Shafaq News/ The U.S. dollar (USD) exchange rate against the Iraqi dinar (IQD) surged in the daily transactions in the markets of Baghdad and Erbil on Tuesday.

Shafaq News Agency correspondent said that the Central al-Kifah and al-Harithiya exchanges are trading the USD at 149550 IQD to 100.

Our correspondent said that the selling and buying rates of 100 USD in the parallel markets of the Iraqi capital rested at 150000 and 149000 IQD, respectively.

In the capital of the Kurdistan Region, Erbil, the selling and buying exchange deals of the USD against IQD settled at a rate of 149600 and 149500 to 100, respectively.

In 2020, the Central Bank of Iraq reduced the exchange rate of one dollar from 1190 to 1450 dinars to address the financial crisis that Baghdad was enduring due to the sharp drop in oil prices and the repercussions of COVID-19.