Iraqi Citizens Scrutinize Dollar Rates Amid Shifting Exchange

Fluctuations in Baghdad and Erbil Markets Draw Public Attention

Baghdad and Erbil residents are keenly observing the US dollar’s fluctuating exchange rate today, July 15th, as market prices have seen recent declines, impacting purchasing power across the nation.

Dollar Exchange Rates Detailed for Key Cities

Transactions in the Iraqi capital, Baghdad, show the dollar’s exchange rate experiencing a downturn in both buying and selling prices. Similarly, Erbil has recorded a decrease in its market rates for the US currency.

Baghdad’s Financial Pulse

In Baghdad’s stock exchange and local markets today, the selling price for 100 US dollars has settled at 140,900 Iraqi dinars. This represents a decrease from yesterday’s figure of 141,000 Iraqi dinars per $100 on the stock exchange.

Locally, purchasing $100 in Baghdad today costs 140,000 Iraqi dinars. Meanwhile, the selling price for $100 in Baghdad’s local markets has been set at 142,000 Iraqi dinars.

Erbil’s Market Movements

Erbil’s markets have also witnessed a drop in dollar prices. The purchase rate for $100 in Erbil today stands at 14,650 Iraqi dinars. The selling price for $100 in Erbil’s market today is listed at 14,405,550 Iraqi dinars.

It is important to note that the official exchange rate for the US dollar remains fixed, generally fluctuating between 1,300 and 1,320 Iraqi dinars in the official market.

This ongoing volatility reflects broader economic trends. For instance, the Iraqi economy relies heavily on oil exports, and global oil price fluctuations can significantly influence the dinar’s value relative to the dollar. In June 2024, Iraq’s total oil revenue reached approximately $8.5 billion, underscoring the link between oil markets and the national currency’s stability (OilPrice.com).