Kurdistan Region's economy resists Iran-Israel escalation
Shafaq News- Al-Sulaymaniyah
Markets in Iraq’s Al-Sulaymaniyah remained calm despite rising tensions between Iran and Israel, a financial expert told Shafaq News on Saturday.
According to Shawan Muhammad, the US dollar traded at 156,500 dinars per 100 dollars in Al-Sulaymaniyah and other Kurdish provinces, marking a modest increase despite regional uncertainty.
Muhammad explained that Iraq’s currency market is driven mainly by domestic policies and financial stability, meaning external events usually have only short-lived effects. “These changes in exchange rates are part of normal market fluctuations during regional crises,” he added, urging citizens to avoid making quick buying or selling decisions based on rumors.
He also predicted that no major disruptions are expected in the coming days, with prices likely to return to their usual levels as markets adjust.
The development followed coordinated US and Israeli strikes targeting sites inside Iran, which Washington described as action against “imminent threats from the Iranian regime.” Tehran, according to the Iranian Revolutionary Guards (IRGC), responded with missile and drone strikes on Israel and US military bases in Kuwait, Bahrain, Qatar, and the United Arab Emirates, while media outlets also reported attacks on bases in Saudi Arabia and Iraqi Kurdistan.
Read more: Zero-sum game: Can the Iran-Israel conflict push Iraq toward frontline?
