✉news BusinessBanking first seen 2 d ago, last 1 d ago, peak #11
Iraq devalues dinar 13% amid Hormuz disruption
Original: Iraq devalues dinar 13% as Hormuz disruption hits oil revenue
Iraq has devalued its dinar by around 13% after disruption near the Strait of Hormuz hit oil export revenues, a major blow to a state budget almost entirely dependent on crude sales. The move raises import costs for ordinary Iraqis and signals mounting fiscal pressure on Baghdad as regional tensions disrupt the oil shipments that fund the government.
Why now: Regional tensions around the Strait of Hormuz are disrupting oil revenues, forcing Iraq to adjust its currency policy.
IraqIraqi dinarStrait of Hormuz
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