On Wednesday, the USD rose slightly against the Iraqi dinar in Baghdad and Erbil. The increase comes amid ongoing market fluctuations and steady demand for the dollar across the country.
In Baghdad, central exchanges at Al-Kifah and Al-Harithiya reported a rate of 141,150 IQD per $100, up from 141,100 IQD on Tuesday. Local exchange shops maintained selling prices at 142,000 IQD per $100. Meanwhile, buying prices stayed at 140,000 IQD. The small change indicates cautious market activity, with traders closely monitoring foreign currency movements.
Erbil also saw a minor uptick in the exchange rate. Local offices quoted 140,750 IQD for selling and 140,600 IQD for buying per $100. The increase in Erbil mirrors the trend in Baghdad, reflecting overall market stability but highlighting slight upward pressure on the dinar.
Analysts attribute these changes to multiple factors, including regional economic developments and demand for US dollars from businesses and individuals. Traders continue to adjust prices based on market sentiment and liquidity levels. They expect minor fluctuations to persist in the coming days as supply and demand dynamics balance out.
The central bank continues to play a key role in stabilizing the currency. By monitoring transactions and supporting liquidity, authorities aim to prevent sharp swings in exchange rates. Experts note that while the dinar remains stable, small increases in the USD/IQD rate are normal in active foreign exchange markets.
Market observers also point to international trade and import activity as factors influencing the exchange rate. As Iraq relies on imports for many essential goods, businesses require US dollars to pay foreign suppliers. This consistent demand contributes to gradual upward adjustments in the dinar’s value against the dollar.
Consumers in Baghdad and Erbil are adjusting to the slight rise. Some exchange shops report that buyers are purchasing dollars to secure their savings, while others wait for further changes. Overall, the market remains orderly, with both cities showing similar patterns in buying and selling activity.
Traders and analysts will continue to monitor the USD/IQD rates closely. Even small shifts can influence economic activity, including pricing for imports, consumer goods, and local businesses. For now, the market appears calm, with minor daily variations typical for the current economic environment in Iraq.
