A source clarifies: There will be no change to the exchange rate, and the Central Bank continues to defend it.

A source clarifies – There will be no change to the exchange rate and the Central Bank continues to defend itSome media outlets reported on a study suggesting a government plan to adjust the exchange rate in the future. However, it turned out that this plan, which was published in studies, did not originate from the central bank and dates back more than ten years.

In this context, a source from the Central Bank confirmed on Tuesday (November 11, 2025) that foreign reserves remain at comfortable levels sufficient to cover imports and enhance the stability of the financial market.

The source explained that “the Central Bank continues to defend the current rate, and that the monetary and financial indicators in the country are stable and support this trend.”

This denial comes after unofficial reports circulated on digital platforms claiming that there was a government intention to adjust the exchange rate in the future.

Burathanews.com

The Central Bank denies rumors of a dinar devaluation.

The Central Bank denied on Tuesday (November 11, 2025) rumors of the dinar’s decline, stressing that they were untrue and were not issued by any official body.

The bank’s media office stated in a statement that “the Central Bank of Iraq denied the news circulating about the expected decrease in the value of the dinar to 4,000 dinars against the dollar, stressing that this information is incorrect and was not issued by any official body within the bank.”

The bank called on the media and citizens to rely only on official sources and to avoid being drawn into rumors aimed at creating financial panic in the market.

Burathanews.com

The commission: Voter turnout exceeded 55 percent.

The Electoral Commission announced on Tuesday evening that voter turnout in the elections held that day reached 54%, noting that more than 12 million voters participated.

According to a document issued by the commission, “The total number of voters for the two days of general and special voting reached approximately 12,003,143 voters out of 21,404,291 voters.”

She added, “The voter turnout exceeds 55%.”

Iraq witnessed on Tuesday (November 11, 2025) the holding of parliamentary elections, the sixth to be held throughout the country since the events of 2003.

Burathanews.com

Oil Price: India races against time to replace Russian crude with Iraqi oil

A report by OilPrice.com on Monday confirmed that India is racing against time to replace Russian crude oil with Iraqi, American, and Emirati oil due to sanctions imposed by the United States, Britain, and other Western countries on Russian crude. The report, translated by the Information Agency, stated that “two Indian refineries purchased a total of 5 million barrels of crude oil from the United States, Iraq, and the UAE on the spot market, seeking alternatives to Russian crude.”

It added that “Hindustan Petroleum purchased 2 million barrels of West Texas Intermediate crude and 2 million barrels of Murban crude for delivery in December, while another refiner, Mangalore Refinery and Petrochemicals, purchased 1 million barrels of Basra Medium crude, also for delivery in January.”

He added that “the search for alternative oil supplies comes in the wake of the Trump administration’s decision last month to impose sanctions on Rosneft and Lukoil, which together account for half of Russia’s oil exports and a significant portion of India’s imports from the country. The sanctions have sparked a rush to secure supplies before they take effect on November 21, as oil buyers seek loopholes to maintain access to Russian crude at discounted prices.”

Meanwhile, Bloomberg reported an unusual move by two tankers, both subject to EU and UK sanctions, after they conducted a ship-to-ship transfer off the Indian coast last week. Bloomberg stated that one of the tankers, the Elana, had been anchored for two weeks prior to the transfer. Following the transfer, the receiving tanker, the Forties, continued its journey to the Indian port of Kochi, while the Elana sailed to Russia.

Almaalomah.me

The Electoral Commission announces its full readiness for tomorrow’s general election day.

The Independent High Electoral Commission confirmed on Monday its full readiness for the general election day for the Iraqi House of Representatives elections on Tuesday.

The head of the commission’s media team, Imad Jamil, told Shafaq News Agency that “all preparations for the general election day, scheduled for tomorrow, Tuesday, have been fully completed, and the commission has finalized all the necessary technical and logistical procedures to ensure the smooth and transparent conduct of the electoral process, including the distribution of electoral materials and the preparation of polling centers and stations.”

Jamil added that “the Commission is working around the clock and is fully prepared on all levels to ensure that voters can cast their votes easily and conveniently, in a safe and fully prepared environment. We call on voters to participate widely in the elections and contribute to the success of this important national event.”

He stressed that “the Commission is fully committed to implementing the instructions and procedures that guarantee the integrity and transparency of the vote, and is continuing to coordinate and cooperate with the relevant authorities to ensure that tomorrow will be a successful democratic milestone that reflects the will of the citizens.”

For her part, the spokesperson for the Electoral Commission, Jumana Al-Ghalai, explained that the voting process will begin tomorrow, Tuesday, at seven o’clock in the morning.

