The dollar prices in Baghdad and Erbil climbed on Wednesday, reflecting new shifts in Iraq’s currency market. Both cities recorded noticeable increases in the USD/IQD exchange rate at market open.
To begin with, the U.S. dollar exchange rate rose at Baghdad’s main currency trading centers, Al-Kifah and Al-Harithiya. The dollar settled at 142,700 Iraqi dinars per 100 dollars during morning trading, up from Tuesday’s rate of 142,450.
Meanwhile, in local Baghdad exchange shops, the selling rate reached 143,750 dinars per 100 dollars, while the buying rate dropped slightly to 141,750 dinars, creating a wider spread between sellers and buyers.
At the same time, the dollar prices in Baghdad and Erbil also rose in the Kurdistan Region’s capital. In Erbil, currency dealers reported a selling rate of 142,500 dinars per 100 dollars. The buying rate stood at 142,400 dinars, showing a narrower spread than in Baghdad.
These adjustments reflect growing demand for the U.S. dollar in both regions. According to analysts, the increase is linked to market uncertainty, upcoming public spending cycles, and broader economic conditions influenced by global exchange trends.
Furthermore, traders expect short-term fluctuations to continue as the Central Bank of Iraq monitors liquidity and trading volumes. Some exchange operators noted higher activity ahead of anticipated import payments and regional financial settlements.
Over recent months, the dollar prices in Baghdad and Erbil have remained volatile, reacting to policy updates, remittance levels, and seasonal demand surges. This latest uptick signals renewed public interest in securing stable foreign currency.
In addition, observers pointed to regional developments and possible speculative buying as factors influencing today’s rate shifts.
Looking ahead, market participants will closely monitor any potential interventions or new measures from Iraq’s financial authorities aimed at curbing inflation and stabilizing the dinar.