The US dollar exchange rate rose slightly against the Iraqi dinar on Thursday in Baghdad and Erbil, according to dinaropinions.com.
In Baghdad, the dollar traded at 1,665.5 dinars at the Al-Kifah and Al-Harithiya exchanges, up from 1,665 dinars earlier in the day. Currency exchange shops in the capital quoted rates ranging from 1,660 to 1,670 dinars per dollar.
In Erbil, the dollar also increased, trading between 1,663 and 1,664 dinars.
The movements come after Iraq’s cabinet approved a change to the official exchange rate on October 7, which caused uncertainty in the parallel currency market. Under the adjustment, the official rate shifted from around 1,300 dinars to 1,500 dinars per dollar.
The decision represents a 14.5% depreciation of the dinar compared with the previous official rate, which had remained in place since early 2023.
Following the announcement, dollar rates in Baghdad and Erbil rose sharply, with some currency exchange shops reporting prices above 1,700 dinars per dollar.
