Iraq’s US dollar exchange rate drops in Baghdad, rises in Erbil

Baghdad (IraqiNews.com) – The exchange rate for the US dollar compared to the Iraqi dinar declined on Monday in the Iraqi capital, Baghdad, and rose in the capital of the Kurdistan region of Iraq, Erbil.

The US dollar exchange rate slightly declined in Baghdad’s al-Kifah and al-Harithiya stock exchanges, reaching 1,532.5 Iraqi dinars compared to 1,533 Iraqi dinars on Monday morning.

The exchange rate in currency exchange shops in Baghdad remained stable, ranging between 1,537.5 Iraqi dinars and 1,527.5 Iraqi dinars, Shafaq News reported.

In Erbil, the US dollar exchange rate rose, fluctuating between 1,529.5 and 1,528.5 Iraqi dinars.

The Central Bank of Iraq (CBI) said in February 2023 that it has begun using the new US dollar exchange rate of 1,300 dinars to every US dollar.

The previous official exchange rate was 1,450 dinars to one US dollar, which was being exchanged in the parallel market at a rate of 1,550 dinars.

While the official exchange rate was 1,450 dinars per dollar in January 2023, the US currency was being exchanged at 1,610 dinars during the same month in the parallel market in Iraq. This variation represented more than a 10 percent difference in exchange rates.

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المصدر: Iraqi News