Dollar holds steady in Baghdad, edges higher in Erbil

BAGHDAD, Iraq — The U.S. dollar exchange rate against the Iraqi dinar remained stable in Baghdad on Tuesday, while the northern city of Erbil saw a slight increase, according to figures from the Central Bank of Iraq and local market sources. The bank's official buying and selling rates set the baseline for the Baghdad market, with banks and exchange shops operating at different prices in the free market. In Erbil, located in the Kurdistan Region, the dollar gained modestly against the dinar during the day and closed slightly higher in the evening, local sources said. The movement was linked to differences in foreign-currency liquidity and banking activity between the regional market and the capital. In Baghdad, exchange bureaus reported a steady trend from the morning hours, with prices unchanged from the previous day. Iraq's exchange rate is set within the Central Bank's fixed-rate policy framework, and small fluctuations in the free market are viewed as normal market movement. Officials said banks and currency exchange offices would continue to be monitored to maintain order in the foreign-exchange market.