USD/IQD exchange rates inch lower in Baghdad, Erbil markets

USD/IQD exchange rates inch lower in Baghdad, Erbil markets

Shafaq News / The exchange rates of the US dollar against the Iraqi dinar decreased, on Monday, in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, compared to yesterday's rates.

Our correspondent reported that the dollar prices decreased with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording 151,000 IQD for every $100, while yesterday's prices were 151,700 IQD per $100.

The selling prices in currency exchange shops in the local markets in Baghdad decreased, with the selling price reaching 152,000 IQD, while the buying price was 150,000 IQD for every $100.

In Erbil, the dollar also saw a decrease in exchange shops, with the selling price reaching 150,900 IQD per $100 and the buying price at 150,800 IQD.

Globally, the dollar was on the front foot ahead of a packed week filled with key economic releases that will provide further clues on the global interest rate outlook, with a US inflation reading taking center stage, according to Reuters.

Market participants' focus is shifting to the Fed's preferred inflation indicator, personal consumption expenditure (PCE) data, due on Thursday.

Last week, Fed Governor Christopher Waller said he was in "no rush" to cut rates, firming investor bets against US interest rate cuts before June.

Another Fed official sees the US central bank on track to cut interest rates "later this year" despite stronger-than-expected inflation and labor market data in January, as cited by Reuters.

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