USD/IQD rate closes at a new record in Baghdad, Erbil
Shafaq News/ The U.S. dollar (USD) exchange transactions against the Iraqi dinar (IQD) closed at a higher rate in the markets of Baghdad and Erbil today, Monday.
USD traded at a rate of 157,600 IQD to 100 in al-Kifah and al-Harithiya Central Exchanges. 3200 dinars more than the opening rate.
A new record since 2020.
The selling and buying rates of the USD in Baghdad's parallel markets settled at 158,000 and 157,000 IQD for 100 USD, respectively.
In Erbil, the USD selling and buying rates closed at 157,250 and 157,150 IQD to 100.
The financial expert, Nabil Jabbar Al-Tamimi, explained to the Shafaq News agency that if the Central Bank keeps auctioning less than 180 million dollars daily, the dollar will continue edging higher.
He suggested holding talks with the U.S. Federal Reserve and the U.S. Treasury to guarantee access to fund assets abroad through credit and non-cash transactions. In contrast, the Iraqi security authorities must take measures to stop smuggling currency by land.
In turn, the spokesperson for the Al-Sulaymaniyah stock market expected that the dollar exchange would stay unstable until the end of the week.
Goran Jabbar attributed the increase to internal and external factors, including the U.S. sanctions on some Iraqi banks for dealing with Iran.
The manipulation of exchange prices is illegal because the official price is much lower. He stressed.
Earlier today, about 65 members of the Iraqi Parliament signed a request to hold an extraordinary session to discuss the recent surge in the dollar rate.
CBI said yesterday that Iraq is still complying with international requirements on the issue of the dollar, combating money laundering, and terrorism financing, noting that work is underway to fix the dollar exchange rate as it was before within two weeks
