The Iraqi dinar fell against the U.S. dollar. Market observers now expect further fluctuations in the dinar’s value.
Qayfi Khushnaw, a market analyst in Erbil, reported that today 100 U.S. dollars are traded at 152,800 dinars. This marks a 1,500-dinar drop compared to Wednesday.
Khushnaw added that the dinar may weaken further, with 100 dollars potentially trading at 153,500 dinars later today.
Khushnaw explained that the Central Bank limits dollar supply for traders not in the Asycoda system. This forces traders to rely on the open market. With fewer dollars available, the Iraqi dinar rises in value naturally.
An economic expert also noted that U.S. pressure on Iran and armed groups in Iraq contributes to the dinar’s movement. These geopolitical factors affect the dollar supply and the dinar exchange rate.
Traders expect continued volatility in the Iraqi dinar exchange rate. Analysts advise monitoring the market closely, as both internal banking policies and external geopolitical pressures influence the dinar’s strength.
