Iraq Economic News and Points To Ponder Sunday Afternoon 12-7-25
Despite Fluctuating Dollar Exchange Rates, Gold Prices In Baghdad Remain Stable.
Economy | 07/12/2025 Mawazin News - Baghdad: Gold prices, both foreign and Iraqi, remained stable in Baghdad's local markets. This morning, wholesale gold prices in Baghdad's Al-Nahr Street market showed a selling price of 847,000 Iraqi dinars per mithqal (approximately 4.5 grams) of 21-karat gold from the Gulf, Turkey, and Europe at 847,000 dinars, and a buying price of 843,000 dinars – the same prices as yesterday.
The selling price of 817,000 dinars per mithqal of 21-karat Iraqi gold was 813,000 dinars, while the buying price was 813,000 dinars. As for gold prices in jewelry shops, the selling price of a mithqal of 21-karat Gulf gold ranged between 850,000 and 860,000 dinars, while the selling price of a mithqal of Iraqi gold ranged between 820,000 and 830,000 dinars. https://www.mawazin.net/Details.aspx?jimare=271281
Saleh's Statement: No Change In The Exchange Rate And The Iraqi Economy Is Stable.
Time: 2025/12/06 Reading: 90 times{Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed on Saturday that the official exchange rate is fixed at 1320 dinars and that the recent fluctuations have no significant impact, while indicating that the Iraqi economy is stable and inflation has declined to 2.5%.
Saleh said in a press statement followed by Al-Furat News that “what happened in the parallel exchange market during the past few days is nothing more than an emergency and temporary fluctuation resulting from inaccurate information effects known in economic analysis as “color noise,” which is confused information that is mostly based on rumors, and leads to uncertain behavior and short-term speculation in the unregulated money market.”
He added that "transitional periods usually witness such price movements, especially as the country continues in the post-legislative election phase, and in parallel with the implementation of the customs governance system and its digital procedures in accordance with international standards, including customs tracking systems and modern digital applications that enhance transparency and discipline in the commercial and financial environment together."
Saleh explained that “the aforementioned fluctuation in the price of the dollar against the dinar in the parallel market has not left a substantial impact on the stability of the general price level, as monetary policy continues to achieve its operational and intermediate goals in stabilizing prices in general and maintaining the stability of the official exchange rate in particular, a path that is reflected in the decrease in the annual inflation growth rate to normal fractional levels not exceeding 2.5% annually.”
He pointed out that “the policy of fixed exchange rate is an adopted policy based on fundamental principles, foremost among them the efficiency of foreign reserves supporting the stability of the official exchange rate of 1320 dinars per dollar. It is also noted that international institutions, foremost among them the World Bank and other multilateral global financing institutions, view with satisfaction the government’s reform steps in the banking sector and the general financial and economic sector, which encourage the investment environment, especially the trend towards strengthening the partnership between the state and the private sector, all of which are among the basic pillars for building a diversified economy that supports the paths of sustainable development identified by the methodology of Iraq Vision 2050.” LINK
Government Advisor: Recent Fluctuations In The Parallel Market Are "Temporary" And Do Not Affect The Iraqi Economy
Economy | 06/12/2025 Mawazin News - Baghdad: The Prime Minister's financial advisor, Mazhar Muhammad Salih, affirmed that the official exchange rate of 1,320 dinars is fixed and stable, indicating that the recent fluctuations in the parallel market are "temporary" and do not have a substantial impact on the economy.
Salih stated in a press release that what occurred in the exchange market over the past few days represents a "temporary fluctuation" resulting from inaccurate information, which he described as a kind of "colorful noise" based on rumors, driving short-term speculative behavior within the unregulated market.
He added that transitional periods—especially in the post-parliamentary election phase—typically witness such movements, noting that the implementation of digital customs governance systems and international standards for tracking and inspection played a role in triggering temporary market reactions.
He clarified that this fluctuation has not been reflected in the general price level, as monetary policy continues to achieve its objectives in stabilizing prices, which has contributed to a decline in the annual inflation rate to approximately 2.5%, a level considered normal.
Saleh pointed out that the stability of the exchange rate is a well-established policy based on strong foreign reserves that support its stability, explaining that international institutions - foremost among them the World Bank - are following positively the government's reform steps in the banking and financial sectors, in addition to the trends of strengthening the partnership between the state and the private sector, which are among the basic pillars of the path of sustainable development within Iraq's Vision 2050. https://www.mawazin.net/Details.aspx?jimare=271238
The Dollar Remains Stable In Baghdad At The Close Of The Stock Exchange.
Economy | 07/12/2025 Mawazin News - Baghdad: The dollar exchange rate against the Iraqi dinar remained stable in Baghdad markets as the stock exchange closed this evening.
Selling price: 143,750 dinars per 100 dollars . Buying price: 141,750 dinars per 100 dollars.
https://www.mawazin.net/Details.aspx?jimare=271291
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