Protests in Iraq amid local currency devaluation, Central Bank changes

Restrictions from the US Federal Reserve, corruption, and Iraq’s lack of an electronic banking system have all led to the dinar’s recent fall in value against the dollar.
Baghdad dinar protest
Protesters wave a giant Iraqi national flag during a protest against the depreciation of the Iraqi dinar against the US dollar outside the Central Bank of Iraq headquarters in the capital Baghdad on Jan. 25, 2023. - AHMAD AL-RUBAYE/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

Iraqis protested in Baghdad on Wednesday against the drop in dinar’s value. The currency has lost 7% of its value since November. 

The protesters marched through the Baghdad, and outside the Central Bank waving Iraqi flags. One sign read, “The politicians are immersed in financial corruption,” according to posts on Iraqi social media.

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.

Subscribe

Only $100 per year.

Videos

See more