Iraqi Dollar Exchange Rate Soars in Local Markets

The Iraqi dollar exchange rate has increased in local currency markets on Tuesday. According to market data published by local outlets, the U.S. dollar gained 1,000 Iraqi dinars compared with the previous trading session.

Despite the increase in parallel market rates, the official exchange rate set by the Central Bank of Iraq remains at 131,000 Iraqi dinars per $100.

Exchange rates recorded in major Iraqi cities were as follows: Baghdad (152,750 IQD per $100 for selling and 152,250 IQD per $100 for buying), Erbil (152,000 IQD per $100 for selling and 151,500 IQD per $100 for buying), and Basra (152,250 IQD per $100 for selling and 152,000 IQD per $100 for buying).

The ongoing gap between official pricing and street market demand continues to affect the parallel market, with currency exchange rates in Iraq being closely monitored by businesses, importers, and consumers.