The Iraqi local markets witnessed a slight decline in the exchange rate of the US dollar against the Iraqi dinar, as the selling price of 100 dollars reached 152,000 Iraqi dinars, while the buying price recorded 150,000 Iraqi dinars. This decline comes in light of the efforts of the government and the Central Bank of Iraq to control the exchange market and enhance the value of the dinar.
This decline is attributed to a number of factors, most notably the increased injection of foreign currency into the markets, the imposition of strict controls on exchange operations, and the improvement of financial and economic policies. Citizens and traders are anticipating the continuation of this trend, as the stability of exchange rates reflects an improvement in the local economy and alleviates the burdens of living.
For his part, a source in the Central Bank confirmed that the steps taken aim to achieve long-term stability in the exchange market, noting that the bank continues to monitor the markets and take appropriate measures to maintain price balance.
All eyes will be on the coming days to see how long this decline will last and how it will impact the Iraqi economy as a whole. Are we on the cusp of a period of monetary stability?
