On Monday, 26 October 2026, many Iraqi families are thinking about how to protect their savings. Since 7 October, the official rate has been 1,500 dinars per dollar, after the government devalued the dinar. In Baghdad’s market, $100 cost 168,750 dinars on Saturday.
When a currency loses value, savings held in cash buy less. Gold is priced in dollars worldwide, so it can help protect value in dinar terms over time. This week, gold is around $4,000 an ounce, after falling 4.1% last week.
For Al-Fahad Al-Dhahabi customers, small regular gold purchases can be a disciplined way to save.
Example: A 10 g 24K bar has a gold value of about $1,286 today. At Baghdad’s market rate of 1,687.5 dinars per dollar, that is about 2.17 million dinars. Saving 5 g of 21K each month at today’s price would cost about 949,000 dinars a month (illustrative plan, before making charges).
Our advice: Choose plain bars or simple pieces with low making charges for saving, and keep jewellery for wearing separate from your savings.
The honest caution: Gold can fall in dollar terms, as it did last week. Keep an emergency cash reserve, and never borrow to buy gold.
Al-Fahad Al-Dhahabi — save smart, save in gold.
