Dollar exchange rates in Iraq showed a mixed trend on Monday, moving differently in Baghdad and Erbil. In the capital, the value of the US dollar increased slightly. Meanwhile, in the northern city of Erbil, it recorded a minor decline.
In Baghdad, the central stock exchanges at Al-Kifah and Al-Harithiya opened with a rate of 141,300 dinars per $100. This rate marked a slight rise compared to the 141,200 recorded on Sunday.
Local exchange stores in Baghdad offered even higher rates for buyers. The selling price stood at 142,250 dinars per $100. The buying rate from customers settled at 140,250 dinars. These rates reflect a tighter trading range in Baghdad’s parallel market.
However, dollar exchange rates moved in the opposite direction in Erbil. Currency traders in the Kurdish capital reported a drop in value. The selling rate fell to 141,050 dinars per $100. Buyers received a slightly lower return, with the buying price recorded at 140,900 dinars.
This daily difference in dollar exchange rates highlights the fragmented nature of Iraq’s currency markets. While Baghdad follows one trading trend, Erbil often shows a different pattern. Traders say local demand, regional liquidity, and banking activity influence short-term shifts.
Iraqi citizens continue to follow the dollar exchange rates closely due to their impact on import costs and daily expenses. Even a small fluctuation in rates can influence prices of goods, especially those brought in from abroad.
Some financial experts believe government controls and central bank policies also play key roles. These policies aim to stabilize the dinar and ensure smoother trade. Still, unofficial exchange markets sometimes reflect supply-demand changes faster than official rates.
In recent months, Iraq’s central bank has worked to unify exchange rates across cities. Authorities have also pushed for more US dollar transactions to go through the banking system. Yet, differences remain, especially during religious holidays or when some markets temporarily close.
The recent Ashura holiday closure in many Iraqi provinces also contributed to variations. While Baghdad’s markets stayed open, others like Erbil reopened with adjusted figures.
As trading continues this week, all eyes will stay on dollar exchange rates in both Baghdad and Erbil.