Iraq Economic News and Points To Ponder Thursday Afternoon 11-6-25
Al-Shibli: The Central Bank Governor Has Failed To Control The Currency Market.
Economy | 06/11/2025 Mawazin News – Baghdad: Member of the Finance Committee, Nazim al-Shibli, asserted that the performance of the Central Bank Governor raises many questions, indicating his failure to manage the country's monetary policy. This, he stated, has allowed currency smuggling rings to operate freely.
Al-Shibli said, "The current monetary policy has not achieved the required stability; rather, it has contributed to deepening the economic crisis plaguing Iraq."
He added, "The absence of strict oversight of Iraq's financial affairs has opened the door for currency smuggling rings to operate abroad, which has negatively impacted the local market and the value of the dinar."
He explained that "the continuation of this situation threatens the country's economic security and exacerbates the suffering of citizens, necessitating urgent and decisive measures to stop the drain on hard currency and regulate the markets." https://www.mawazin.net/Details.aspx?jimare=269809
The Dollar Ends The Week With A Slight Increase In Local Markets.
Economy | 06/11/2025 Mawazin News - Baghdad: The exchange rate of the US dollar against the Iraqi dinar saw a slight increase in local markets in the capital, Baghdad. The selling price reached 142,250 dinars per 100 dollars, while the buying price reached 140,250 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=269826
During His Meeting With A High-Level American Delegation, Al-Araji Stated: The Iraqi Government Is Committed To Openness Towards All Countries Of The World.
Thursday, November 6, 2025, 4:58 PM | Politics Number of views: 150 Baghdad/ NINA / National Security Advisor Qasim al-Araji affirmed that the Iraqi government is committed to openness with all countries of the world.
The National Security Advisory stated in a press release: "Al-Araji met today with a high-level American delegation headed by the Director of the US National Counterterrorism Center, Joseph Kent, and in the presence of the Chargé d'Affaires of the US Embassy in Baghdad, Joshua Harris."
During the meeting, they discussed developing relations between Iraq and the United States in a way that serves and strengthens common interests, as well as continuing joint cooperation and the exchange of expertise and information in the field of counterterrorism.
The American delegation praised Iraq's political acumen in avoiding involvement in international and regional conflicts and its efforts to de-escalate tensions in the region.
For his part, al-Araji affirmed that the Iraqi government is committed to openness with all countries of the world in a way that serves Iraq's security and economic interests and strengthens cooperation in the field of development, noting that the strategic relationship with the United States serves both countries and enhances common interests.
During the meeting, al-Araji also expressed his gratitude to the countries that have withdrawn their citizens from al-Hol camp, praising the success of the recent conference in New York on this issue. He explained that Iraq's goal is to completely close al-Hol camp in order to ensure the sustainability of security and stability in the region and the world.
For its part, the American delegation praised the Iraqi government's role in withdrawing Iraqi families from al-Hol camp, rehabilitating them, and reintegrating them into society. https://ninanews.com/Website/News/Details?key=1260663
Iraq's Gold Reserves Are Approaching The 171-Ton Mark
Money and Business Economy News – Baghdad The World Gold Council confirmed on Thursday that Iraq's reserves of the yellow metal have approached the 171-ton mark, maintaining its global ranking among the countries with the largest gold reserves.
The council said in its latest statistics for November that Iraq did not buy any gold during the first seven months of 2025, yet it maintained its 29th place globally out of 100 countries, with the largest reserves of the precious metal.
He pointed out that Iraq’s gold reserves amounted to 170.9 tons, which is equivalent to 21.6% of its other hard currency reserves, and thus it came fourth in the Arab world after Saudi Arabia, Lebanon and Algeria with the largest gold reserves.
The council noted that the United States of America tops the list of the world’s largest gold holders, with 8,133 tons, followed by Germany with 3,350 tons, then Italy with 2,451 tons, while Trinidad and Tobago and Haiti are at the bottom with 2.0 and 1.8 tons respectively.
It is worth noting that the World Gold Council, which is based in the United Kingdom, has extensive experience and in-depth knowledge of the factors affecting market changes, and its members include the world’s largest and most advanced gold mining companies. https://economy-news.net/content.php?id=62019
Gold prices rise again in Baghdad
Economy | 06/11/2025 Mawazin News - Baghdad: Gold prices, both Iraqi and foreign, have risen in local markets in Baghdad. This morning, wholesale gold prices in the Al-Nahr Street market in Baghdad reached 794,000 Iraqi dinars for one mithqal (approximately 4.5 grams)
of 21-karat gold (Gulf, Turkish, and European) and 790,000 dinars for one mithqal, compared to 788,000 dinars yesterday. The selling price of one mithqal of 21-karat Iraqi gold was 764,000 dinars, with a buying price of 760,000 dinars.
As for gold prices in jewelry shops, the selling price of one mithqal of 21-karat Gulf gold ranged between 795,000 and 805,000 dinars, while the selling price of one mithqal of Iraqi gold ranged between 765,000 and 775,000 dinars.
https://www.mawazin.net/Details.aspx?jimare=269828
Oil Prices Stabilize After Falling To Their Lowest Level In Two Weeks
Energy Economy News — Follow-up Oil prices were largely stable early on Thursday (November 6, 2025), after hitting their lowest level in two weeks at settlement in the previous session.
This comes amid continued pressure on the market due to weak demand and a global oversupply of crude oil.
Brent crude futures rose 22 cents to $63.72 a barrel by 7:40 a.m. Baghdad time, while U.S. West Texas Intermediate crude futures settled at $59.81 after rising 21 cents.
In the previous session, oil prices declined after the US Energy Information Administration announced that US crude oil inventories rose by 5.2 million barrels to 421.2 million barrels last week, compared to expectations of an increase of 603,000 barrels.
Prices have fallen for the third consecutive month.
Global oil prices fell for the third consecutive month in October, driven by concerns about oversupply following production increases by the Organization of the Petroleum Exporting Countries and its allies, coinciding with continued rising production from non-OPEC producers.
In a note to clients, JPMorgan Chase indicated that global oil demand rose by 850,000 barrels per day from the beginning of the year until November 4, which is less than the growth the bank had previously predicted at 900,000 barrels per day. https://economy-news.net/content.php?id=62009
Weekly Trading Indicators For The Iraq Stock Exchange
Thursday, November 6, 2025 | Economy Number of views: 77 Baghdad/ NINA / The Iraq Stock Exchange (ISX) held five trading sessions during the first week of November 2025, from Sunday, November 2, 2025, to Thursday, November 6, 2025.
The following indicators were achieved during this week:
1. The number of shares traded during this week exceeded two billion.
2. The value of shares traded during this week exceeded six billion Iraqi dinars.
3. The ISX60 index closed at 945.53 points at the beginning of the week and closed at 945.08 points at the end of the week, reflecting a decrease of 0.05% from its opening close.
The ISX15 index closed at 1149.36 points at the beginning of the week and closed at 1171.72 points at the end of the week, reflecting an increase of 1.91% from its opening close.
4. During the week, (5086) buy and sell contracts were executed on shares of companies listed on the market. /End
https://ninanews.com/Website/News/Details?key=1260673
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