Dollar prices drop in Baghdad as Erbil stock exchange closes

Shafaq News/ On Saturday, the exchange rates оf the US dollar against the Iraqi dinar edged lower in Baghdad, coinciding with the closure of the Erbil stock exchange during the official holidays.

According to Shafaq News Agency's survey, the dollar's rates dropped around 2 PM, reaching 151,350 dinars for 100 dollars in Al-Kifah and Al-Harithiya stock exchanges, compared to 152,200 dinars in the morning.

The selling and buying rates at currency exchange stores in Baghdad were set at 152,500 IQD and 150,500 IQD per 100 USD, respectively.

Meanwhile, economic expert Mohamed al-Husseini attributed the decline to the Central Bank’s decision to lower the interest rate from 7.5% to 5.5%, following a decrease in the inflation rate, which led to a drop in the dollar exchange rate in local markets.