Iraq dinar weakens against dollar in Baghdad, holds steady in Erbil

BAGHDAD, Iraq — The U.S. dollar rose against the Iraqi dinar in Baghdad markets on Friday, while the exchange rate remained unchanged in Erbil, according to Central Bank of Iraq data issued the previous day. In the capital, both buying and selling prices for the dollar increased compared with the prior session, with rates at city-center banks and exchange offices aligning with current supply and demand. In Erbil, the capital of the Kurdistan Region, banks and local exchange bureaus quoted the same rates as the previous day, leaving the cross-city gap between Baghdad and Erbil unchanged. Market sources said the differential matters most to small and medium-sized companies engaged in trade between the two cities. The Iraqi government has said it has taken a series of regulatory steps through the Central Bank aimed at curbing currency volatility and stabilizing state revenues. Officials noted that importers remain required to channel international transfers directly through the Central Bank, a measure designed to prevent the emergence of a black market for foreign currency.