Iraq Economic News And Points To Ponder Thursday Morning 6-25-26

The Dollar Is Rising Sharply Towards Its Biggest Monthly Gain.

Money and Business Economy News - Follow-up   The dollar has risen sharply and is on track for its biggest monthly gain in a year on Thursday, as traders bet on higher interest rates in the United States.

The dollar broke through the 1.14 level against the euro this week, reaching its strongest level in 13 months at $1.1325 overnight, before settling in Asian trading at around $1.1353.

The dollar index, which measures the performance of the US currency against a basket of six other major currencies, hit a 13-month high of 101.8 overnight and opened the Asian trading session at around 101.6.

The war with Iran and the sharp rise in oil prices have shifted market expectations for a US interest rate cut this year, and the hawkish tone adopted by the new Federal Reserve Chairman Kevin Warsh last week has led traders to expect an interest rate hike by last October. https://www.economy-news.net/content.php?id=70670

Al-Nassiri: The Rise In The Dollar Exchange Rate In The Parallel Market Is Temporary, And Maintaining The General Price Level Is Under Control.

Money and Business Economy News - Baghdad  Economic and banking advisor Samir Al-Nassiri stated on Thursday that the rise in the exchange rate of the US dollar in the parallel market is temporary and is due to rumors and speculation in the markets, stressing that there is no risk of an increase in the costs of importing basic commodities.

Al-Nassiri explained to “Al-Eqtisad News” that only 5% of the dollars that the Central Bank sells daily to travelers are traded in the black market, and the remainder falls into the hands of speculators who manipulate prices.

He explained that the remaining 95% is secured by the Central Bank at the official rate for traders to import from abroad, and therefore there is no risk of an increase in the prices of imported basic commodities. The overall level of food and basic commodities is under control.

According to Al-Nassiri, "The fluctuation in the dollar exchange rate is due to speculators and economic variables because of the closure of the Strait of Hormuz and the effects of the regional war."

He stressed that this situation is temporary, and the exchange rate will gradually stabilize as conditions in the region calm down, the Strait of Hormuz is opened, and oil exports resume in the planned export quantities.

https://www.economy-news.net/content.php?id=70678

Gold Plunges To A 7-Month Low, Pressured By The Dollar

Money and Business Economy News - Follow-up   Gold prices continued their decline on Thursday, hitting their lowest level in more than seven months, affected by the strength of the dollar.

By 09:45 Moscow time, gold futures for August had fallen 0.29% to $3,997 an ounce.

Meanwhile, spot contracts for the yellow metal fell by 0.52% to $3,978.59 an ounce, after hitting their lowest level since November 2025 on Wednesday.

The price of gold fell below the key $4,000 per ounce level yesterday under pressure from a rising dollar and expectations that the Federal Reserve (the US central bank) will raise interest rates.

According to the CME FedWatch tool, traders expect three US interest rate hikes this year, and see a roughly 67 percent chance of a hike in September.

The dollar rose for the third consecutive day yesterday to its highest level in 13 months, increasing the cost of gold for buyers holding other currencies.

Investors are awaiting the release of US personal consumption expenditures data, the Federal Reserve's preferred inflation gauge, due later today, for further clues about monetary policy. https://www.economy-news.net/content.php?id=70676

Iraq Activates The "Path Of Civilizations" Initiative To Market Internet Capacity And Receives Its First Payment In Dollars.

Money and Business   Economy News – Baghdad   Minister of Communications Mustafa Sand announced the activation of the "Road of Civilizations" project to market cross-border (transit) internet capacities.

The minister said in a statement received by “Al-Eqtisad News”: “Cross-border (transit) internet capacities have been marketed with the Qatari company GBI, through the “Road of Civilizations” project for the land route extending from Al-Faw to Rabia.”

He added: “An agreement was reached according to the long-term right of use (IRU) system to lease fibers from the optical fiber network, and for the first time in the history of Iraq this model is adopted,” adding: “The strategic route: The (Faw-Rabia) route connects data traffic coming from Asia and the Arabian Gulf towards Europe overland via Turkey, which reduces the response time (latency) compared to traditional maritime routes.”

He explained that "this contract comes as a practical step to activate Iraq's geographical position as an international digital corridor, as requests from the Gulf countries have been coming in for about a week, and we have received the first financial payment in hard currency." https://www.economy-news.net/content.php?id=70669

Iraq Signs A Joint Technical Memorandum With Syria To Enhance Cooperation In Water Resources Management.

Money and Business   Economy News – Baghdad    The Ministry of Water Resources and the Ministry of Energy of the Syrian Arab Republic signed a technical protocol on Thursday for joint water resources management and the exchange of technical data.

A statement from the Ministry of Water Resources, received by "Al-Eqtisad News," stated that "the Ministry of Water Resources and the Ministry of Energy in the Syrian Arab Republic signed the minutes of the bilateral Iraqi-Syrian technical meeting regarding cooperation in managing shared water resources and exchanging technical data."

The statement added that "the signing of the minutes came at the conclusion of the meeting held at the Ministry's headquarters in Baghdad, chaired by the Technical Undersecretary of the Ministry of Water Resources, Hussein Abdul Amir Bakka, and the Assistant Minister of Energy for Water and Electricity Affairs in the Syrian Arab Republic, Osama Khaled Abu Zeid, with the participation of the two specialized technical delegations from both sides."

The statement indicated that "the meeting was held based on the directives of the Minister of Water Resources, Muthanna Al-Tamimi, and in light of the technical paper and work axes prepared by the Planning and Follow-up Department/International Water Studies Section, and in coordination with the relevant formations in the ministry, to discuss prospects for cooperation with the Syrian side in managing shared water resources, and developing mechanisms for coordination and exchange of data and technical information, especially with regard to the Euphrates River and topics of common interest between the two countries."

During the meeting, both sides emphasized "the importance of continuing direct technical dialogue, strengthening communication channels between specialists, and developing bilateral cooperation in the field of managing shared water resources, in order to support the technical and institutional efforts of both countries, exchange experiences, and improve follow-up and coordination mechanisms."

The Ministry of Water Resources explained that "the signing of this protocol is within the framework of the Ministry of Water Resources' keenness to enhance cooperation with neighboring countries on shared water issues, and to consolidate technical coordination channels, in a way that serves Iraq's interests, preserves its water rights, and supports the sustainable management of shared water resources." https://www.economy-news.net/content.php?id=70674‍ ‍