Amid Parallel Market Fluctuations: CBI Stabilizes Exchange Rate, Reassures Public

The Central Bank of Iraq maintained its commitment to the official dollar rate at 1,310 dinars in Thursday's trading on April 23, 2026, countering pressures imposed by surrounding regional crises. Despite a slight rise in the parallel market (1,325 dinars), the monetary authority continues injecting hard currency to ensure smooth foreign trade. These measures coincide with expert warnings about the repercussions of the Strait of Hormuz closure, which could push oil prices to record highs exceeding $150, necessitating accelerated local economic diversification.