The US dollar weakened slightly against the Iraqi dinar in both Baghdad and Erbil this week. Baghdad’s central exchanges, including Al-Kifah and Al-Harithiya, recorded a rate of 141,375 dinars per $100. This exchange marks a slight drop from rate of 141,500 dinars per $100.
Additionally, the exchange shops in Baghdad also reported lower rates. The US dollar was sold at 142,250 dinars and bought at 140,250 dinars per $100. This small decrease indicates a gradual easing of dollar demand in the capital. Analysts suggest that local market adjustments and slight shifts in global currency trends influenced the decline.
In Erbil, the US dollar followed a similar trend. Furthermore, currency traders reported the dollar selling at 141,150 dinars and buying at 140,900 dinars per $100. The reduction in rates in Erbil reflects a synchronized movement with Baghdad, showing consistency across major Iraqi cities.
Moreover, the market experts note that the Iraqi dinar has maintained relative stability in recent weeks, despite fluctuations in international markets. The slight dip in USD/IQD rates comes as the central bank implements measures to control liquidity and stabilize the local currency. Traders say that ongoing government monitoring and regulatory oversight are helping prevent sharp swings in exchange rates.
Overall, the USD/IQD exchange rates continue to show modest movements. Both Baghdad and Erbil markets recorded small declines, signaling cautious optimism among investors. Short-term traders may find opportunities as the dinar strengthens slightly against the dollar.
In conclusion, the US dollar weakened in Baghdad and Erbil this week. The rates in Baghdad dropped to 141,375 dinars per $100, while Erbil saw rates around 141,150 dinars per $100. Exchange shops also reflected these changes, confirming the gradual easing trend. Market watchers expect the USD/IQD rates to remain relatively stable in the coming days, influenced by local and international financial factors.