The value of the Iraqi dinar has dropped significantly in today’s trading. As a result, 100 U.S. dollars has crossed the 156,000-dinar level in the Kurdistan Region’s currency markets. The decline reflects ongoing pressure in the foreign exchange market and rising demand for U.S. dollars.
Haji Sabir Bawaji, head of the Erbil Exchange Market Council, confirmed that 100 dollars is now traded at around 156,250 dinars in Erbil. He explained that the market continues to show strong volatility during daily trading sessions.
Meanwhile, in Sulaymaniyah, the exchange rate is slightly higher. There, 100 dollars is being traded at around 156,300 dinars. This shows a small difference between the two main markets in the Kurdistan Region, although both follow the same overall trend.
In comparison, the market was stronger for the dinar just one day earlier. Yesterday, 100 dollars was exchanged for about 153,800 dinars across the Kurdistan Region. This means the dinar lost value quickly within a very short period, which raised concerns among traders and currency dealers.
According to Haji Sabir, several factors are driving the decline. First, he said the supply of U.S. dollars is limited in the local market. At the same time, demand for dollars remains very high from importers, businesses, and individuals. This imbalance continues to put pressure on the dinar.
Second, he pointed to Iraq’s “Asiacell system” policy, which he said has affected liquidity and currency flow in the market. He explained that new financial regulations and procedures have influenced how dollars move through the banking system.
As a result, traders expect continued fluctuations in the coming days. Many market participants are closely watching central bank actions and supply levels. Overall, the currency market remains unstable, with the dinar under noticeable pressure against the U.S. dollar.
