The Iraqi Central Bank (CBI) has said it sees no reason to devalue the dollar and other currencies against the dinar and has no plans to do so in the next three to five years.

In April, the Iraqi Federal Court met for the third time on the issue, rejected a request to appreciate the dinar against the dollar, and dismissed the case.

The complaints against the finance minister and the central bank governor were also dismissed, and the court closed the case.

On December 12, 2020, the Iraqi central bank devalued the Iraqi dinar amidst a financial crisis, and low oil prices gripped the country. The bank devalued the dinar against the dollar to stabilize the currency. 

It set the exchange at 1,450 dinars per dollar to the Finance Ministry and 1,460 to public banks. Previously it was exchanged at 1,220 dinars per dollar.