The dollar prices surge in Baghdad and Erbil, showing a noticeable increase in the exchange market. Traders in both cities report rising rates compared to previous sessions. The movement affects daily transactions and sparks concerns among local businesses.
In Baghdad, the increase began early in the main Al-Kifah and Al-Harithiya stock exchanges. The opening rate stood at 140,200 dinars for every 100 dollars. This marks an uptick from the previous rate of 139,850 dinars for the same amount. The change signals higher demand for the US currency in the capital.
Furthermore, exchange shops in Baghdad mirrored this upward trend. The selling price reached 141,250 dinars per 100 dollars, while the buying price stood at 139,250 dinars. These adjustments show how retail currency traders adapt quickly to market movements.
Meanwhile, in Erbil, the capital of the Kurdistan Region, dollar prices also moved higher. The selling price reached 140,150 dinars for every 100 dollars, while the buying price was 140,050 dinars. The difference between buying and selling prices remains narrow, showing strong market activity.
Moreover, this rise in dollar prices surge in Baghdad and Erbil could affect import costs. Businesses that rely on imported goods will likely face increased expenses. As a result, consumers may experience higher prices for everyday items.
Additionally, financial analysts point to global and local economic pressures. Factors such as oil price changes and foreign currency flows play a key role. Traders also monitor government policy for any measures to stabilize the market.
The public reacts cautiously to these changes. Many residents keep a close eye on the rates before exchanging currency. Some choose to delay transactions, hoping for a drop in prices. Others buy dollars early to avoid further increases.
Looking ahead, the dollar prices surge in Baghdad and Erbil may continue if demand stays high. Economic experts stress the need for balanced monetary policies. This would help protect the local currency and maintain market stability.