Dollar exchange rates continued to fall across Iraq, with both Baghdad and Erbil markets reporting noticeable decreases. The value of the US dollar against the Iraqi dinar dropped early Thursday, reflecting broader changes in local currency activity.
Currency traders in Baghdad noticed the drop immediately after the Al-Kifah and Al-Harithiya stock exchanges opened. The dollar settled at 141,100 dinars for every 100 dollars, falling from the previous day’s rate of 141,350.
Exchange stores in the capital adjusted prices accordingly. They sold US dollars at 142,000 dinars per 100 and bought them at 140,000. Dollar exchange rates highlight the narrowing gap between buying and selling prices, a trend that suggests lower demand in the short term.
Erbil’s currency market showed a similar pattern. The dollar sold for 140,750 dinars per 100 and bought for 140,650. Although the decline was small, it marked a continuing trend of slight reductions in the dollar’s value.
Traders in both cities attributed the shift to several factors. First, the central bank has increased dollar supply to stabilize the market. Second, confidence in the dinar has grown due to recent policy changes. Lastly, seasonal fluctuations often influence cash demand during this period.
Market analysts also pointed out that small daily changes reflect ongoing attempts by financial institutions to manage inflation. Iraq’s Central Bank regularly intervenes to reduce pressure on the currency and avoid speculative trading.
Meanwhile, financial observers are watching closely to see whether this decline will continue. They noted that any future drop in oil prices or disruption in foreign reserves could reverse the current trend.
Despite the modest drop, residents and businesses continue to monitor exchange rates daily. The dinar’s performance plays a critical role in setting prices for imported goods, travel, and commercial contracts.
While the dinar gained slightly against the dollar this week, market conditions remain unpredictable. Traders expect more adjustments in the coming days, depending on global and regional developments.