Dollar rises against Iraqi dinar in Baghdad, holds steady in Erbil

BAGHDAD, Iraq — The U.S. dollar rose against the Iraqi dinar in Baghdad on Thursday, while the exchange rate remained unchanged in Erbil, the capital of the Iraqi Kurdistan Region. The Central Bank of Iraq quoted a official buying rate of 1,320 dinar per 100 dollars at the time of reporting. Local banks and exchange offices in Baghdad traded the dollar at 1,330 dinar on the buy side and 1,340 dinar on the sell side. In Erbil, the rate was steady at 1,310 dinar buying and 1,315 dinar selling, leaving the Kurdistan Region's market trading at a discount to the capital. Market sources attributed the increase in Baghdad to short-term fluctuations in supply and demand. They said stability in Erbil has been maintained because regional banks have aligned their operations with Central Bank policies. Officials noted that movement in the currency market is tracked through the Central Bank's daily announcements. Cross-border transfers and interbank pricing continue to influence the exchange rate, according to the same sources. No further details were immediately available on the duration of the Baghdad fluctuation or any planned central bank response.