Gold Prices and Currency Exchange Rates in the Kurdistan Region of Iraq
The value of gold has shown notable gains, with each gram rising by approximately 10,000 dinars. Concurrently, the exchange rate of the Iraqi dinar has also strengthened relative to the previous day.
Abdullah Akram, the Deputy President of the Erbil Jewelry Union, reported today that the price for 21 carat gold has reached 610,000 dinars. The market values for other gold purities are as follows:
| Gold Purity | Price (Dinars) |
|---|---|
| 21 Carat | 610,000 |
| 22 Carat | 640,000 |
| 24 Carat | 697,000 |
| (Assumed 18 Carat) | 522,000 |
Over the past three days, the price for each gram of gold has increased by more than 10,000 dinars. In terms of global market trends, gold in the Kurdistan Region of Iraq (KRG) is trading at $2,885 per ounce. Financial analysts at JP Morgan are optimistic, projecting that the price of gold could reach $3,000 by the end of this year.
Currency Exchange Rates
As of Wednesday, the exchange rate for the US dollar against the Iraqi dinar in the Kurdistan Region stands at 148,500 dinars for every 100 US dollars. Other currency exchange rates are as follows:
| Currency | Rate (Dinars) |
|---|---|
| 1 Million Syrian Pounds | 152,500 |
| 1 US Dollar against Iranian Rial | 9.2 Million |
| 3,500 Turkish Lira | 1 US Dollar |
This data underscores the dynamic nature of currency values and precious metals in the KRG, reflecting ongoing economic adjustments and market influences.
