Al-Fahad Al-Dhahabi presents its savings brief for Monday, 12 October 2026.
The key news: Iraq’s oil exports have averaged about 1.25 million barrels a day since March, compared with about 3.3 million before the war. Foreign reserves fell from about $100 billion to about $80 billion by August, and the economy is forecast to shrink by almost 7% this year. The dinar was devalued last week, and the Baghdad market rate is near 1,633 per dollar.
What it means for savers: In uncertain times, many families prefer to save in small steps rather than one big purchase. Buying a small amount of gold regularly spreads your cost over different prices.
Example: At today’s global price, 21K gold is about $118.10 a gram. A quarter-mithqal (1.25 g) is about $147.60, or about 241,000 dinars at the Baghdad market rate of 1,633, before making charges. Buying one quarter-mithqal each month for a year builds 3 mithqals (15 g).
Our advice: Save only from money you do not need for daily life. Choose simple pieces or small coins with low making charges. Keep receipts in one safe place.
The honest caution: Gold prices go down as well as up. Never borrow money to buy gold.
Al-Fahad Al-Dhahabi — save in gold, step by step.
