Shafaq News- Basrah

Iraq’s Basrah crude prices fell by around 5% on Tuesday, despite gains in benchmark crude futures.

Basrah Heavy crude slid $3.97, or 5.36%, to $70.15 perbarrel, while Basrah Medium crude dropped 5.08% to $74.15 per barrel.

Brent crude futures rose $0.03, or 0.03%, to $104.8per barrel. US West Texas Intermediate (WTI) crude gained $0.20, or 0.21%, to $96.66per barrel.

The OPEC reference basket stood at $115.86 per barrel,up 2.67%.

Shafaq News

Oil prices edged up on Tuesday after a report that theUnited States had struck Iran's Qeshm ​Island, raising concerns about anescalation of the eight-month conflict and prolonged disruptions to Middle ‌Eastoil supplies.

US West Texas Intermediate crude was up 20 cents, or0.21%, at $96.66 a barrel while Brent crude futures rose 3 cents, or 0.03%, to$104.8 a barrel by 0355 GMT.

Both benchmark prices dropped more than 7% on Mondayas talks between Iranian and ​Qatari officials lifted hopes for an end to theUS-Israeli war with Iran.

The United States struck Iran's ​Qeshm Island, theWall Street Journal reported on Tuesday, citing US officials. Some of theofficials ⁠described the assaults as defensive in nature to prevent Iran fromhaving the freedom to attack commercial ships ​in the Strait of Hormuz.

"The report added a degree of risk premium backinto the oil price. Just ​when markets were starting to price in a morediplomatic path, this reminder of ongoing military activity has flipped thetone," said Tim Waterer, chief market analyst at KCM Trade.

However, the inability of prices to sustain thosegains suggests that a substantial ​geopolitical risk premium is alreadyembedded in oil prices, said Priyanka Sachdeva, head of market insight atPhillip ​Nova.

"Unless there is concrete evidence of furtherdisruption to physical supplies or critical energy infrastructure, freshheadlines alone may struggle ‌to sustain ⁠another rally."

Meanwhile, Tehran said on Monday that contacts betweenIran and the US to end their war are continuing, after days of Iranian talkswith Qatari mediators ended with altered proposals but no breakthrough.

Trump raised doubts on Monday about whether he wouldfollow through on a threatened resumption of military strikes against Iran andsaid a deal ​with Tehran could happen.

The ​US-Iran conflict that began in ⁠late February hassharply reduced traffic through the Strait of Hormuz, which previously carriedabout a fifth of global crude oil and natural gas supplies.

The Iran war ​is a leading cause of high gasolineprices that are weighing on voters, ​and Trump is ⁠under pressure to end theconflict.

Brent ended October at its highest in six months onconcerns that the Middle East conflict could escalate again after Tuesday's USmidterm elections.

Iranian President Masoud Pezeshkian said SupremeLeader Ayatollah Mojtaba Khamenei ⁠had granted ​the government certainauthorities for peace talks.

Additionally, the US will bring together ​delegationsfrom Ukraine and Russia in Abu Dhabi on November 10 to 11 to discuss endingMoscow's war against Ukraine, post-war security agreements ​and de-escalation.

(Reuters)

Only the headline is edited by ShafaqNews.

Shafaq News- Baghdad

The Central Bank of Iraq (CBI) on Monday announced an increase in the cash dollar allowance for travelers from $2,000 to $3,000, effective Nov. 3, 2026.

In a statement, the bank said eligible travelers could obtain the allowance once every two months, up to six times a year, under existing regulations.

On Sunday, CBI denied reports that it had raised the allowance from $2,000 to $3,500. The bank’s Media Director Haider Ghazi told Shafaq News that a document circulating on social media claiming the allowance would rise to $3,500 was forged, confirming that no such decision had been issued.

The fake document, attributed to the bank's Banking Supervision Department, claimed the increase would take effect on Monday, November 2. The CBI rejected the claim, reaffirming its commitment to the regulations in force at the time.

Shafaq News- Baghdad/ Erbil

The US dollar closed slightly lower in Iraq on Monday, trading around 168,000 dinars per $100.

According to a Shafaq News market survey, the dollar tradedin Baghdad's Al-Kifah and Al-Harithiya exchanges at 168,250 dinars per 100dollars, down from the morning’s 168,350 dinars.

