US dollar edges lower against Iraqi dnar in morning trading

BAGHDAD, Iraq — The US dollar opened slightly lower against the Iraqi dnar in morning trading on local markets, according to exchange rates circulated by gold dealers and currency bureaus in Baghdad. The Central Bank of Iraq revised its official exchange rate from the previous day, but the rate used in practice at banks, gold shops and exchange offices differs from the published figure. Market participants said the gap between the official rate and the parallel market price reflects daily supply conditions and bank liquidity. The revised official selling rate published by the Central Bank serves as a reference for interbank transfers, while intraday fluctuations tend to track participation in the central bank's foreign currency auctions, according to officials. Gold dealers in Baghdad updated their displayed buying and selling rates for the dollar and the euro against the dnar at the start of trading. Jewellers noted that local gold prices move in line with the exchange rate and are sensitive to the same intraday swings. No further details on the central bank's auction figures were immediately available.