Al-Ghalai added that the number of general voting voters is 20,063,773 voters, distributed across 8,703 polling centers and 39,285 polling stations in various governorates.

On Sunday morning, polling stations in all regions and cities of Iraq began opening their doors to receive voters in the special voting for the sixth parliamentary elections in Iraq, while the general voting for all citizens will begin on Tuesday.

On Sunday evening, the Deputy Commander of Joint Operations, Lieutenant General Qais al-Muhammadawi, announced that participation in the special voting exceeded 80%, an unprecedented percentage.

Later, in Baghdad, the Kurdistan Region and the rest of the Iraqi governorates, the manual counting and sorting of ballot papers began after the closure of the special voting centers amidst heavy security measures.

Shafaq.com

Iraq and nine other Arab countries possess approximately 1,500 tons of gold reserves.

The World Gold Council announced on Monday that Iraq and nine other Arab countries possess approximately 1,500 tons of gold reserves in the world.

The council said in its latest table for November, which was reviewed by Shafaq News Agency, that “ten Arab countries, including Iraq, possess 1,498 tons of gold.”

He added that “the top five Arab countries, namely Saudi Arabia, Lebanon, Algeria, Iraq and Libya, possess 1,101 tons, while the remaining countries, namely Egypt, Qatar, Kuwait and Jordan, possess 397 tons.”

The council noted that “Iraq raised its gold reserves to 171.9 tons last August, after it was 162.7 tons in July, thus maintaining its 29th place globally out of 100 countries listed in the table with the largest gold reserves.”

It is worth noting that the World Gold Council, which is based in the United Kingdom, has extensive experience and in-depth knowledge of the factors affecting market changes, and its members include the world’s largest and most advanced gold mining companies.

Shafaq.com

Two solar clouds are heading towards Earth, and warnings of geomagnetic storms have been issued.

The Solar Astronomy Laboratory of the Space Research Institute of the Russian Academy of Sciences reported that two clouds of solar plasma will cover the Earth this week, and moderate magnetic storms are expected.

The laboratory explained that “the model it developed to predict the impact of solar activity on Earth, which extends until the middle of the week, is based on accurate calculations of the movement of the solar wind and coronal mass ejections, and based on this data, two clouds of plasma are expected to reach the vicinity of our planet in the coming days.”

The statement noted that “the first cloud resulted from a relatively small solar flare of magnitude M1.7 that occurred on November 7 and, despite its weakness, is expected to cause a G2-class geomagnetic storm during the first half of November 10, a moderate storm that may affect navigation systems and power grids in some areas.”

The second cloud is the result of a major mass ejection that followed a larger solar flare. Calculations indicate that “the most intense parts of this ejection veered significantly northward the moment they separated from the surface of the Sun, and will not reach the Earth directly, but will pass over it. However, there are still possibilities of a geomagnetic impact, which may reach category G2 or at most G3 (a relatively strong storm), although final assessments have not yet been issued.”

Scientists expect that “the effects of this delayed emission will reach Earth late on Tuesday, November 11.”

Shafaq.com

Ministry of Oil: Completion of drilling the deepest horizontal well in the Buzurgan oil field

The Ministry of Oil announced on Monday the completion of drilling the deepest horizontal well in the Buzurgan oil field. The Director General of Maysan Oil Company, Hussein Kazem Laibi, stated in a statement that “this new technical achievement was represented by the completion of drilling operations for the deepest horizontal well in the Buzurgan oil field BUCN-226H at the beginning of November 2025.”

He also explained that “this achievement comes within the company’s strategy to develop oil fields using the latest global technologies and reflects the senior management’s commitment to supporting the efforts of national engineering teams and the international operator in enhancing production and improving the efficiency of extraction from oil reservoirs.”

He also pointed out that “the total depth of the well reached (5626) meters, with a horizontal section of length of (1350) meters, and a total horizontal displacement of (1809.9) meters, thus recording three new records in the Buzurgan field, which are (the deepest well, the longest horizontal section, and the largest total horizontal displacement).”

He noted that “the drilling operations were successfully completed in one round without interruption using advanced rotary steering equipment (RSS) and log-and-measurement (LWD) techniques, while maintaining drilling mud density within the ideal range to ensure well control and immediate reservoir assessment.”

Al-Laibi also confirmed, according to the statement, that “this achievement enhances the position of Missan Oil Company as a leading company in implementing highly efficient engineering operations and embodies the success of its development policy aimed at increasing the yield of national fields and achieving the highest levels of technical performance.”

