US MEASURES RAISE THE DOLLAR’S VALUE IN IRAQ, AND AN EXPERT SAYS WAR WILL PUSH IT ABOVE THE 2,000-DINAR THRESHOLD

US MEASURES RAISE THE DOLLAR’S VALUE IN IRAQ, AND AN EXPERT SAYS WAR WILL PUSH IT ABOVE THE 2,000-DINAR THRESHOLD.

On Thursday, June 12, 2025, economic and financial expert Nasser Al-Kanani predicted that the dollar exchange rate in Iraq would rise again in the coming period due to recent tensions in the region. He also indicated that the exchange rate could exceed 200,000 dinars per $100 if war breaks out in the region.

Al-Kanani told Al-Jabal platform, “With the recent security tensions, threats, and American moves to withdraw diplomats from Iraq and some countries in the region, as well as the mutual US-Iranian threats, the dollar has risen significantly in the past few hours. This rise, according to the data, will continue in the coming hours and days with the increase in tension.”

He explained that “this tension will push many citizens, as well as traders, to withdraw the dollar from the market, and increase import quantities for fear of any emergency that may occur due to the expected war in the region.” He indicated that “the outbreak of any war in the region will raise the dollar high in the local market and will exceed 200,000 dinars for every 100 US dollars, and perhaps more than that. Therefore, the Iraqi economic situation will remain turbulent, anxious, and unstable during the coming period, which will witness a continuous rise in the exchange rate and perhaps the prices of some other basic commodities.”

The region is witnessing tensions, marked by US withdrawals from several embassies, including Iraq, following Iranian threats to target US bases.

Earlier today, the US Embassy in Baghdad revealed that the evacuation of its citizens from Baghdad and the US Consulate in Erbil is mandatory, not voluntary, due to escalating regional tensions.

The embassy said in statements monitored by Al-Jabal that “the evacuation of our citizens is not voluntary, but rather a mandatory departure by official order.”

She added, “The departure is immediate, and we will not reveal the number of employees leaving for security reasons,” noting that “the departure order includes the embassy in Baghdad and the consulate in Erbil.”  

She pointed out that “the departure of non-essential government employees came due to escalating regional tensions.”

Earlier today, the spokesman for the Commander-in-Chief of the Armed Forces, Sabah al-Numan, said that the evacuation of some US embassy staff was a “precautionary measure,” stressing that “the pace of stability is increasing.”

Al-Numan said in a statement received by Al-Jabal, a copy of which was received by Al-Jabal, that “all Arab and foreign diplomatic missions operating in Iraq enjoy the widest range of safe working conditions,” indicating that “the evacuation of some US embassy employees from Iraq or other areas in the Middle East is a precautionary and regulatory measure related to them.”

He added, “The evacuation decision has nothing to do with the presence of any security indicators on the ground within Iraqi territory.” 

Al-Naaman pointed out that “all security indicators and briefings confirm the escalation of stability and the restoration of internal security throughout the country.”

He explained that “the security forces continue to implement their plans with high efficiency to ensure security and stability,” noting that “intelligence and field reports do not indicate the existence of actual threats that would impact the work of the missions or the general situation in the country.”

He continued: “The Joint Operations Command and other security agencies are monitoring all developments and confirming that they will continue to operate at a high level of readiness.”