In the Iraqi capital, exchange shops sold the dollar at168,750 dinars and bought it at 167,750 dinars, while in Erbil, selling pricesstood at 168,200 dinars and buying prices at 168,100 dinars.

Shafaq News- Baghdad

Large Iraqi importers face foreign-transfer delays of one to one and a half months, pushing some traders to seek dollars on the parallel market, economist Ahmed Al-Janabi told Shafaq News.

Iraq raised the official dollar selling rate to the public from 1,320 to 1,520 dinars per dollar on Oct. 7, under a Cabinet decision approved a day earlier. On the morning it took effect, the parallel-market price of one dollar rose to 1,685 dinars in Baghdad's Al-Kifah and Al-Harithiya exchanges.

Since the start of 2025, Iraq has handled foreign transfers through commercial and international correspondent banks instead of the central bank's dollar platform, as part of efforts to enhance transparency and comply with international standards. Nawar Al-Saadi, a professor of international economics, told Shafaq News that the core problem is not the end of the central bank's dollar platform itself, but that administrative and banking procedures have not been developed enough to keep pace with the transition to the new banking system and ensure fast trade transfers.

Bank Bottlenecks

Uneven bank capacity, complex requirements for importers, and banking and customs bureaucracy have created extra obstacles, particularly requirements to submit data in advance and pay duties and taxes before some import procedures are completed, according to Al-Saadi. The government suspended its advance customs payment requirement on Oct. 6, after it raised problems over when duties were collected and how that affected importers. Al-Saadi said the episode showed the need to coordinate monetary, fiscal and customs policy before adopting any new measures. Paying upfront freezes part of a trader's working capital and raises storage, shipping and delay costs, he said, adding pressure on small firms' liquidity and hindering the flow of commercial capital.

Al-Janabi said the difficulties in trade financing affect two main groups: large regular importers and small traders who lack suitable official banking channels. He said trade financing depends on the Trade Bank of Iraq and four foreign banks, which are also seeing delays in completing importers' transfers. The delays also raise demand on the parallel market and add to import costs, while small traders have no dedicated platform for official financing. The central bank is now working on a mechanism or platform for them, though fund flows must be monitored, with sources and uses verified, to prevent money laundering or the financing of illicit commercial activity.

Meanwhile, Jaafar Al-Hamdani, deputy head of the Baghdad Chamber of Commerce, told Shafaq News that transfer delays are disrupting the local market and directly affecting businesspeople's and importers' capital cycle. Smooth trade depends on how quickly capital moves and on importers completing transactions with foreign markets. Many importers have paid their banks and submitted documents proving payment, yet their transactions remain notably delayed, he explained. The chamber is following up on the problems with government bodies, the central bank and Iraqi banks to ease and speed up transfer procedures.

Speaking to Shafaq News, economist Ahmed Abed Rabbo linked the trade-finance difficulties to structural weaknesses in the banking sector, citing restrictions and sanctions on several Iraqi banks that limited their ability to deal in dollars and use external banking channels, and the slow pace of a reform program that the global management consultancy Oliver Wyman is carrying out in coordination with the central bank.

Read more: Banking sector faces turning point in Iraq’s reform drive

The restrictions trace back to 2023, when the US Federal Reserve and Treasury flagged dozens of private banks over transactions suspected of facilitating dollar flows to Iran and other sanctioned parties. On July 18, the central bank said seven banks had qualified to pass the first phase of the reform program and return to non-dollar correspondent channels, with dollar dealings to follow once additional requirements are completed.

According to Abed Rabbo, Iraq has moved from regulating foreign transfers to a more complex stage that depends on banks' ability to carry out trade efficiently and quickly. The availability of foreign currency alone is not enough unless a trader has a bank with foreign correspondent relationships and clear procedures that ensure transfers are completed without delay or extra costs, he said. Speeding those banks' return to dealings in euros, UAE dirhams, and Chinese yuan would widen financing options, reduce reliance on the few institutions that now hold the largest share of transfers, and create competition in banking services, he said, urging faster implementation of the Oliver Wyman program and a wider pool of qualified banks, rather than leaving reform in lengthy administrative tracks.

