Peregraf — Iraq's Central Bank (CBI) has reduced the monthly cash allocation of U.S. dollars for adult travelers from $3,000 to $2,000, describing the move as part of broader reforms to improve foreign currency management and encourage digital payments.
In a statement issued on Wednesday, the CBI said the new limit is intended to "develop the management of foreign currency sales operations, enhance the efficiency of resource distribution, and align with international banking best practices."
The central bank stressed that the measure is regulatory rather than restrictive and is designed to ensure sustainable access to foreign currency while adapting to changes in the economy and global payment systems.
The CBI said it is encouraging travelers to rely more on credit and prepaid payment cards to cover expenses abroad, saying electronic payments provide greater flexibility, support the transition toward a digital economy, and strengthen confidence in Iraq's banking sector.
The decision comes shortly after the United States reportedly resumed shipments of U.S. dollars to Iraq earlier this month.
Under the new rules, Iraqi travelers can purchase up to $2,000 per month from banks and licensed exchange companies at the official Central Bank exchange rate of 132,000 Iraqi dinars per $100.
By comparison, the parallel market exchange rate currently stands at around 153,500 Iraqi dinars per $100, making dollars purchased through the official banking system significantly cheaper than those available on the black market.