Saturday Iraq News Posted by Tishwash at TNT 9-26-2026
TNT:
Tishwash: Iraqi Dinar Strengthens Against US Dollar Following Prime Minister's US Visit
At a Glance
The Iraqi dinar has strengthened against the US dollar, with 100 US dollars trading at 157,000 dinars.
Iraqi Prime Minister Ali Faleh Al-Zaidi met with US financial institutions, banks, and President Donald Trump in New York and Washington.
Oil exports have rebounded near normal levels to 4.5 million barrels daily, bolstered by stabilizing financial conditions.
Channel8 sources note that expanding electronic platform access for traders and steady US dollar inflows are critical factors supporting the currency.
The Iraqi dinar registered notable gains against the US dollar following a high-level diplomatic and economic tour by Prime Minister Ali Faleh Al-Zaidi to the United States.
Key Financial Developments and Economic Drivers
Official Engagements: Prime Minister Al-Zaidi, accompanied by the ministers of finance and electricity, held pivotal discussions with US financial institutions to build active economic partnerships and reinforce national monetary stability.
Oil Export Recovery: With production reaching 4.5 million barrels per day and exports exceeding 70 million barrels last month, oil revenues have largely stabilized following disruptions tied to the regional conflict with Iran.
Market Perspectives: Erbil currency market spokesperson Keify Khoshnaw told Channel8 that while dinar strength depends heavily on dollar liquidity, market volatility may persist through the end of the month amid ongoing coalition footprint adjustments.
FYI
The Central Bank of Iraq manages monetary policy and regulates foreign currency exchange through electronic platforms designed to streamline trade financing and stabilize market exchange rates. link
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Tishwash: Al-Zidi discusses with the head of the Middle East Institute the path of economic and financial reforms
Prime Minister Ali al-Zaidi received Stuart Jones, President of the Middle East Institute for Research and Studies, at his residence in New York on Thursday, on the sidelines of his participation in the 81st session of the United Nations General Assembly
During the meeting, regional and international developments were discussed, along with the economic and financial reforms being pursued by Iraq, and the government's efforts to enhance the investment environment, support the national economy, and diversify sources of income
Stuart Jones praised the Iraqi government’s success in implementing its anti-corruption policies, addressing financial issues, and advancing the economic reform process that supports the move towards a more efficient economy and stimulates investment climates in Iraq, thereby enhancing opportunities for development, economic partnership, and investment with major companies. link
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Tishwash: Under the patronage of Al-Zaidi, Iraq hosts a roundtable for American and Iraqi banks.
Prime Minister Ali al-Zaidi affirmed on Friday that the government looks forward to an effective partnership with American financial institutions and banks, which will contribute to the development of the Iraqi banking sector.
The Prime Minister's Media Office stated in a press release that, "Under the patronage and in the presence of Prime Minister Ali al-Zaidi, the Permanent Mission of Iraq to the United Nations in New York hosted a roundtable discussion on Thursday, Baghdad time, for representatives of a group of American banks and financial institutions, along with a number of officials and specialists in economic and financial affairs, and representatives of Iraqi banks."
According to the statement, the Prime Minister emphasized in his remarks that "Iraq is witnessing a new phase of economic transformation and financial and banking reform," noting that "the weakness of the Iraqi banking system in recent years was partly linked to its limited openness and integration with the international banking system, particularly with American banks."
Al-Zaidi called on American banks and financial institutions to participate in building a new economic future for Iraq, stressing that "the entry of American banks into the Iraqi market will represent a qualitative leap in developing the banking sector, strengthening its relationship with the global financial system, and enhancing the efficiency of financial and investment transactions."
He stated that "Iraq is currently facing a new economic phase, producing approximately 4.5 million barrels of oil per day. The government's policy aims to increase production levels to 10 million barrels per day, as part of a vision to maximize resources and utilize them for development and economic diversification."
Al-Zaydi also emphasized Iraq's openness to American and international companies and banks, and the government's efforts to provide an attractive investment environment and offer necessary facilities to investors. He noted that "American banks have ample opportunities to participate in the Iraqi economy and finance projects and investments across various sectors."
He continued, "The government also looks forward to an effective partnership with American financial institutions and banks, which will contribute to developing the Iraqi banking sector and more effectively integrating the Iraqi economy into the global financial and economic system."
He explained that "the government has established a clear roadmap for economic, financial, and banking reform, and has begun a comprehensive reform plan for state-owned banks. This plan aims to enhance their efficiency, raise the level of governance and compliance, and establish a banking sector capable of meeting the demands of the modern economy."
He affirmed that "the anti-corruption and public funds protection measures are moving in the right direction, as the government is working to strengthen the systems and procedures that ensure the protection of state funds and raise the level of transparency and governance." link
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Tishwash: The Foreign Minister will visit Washington at the end of this month to continue discussions on developing cooperation.
Foreign Minister Fuad Hussein meets with US Assistant Secretary of State for Near Eastern Affairs Donald Blome.
Discussing developments in the security situation in the Middle East region and its repercussions on the countries of the region.
The meeting took place on the sidelines of the 81st session of the United Nations General Assembly in New York.
The Foreign Minister said during the meeting, which took place on the sidelines of the 81st session of the United Nations General Assembly in New York, according to a statement from the Ministry of Foreign Affairs, that “Iraq was among the countries most affected by the tensions and conflicts between the United States and Iran and the accompanying security and economic repercussions,” stressing “the importance of sparing Iraq and the region further repercussions resulting from the escalation of tensions.”
The Foreign Minister notes Iraq’s continued support for international efforts aimed at reaching an understanding between the United States and Iran that would contribute to ensuring the security and freedom of navigation in the Strait of Hormuz.
Fuad Hussain praises the diplomatic efforts being made by Pakistan, Qatar and the United States in this regard.
The Foreign Minister indicated his upcoming visit to Washington at the end of this month to complete discussions on developing cooperation between the two countries in the political, security and economic fields.
He stressed the importance of continued cooperation between the Central Bank of Iraq and the US Treasury Department in combating money laundering and promoting compliance with international banking standards.
The meeting addressed the new sanctions that the US administration intends to impose on Iran and their potential repercussions on Iraq, as well as the course of security and military cooperation between the two countries and the transition to a future phase that focuses on advice, training and intelligence cooperation, in conjunction with completing the procedures for ending the mission of the international coalition in Iraq.
Both sides emphasized "the importance of continuing the partnership in the field of combating terrorism and enhancing Iraqi capabilities in this area." link