Dollar Falls in Baghdad and Erbil after Central Bank Pricing
Dollar prices fell on Saturday morning to about 163,600 dinars per 100 dollars on the Baghdad exchanges and to 163,500 dinars in Erbil, coinciding with the implementation of the new dollar selling price by the Central Bank of Iraq.
The US dollar exchange rate fell on Saturday morning in the markets of Baghdad and Erbil, coinciding with the implementation of the new dollar selling price by the Central Bank of Iraq.
Dollar prices on the Kifah and Harithiya exchanges in Baghdad fell to 163,600 Iraqi dinars per 100 dollars, compared with 166,800 dinars on Thursday morning last week.
The selling price at exchange shops in Baghdad reached 164,000 dinars per 100 dollars, while the buying price was 163,000 dinars.
In Erbil, the dollar saw a similar decline, with the selling price at 163,500 dinars per 100 dollars and the buying price at 163,400 dinars.
Last Tuesday, the Iraqi Cabinet decided to adjust the dollar exchange rate based on an emergency recommendation submitted by the finance minister and the central bank governor, setting the purchase price from the Ministry of Finance at (1500) dinars, the selling price to banks at (1510) dinars, and the selling price to the final beneficiary at (1520) dinars per one US dollar.
Under the new amendment, the central bank raised the public exchange rate by 20,000 dinars per 100 dollars, compared with the previous rate of 1,320 dinars per dollar (132,000 dinars per 100 dollars), while the parallel market had seen jumps before the decision to reach about 165,000 dinars per 100 dollars, affected by leaks and expectations.
