Dollar continues climb against Iraqi dinar on local markets

BAGHDAD, Iraq — The U.S. dollar continued its rise against the Iraqi dinar in the country's domestic exchange markets, according to market data. Buying and selling rates for 100 dollars moved higher in transactions at banks and foreign currency exchange offices, widening the gap with the official rate set by the Central Bank of Iraq. Officials said exchange rate movements on the free market are shaped by supply and demand, and that prices can change according to market conditions. Some exchange offices and bank branches applied different buying and selling prices during the day depending on liquidity and currency flows. Participants in the market said demand for dollars, driven by imports and cash requirements, continues to put pressure on the exchange rate. Buy and sell prices quoted at currency exchanges and bank counters for 100 dollars are updated daily. Market data indicated the volatility is being monitored into the next trading session.