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Lesson 48

Iraq’s FX Settlement and Iran’s Market

Iraq’s FX system must be described with current institutional dates. The Central Bank of Iraq announced on 1 January 2025 that external transfers had fully moved to correspondent-bank arrangements after the earlier electronic platform.
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Sahmino editorial· 15 August· 2 min read· Currency

Iraq’s FX system must be described with current institutional dates. The Central Bank of Iraq announced on 1 January 2025 that external transfers had fully moved to correspondent-bank arrangements after the earlier electronic platform. Its December 2024 notice also described additional settlement currencies. Older explanations centred on a daily dollar auction cannot simply be reused as today’s complete transfer mechanism. Iraqi payments can affect regional trade costs and expectations, but an official institutional change does not prove the size or direction of an effect on Tehran’s cash market.

Worked example (hypothetical)

An invoice of 100,000 units with a 1% settlement charge and a 0.5% conversion cost has 1,500 units in measured costs. Compare like currencies and terms before relating a regional quote to an Iranian one.

Check your understanding

What date supports the institutional update? The CBI’s 1 January 2025 announcement. Current availability still needs current provider and official information.

Currency MarketSahmino AcademyIraq Dollar Auction

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