Iraq devalues its currency as Iran-US war disrupts oil shipping routes

Iraq has officially devalued its currency from 1,300 dinars to 1,500 dinars to the US dollar. The Central Bank announced this decision following a Cabinet meeting, which aimed to address financial, economic, and monetary needs. There has been a noticeable gap between the official and market rates, which widened due to regional conflicts. The market rate increased significantly after the announcement, reflecting ongoing economic challenges.

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