was announced. Overall, oil prices have lost $10 per barrel over the past two days. https://www.mawazin.net/Details.aspx?jimare=263050
Gold Prices Fall In Baghdad Markets And Stabilize In Erbil
Economic Number of readings: 136 Baghdad / NINA / The prices of foreign and Iraqi gold decreased on Wednesday in the local markets of the capital, Baghdad, and stabilized in Erbil.
The selling prices of gold, in the wholesale markets on Al-Naher Street in the capital, Baghdad, this morning, for one Mithqal of 21 karat Gulf, Turkish and European gold, were recorded at 660 thousand dinars, and the purchase price was 656 dinars.
The selling price of one Mithqal of 21 karat Iraqi gold was recorded at 630 thousand dinars, and the purchase price was 626 thousand.
As for the prices of gold in goldsmiths, the selling price of one Mithqal of 21 karat Gulf gold ranges between 660 thousand and 670 thousand, and the selling price of one Mithqal of Iraqi gold is between 630 thousand and 640 thousand dinars.
As for gold prices in Erbil, they recorded stability, as 22 karat gold was sold for 690 thousand dinars, 21 karat gold was sold for 660 thousand dinars, and 18 karat gold was sold for 565 thousand dinars. / End
https://ninanews.com/Website/News/Details?key=1237467
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