Dollar prices climbed in Baghdad and Erbil markets as the US dollar strengthened against the Iraqi dinar. Traders in both cities reported steady increases, reflecting heightened demand for the foreign currency.
In Baghdad, the central Al-Kifah and Al-Harithiya exchanges opened with the dollar trading at 141,600 dinars per 100 dollars, up from 141,700 dinars previously. Currency exchange stores set the selling rate at 142,500 dinars per 100 dollars, while the buying rate reached 140,500 dinars. These changes show a growing preference among businesses and individuals to hold US dollars amid economic uncertainty.
Meanwhile, Erbil markets followed a similar trend. The dollar’s selling price rose to 141,400 dinars per 100 dollars, while the buying price was 141,300 dinars. Local traders said demand for dollars remains strong, driven by trade needs, imports, and market confidence.
Analysts note that fluctuations in the Iraqi dinar often reflect broader economic conditions. Political developments, global currency movements, and local liquidity influence exchange rates in Baghdad and Erbil. Investors and businesses actively monitor these changes to manage risk and plan transactions effectively.
Currency traders also emphasized that the dollar’s rise is part of a regional trend. Markets in neighboring countries report similar movements, impacting cross-border trade and financial strategies. The dollar’s strength provides stability for importers, while increasing costs for local consumers relying on foreign goods.
Observers expect continued fluctuations as Iraq navigates economic challenges. Exchange rates may adjust further depending on government policies, monetary supply, and market demand. Traders advise businesses and citizens to track rates daily to optimize purchases and financial planning.
The rise in dollar prices underscores Iraqis’ reliance on the US currency for trade, savings, and investment. Both Baghdad and Erbil markets demonstrate that demand for foreign currency remains robust, shaping the financial landscape across the country.