Alternative Currencies

Dealing in other currencies could succeed, Al-Janabi said. He said the Iraqi Banks Association has proposed returning some banks to the international banking system in non-dollar currencies, particularly as a number of them have completed Oliver Wyman's reform requirements but have not yet regained normal activity. The route could “ease restrictions” on Iraqi banks and give traders more options, but needs practical steps that let those banks actually resume operations.

Al-Saadi called dealing in the euro, yuan, and dirham an important step to diversify trade financing and reduce total reliance on the dollar, but warned against treating it as a quick or sufficient way to end the parallel market's influence. The success of alternative currencies also requires correspondent banks, settlement agreements, adequate liquidity, reliable transfer channels and compliance with international standards. The question, he explained, is whether the financial system can deliver foreign currency to the real importer at the right speed and cost.

Parallel Market

The parallel market continues to benefit from the gap between actual demand for foreign currency and official banking channels' ability to meet it. Al-Saadi said supplying dollars alone or introducing alternative currencies cannot end the parallel market's influence, because it reflects a weakness in official banks' ability to meet importers' needs quickly and efficiently.

“The more transfers stall, the more room opens for informal dealing.”

Iraq's trade system also needs more long-term contracts with known origins, which would speed up transfers and letters of credit and ease the US Federal Reserve's verification procedures, economist Safwan Qusay told Shafaq News. Knowing suppliers and the sources of goods and documenting contracts would reduce delayed or rejected transfers when “there are doubts about suppliers or the nature of the supplies.”

Qusay said the central bank took measures to shorten transfer times from 23 days to three in an effort to reduce delays and meet dollar demand more smoothly, in addition to moving toward other currencies for trade financing. But he cautioned that some small and mid-sized traders still turn to the informal market instead of using official bank accounts and benefiting from dollars at the approved rate of 1,520 dinars per dollar. Some buy dollars on the parallel market and bring in goods through unofficial crossings or change the type of goods they import.

Widening these traders' access to the electronic platform, particularly for traders in Iraq's Kurdistan Region and the "liberated areas," would ease pressure on the parallel market, Qusay said, provided banking is linked with taxes and customs in a single electronic system. Such a system would identify the trader, the nature of the imported goods, fees owed, storage locations and the final buyer.

On Nov. 1, Deputy Prime Minister for Economic Affairs Mohammed Ali Tamim said the parallel-market dollar rate would fall very close to the official rate, citing government and central bank measures and $3 billion in US cash he said Washington had decided to send over two months.

Consumer Costs

Al-Janabi cautioned that some traders may import at the official rate but sell to consumers at costs calculated on the parallel rate to widen profit margins, which calls for monitoring by the relevant agencies and economic security.

Al-Hamdani said transfer delays directly affect prices of goods and services, while Al-Saadi explained that importers first bear the cost of delay, financing and storage before those burdens pass to Iraqi consumers and affect their purchasing power.

Shafaq News- Baghdad

The Central Bank ofIraq's (CBI) official reserves stood at about 113.991 trillion dinars (about$75 billion) on Oct. 15, 2026, up from 101.718 trillion dinars in September,according to the bank's financial indicators.

The 12.273trillion-dinar increase in the reported dinar value came after Iraq devaluedits currency on Oct. 7, raising the official selling price of the dollar to1,520 dinars from 1,320, which increases the local-currency value offoreign-currency reserves.

Foreign investmentsmade up about 77.925 trillion dinars (about $51.3 billion) of the total,according to the data reviewed by Shafaq News. Gold and Special Drawing Rights(SDRs), a reserve asset issued by the International Monetary Fund, accountedfor about 35.324 trillion dinars (about $23.2 billion), while cash held in theCBI's vaults stood at about 742 billion dinars (about $488 million).

Shafaq News-Baghdad/ Erbil

On Monday, goldprices hovered around 925,000 IQD per mithqal in Baghdad and Erbil markets,according to a Shafaq News market survey.

At Baghdad's Al-NahrStreet wholesale market, 21-carat Gulf, Turkish and European gold sold for920,000 IQD per mithqal (equivalent to five grams) and was bought at 916,000IQD, up from Sunday's 913,000 IQD.

Iraqi 21-carat goldsold for 890,000 IQD per mithqal and was bought at 886,000 IQD.

