Iraq witnessed a rise in the US dollar exchange rate in both Baghdad and Erbil. This shift in Iraq currency exchange reflects growing demand for dollars in the local market. Traders closely monitored the movement from the early morning.
In Baghdad, the central Al-Kifah and Al-Harithiya stock exchanges opened with higher values. The dollar quickly reached 139,950 Iraqi dinars per 100 US dollars. This increase compared to the previous day’s figure of 139,800 dinars.
Meanwhile, currency exchange shops across Baghdad followed the same upward trend. Sellers offered 100 US dollars at 141,000 Iraqi dinars. Buyers could purchase the same amount for 139,000 dinars. This created a small gap between buying and selling prices.
In Erbil, the market also showed a similar pattern. Sellers asked for 139,850 dinars per 100 dollars. Buyers paid 139,750 dinars for the same amount. The difference in exchange prices remained narrow, keeping the Iraq currency exchange stable in the region.
Market analysts noted that this trend happens often due to supply and demand. When the demand for dollars grows, prices increase. However, some traders expect stability soon, especially if the Central Bank makes adjustments.
Local businesses reacted to the shift in the dollar rate. Many importers paid more for goods priced in dollars. As a result, some raised their product prices slightly. Others waited to see if the exchange rate would go back down.
On the other hand, the public remains alert to changes in Iraq currency exchange. People often buy or sell dollars based on minor shifts. As prices move quickly, some take advantage of these short opportunities.
The central exchanges in Baghdad often set the tone for the rest of the country. When Baghdad sees a rise in the dollar rate, other cities usually follow. Erbil, with its strong trade links, reflects the capital’s market behavior.
Going forward, traders in both cities will monitor the exchange rate closely. They expect fluctuations to continue in the short term. However, many hope for balance soon in Iraq currency exchange.