Analysis of Dollar Price Decline in Local Markets
Mahmoud Dagher, an economic expert and former general manager of the Central Bank of Iraq, has identified the recent decrease in dollar prices within local markets as primarily influenced by the currency dynamics of neighboring countries.
Dagher noted that the influx of substantial dollar quantities into these neighboring economies has resulted in increased cash reserves of hard currency, which directly contributes to the ongoing reduction in dollar pricing in local markets.
However, he cautioned that the persistence of this downward trend in dollar prices is uncertain. He pointed out potential speculative activities within the dinar market that could undermine the stability of the exchange rate.
Currently, local markets in Baghdad and the Kurdistan Region are observing a gradual decline in dollar prices. As of now, the exchange rate stands at 147,000 Iraqi dinars per 100 dollars in Baghdad, while the Kurdistan Region reflects a slightly lower rate of 146,300 dinars per 100 dollars.
Current Dollar Exchange Rates
| Location | Price (IQD for 100 USD) |
|---|---|
| Baghdad | 147,000 |
| Kurdistan Region | 146,300 |
This development underscores the interconnectedness of regional economies and the factors affecting currency exchange rates, inviting further scrutiny into potential market influences and the economic strategies that may stabilize the dinar.