At jewelry stores,21-carat Gulf gold sold for between 920,000 and 930,000 IQD per mithqal, whileIraqi gold sold for between 890,000 and 900,000 IQD.

In Erbil, pricesalso rose. 22-carat gold sold for 987,000 IQD per mithqal, 21-carat for 943,000IQD and 18-carat for 808,000 IQD.

Shafaq News- Abu Dhabi

Global oil inventories have fallen by nearly 1 billion barrels since the US-Israeli war on Iran disrupted shipping through the Strait of Hormuz, sharply depleting the reserves that help shield energy markets from supply disruptions, Sultan Al Jaber, CEO of Abu Dhabi National Oil Company (ADNOC), said on Monday.

Diesel stockpiles in some regions have dropped to their lowest seasonal levels in 35 years, while the global liquefied natural gas (LNG) market faces a supply shortfall of about 600 billion cubic feet, he said at the UAE's ADIPEC conference.

"We need expanded strategic storage, larger stockpiles of products, and flexible refining capacity closer to consumer markets," Al Jaber added. "Infrastructure must be built before it is needed and supported by advanced logistics."

https://t.co/LvVlwLtXaj

— ADIPEC (@ADIPECOfficial) November 2, 2026

Shipping and logistics costs now account for 30% of the cost of a barrel of oil, up from 5% before the war, Al Jaber said. Brent crude, the international benchmark, is trading at around $110 a barrel, roughly 50% above its February level, before the conflict began.

Hormuz, through which roughly 20% of the world's oil passes, has remained largely closed under Iranian restrictions since Feb. 28, following the start of the US-Israeli war. The waterway briefly reopened after a US-Iran memorandum of understanding (MoU) took effect on June 18, but was closed again following renewed military escalation.

Last month, the International Energy Agency (IEA) agreed to release more than 20 million barrels of diesel, along with any oil remaining from a record emergency reserves release pledged in March, in an effort to increase supplies and curb soaring prices.

Read more: Iraq's Hormuz reliance exposed as regional wars drag on

Shafaq News- Baghdad/ Erbil

The US dollar opened higher in Iraq on Monday, trading around 168,000 dinars per $100.

According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 168,350 dinars per 100 dollars, up from Sunday's 168,250 dinars.

In the Iraqi capital, exchange shops sold the dollar at 168,750 dinars and bought it at 167,750 dinars, while in Erbil, selling prices stood at 168,250 dinars and buying prices at 168,150 dinars.

Shafaq News

Gold prices bounced on Monday, after a selloff in ‌the previous session, as weaker oil prices tempered inflation concerns, while investors assessed comments from the Federal Reserve for clues on the path of US interest rates.

Spot gold rose 0.7% to $3,900.90 per ounce ​by 0440 GMT after hitting a one-year low in the previous session. ​US gold futures for December delivery gained 0.3% to $3,909.70.

Bullion slumped 3.5% to ⁠its lowest since October 2025 on Friday, falling below its key $4,000 per ounce level amid ​a selloff in technology stocks that led to the forced sale of safe-haven assets such ​as gold, and margin calls.

"We're just getting a bounce after the selloff, along with oil prices coming off to start the week, which is providing a little bit of a relief for precious metals ​generally," said Kyle Rodda, senior financial market analyst at Capital.com.

Oil prices fell more than 3% ​after Reuters reported that Iranian negotiators were in Doha on Sunday for a third consecutive day of ‌talks with ⁠Qatari mediators aimed at pushing for a deal to end the US-Israeli war on Iran.

Elevated energy prices often raise the expectation that the Fed will keep interest rates higher for longer, increasing the opportunity cost of holding non-yielding bullion.

Meanwhile, a trio of Fed officials ​made the case on ​Friday for more ⁠interest rate increases to combat high levels of inflation, in the first round of commentary made by central bankers after last week's monetary ​policy meeting that saw short-term borrowing costs left steady.

Traders are pricing ​in about ⁠a 73% chance of a rate hike in December, according to the CME's FedWatch Tool.

"Gold faces a difficult near-term environment in which technical selling and liquidity concerns are overshadowing its ⁠longer-term ​investment appeal," said Ole Hansen, head of commodity strategy ​at Saxo Bank, in a note.

