Forex
US Dollar Skyrockets to 156,000 IQD in Baghdad and Erbil
The US dollar's value against the Iraqi Dinar (IQD) surged on Monday morning in Baghdad and Erbil, reaching 156,000 IQD per $100 USD. This marks a significant increase from Sunday's trading ceiling of 154,900 IQD per $100. Wholesale trading at Al-Kifah and Al-Harithiya bourses in Baghdad drove the rise, opening at 155,600 IQD per $100 USD.
The widening divergence between the parallel market rate and the Central Bank of Iraq's (CBI) official exchange rate has led to a premium of 25,000 IQD per $100 (~19.08%) in Baghdad retail selling rates. Meanwhile, Erbil saw a sharper uptick with selling rates reaching 155,500 IQD, a 1,000-dinar increase from Sunday.