Iraq devalues currency by 15% as Hormuz crisis disrupts oil exports

Iraq has devalued its currency by around 15%, the biggest adjustment since 2020. The change is the Iraqi government’s response to disrupted oil exports through the Strait of Hormuz the country’s dependence on food imports means essential items like rice and flour are expected to become more expensive. Al Jazeera’s Peter Smith reports from Baghdad, Iraq. Subscribe to our channel: bit.ly
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