Spot silver climbed 1.8% to $49.97, platinum gained 0.1% to $1,432.63 and palladium steadied at $976.31.

(Reuters)

Only the headline is edited by Shafaq News.

Shafaq News

Oil prices slipped more than 3% on Monday after Iranian and Qatari officials ‌held a third straight day of talks aimed at pushing for a deal to end the US-Israeli war on Iran.

Brent crude futures fell $3.68, or 3.2%, to $109.75 a barrel by 0407 GMT while US West Texas Intermediate crude ​was at $100.69 a barrel, down $3.43, or 3.3%.

Brent ended October at its highest in six ​months amid concerns that the US-Iran conflict could escalate again after Tuesday's US midterm ⁠elections.

"Oil is seeing a technical pullback this morning after last week’s strong gains," said Tim ​Waterer, chief market analyst at KCM Trade.

"Lingering hopes of some form of diplomatic progress, combined with ​the absence of any meaningful military escalation over the weekend, have taken some of the immediate heat out of prices for now."

However, the market remained alert to the possibility that rhetoric around Iran could be ratcheted ​higher and push Brent toward $120 after the midterm elections, Waterer said.

Iranian Foreign Minister Abbas Araqchi said ​on Sunday that the purpose of the "ongoing and progressing" talks was to continue consultations with the Qatari mediators, ‌adding ⁠Tehran was prepared for "both defence and diplomacy".

The talks come amid attacks on oil tankers transiting the Strait of Hormuz that are driving up global energy and shipping costs. In October, Saudi Arabia increased crude exports versus September despite attacks by the Iran-aligned Yemeni Houthis on its energy infrastructure, two of ​three ship-tracking companies said.

"The ​price action in ⁠oil in recent weeks reflects a market increasingly bracing for the potential for more hostilities between the US and Iran," ING analysts said in ​a client note.

"If the midterms pass with neither strikes nor a deal, ​the key ⁠question is whether the market continues to price in a substantial geopolitical risk premium or whether that premium gradually begins to unwind."

The Organization of the Petroleum Exporting Countries and allies including Russia, or ⁠OPEC+, kept December ​production targets steady on Sunday, confirming expectations that more ​policy adjustments will not occur until next year, as the group continues to struggle with export disruptions from the Iran ​war.

(Reuters)

Only the headline is edited by Shafaq News.

Shafaq News- Kermanshah

Kermanshah province in western Iran exported $1,408,533,000 worth of goodsto Iraq during the first seven months of the year, with shipments totaling3,850,000 tons, provincial customs authorities said on Sunday.

Citing Kermanshah Customs Director-General Daryoush Sadeghi, Iran’s Farsnews agency reported that the Qasr-e Shirin Free Zone customs office —borderingIraq’s Diyala province— led the province’s crossings by export value, recording$417.4 million and 1.109 million tons. The crossing accounted for 30% of theprovince’s export value and 29% of its export volume.

Khosravi, opposite Iraq’s Al-Mundhiriya crossing, ranked second with $406.8million in exports weighing 1.062 million tons, representing 29% of the totalvalue and 28% of volume. Sumar, also facing Diyala province, ranked third with$369 million in exports and 911,300 tons, accounting for 26% of value and 24%of volume.

Sheikh Saleh, bordering the Kurdistan Region, recorded $106 million inexports weighing 266,000 tons, or 8% of Kermanshah’s total export value.Shoushmi, opposite Halabja province in the Kurdistan Region, handled $15.49million in exports weighing 246,000 tons, representing about 1% of theprovince’s export value.

Major exports included reinforcing steel and other iron products, tiles andceramics, fruits and vegetables, building stone, dairy products, plastics, anddisposable containers and tableware.

Shafaq News- Kirkuk

Iraq’s oil exports throughTurkiye’s Ceyhan port have risen by nearly 43%, from 350,000 to 500,000 barrelsper day (bpd), after Baghdad began routing crude from Basra’s southern oilfields through the Iraq-Turkiye pipeline, three sources at the state-run NorthOil Company told Shafaq News on Sunday.

The sources, who work inproduction, pipeline operations, and exports, said shipments had reached thislevel for the first time since exports resumed through the network. Toaccommodate the additional volumes, Iraq has begun transporting Basra crude bytanker truck to the Khurmala oil field in Iraqi Kurdistan, where it enters thenorthern pipeline system bound for Ceyhan.

