Shafaq News- Baghdad/ Erbil

The US dollar closed lower in Iraq on Sunday, hovering around 150,000 dinars per $100.

According to Shafaq News market survey, the dollar traded at 152,000 dinars per $100 in Baghdad's Al-Kifah and Al-Harithiya exchanges, down from 152,600 dinars in the morning session.

In the Iraqi capital, exchange shops sold the dollar at 152,500 dinars and bought it at 151,500 dinars. In Erbil, selling prices stood at 152,300 dinars, while buying prices reached 152,250 dinars.

On Saturday, the Central Bank of Iraq (CBI) and the US Treasury Department reached an agreement allowing seven Iraqi banks to resume correspondent banking relationships in foreign currencies. Prime Minister Ali al-Zaidi hailed the measure as "an important step" in Iraq's banking reform program, indicating it would strengthen confidence in the banking sector, attract investment, and support economic growth.

Economist Mohammed al-Hassan also viewed the decision as a potential boost for Iraq's currency market. Speaking to Shafaq News, he noted that restoring foreign transactions could gradually ease pressure on the parallel market by shifting part of the demand for US dollars —particularly from traders and importers— to official banking channels, reinforcing confidence in the Iraqi dinar as commercial transfers increase.