Iraq's Central Bank sets dinar reference rates against US dollar

BAGHDAD, Iraq — The Central Bank of Iraq published its latest reference exchange rates for the US dollar on Tuesday, setting the buying rate for $100 banknotes at 1,310 Iraqi dinars and the selling rate at 1,305 dinars. According to the bank's data, electronic and cash transfer rates were set at 1,309 and 1,308 dinars per $100, respectively. The bank releases the rates as reference values for commercial banks, exchange offices and money transfer operators, guiding day-to-day transactions across Iraq's foreign exchange market. The figures are used as the baseline for interbank and retail currency operations rather than as a single unified market rate. Officials have noted in recent data that the dollar has continued to firm against the dinar, with the currency's reference band gradually shifting upward since earlier this year. The Central Bank periodically adjusts the posted rates in line with its managed exchange rate policy, which has kept the dinar broadly stable against the greenback despite regional currency pressures. The bank's latest posting did not specify any immediate policy change, and no further details on future rate revisions were provided.