Iraqi Dinar Plunges as US Dollar Surges to Record High
The US dollar has surged to new heights in Iraq's parallel market exchange rates. According to recent data, the retail selling price of the dollar in Baghdad reached 156,000 Iraqi dinars (IQD) per $100 USD on September 8, 2026. This is a peak rate seen in earlier sessions and marks a significant divergence from the Central Bank of Iraq's official benchmark rate of 131,000 IQD per $100 USD.
The parallel market premium remained high across all three major commercial trading centers: Baghdad, Erbil, and Basra. In Basra, the selling rate settled at 155,750 IQD per $100 USD, while Erbil consolidated at 155,500 IQD per $100 USD.
Market dynamics indicate that corporate and retail demand for cash foreign exchange continue to drive up prices in the parallel market. The uniform market margins of 500 IQD across all three cities suggest balanced trading conditions among currency traders.