Iraq’s Dollar Price Spikes: Parallel Market vs Official Rate Explained

The dollar is climbing again in Iraq — crossing 1,430 IQD — and here’s why.link to My FX Buddies BlogIn this episode, we break down Prime Minister Al-Sudani’s financial advisor Mazhar Mohammed Salih’s latest statement explaining that speculators and cross-border traders are driving the rush toward the parallel market.Support My FX Buddies:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://cash.app/$tishwash⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.... ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://paypal.me/tishwash⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠....Get a FREE transcript at:⁠⁠⁠⁠https://rss.com/podcasts/myfxbuddies⁠⁠⁠⁠We’ll explore:Why the parallel market becomes attractive when the dollar price dipsHow small-scale border trade is influencing over half of Iraq’s foreign tradeWhat this means for the official exchange rate and banking systemWhy enforcement, customs control, and anti-money laundering oversight are key to solving the problem📊 For Iraqi dinar holders hoping for a revaluation (RV): This might sound like good news — a higher dollar price usually signals demand for foreign currency — but in reality, this points to instability and leakage in the system, not strength. As long as the parallel market dominates, the Central Bank is fighting an uphill battle to stabilize rates, which delays the conditions that could support a meaningful increase in the dinar’s value.🎧 Listen now as we unpack what’s really happening behind the numbers, and why this is more of a warning sign than a green light for revaluation believers.#IraqEconomy #IraqiDinar #DollarRate #IraqFinance #ParallelMarket #Forex #CurrencyNews #MyFXBuddies #IraqDollar #ExchangeRate