Iraq Central Bank Announces $1 Billion Dollar Cash Shipment Arriving From US
The shipment is the first phase of a plan to send one billion dollars monthly to Iraq, with diplomatic and financial efforts underway to raise that figure to $2.5 billion monthly to eliminate the gap between the official and parallel exchange rates
ERBIL (Kurdistan 24) - The Central Bank of Iraq exclusively told Kurdistan 24 on Saturday that a new dollar cash shipment worth one billion dollars will arrive in Baghdad from the United States within less than one week, as part of ongoing negotiations between Iraqi PM Ali al-Zaidi and American officials to significantly increase the volume of dollar cash sent to the country.
Mahmoud Dagher, adviser and spokesman for the Central Bank of Iraq, told Kurdistan 24 exclusively: "Within less than a week, a new dollar cash shipment from the United States will arrive in Baghdad worth one billion dollars cash. This development will have a positive impact on strengthening the value of the Iraqi dinar and maintaining financial stability."
He added that the new dollar amount will be directly put to service in the process of balancing the financial market and supporting the Iraqi dinar.
The Exchange Rate Decline Explained
On the recent decline of the dollar's exchange rate in domestic markets, Dagher clarified that this positive change is a result of the monetary policy the Central Bank follows through increasing the volume of dollar supply, alongside the economic reforms and changes that have entered the market.
The Phased Plan
According to information obtained by Kurdistan 24, PM al-Zaidi's negotiations with the American side are continuing with the aim of reaching agreement on a significant increase in the volume of dollar cash sent to the country. In the first phase, one billion dollars will be sent monthly on a continuous basis starting within the coming days. Meanwhile, diplomatic and financial efforts are concentrated on raising that figure to $2.5 billion monthly, with the aim of eliminating the gap between the dollar and dinar exchange rates in the market entirely.
The shipment comes after a prolonged gap in dollar cash convoys to Iraq. The last shipment was approximately $500 million sent on August 6, 2026, and the absence of a new convoy had been creating pressure on Iraq's foreign exchange market. The resumption of the dollar supply at double the previous shipment size, with a target of $2.5 billion monthly, represents a significant escalation in the US-Iraq financial cooperation track and reflects the broader Erbil-Baghdad-Washington relationship at a moment when Iraq is simultaneously managing militia disarmament demands, the closure of Iran border crossings under US pressure, and active budget negotiations with the Kurdistan Region.