Coffee's on. After the big jump, the dollar is coming back down in Baghdad, and the Central Bank is defending the new rate as a response to the oil revenue slump. Parliamentary Finance puts the government's debts at about 210 trillion dinars, al-Marsoumi walks through how to calculate what the devaluation actually costs you, and there's footage out of Erbil's exchange market showing how the physical cash trade really works — people hauling cash in woven sacks. On the wider board, the Pentagon prepares strike options on Iran as a tanker is hit off Qatar, Qatar masses an LNG tanker fleet, and French bonds are having their worst decade since 1803. Here's the drop.
Iraq & the Dinar
- The dollar falls in Baghdad after a big jump following the Central Bank's decision — Alsumaria (Arabic)
- CBI defends dinar devaluation amid oil revenue slump — Channel 8
- Parliamentary Finance: the government is carrying debts of about 210 trillion dinars — Iraqi News Agency (Arabic)
- Al-Marsoumi explains how to calculate the financial impact of the dinar's devaluation — Alsumaria (Arabic)
- Footage from Erbil's currency exchange market shows how physical cash trading actually works — some arrive with huge sums in woven plastic sacks — Kurdistan Watch on X
Oil, Energy & the Wider Board
- Pentagon prepares “options” for Trump to strike Iran before the midterms; tanker attacked off Qatar — ZeroHedge
- Qatar masses a tanker fleet holding 2% of global LNG shipping capacity — ZeroHedge
Money & Markets
- Le Pen seen as the most credible presidential candidate as French bonds suffer their worst decade since 1803 — ZeroHedge
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