Central Bank of Iraq Cuts Travelers Cash Dollar Allowance From $3,000 to $2,000

Iraq's central bank cut the cash foreign currency allowance available to outbound travelers, for tourism, medical, study, and business trips, from 3,000 dollars to 2,000 dollars per trip, in the week ending July 8, 2026, according to Shafaq News. The move is part of a wider central bank reform push to steer travelers toward prepaid and credit cards and curb arbitrage in the parallel currency market. The lower Iraqi travel allowance could affect the Iran-Iraq border currency channel that partly feeds dollar demand in Iran's informal market.