The US dollar got stronger as Saturday’s trading kicked off in Iraq. It was sitting around 151,000 dinars for every 100 dollars.
According to a market survey, the dollar was trading at 150,500 dinars for 100 dollars at the major exchanges in Baghdad — Al-Kifah and Al-Harithiya. That’s a small bump up from the day before, when it was at 150,450 dinars.
Here’s what the prices actually looked like on the ground:
In Baghdad, money exchange shops were selling dollars at 151,000 dinars and buying them back at 150,000 dinars. In Erbil, the selling price was also 151,000 dinars, but they were buying at a slightly higher rate — 150,850 dinars.
So basically, if you wanted to sell dollars in Baghdad, you’d get 150,000 dinars. If you wanted to buy dollars, you’d pay 151,000 dinars. The difference is how the exchange shops make their money.