Basra now accounts for 200,000bpd, or 40% of total shipments, followed by oil fields in Iraqi Kurdistan with175,000 bpd (35%) and Kirkuk fields operated by the North Oil Company with125,000 bpd (25%).

On August 1, Iraq and Turkiyesigned a one-year agreement to transport at least 750,000 bpd of Iraqi crude toCeyhan, while negotiations continued on broader cooperation in oil,electricity, and water resources.

During an October 3 visit toAnkara, Iraqi Oil Minister Basim Al-Abadi reported progress toward a widerexport agreement, including plans to expand capacity and attract Turkishinvestment in Iraq’s energy sector. The two countries also formed joint technicalcommittees to explore oil field investment opportunities and oil infrastructuredevelopment.

Read more: Iraq–Turkiye pipeline restart reshapes energybalance

Shafaq News

The global cryptocurrencymarket lost more than $300 billion in value during October 2026, as Bitcoin,Ether, and other major digital assets fell amid heavy selling and forcedliquidations.

Data released on Sunday showedthe market’s first monthly decline in four months, with losses estimated atbetween $300 billion and $340 billion. According to TokenPost, total marketcapitalization dropped 11.6%, from approximately $2.94 trillion at the start ofOctober to $2.60 trillion by month’s end, while AMBCrypto put the decline ataround $300 billion.

Bitcoin, the world’s largestcryptocurrency, shed about 7.3% during the month, while Ether fell roughly 16%.

Liquidation figures varied byexchange coverage and data availability. TokenPost recorded $6.22 billion infutures liquidations through incomplete public exchange data, while CryptoBriefing estimated October liquidations at $12.5 billion, including $9.21billion in long positions and $3.29 billion in short positions.

Selling pressure intensifiedtoward the end of October after a security breach at Binance, in which hackersallegedly stole about $6.3 billion in cryptocurrency. Reuters reported thatcryptocurrency prices fell after the breach, renewing concerns about thesecurity of centralized exchanges.

Shafaq News- Baghdad

Exports to Iraq from six of its largest trading partners fell by $9.6billion in the first half of 2026 compared with the same period last year,economist Manar Al-Obaidi revealed on Sunday, citing official customs datareleased by those economies.

In a report, Al-Obaidisaid exports from China, the UAE, Turkey, India, the European Union, and theUnited States totaled $23.7 billion in the first half of 2026, down from $33.4billion a year earlier —a 29% decline.

UAE shipments fell 25%from $14.1 billion to $10.6 billion, while Chinese exports dropped 42% from$8.9 billion to $5.2 billion. Turkey’s exports decreased 17% from $4.9 billionto $4.1 billion. EU exports fell 15% from $2.9 billion to $2.5 billion, India’sdropped 51% from $1.8 billion to $900 million, and US exports declined 37% from$761 million to $476 million.

The sharpest declineswere concentrated in capital and investment goods. Exports of machinery andmechanical equipment fell 42%, iron and steel products 50%, raw iron and steel48%, mineral fuels and oils 59%, vehicles 33%, and electrical and electronicequipment 33%.

Consumer and foodproducts proved more resilient or recorded growth. Fruit exports rose 49%,tobacco 24%, clothing 4%, and cereal preparations 1%, while pharmaceuticalexports declined by a relatively modest 7%.

According to Al-Obaidi,the UAE supplied 94% of Iraq’s gold and precious metals, 69% of vehicles, and63% of electrical equipment, much of it through re-exports. China remainedIraq’s largest supplier of machinery and mechanical equipment with a 38% share,while Turkey supplied 75% of fruit imports. The European Union accounted for56% of Iraq’s pharmaceutical imports, followed by the United States with a 14%share.

Iraq’s overall importshad risen sharply in 2025, reaching $72.3 billion in 2025, up 72.6% from $41.9billion in 2024, according to the General Authority for Statistics andGeographic Information Systems.

Read more: Iraq’s import trap: A system that produces demand, not supply

Shafaq News- Baghdad/ Erbil

The US dollar closed Sunday’s trading higher inBaghdad and Erbil, hovering around 168,500 dinars per 100 dollars.

