The US dollar conversion scale against the Iraqi dinar somewhat expanded in Baghdad and the capital of the Kurdistan district of Iraq, Erbil, on Monday with the conclusion of the two fundamental stock trades in the country.
After the Al-Kifah and Al-Harithiya stock exchanges in Baghdad were closed, the US dollar rose to 1,477.5 Iraqi dinars, up from 1,470 Iraqi dinars on Monday morning.
The conversion standard in cash trade shops in Baghdad went between 1,487.5 dinars and 1,467.5 dinars, Shafaq News announced.
The exchange rate between Iraqi dinars and US dollars was between 1,478 and 1,477 in Erbil.
In February 2023, the Central Bank of Iraq (CBI) made the announcement that it had begun using the new US dollar exchange rate, which is 1,300 dinars for one US dollar.
The parallel market was exchanging one US dollar for 1,550 dinars at the previous official exchange rate of 1,450 dinars.
The official exchange rate remained at 1,450 dinars per dollar in January 2023, but the US dollar’s exchange rate against the local currency reached 1,610 dinars in January 2023. The difference between the two rates was more than 10%.
