Shafaq News/ The U.S. dollar (USD) exchange rate against the Iraqi dinar (IQD) dropped in the daily transactions at the official markets of Baghdad, and remained the same in Erbil on Wednesday.

Shafaq News Agency correspondent said that the Central al-Kifah and al-Harithiya exchanges are trading the USD at a rate of 147950 IQD to 100.

Our correspondent said that the selling and buying rates of 100 USD in the local markets of the Iraqi capital rested at 148500 and 147500 IQD, respectively.

In the capital of the Kurdistan Region, Erbil, USD selling and buying exchange rates against IQD settled at 148000 and 147900 to 100, respectively.

Mohammed al-Moussawi, the owner of an exchange company, told Shafaq News agency that this drop is due to the huge supply and the lack of demand in the Iraqi market.

The bank's sales climbed recently, exceeding $280 million, which increased the supply amid remarkable decline in the activity of wholesale markets in Shorja and Jamila Industrial Area.