Dollar rates in Iraq drop in both Baghdad and Erbil markets as traders adjusted to new financial conditions. The key factor driving the decline was the activity at Baghdad’s Al-Kifah and Al-Harithiya stock exchanges, where rates opened lower compared to previous trading sessions. Analysts noted that market fluctuations and increased supply influenced the drop in dollar rates.
In Baghdad, currency exchange stores recorded a selling rate of 142,500 dinars per 100 dollars and a buying rate of 140,500. Meanwhile, in Erbil, the selling price reached 140,900 dinars per 100 dollars, and the buying rate stood at 140,800. These figures reflect the local market’s reaction to broader economic trends and ongoing adjustments in foreign currency demand.
Experts explained that the dollar rates decline in Iraq has implications for both businesses and citizens, as importers and exporters closely monitor exchange movements. The Iraqi dinar strengthened slightly against the US dollar, allowing some relief for consumers purchasing imported goods. Banks and exchange stores emphasized the importance of following exchange guidelines to maintain stability in local currency transactions.
The dollar rates drop in Iraq coincided with regional financial shifts and international currency trends. Observers noted that fluctuations are normal in response to economic policies and market dynamics. Traders in both Baghdad and Erbil continue to monitor the dollar rates closely, preparing for potential shifts in supply or changes in investor sentiment.
Overall, the dollar rates drop in Iraq shows that the local financial markets remain responsive and dynamic, reflecting the interaction between local demand, foreign exchange inflows, and investor confidence. Authorities and market participants continue to track developments to support a stable trading environment.