According to a Shafaq News market survey, the dollartraded in Baghdad’s Al-Kifah and Al-Harithiya exchanges at 168,300 dinars per100 dollars, up from the morning session’s 168,250 dinars.

In the Iraqi capital, exchange shops sold the dollarat 168,750 dinars and bought it at 167,750 dinars, while in Erbil, sellingprices stood at 168,450 dinars and buying prices at 168,350 dinars.

Shafaq News- Ankara

Iraq ranked first among Arab countries for visitor arrivals to Turkiye in September 2026, with 133,438 Iraqi visitors, up 11.2% from 120,007 a year earlier, according to data from the Turkish Ministry of Culture and Tourism.

Saudi Arabia ranked second with 83,369 visitors, followed by Algeria with 41,486, Jordan with 34,444, Lebanon with 31,890, Egypt with 31,570, and Morocco with 23,235.

In August, Iraq also led Arab visitor arrivals to Turkiye, recording 143,322 visitors, up 2.05% from a year earlier.

Shafaq News- Baghdad

The Central Bank of Iraq (CBI) on Sunday denied reports that it had raised the dollar allowance for travelers from $2,000 to $3,500, describing a document circulating on social media as fake.

CBI Media Director Haider Ghazi told Shafaq News that the document, which purported to announce an increase in the allowance, was forged and that no such decision had been issued.

The document, attributed to the bank's Banking Supervision Department, claimed the higher allowance would take effect on Monday, November 2, 2026.

Under regulations introduced on October 18, eligible travelers can obtain up to $2,000 every two months, with a maximum of six allocations annually.

Shafaq News- Baghdad/ Erbil

On Sunday, gold prices edged higherin Baghdad and Erbil markets, hovering around 910,000 IQD per mithqal,according to a Shafaq News survey.

Gold prices on Baghdad’s Al-NahrStreet recorded a selling price of 913,000 IQD per mithqal (equivalent to fivegrams) for 21-carat gold, including Gulf, Turkish, and European varieties, witha buying price of 909,000 IQD, up from 910,000 IQD on Saturday.

The selling price for 21-carat Iraqigold stood at 883,000 IQD, while the buying price reached 879,000 IQD.

In jewelry stores, the selling priceper mithqal of 21-carat Gulf gold ranged between 915,000 and 925,000 IQD, whileIraqi gold sold for between 885,000 and 895,000 IQD.

In Erbil, 22-carat gold was sold at980,000 IQD per mithqal, 21-carat gold at 937,000 IQD, and 18-carat gold at803,000 IQD.

Shafaq News- Erbil

Apple Pay could soon launch in Iraq as the government holds talks withApple to introduce the digital payment service and expand the company'spresence in the country's digital market, Baligh Abu Kallal, head of theCommunications and Media Commission (CMC), said Sunday.

Speaking at a panel discussion during the Erbil International Book Fair,Abu Kallal said that the talks also cover privacy policies, following Apple’saccreditation as a trusted digital platform in Iraq. He added that thediscussions include the gaming sector, while the launch of Apple Pay remainssubject to completing the necessary technical, legal, and financial procedures.

In August, Abu Kallal said Apple had been approved as a verified digitalplatform in Iraq after meeting the requirements, bringing the App Store, AppleMusic, Apple Podcasts, Apple Arcade, and Apple Ads under the country'sregulatory framework.

Shafaq News- Baghdad/ Erbil

The US dollar opened higher in Iraq on Sunday, tradingaround 168,000 dinars per $100.

According to a Shafaq News market survey, the dollar tradedin Baghdad's Al-Kifah and Al-Harithiya exchanges at 168,250 dinars per 100dollars, up from Saturday's 167,900 dinars.

In the Iraqi capital, exchange shops sold the dollar at168,750 dinars and bought it at 167,750 dinars, while in Erbil, selling pricesstood at 168,100 dinars and buying prices at 168,000 dinars.

Shafaq News- Baghdad/ Washington

US crude oil imports from Iraq remained at zero for a fifthconsecutive week, data from the US Energy Information Administration (EIA)showed on Sunday.

Overall US crude imports from ten major suppliers averaged6.127 million barrels per day (bpd), up 827,000 bpd from 5.3 million bpd theprevious week.

