{
  "id": 12655945,
  "title": "Iraq Devalues Dinar 14.5% as Hormuz Disruption Drains Oil Revenue",
  "url": "https://urgent.news/2026/10/07/iraq-devalues-dinar-14-5-as-hormuz-disruption-drains-oil-revenue",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-07T15:30:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Latest-Energy-News/World-News/Iraq-Devalues-Dinar-145-as-Hormuz-Disruption-Drains-Oil-Revenue.html"
  },
  "original_language": "en",
  "account": null,
  "summary": "Iraq has devalued its currency, the dinar, by 14.5% to 1,520 per dollar, in response to a disruption to oil exports through the Strait of Hormuz, which has significantly reduced the country's oil revenue. The cabinet's decision, effective from Wednesday, will increase the dinar value of Iraq's dollar earnings while raising import costs and reducing household purchasing power. Oil sales are Iraq's primary source of state revenue, with shipments falling to about 2.34 million barrels per day (bpd) in August, from over 3.6 million bpd before the war. The devaluation comes as Baghdad prepares a 2027 budget with spending of 217 trillion dinars and a projected deficit exceeding 40 trillion dinars.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}