Burathanews.com

Development Road Project: 75 percent of final designs completed

The director of the Development Road project at the Italian consulting firm (BTB), Wido Bonini, confirmed on Monday that the project connects Basra Governorate to the Turkish border via a railway and an international highway. He indicated that the project will provide 150,000 job opportunities and support the Iraqi economy. He pointed out that the project plan extends until 2050 and includes the establishment of economic and industrial cities within the Iraqi governorates. Bonini told the official agency, “The company has participated in the Development Road project since the beginning of the project study in 2023, when we started with our partners in the Iraqi Railways Authority to study the project.”

He added that “BTB studied the project and realized its importance to Iraq, not only internationally, as it connects the world, but also internally between the governorates.” He explained that “the company paid attention to the stations that will be built within the governorates, from Basra to Nasiriyah, Diwaniyah, Najaf, and Karbala, reaching Baghdad, Samarra, Tikrit, Baiji, and even Mosul.” He continued, “The company also paid great attention to the interior designs, not only for the transportation process from the port of Faw to outside Iraq. The attention did not only include international aspects but also Iraqi governorates.” He pointed out that “the project is not only a railway, but it will also be a highway connecting Umm Qasr to the northern region with the Turkish border for transporting goods.”

He also explained that “the company was concerned with the efficiency of the train in terms of transporting passengers and not just goods, as a study was prepared according to the highest international standards, so that the speed of the trains designated for transporting passengers would not be less than 300 kilometers per hour,” noting that “direct trains will cover the distance between Basra and Baghdad in about an hour and a half without stopping, while there will be other trains that stop in a number of governorates.”

He also explained that “the company submitted a complete study and designs to the Ministry of Transport, especially to the Railways Department for consultants for the group of projects. In addition, we have other contacts with partners who were appointed through the Ministry of Transport, including Oliver Wyman, with whom we are working, which will contribute to providing the best project that is thoroughly studied, so that it can be implemented without any problems.”

He also noted that “several countries have expressed interest in the project, most notably Turkey, as it is the country that has a direct connection to the development route, in addition to Gulf countries including Qatar, the UAE and the Sultanate of Oman, who have expressed their desire to be an active part of the project. We also expect the Kingdom of Saudi Arabia to join later after the studies are completed.”

He also pointed out that “the project is in its first phase a freight transport, railway and (highway) project and a railway link with Turkey, but the state’s future plan includes establishing development projects, factories and plants along the road in all governorates, in accordance with the nature of each governorate. For example, in Basra Governorate there will be oil factories and petrochemical plants.”

He added, “There will be factories in the holy governorates of Karbala and Najaf, most of them specializing in agriculture, such as a canning company or others, and this study will be part of the project’s establishment process,” explaining that “the project will provide between 100,000 and 150,000 job opportunities and contribute to revitalizing the national economy.”

He continued, saying that “the project in its second phase will focus on building factories, plants and economic cities,” explaining that “these economic projects will come in sequence according to the plan that will extend for about 25 years, starting from 2025 until 2050.”

He confirmed that “the company has so far completed between 70 and 75 percent of the final designs, studies and practical application on site, while it is expected to complete the remaining 25 percent during the next three months to deliver it to the Ministry of Transport by the end of this year.”

Bonini concluded by saying: “The ministry intends to launch a global platform for submitting bids and studies to international companies for the implementation work after receiving all the final designs, surveys, detailed geological work, and designs for the project, which extended over two years.”

Burathanews.com

Rubio praises Nechirvan Barzani’s efforts to resume oil exports from the region and strengthen the partnership with America.

US Secretary of State Marco Rubio on Sunday praised the efforts of Kurdistan Region President Nechirvan Barzani in reopening Kurdistan’s oil export pipelines through Turkey, also appreciating his role in strengthening the partnership between the region and the United States.

A statement from the Kurdistan Region Presidency, received by Shafaq News Agency, stated that Barzani received a letter from the US Secretary of State praising Nechirvan Barzani’s role in reopening the Kurdistan Region’s oil export pipeline through Turkey, and appreciating his efforts and endeavors in this regard.

In another part of the letter, he also expressed his continued appreciation for President Barzani’s efforts in facilitating dialogue between Turkey and the Kurdistan Workers’ Party (PKK ), noting his important role in supporting stability and peace in Syria.

Rubio emphasized that the partnership between the United States and the Kurdistan Region is based on solid foundations of stability and progress, and wrote to President Barzani, saying: “Your leadership and constructive partnership, and your sense of responsibility and wisdom, are pillars for promoting peace and cooperation.”

In closing his message, Minister Rubio conveyed his greetings and appreciation to President Nechirvan Barzani, praising his continued efforts to strengthen the partnership and mutual understanding between the two sides.

He stressed that expanding economic cooperation between the United States and the Kurdistan Region is in the interest of both sides and strengthens their strategic partnership.

Shafaq.com