The dollar surged in Baghdad and Erbil following the implementation of the new exchange rate.
The dollar surged in Baghdad and Erbil following the implementation of the new exchange rate.
2026-10-07
Shafaq News – Baghdad/Erbil
The exchange rate of the US dollar recorded a significant increase in the markets of Baghdad and Erbil on Wednesday morning, coinciding with the start of the implementation of the decision to amend the official exchange rate, amid a state of fluctuation and instability in the parallel market.
A correspondent for Shafaq News Agency said that the dollar rose in the Al-Kifah and Al-Harithiya exchanges in Baghdad to 168,500 Iraqi dinars per 100 dollars, compared to 159,800 dinars.
The selling price in Baghdad’s currency exchange shops reached 169,000 dinars for 100 dollars, while the buying price reached 168,000 dinars.
Our correspondent noted that fluctuating exchange rates have forced a number of money exchange shops in the capital, Baghdad, to stop selling dollars.
In Erbil, the price of the dollar also rose, with the selling price recording 168,200 dinars per 100 dollars, and the buying price 168,100 dinars.
In Kirkuk, a number of owners of exchange companies and offices in the foreign currency buying and selling market temporarily suspended their transactions, after the sudden rise in the price of the dollar, amid anticipation regarding market trends in the coming hours.
Amjad Jassim, a currency market worker, told Shafaq News Agency that “the rise in the dollar’s price in this manner has prompted many money exchange offices to temporarily halt buying and selling operations, due to the lack of clarity regarding the price that can be adopted in the market.”
He added that “the market is experiencing a state of confusion, as the trader cannot determine the price at which he will sell or buy the dollar, especially with the rapid changes in exchange rates,” indicating that the return of transactions to normal is linked to price stability and knowing the direction of the market during the coming period.
For his part, currency trader Raad Waad Hamza told Shafaq News Agency that “transactions in the Kirkuk market have been directly affected by the rise of the dollar, and there is a state of caution among traders and owners of exchange offices, due to the fear of incurring losses as a result of the rapid change in prices.”
He noted that “buying and selling activity has become limited until the new price becomes clear and the market stabilizes,” pointing out that traders are monitoring official and parallel prices before resuming their activity normally.
For his part, economic affairs expert Hazem Khairallah told Shafaq News Agency that “the rapid rise in the price of the dollar has directly impacted the local market, leading to a state of anticipation among traders and citizens.”
He explained that “the fluctuation in the exchange rate makes the pricing process difficult for traders, especially for goods that depend on imports,” calling for monitoring the market and taking measures that limit speculation and maintain the stability of transactions.
This increase comes as the decision to amend the official exchange rate comes into effect today, while the parallel market is experiencing fluctuating activity, with prices rising and falling rapidly and remaining unstable.
shafaq.com
