Dollar prices rise in Iraq, with noticeable increases in Baghdad and Erbil. This upward movement in exchange rates reflects growing pressure on the Iraqi dinar in local markets.
On Baghdad’s central Al-Kifah and Al-Harithiya stock exchanges, the US dollar opened higher than previous sessions. The exchange rate climbed to 142,700 dinars for every 100 dollars. This rate shows a jump from the earlier level of 142,450 dinars, highlighting daily shifts in currency value.
Exchange stores across Baghdad echoed this trend. Sellers offered dollars at 143,750 dinars per 100 dollars. Buyers, on the other hand, purchased the same amount for 141,750 dinars. These figures indicate strong market activity and fluctuating demand for foreign currency.
In Erbil, the situation followed a similar pattern. Sellers asked for 142,500 dinars per 100 dollars, and buyers obtained dollars at 142,400 dinars. The small gap between buying and selling prices signals a balanced but active market.
Several factors contribute to this shift. Traders suggest the demand for the US dollar is rising due to ongoing import activities and regional instability. Businesses need dollars to complete international transactions, pushing prices higher.
Moreover, fluctuations in global oil prices indirectly affect the Iraqi dinar. As Iraq relies heavily on oil exports, even slight changes in crude prices can influence the dollar exchange rate at home.
As dollar prices rise, financial institutions and currency traders are adjusting quickly. Many exchange centers are witnessing more customer traffic. Residents are also monitoring these rates closely, especially those dealing with foreign suppliers or preparing for overseas travel.
Currency watchers believe that the Central Bank of Iraq may respond with new strategies if the dollar continues gaining strength. Stabilizing the dinar remains a top financial goal for national policymakers.
In conclusion, dollar prices rise steadily in both Baghdad and Erbil, signaling active trading and increased public attention. These movements highlight the complex ties between local demand, global markets, and national policies.