Iraqi Dinar Falls Against US Dollar in Baghdad, Basra, and Erbil
The US dollar exchange rates in Baghdad, Erbil, and Basra have shown regional divergence across wholesale bourses on September 2, 2026. The parallel market exchange rates for $100 USD against the Iraqi Dinar (IQD) saw selling prices rise to 154,750 IQD in both Baghdad and Basra.
Erbil recorded a lower trading band at 153,500 IQD per $100 USD, indicating localized variations in cash dollar demand and cross-border settlement liquidity. The parallel market hubs maintained a persistent premium over the Central Bank of Iraq's (CBI) official benchmark rate of 131,000 IQD per $100.
The premium is equivalent to a 23,750 IQD difference or approximately an 18.1% increase over the official central bank rate in Baghdad and Basra. In contrast, Erbil traded at a 1,250 IQD discount on the selling side compared to its counterparts.
Trading spreads also varied across cities, with Erbil and Basra maintaining tighter bid-ask margins of 500 dinars, while Baghdad exchange shops operated with a wider 1,000-dinar margin between buying and selling transactions.