Dollar prices increased in Baghdad and Erbil on Monday, reflecting higher demand and market activity. Traders reported a noticeable rise in the US Dollar against the Iraqi dinar in both cities.
Shafaq News Agency surveyed the markets and found that the dollar gained value with the opening of the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad. The rate settled at 141,000 dinars for every 100 dollars, up from 140,950 dinars on Sunday.
Currency exchange stores in Baghdad set the selling rate at 142,000 dinars per 100 dollars. The buying rate reached 140,000 dinars. Analysts explained that importers, traders, and businesses preparing for economic activities increased demand for dollars.
In Erbil, the dollar also strengthened. Exchange stores reported a selling price of 140,650 dinars per 100 dollars. The buying price stood at 140,500 dinars. Experts noted that Erbil’s rates usually follow Baghdad’s trends but show slight local variations.
Traders emphasized that such fluctuations are common in Iraq. Political developments, global currency trends, and oil revenue forecasts often affect the dinar-dollar rate. Higher cross-border trade and imports can push demand for dollars even further.
Bank officials in Baghdad and Erbil urged customers to follow official exchange rates. They said licensed currency exchange stores ensure fair transactions. The Central Bank of Iraq continues to monitor the market, although daily changes remain normal.
Residents and businesses are adjusting their financial plans accordingly. Importers often change pricing and purchasing strategies based on the daily exchange rate. Analysts predict that Baghdad and Erbil will see continued short-term fluctuations due to political and economic factors.
Despite the rise, the Iraqi dinar remains stable compared to regional currencies. Experts recommend careful trading and consulting market updates before major purchases.
Overall, the increase in dollar prices in Baghdad and Erbil reflects local demand, regional trends, and active market participation. Residents, businesses, and traders are closely monitoring rates to make informed decisions.
