US Sanctions Spark Surge in US Dollar Exchange Rates against Iraqi Dinar

Shafaq News/ On Thursday, the US dollar exchange rates against the Iraqi dinar witnessed a significant rise in both the markets of Baghdad and Erbil.

This surge followed the imposition of sanctions by Washington on 14 Iraqi banks.

According to a report from Shafaq News Agency, Baghdad's central stock exchanges, Al-Kifah and Al-Harithiya, recorded an exchange rate of 149,000 Iraqi dinars per 100 US dollars this morning. This marks a substantial increase from the previous day's rate, which stood at 148,200 dinars for 100 dollars.

In local exchange shops within Baghdad, the selling price of the US dollar soared to 150,000 dinars, while the purchase price reached 148,000 dinars for every 100 dollars.

In Erbil, the capital of the Kurdistan Region, the stock market also experienced an upward trend. The selling price of the US dollar reached 149,300 dinars, with the purchase price at 149,250 dinars for every 100 dollars.

The sanctions imposed on the Iraqi banks have seemingly impacted the foreign exchange rates in the country, leading to fluctuations and increased demand for the US dollar. The situation remains under close observation, as the local currency's stability remains a matter of concern amid economic uncertainties.