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Short, verified market news summaries; every item names its source and publication date.
Turkish Lira Hits Record Low as Dollar Nears 47 Lira
The Turkish lira fell to a record low against the US dollar on Thursday, July 16, 2026, with the exchange rate weakening to around 47 lira per dollar. The currency has extended a gradual slide since mid-May, when it passed 45.5 per dollar, and is down roughly 7 percent since the start of the year. Turkey's central bank had already warned that disinflation would be slower than expected, largely because of the surge in energy and food prices tied to the Iran-US war and the Strait of Hormuz crisis. As a major importer of oil and gas, Turkey sees higher energy costs widen its current-account deficit and lift demand for foreign currency, adding to the pressure on the lira. Sahmino's live feed also puts the dollar-to-lira rate near 47.
Trading Economics · Jul 16, 2026
Central Bank of Iraq Sells $275 Million in Monday's Dollar Auction
The Central Bank of Iraq (CBI) sold $275,296,889 in its Monday, July 6, 2026 (14 Tir 1405) dollar auction. Of that, the large majority, $265.25 million (about 96 percent), went to letters of credit and outward remittances, while only $10.05 million was cash sales. The remittance and letter-of-credit rate was set at 1,310 dinars per dollar and the cash-sale rate at 1,305 dinars per dollar. The dominance of the outward-remittance channel over cash liquidity is a marker of dollar liquidity flows between Iraq and its trading partners, including Iran.
Iraqi News · Jul 11, 2026
Turkish Central Bank Chief Ties Early Rate Cut to Clarity on Iran Conflict
Turkish central bank governor Fatih Karahan told investors at an Istanbul conference on Friday, July 10, 2026 (19 Tir 1405), that the bank wants to see the July inflation print and more clarity on the Iran conflict before resuming rate cuts, ruling out any move before the July 23 monetary policy meeting. Turkey's policy rate has held at 37 percent since June. Turkish monetary policy directly shapes the lira's path and the trade, tourism and gold flows between Turkey and Iran.
Bloomberg · Jul 11, 2026
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.
Shafaq News · Jul 10, 2026
Iraq Makes Electronic Customs Document Verification Mandatory From July 10 to Curb Dollar Smuggling
Iraqi Customs made electronic verification of certificates of origin and commercial invoices through the ASYCUDA system mandatory at all border points starting July 10, 2026 (19 Tir 1405). As of that date, paper certificates or invoices that cannot be digitally verified in the system are no longer accepted, and declarations lacking electronic verification are automatically flagged, suspended, and subject to administrative fines. According to Iraqi news outlets, the move follows the discovery of schemes in which traders used falsified invoices for goods such as infant formula to obtain dollars from the Central Bank of Iraq at the official rate, then resold them on the parallel market or smuggled them abroad. The measure is part of the central bank's effort to curb the depletion of foreign currency reserves and rein in money laundering.
Iraqi News · Jul 10, 2026
Turkish Lira Deposits Hit 11-Year High as De-Dollarization Advances
Turkish Treasury and Finance Minister Mehmet Şimşek said the share of Turkish lira deposits in the country's total bank deposits reached about 62 percent in the week ending July 3, 2026, the highest level in 11 years. That compares with roughly 31.6 percent in August 2023, before Turkey's economic stabilization program began, marking substantial progress in de-dollarization. Şimşek said, "We will continue our policies to reinforce confidence in the Turkish lira, strengthen macro-financial stability and achieve price stability, which is the prerequisite for sustainable high growth." He added that the balance of foreign-currency-protected deposits under the KKM scheme has fallen from 3.4 trillion lira in August 2023 to about 478 billion lira (roughly 11.75 billion dollars). The progress comes as the Turkish lira has weakened about 8 percent against the dollar since the start of 2026.
Daily Sabah · Jul 10, 2026
Turkish Lira Hits Fresh Record Low as June Inflation Eases Only Slightly to Above 32%
The Turkish lira hit a fresh record low against the dollar on Thursday, July 9, 2026, trading near 46.86 per dollar, per Trading Economics. Turkey's statistics office had reported on July 3 that annual June inflation eased slightly to 32.11%, down from 32.61% in May and the lowest since March. However, energy and food shocks from the intensifying Iran-US conflict have slowed the disinflation trend. Turkey's central bank (TCMB) has held its policy rate at 37% for a third consecutive meeting. For Iranian investors and traders with commercial ties to Turkey, the lira's continued slide can directly affect the cost of imports from the country.
Trading Economics · Jul 10, 2026
Iraqi Dinar Firms Against the Toman as the Rial Weakens
The rate for 100 Iraqi dinars in Iran's free market rose from 11,500 tomans on Wednesday, July 8, 2026 (17 Tir), to 11,690 tomans on Thursday, July 9 (18 Tir). According to Rokna, the increase tracked the broader weakening of the rial against foreign currencies in recent days and was influenced by the rising dollar rate in Tehran's free market. Border currency market analysts also cited regional security developments and stronger demand from border exchange houses for foreign currency as contributing factors.
روزنا · Jul 10, 2026