Iraqi Dinar Brief - October 13, 2026: Why They Want the IQD Cut Reversed
The free dinar summary for October 13, 2026: Why They Want the IQD Cut Reversed.
Reset Intelligence / Iraqi Dinar Brief
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Last week Iraq cut its dinar to 1,500 to the dollar. On Sunday the Hoqooq bloc, which is affiliated with Kataib Hezbollah, asked the Federal Supreme Court to strike the cabinet decision behind that cut. The suit names the Prime Minister, the Finance Minister and the Central Bank governor.
The same court dismissed a challenge to Iraq's 2020 devaluation in April 2022. Prime Minister al-Zaidi has said the cut was made to keep salaries paid while oil exports are choked, and to end the trade that lives off the gap between the bank's dollar and the street's.
Monday's street close in Baghdad was 165,950 IQD for $100, against the bank's 152,000. The 2027 budget has still not reached parliament, and a lawmaker from one governing party has tied his vote to the street price coming down. Washington's envoy was in Baghdad on Monday, and al-Zaidi is due in Saudi Arabia on Wednesday.
Today's Read looks at who went to court to stop the cut, and why we expect the challenge to fail.
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