The Rising Dollar Is Testing Banking Reforms; The Central Bank Is Changing Rules, But The Parallel Market Is Resisting

Last updated: August 30, 2026   Al-Mustaqilla/Baghdad/- The dollar is still being sold in the Iraqi parallel market at a significant difference from the price announced by the Central Bank, despite a series of banking and regulatory measures implemented by the authorities during the past months in an attempt to restructure the financial sector and expand official channels for obtaining foreign currency.

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The G20 Financial Test: U.S. Debt, Iran and Trade Reshape the Global Economic Order

As the world's major economies gather for a G20 finance meeting, the financial system is being tested on several fronts at once: rising U.S. debt and bond yields, the economic consequences of the Iran war, trade tensions and Washington's attempt to use the dollar-centered financial system as leverage.

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BRICS Moves Beyond De-Dollarization: The Push for Digital Currency and Cross-Border Settlement

India is preparing to put cross-border digital payments, central-bank digital currencies and local-currency trade at the center of the upcoming BRICS summit — signaling that the next stage of financial diversification may be about building new payment infrastructure rather than simply abandoning the dollar.

Basrah Crude Loses Over 6% On Week

2026-08-29 Shafaq News- Basra  Basrah Heavy and Basrah Medium crude each lost $5.37 a barrel over the week, falling 6.72% and 6.46%, respectively. Both grades nevertheless rose in the final trading session.

Basrah Heavy gained $1.67 a barrel, or 2.29%, in the final session to settle at $74.52. Basrah Medium also rose $1.67 a barrel, or 2.19%, to close at $77.82.

Iraq's Appointments Are On Shaky Ground... The 2027 Budget Will Determine The Fate Of Thousands Of Job Positions.

August 29, 2026Last updated: August 29, 2026    The Independent/- The Federal Public Service Council has brought the issue of government appointments back to the forefront of attention, after confirming that determining the number of job grades, creating them, and the necessary financial allocations for them are directly linked to what will be decided in Iraq’s 2027 budget and the relevant government agencies.

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When the Fed Turns Hawkish Again: Higher Rates, U.S. Debt and a New Dollar Test

Federal Reserve Chair Kevin Warsh's Jackson Hole message has reopened the possibility of higher U.S. interest rates — creating a new test for the dollar, Treasury market and the sustainability of America's debt burden.

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The Strait of Hormuz Becomes a Financial Negotiation: Oil, Sanctions and the Global Economy

The six-month Iran conflict has reached a potentially important new phase as diplomacy increasingly centers on reopening the Strait of Hormuz — turning a military chokepoint into a negotiating instrument with consequences for oil, inflation, sanctions and the global financial system.

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When the Fed and Treasury Pull in Different Directions: U.S. Debt, Inflation and the Next Rate Regime

As Federal Reserve Chair Kevin Warsh prepares to speak at Jackson Hole, markets are watching for clues about interest rates, inflation and the future of U.S. monetary policy — while the Treasury pursues its own strategy to manage long-term borrowing costs.

CBI Deposits Slide 5.6% In H1 2026

2026-08-27 Shafaq News- BaghdadIraq’s total bank deposits fell by 6.19 trillion Iraqi dinars ($4.03B) in the first half of 2026, extending a decline that has taken deposits to their lowest level in recent years, Central Bank (CBI) data showed on Thursday.

Total deposits stood at 104.875 trillion Iraqi dinars ($68.30B) at the end of June, down 5.6% from 111.065 trillion dinars ($72.33B) at the end of 2025.