IQD ekes out a record low against USD


Shafaq News/ Iraq dinar (IQD) edged up against the US dollar (USD) after hitting a record low in the markets of Baghdad and Erbil on Saturday.

Shafaq News Agency correspondent said that al-Kifah and al-Harithiya Central Exchanges traded the US dollar (USD) at a rate of 163,000 Iraqi dinars (IQD) to 100. This is 7,000 IQD above the opening rate this morning.

Traders in the parallel market of the Iraqi capital city, Baghdad, are selling the USD at a rate of 164,000 IQD to 100. The buying price is set at 162,000 IQD to 100 USD.

In Erbil, the capital city of the Kurdistan region of Iraq, the selling and buying rates also rose to 166,000 and 161,000 IQD to 100 USD.

Yesterday, the governor of Iraq's central bank, Ali al-Allaq, met the assistant secretary of the US treasury, Brian Nelson, and his accompanying delegation in Turkey.

They agreed to find a mechanism to stabilize the high value of the dollar against the dinar.

In a statement, the Central Bank of Iraq said that "The US Treasury confirmed its support for achieving economic stability in Iraq, in reference to strengthening what was discussed between Prime Minister Muhammad S. al-Sudani and US President Joe Biden in the phone call that took place yesterday".

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