Evening, family. The new rate hit the street hard today. The dollar jumped to 178,000 in Baghdad against the new official 152,000, traders shut Baghdad's markets, and State of Law says more than 20% of salaries have already been eroded. The Central Bank is out reassuring everyone that it's a precautionary, strategic step to secure the budget and support local production, and a government adviser says the same. Parliament isn't waiting: the House scrapped today's agenda to debate the rate, and al-Halbousi has the CBI governor and the Finance Minister in front of the chamber tomorrow, Thursday. Also on the board, Iraq formally asks Syria to be its Hormuz bypass for crude, the Pentagon prepares strike options on Iran, DeSantis declares an emergency in 25 counties, and more attack drones turn up in Mexico. Here's everything on the desk.
Iraq & the Dinar
- The dollar jumps to 178,000 in Baghdad as the new official rate starts — a wide gap with 152,000 — Independent Press Agency (Arabic)
- Iraqi traders close Baghdad markets after dinar devaluation — Shafaq News
- State of Law: more than 20% of salaries have been eroded since the exchange rate change — Economy News (Arabic)
- The Central Bank reassures Iraqis: the new exchange rate is a strategic step to strengthen financial stability — Shafaq News (Arabic)
- Central Bank of Iraq: the exchange rate adjustment is a precautionary measure to secure the budget and support local production — Kurdistan24 (Arabic)
- Government adviser: the rate adjustment is part of precautionary measures to protect economic stability — Iraqi News Agency (Arabic)
- The House postpones today's agenda and dedicates the session to the rise in the dollar exchange rate — Baghdad Today
- Al-Halbousi directs that the Central Bank governor and the Finance Minister be hosted in tomorrow's session, Thursday — Mawazin News (Arabic)
Oil, Energy & the Wider Board
- Iraq formally requests Syria act as a “Hormuz bypass” route for its crude — ZeroHedge
- Pentagon prepares “options” for Trump to strike Iran before the midterms — ZeroHedge
Home Front
- DeSantis declares an emergency in 25 Florida counties ahead of a possible hurricane — The Epoch Times
- More Ukrainian-style one-way attack drones seized in Mexico — ZeroHedge
Links are shared for discussion. Not financial advice — always do your own research.