Iraqi Dinar: 5 Years Long Road to Stability Officially at 1144??

Five years. Three exchange rate resets. And the crisis continues.

⁠link to My FX Buddies Blog⁠

Since the 2020 devaluation under Mustafa al-Kadhimi, Iraq has been struggling to stabilize its exchange rate. Al-Sudani’s government reduced the rate again in 2023, introduced an electronic platform for transfers, and eventually abolished it — yet the gap between the official and parallel market rates remains wide. In this episode, we cover:

How the 2020 devaluation saved the budget but triggered inflation Why the 2023 rate reduction and electronic platform failed to fully stabilize markets Why the dollar remains “king” despite Iraq’s push to diversify currencies How speculation, smuggling, and weak trade policy undermine monetary policy The political dimension — US oversight vs. Iran’s shadow economy Why experts say structural reforms (not just monetary tweaks) are the only way forward Support My FX Buddies:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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📊 For dinar watchers: This history shows why a quick fix or overnight RV is unlikely — Iraq needs real trade and financial reform before lasting stability (and value increase) is possible. #iqd⁠ #Iraq⁠ #IraqiDinar⁠News