Dollar Soars Past 160,000 Dinar Threshold in Baghdad
The US dollar has strengthened against the Iraqi dinar in recent days, reaching 159,350 dinars per $100 in Erbil and surpassing 160,000 dinars per $100 in Baghdad. This widening gap between Iraq's official exchange rate and the price available in cash markets reflects regional tensions and uncertainty surrounding armed groups.
Economic experts attribute the recent increase to factors that influence demand for dollars when traders become more cautious about the dinar. The unofficial market is also sensitive to information circulating through WhatsApp and Telegram groups used by traders, which can rapidly spread expectations about the direction of the market.
The latest rise comes against an already volatile backdrop surrounding Iraq's access to US currency. Earlier reports cited a warning from the Trump administration that monthly dollar transfers could be suspended unless Iran-aligned armed factions surrendered their weapons by September 30.