Baghdad (IraqiNews.com) – The exchange rate for the US dollar compared to the Iraqi dinar rose significantly on Tuesday in the Iraqi capital, Baghdad, and the capital of Iraqi Kurdistan, Erbil.
The US dollar exchange rate significantly rose in Baghdad’s al-Kifah and al-Harithiya stock exchanges, reaching 1,553 Iraqi dinars compared to 1,550 Iraqi dinars on Tuesday morning.
The exchange rate in currency exchange shops in Baghdad ranged between 1,557.50 Iraqi dinars and 1,547.50 Iraqi dinars, Shafaq News reported.
In Erbil, the US dollar exchange rate also increased, fluctuating between 1,549 and 1,548 Iraqi dinars.
The Central Bank of Iraq (CBI) said in February 2023 that it has begun using the new US dollar exchange rate of 1,300 Iraqi dinars to every US dollar.
The previous official exchange rate was 1,450 Iraqi dinars to one US dollar, which was being exchanged in the parallel market at a rate of 1,550 Iraqi dinars.
While the official exchange rate was 1,450 Iraqi dinars per dollar in January 2023, the US currency was being exchanged at 1,610 Iraqi dinars during the same month in the parallel market in Iraq. This variation represented more than a 10 percent difference in exchange rates.
