✉news BusinessBanking first seen 21 h ago, last 5 h ago, peak #6
Iraq Devalues Dinar by 14.5% in First Move in Three Years
Original: Iraq Devalues Dinar for the First Time in 3 Years by 14.5%
Iraq has devalued its currency, the dinar, by 14.5%, the first such move in three years. The decision affects purchasing power, imports and salaries in an oil-dependent economy that relies heavily on dollar revenues. Observers are weighing the impact on ordinary Iraqis and on markets, with debate focused on what prompted the devaluation and whether further currency adjustments will follow.
Why now: A sudden major currency devaluation directly affects Iraqis' purchasing power and draws regional financial attention.
IraqIraqi dinarCentral Bank of Iraq
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Evidence
- Iraq Devalues Dinar for the First Time in 3 Years by 14.5% · The Media Line
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