US dollar exchange rate remains stable in Baghdad, drops in Erbil

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US dollar exchange rate remains stable in Baghdad, drops in Erbil

Due to the closure of the country’s two primary stock exchanges on Thursday, the US dollar to Iraqi dinar exchange rate remained stable in Baghdad and fell in Erbil, the Kurdistan region’s capital.

The Al-Kifah and Al-Harithiya stock exchanges in Baghdad were closed, but the US dollar exchange rate remained constant throughout the day at 1,470 Iraqi dinars.

The swapping scale in money trade shops in Baghdad ran between 1,480 dinars and 1,460 dinars, Shafaq News detailed.

The US dollar exchange rate fluctuated between 1,456 dinars and 1,465 dinars 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 1450 dinars at a rate of 1550 dinars at the previous official exchange rate.

In January 2023, the conversion scale of the US dollar against the neighborhood money arrived at 1610 dinars, while the authority conversion scale stayed 1450 dinars for every dollar, with a hole between the two trade paces of in excess of 10%.