Dollar prices in Iraq rose, as the US dollar strengthened against the Iraqi dinar in both Baghdad and Erbil markets. The rise in rates followed the opening of Baghdad’s central Al-Kifah and Al-Harithiya stock exchanges.
The US dollar settled at 141,300 dinars per 100 USD, up from 141,150 dinars. Currency exchange stores in Baghdad set the selling price at 142,250 IQD and the buying price at 140,250 IQD per 100 USD. In Erbil, the dollar sold for 140,950 dinars and bought for 140,850 dinars. Market participants said the gains reflect increasing demand for US dollars and ongoing transactions in commercial and retail sectors.
Financial analysts noted that regional and global factors continue to influence dollar prices in Baghdad and Erbil. Exchange rates react to shifts in international trade, foreign investment flows, and geopolitical developments. Traders closely monitor these trends to anticipate short-term movements and manage currency risk.
As Dollar prices in Iraq rose, this could impact import costs, as goods priced in US currency become more expensive for Iraqi businesses and consumers. Companies may adjust procurement strategies, and households might reconsider spending plans to manage higher costs. Experts also noted that inflation pressures could rise slightly if the trend persists.
Despite the increase, analysts emphasized that daily fluctuations are normal in Iraq’s foreign exchange markets. The combination of domestic demand, market speculation, and global dollar strength keeps Baghdad and Erbil currency rates highly responsive to short-term developments.
The current movement in dollar prices in Baghdad and Erbil highlights the importance of monitoring exchange rates for businesses, investors, and policymakers. Maintaining awareness of currency trends allows firms to manage risk effectively and make informed financial decisions.