US dollar rises in Baghdad and Erbil

Shafaq News- Baghdad/ Erbil

The US dollar closed Thursday’s trading higher in Baghdad and Erbil, hovering around 169,200 dinars per 100 dollars.

According to a Shafaq News market survey, the dollar traded in Baghdad’s Al-Kifah and Al-Harithiya exchanges at 169,250 dinars per 100 dollars, up from the morning session’s 169,150 dinars.

In the Iraqi capital, exchange shops sold the dollar at 169,750 dinars and bought it at 168,750 dinars, while in Erbil, selling prices stood at 169,200 dinars and buying prices at 169,100 dinars.

Economic expert Manar Al-Obaidi, head of the Iraq Future Foundation for Economic Studies and Consultations, attributed rising demand for dollars on Iraq’s parallel market to restrictions on international transfers, difficulties financing trade with Iran, customs policies, limited banking access for small traders, dollar hoarding, and speculation over changes to the official exchange rate.