Iraq’s Central Bank has firmly ruled out any change to the country’s exchange rate, pushing back against recent market rumors and speculation.
Central Bank Governor Ali al-Alaq said there are no plans to adjust the value of the Iraqi dinar. He stressed that Iraq’s foreign currency reserves remain strong and stable, describing talk of a possible exchange rate shift as unfounded.
Al-Alaq reassured the public that the bank is closely monitoring the market and has the tools needed to maintain stability. He emphasized that the current exchange rate policy remains in place and that there is no intention to devalue or revalue the dinar.
At the same time, the governor confirmed that the government is moving forward with customs reforms. A key part of that effort is the implementation of the ASYCUDA system, a United Nations-backed digital customs platform designed to improve transparency, efficiency, and revenue collection.
The government is also working on updating tariff structures as part of a broader push to modernize trade procedures and strengthen non-oil revenues.
Together, the measures signal that while monetary policy will remain steady, Iraq is pressing ahead with structural economic reforms aimed at improving financial management and boosting state income.
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