EconomyWhy has Iraq devalued its currency, and why are some MPs against it?

Iraq has devalued the dinar again, giving the government more local currency for each dollar of oil revenue as it faces a large budget shortfall. The new rate is 1,520 dinars per dollar, 200 higher than before. Opposing MPs say the move will increase import and living costs and fault the government for not explaining it to parliament beforehand.

Iraqdinar devaluationcost of livingbudget deficit

AAl Jazeera★★★☆☆2026-10-08 11:59Original