Forex
Dollar Soars Against Iraqi Dinar in Baghdad and Erbil
The US dollar exchange rate against the Iraqi dinar increased in both Baghdad and Erbil on Monday. In Baghdad, the exchange rate rose to 1,541.5 Iraqi dinars per dollar at al-Kifah and al-Harithiya stock exchanges.
The rates in currency exchange shops in Baghdad fluctuated between 1,545 and 1,535 Iraqi dinars per dollar.
In Erbil, the US dollar exchange rate also increased, trading between 1,541.5 and 1,541 Iraqi dinars per dollar.
The Central Bank of Iraq had announced a new official exchange rate in February 2023, setting it at 1,300 dinars to every US dollar. This followed previous variations in the exchange rate, with 1,450 dinars to one dollar officially being used in January and a parallel market rate of 1,610 dinars.