Canada remained the largest supplier at 3.928 million bpd, followedby Venezuela at 618,000 bpd, Colombia at 376,000 bpd and Mexico at 305,000 bpd.Guyana ranked fifth with 281,000 bpd, followed by Saudi Arabia at 227,000 bpd,Brazil at 167,000 bpd, Argentina at 141,000 bpd and Nigeria at 84,000 bpd.

Shafaq News- Washington

The Federal Bureau of Investigation (FBI) has linked North Korea to the theft of a record $6.3 billion in virtual assets from cryptocurrency exchange Binance.

North Korean-linked actors were observed laundering the stolen assets, primarily by converting them into Ethereum, the FBI said in a statement on Saturday.

It attributed the operation to a group known as TraderTraitor, which was also responsible for stealing $1.5 billion from the Bybit platform in February last year.

According to the FBI, the stolen assets are expected to undergo further laundering in stages. The agency urged virtual asset service providers to block transactions linked to the latest laundering operation and provided suspected digital addresses to help identify and monitor the activity.

Meanwhile, Binance said it had replaced 90% of the stolen amount by using company funds to purchase new tokens. The remaining 10% consists of less liquid tokens, which may take longer to acquire.

Update: We have already covered $6B of the impacted amount of the hacked loss.

— Binance (@binance) November 1, 2026

"We will continue to purchase the remaining relevant token assets ... until the covered amount reaches 100% for all tokens. Binance will absorb the financial impact of these stolen funds, not our users," the company stated.

Shafaq News- Baghdad

Saudi Arabia has given preliminary approval to revive a long-idle oil exportpipeline with Iraq, but the project would require a replacement line, withBaghdad covering part of the cost, informed sources told Shafaq News onSaturday.

Iraq has repeatedly raised the proposal with Riyadh, which expressedwillingness to update the bilateral agreement once joint technical committeesare formed, according to the sources.

The pipeline has been out of service since 1990, but disruptions in theStrait of Hormuz have renewed interest in restoring the export route. SaudiArabia favors building a replacement because rehabilitating the existing linewould cost nearly as much as constructing a new one.

The sources explained that Riyadh has repurposed the section within itsterritory to transport Saudi crude from the country's east to the Red Sea. Anyagreement to revive the joint route would therefore require Iraq to rebuild itsown section and the two countries to reach a political understanding.

Another obstacle is Saudi Arabia's 2001 confiscation of the Iraqi pipelinesection within its territory. Both countries would need to resolve outstandingownership and legal rights before proceeding.

Stretching approximately 1,568 kilometers from the Zubair oilfield in Iraq'ssouthern Basra province to the Saudi Red Sea port of Yanbu, the pipeline wasbuilt in the 1980s and stopped operating following Iraq's invasion of Kuwait in1990.

On August 29, Iraqi Prime Minister Ali Al-Zaidi called for accelerating acrude oil export pipeline project, citing its strategic importance indiversifying export routes and expanding the country's export capacity.

Shafaq News- Baghdad

UAE exports and re-exports to Iraq fell by 25% in the first half of 2026, declining by approximately $3.5 billion from a year earlier, Iraqi economist Manar al-Obaidi said on Saturday, citing official Emirati statistics.

Al-Obaidi, head of the Iraq Future Foundation, said the combined value of non-oil exports and re-exports dropped to $10.6 billion from $14.1 billion in the same period of 2025.

Re-exports, which include goods shipped through UAE ports from other countries, fell 32%, compared with a 10% decline in UAE-produced exports.

According to al-Obaidi, electrical and electronic goods shipments dropped 27%, while vehicles and machinery each recorded declines of 32%.

He said the UAE, particularly Dubai's Jebel Ali Port, remains a major gateway for Iraq's supply chains, making the country vulnerable to disruptions in Gulf shipping routes that affect prices, product availability and delivery times.

Al-Obaidi suggested that part of the decline could reflect a shift toward alternative import routes through Turkiye and Jordan, alongside direct purchases from producing countries rather than through UAE re-export hubs.

He also cited higher Iraqi customs tariffs on certain goods, exceeding 30%, and Central Bank of Iraq restrictions on financial transfers involving indirect suppliers as factors contributing to weaker import demand and reduced trade through the UAE.