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07.10.26 - 17:39
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After Iran′s Rial, Hormuz Claims Its Second Currency: Iraq Devalues Dinar 13% To Keep Paying Salaries (ZeroHedge)
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After Iran's Rial, Hormuz Claims Its Second Currency: Iraq Devalues Dinar 13% To Keep Paying Salaries
Last weekend, we noted that the clearest scorecard of the US economic war on Iran is the rial, which cratered to a record 2.7 million per dollar (the slide that we first flagged in "Iran's Deadline Expires Today"... Rial Collapses, and which has only accelerated since). Turns out Tehran has company.
On Wednesday, Iraq devalued its currency by 13%, with the central bank raising the dollar-selling price for the public to 1,520 dinars from roughly 1,320. Per Reuters, the cabinet adopted the new structure on Tuesday, effective Wednesday: the Finance Ministry now sells its oil dollars to the CBI at 1,500, banks get them at 1,510 and the public pays 1,520.
That makes Iraq, as Bloomberg notes, the first Gulf Arab state to devalue since the US-Israel war on Iran began in late February. It probably won't be the last thing in the region to break, but it is the first currency peg to do so, w...
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03.10.26 - 14:54
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Irans Währung fällt auf historisches Tief (DW)
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Irans Konflikt mit den USA um die Straße von Hormus hat seinen Preis: Der Wechselkurs der Landeswährung Rial stürzt immer weiter ab - mit drastischen Folgen für Bürger und Wirtschaft....
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14.09.26 - 04:39
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BRICS Steps Off The Dollar, With Iran Pressing Hardest (ZeroHedge)
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BRICS Steps Off The Dollar, With Iran Pressing Hardest
Authored by former CIA officer Larry Johnson
The 18th BRICS summit opened on Saturday with the bloc taking its most concrete step yet toward loosening the grip of the US dollar, adopting a 45-page New Delhi Declaration on the first day and endorsing a payments architecture built to route cross-border trade around the Western financial system. For most members the move was incremental. For Iran — under sweeping US sanctions, a naval blockade, and roughly six months into a war with the United States and Israel — it was closer to a lifeline.
The declaration and the payment rails
Leaders gathered at the Bharat Mandapam convention center adopted the New Delhi Declaration 2026 unanimously on the opening day, with Prime Minister Narendra Modi emerging from a closed session to report that no member had objected to the text. The economic centerpiece was a commitment to expand trade and investment settled in members' own national currencies, an...
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10.09.26 - 15:24
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ECB raises interest rates to 2.5% amid warning Iran war is fuelling inflation (The Guardian)
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Borrowing costs soar in Europe and oil tops $105 a barrel as bank flags mounting price pressures in eurozoneBusiness live – latest updatesThe European Central Bank has raised interest rates to 2.5% and warned that the risk of higher inflation over the next year has risen following renewed fighting in the Middle East.It came as government bonds soared on a jump in oil and gas prices overnight after the latest US and Iran attacks on ships in the strait of Hormuz. Continue reading......
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10.09.26 - 14:36
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ECB Hikes Interest Rates for Second Time Since Iran War (Bloomberg)
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The European Central Bank increased interest rates for the second time since the Iran war started, responding to signs inflation is set to stay well above 2%. The deposit rate was lifted by a quarter-point to 2.5%. Bloomberg's Oliver Crook reports from Berlin. (Source: Bloomberg)...
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09.09.26 - 06:48
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Rupee slips to 94.95 as crude nears $100 amid intensifying US-Iran tensions (Times of India)
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On Wednesday, the Indian rupee faced a decline against the US dollar, influenced by rising crude oil prices and growing tensions between the US and Iran. Although a slip in the dollar provided some cushion for the rupee, domestic stock markets suffered losses, with both the Sensex and Nifty falling. Investors are now awaiting inflation data releases from the US and India....
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