The U.S. dollar continued to strengthen in Erbil on Monday, reflecting ongoing regional and global economic developments. According to market sources, the selling price of the dollar in local exchange offices reached 155,100 Iraqi dinars, while the buying price stood slightly lower at 155,050 dinars. Therefore, this modest difference indicates stable trading activity despite the broader upward trend in the currency.
Traders in Erbil explained that the dollar’s increase is influenced by both international factors, including fluctuations in global oil prices and U.S. monetary policy, as well as local economic pressures such as inflation and supply-demand dynamics. Additionally, many businesses and individuals in the city rely on the dollar for imports, savings, and financial transactions, making it a key indicator of economic confidence.
Several money exchange offices reported that demand for the U.S. dollar has remained steady throughout the day, with some customers preferring to convert larger sums due to concerns over potential future fluctuations. Moreover, market observers noted that the narrowing gap between buying and selling prices suggests a more competitive environment among exchange offices in Erbil, which helps limit extreme price swings.
Economists say that while the rise in the dollar has been gradual, continued monitoring is necessary. Therefore, if regional tensions or economic uncertainties increase, the dollar could strengthen further, affecting the cost of imported goods and overall inflation.
Residents expressed mixed reactions: some see the dollar’s rise as an opportunity to invest and save, while others worry about the increased cost of everyday goods and services. Moreover, market analysts recommend that residents and businesses plan their financial decisions carefully, keeping in mind the potential for ongoing currency fluctuations.
As of Monday, Erbil’s dollar market shows a selling price of 155,100 dinars and a buying price of 155,050 dinars, reflecting a cautious yet steady upward trend.
