BAGHDAD — Foreign exchange activity across Iraq came to a standstill on Tuesday as most currency offices in Baghdad, Erbil, and other provinces shut down for the parliamentary election holiday, marking one of the quietest trading days in months.
Major money exchange and remittance firms remained closed from early morning in compliance with the nationwide holiday, leaving only sporadic small-scale transactions taking place in residential areas. According to local traders, these limited deals mainly involved minor cash exchanges between individuals rather than organized trading.
Market sources described the session as “effectively frozen,” noting the absence of official pricing or movement in the dollar rate due to the halt in trading.
During the final active session on Monday evening, the U.S. dollar held steady in Baghdad at 142,750 dinars for selling and 140,750 dinars for buying per $100. In Erbil, minor upward pressure pushed the rate to 141,350 dinars for selling and 141,250 dinars for buying.
The Iraqi government had declared Tuesday a national public holiday to facilitate voter turnout in the country’s sixth parliamentary elections since 2005.
Normal trading activity is expected to resume once financial institutions reopen following the conclusion of the election period.
