Iraq-US dollar exchange rate, The Iraqi dinar strengthened against the US dollar in both Baghdad and Erbil markets. This shift came as exchange rates declined in Sunday’s trading sessions.
In Baghdad, trading opened at the Al-Kifah and Al-Harithiya stock exchanges with the dollar priced at 144,400 dinars per 100 dollars. This marks a drop from Saturday’s rate of 145,000 dinars.
Currency exchange stores in Baghdad reflected similar trends. Sellers listed the US dollar at 145,500 dinars, while buyers were offering 143,500 dinars.
Erbil also followed the national pattern of a declining exchange rate. There, the dollar sold at 144,500 dinars and bought at 144,200.
This fluctuation in the Iraq-US dollar exchange rate indicates improved confidence in the Iraqi dinar. Traders and market watchers attribute the change to tighter monetary controls and stronger central bank oversight.
The Central Bank of Iraq has continued its campaign to regulate foreign exchange operations. Officials aim to minimize dollar smuggling and restrict unauthorized transactions.
Meanwhile, traders noted reduced pressure on dollar demand in local markets. As demand dropped, the dollar’s value followed.
Several economic analysts view this change as a positive signal. A stable or rising dinar helps curb inflation and supports import-dependent sectors.
Additionally, the strengthening of the dinar can lower the cost of essential goods for Iraqi households.
Currency exchange professionals say that further stability will depend on political conditions and oil revenues. These two factors heavily influence Iraq’s economic balance.
For now, the Iraq-US dollar exchange rate remains under close watch. Any change in demand, oil prices, or monetary policy may cause future fluctuations.
As Iraq attempts to stabilize its economy, the dinar’s performance against the dollar offers an important financial indicator.