Dollar Falls Against Dinar as Iraq's New Exchange Rate Takes Hold

The US dollar has slightly declined against the Iraqi dinar in Baghdad and Erbil. In Baghdad's al-Kifah and al-Harithiya stock exchanges, the exchange rate dropped to 1,499.5 Iraqi dinars per US dollar from 1,500.5 dinars on Monday morning.

In currency exchange shops in Baghdad, the rate ranged between 1,505 and 1,495 Iraqi dinars.

The Central Bank of Iraq had announced a new official exchange rate of 1,300 dinars to every US dollar in February 2023, down from the previous rate of 1,450 dinars per dollar.