Dollar prices rise in Baghdad and Erbil markets

Shafaq News/ On Wednesday, the exchange rates оf the US dollar against the Iraqi dinar edged higher in Baghdad and Erbil.

According to Shafaq News Agency's survey, the dollar's rates increased with the closure оf the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad, settling at 152,000 dinars for every 100 dollars, while they recorded 151,500 dinars in the morning.

The selling and buying rates at currency exchange stores in Baghdad were set at 153,000 IQD and 151,000 IQD per 100 USD, respectively.

Erbil's selling price reached 151,700 dinars for every 100 dollars, and the buying price was 151,600.

Earlier, the Iraqi economist Abdul Rahman Al-Mashhadani told Shafaq News, “The promotion of rumors about suspending the platform is a key factor behind the rise in the dollar’s exchange rate.”

Al-Mashhadani clarified that this claim is baseless, noting that “97% of the transfers conducted through the central bank’s window are processed through correspondent banks to strengthen balances. Additionally, the demand for dollars has increased due to Christmas holidays, which typically see more travel during this period.”

For his part, Parliamentary Finance Committee Member, MP Jamal Kocher told Shafaq News that the committee is closely monitoring the dollar's exchange rate in the parallel market with the Central Bank.

He further revealed that “the Financial Committee might summon the Iraqi Central Bank governor for questioning if the exchange rate remains high.”

Notably, The Iraqi market recently witnessed a notable rise in the dollar’s exchange rate, exceeding 150,000 dinars per 100 dollars, despite government measures to regulate the parallel market.