Dollar dips in Baghdad, rises in Erbil
Shafaq News- Baghdad/ Erbil
The US dollar closed Saturday's trading lower in Baghdad and higher in Erbil, hovering around 154,000 dinars per 100 dollars.
According to Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 153,800 dinars per 100 dollars, down from the morning session’s 153,900 dinars.
In the Iraqi capital, exchange shops sold the dollar at 154,250 dinars and bought it at 153,250 dinars, while in Erbil, selling prices stood at 153,600 dinars and buying prices at 153,500 dinars.
Speaking to Shafaq News, Jabbar Goran, spokesperson for the currency market in al-Sulaymaniyah, Iraqi Kurdistan, expected the formation of Iraq’s new government to help lower the dollar exchange rate against the dinar in local markets, citing anticipated “US support” that could positively affect the financial market.
Goran predicted the exchange rate could fall below 150,000 dinars per 100 dollars in the coming period if regional conditions stabilize. He added that the gap between the official exchange rate of 132,000 dinars and the market rate should normally remain within 12,000 to 13,000 dinars.
