Tension in Syria Impacts Currency Exchange Rates
The value of the lira has once again experienced a decline following the escalating tensions in Syria, while the rates for the Iraqi Dinar and gold remain stable within the markets governed by the Kurdistan Regional Government (KRG).
As of today, the exchange rate stands at 148,250 Iraqi Dinars for 100 US Dollars in the Kurdistan Region of Iraq. This marks a continued depreciation of the currency since the incident in Syria on March 6, with Mirza reporting that one million Syrian liras now equates to 143,750 Dinars.
In a further downturn, the Syrian lira dropped to 146,000 Dinars yesterday, a significant decline from the 161,000 Dinar exchange rate noted on November 3 for the same amount of currency.
Furthermore, the US dollar is now trading at 8 million 600 thousand Iranian rials, while its value against the Turkish lira stands at 3,600 dollars.
Gold Prices Steady in Kurdistan Region
In the KRG markets, gold prices have remained stable. According to Abdullah Akram, the deputy president of the Erbil Jewels Union, the price for 21-carat gold is currently set at 613,000 Dinars. The current gold price breakdown is as follows:
| Gold Type | Price (Dinars) |
|---|---|
| 21 Carat | 613,000 |
| 22 Carat | 642,000 |
| 24 Carat | 700,000 |
| 18 Carat | 525,000 |
The data and insights provided reflect the current dynamics of the currency and gold markets in the Kurdistan Region amid broader geopolitical tensions.
