Iraq’s US dollar exchange rate drops
This information became available on July 25th, 2024. On Thursday, the US dollar exchange rate against the Iraqi dinar declined due to the closure of the two main stock exchanges in Baghdad and Erbil.
Due to the closure of Baghdad's Al-Kifah and Al-Harithiya stock exchanges on Thursday, the US dollar exchange rate dropped from 1,495.5 Iraqi dinars to 1,493 Iraqi dinars.
According to Shafaq News, currency exchange shops in Baghdad offered exchange rates between 1,502.5 and 1,482.5 dinars.
US dollar exchange rates declined in Erbil, ranging between 1,493 and 1,492 Iraqi dinars.
In February 2023, the Central Bank of Iraq (CBI) announced that the new exchange rate for the US dollar was 1,300 dinars for one US dollar.
At the previous official exchange rate of 1,450 dinars to one US dollar, the parallel market exchange rate was 1,550 dinars.
In January 2023, the US dollar exchange rate against the local currency reached 1,610 dinars, while the official exchange rate remained 1,450 dinars per dollar, a gap of over 10 percent between the two rates.
