US Dollar Exchange Rate Rises to 1,531 Iraqi Dinars in Baghdad and Erbil
TheWkly Analysis
The exchange rate for the US dollar compared to the Iraqi dinar rose significantly on Thursday in Baghdad and Erbil. In Baghdad’s al-Kifah and al-Harithiya stock exchanges, the rate reached 1,531 Iraqi dinars from 1,523 earlier that morning. Currency exchange shops in Baghdad quoted rates between 1,535 and 1,525 Iraqi dinars. In Erbil, the rate fluctuated between 1,530 and 1,529 Iraqi dinars. The Central Bank of Iraq (CBI, Iraq's central monetary authority) set a new official rate of 1,300 Iraqi dinars per US dollar in February 2023. Previously, the official rate was 1,450 Iraqi dinars per US dollar, while the parallel market rate stood at 1,550 Iraqi dinars.
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Key Entities
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Central Bank of Iraq Organization
Iraq's central monetary authority that sets official exchange rates and manages currency policy.
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al-Kifah Stock Exchange Place
A major parallel market exchange in Baghdad where unofficial US dollar rates are traded daily.
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Kurdistan Region of Iraq Place
Semi-autonomous northern Iraqi territory with its capital in Erbil, featuring distinct economic dynamics.
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US Dollar Concept
The foreign currency strengthening against the Iraqi dinar in local markets, driving exchange rate rises.
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Iraqi Dinar Concept
Iraq's national currency experiencing depreciation as measured by dinars per US dollar.
Multi-Perspective Analysis
Left-Leaning View
Frames currency rise as fallout from US-imposed policies and oil dependency, urging debt relief and sanctions easing for vulnerable populations.
Centrist View
Reports factual rate changes and CBI actions neutrally, highlighting market dynamics without assigning blame.
Right-Leaning View
Views devaluation gaps as evidence of government mismanagement and corruption, calling for market liberalization and reduced central bank intervention.
Source & Verification
Source: Iraqi News RSS
Status: AI Processed
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