The Iraqi dinar has strengthened against the U.S. dollar in recent days. Experts say this rise comes after the formation of Iraq’s new government cabinet and changes to the Asycuda system, which handles trade and customs procedures.
According to Kefi Khushnaw, a currency market spokesman in Erbil, yesterday $100 exchanged for 150,000 dinars. Today, the same $100 exchanges for 149,750 dinars. Khushnaw explained that the Asycuda system has made it harder for traders to buy dollars. Many traders cannot register their names in the system and must pay higher fees to conduct transactions.
Economic analysts said that the formation of Iraq’s new cabinet and statements by the new prime ministers are already affecting the market. He emphasized that recent policies related to the Asycuda system are particularly influential in determining the dinar’s value.
Traders have expressed dissatisfaction with the Asycuda system. Dr. Mustafa predicts that if the new government does not implement reforms, the dinar’s value against the dollar will continue to rise.
Financial experts also note that the market reacts quickly to government decisions. Any announcements related to economic or trade policies, especially changes to the Asycuda system, have an immediate effect on currency rates. Traders and investors closely monitor these developments to anticipate shifts in the dinar’s value.
The rise of the Iraqi dinar against the dollar highlights the connection between government policies and currency stability. Analysts say that further improvements to the trade system and easing of Asycuda restrictions could strengthen the dinar even more.
