Iraq's dinar weakens against US dollar in morning trading

BAGHDAD, Iraq — The US dollar opened higher against the Iraqi dinar in early market trading on Monday, with both buying and selling rates rising from the previous close. According to central bank records, the country's banking system and exchange offices began the day at the new rate. Officials said the foreign exchange movement was reflected instantly in interbank transfers and branch-level transactions. Market sources said the daily rate update can be tracked on banks' official websites. Following the weekend holiday, demand in the foreign exchange market was described as following its normal course. On the supply side, the Central Bank of Iraq activated its auction and direct-sale windows to meet market needs. The central bank has continued to use its intervention tools to limit volatility in exchange rates. No further details were immediately available on the scale of the move or the central bank's next steps.