The average exchange rate of the dollar against the Iraqi dinar varied, in transactions on the evening of Monday, October 11, 2021, in the capital, Baghdad, and a number of provinces.
The average price of the dollar in exchange offices and local markets in the Iraqi capital, Baghdad, during today’s transactions, was about 1477.50 dinars for purchase, 1485 dinars for sale, according to local media sites.
The average price of the dollar in Iraq varies between the Kifah Stock Exchange (Baghdad Stock Exchange), and between the rest of the provinces, with a margin of a few dinars, up or down.
And the Central Bank of Iraq decided earlier in the year to adjust the exchange rate of the dollar against the Iraqi dinar, as the purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars.
As for the selling price of the dollar to banks, it was set at 1460 dinars per dollar, while the selling price to the citizen was about 1470 dinars per dollar.
The Finance Committee of the Iraqi Parliament decided, in mid-August, to keep the exchange rate at its current position.
Benefits of raising the price of the dollar
And the Iraqi Ministry of Finance announced the benefits of raising the price of the dollar, the most important of which is that it stopped the fall of the reserve currency and boosted import capabilities.
A statement by the ministry stated, “The ministry has continuously followed the indications of devaluation of the currency against the dollar and over the past 9 months.”
She added that after implementing the reform measures, foreign reserves with the Central Bank of Iraq rose to $60 billion in April 2021, compared to $54 billion in January 2020.
The price of the dollar in Iraq
The dollar exchange rate fell on the Kifah Stock Exchange, in Baghdad today, to about 1482 dinars, and in the Al-Harithiya Stock Exchange, it recorded about 1482.50 dinars, and the same price was repeated in the Basra Stock Exchange.
The price of the dollar on the Erbil Stock Exchange scored about 1484.50 dinars, and on the Duhok Stock Exchange it recorded about 1485.50 dinars.
On the Sulaymaniyah Stock Exchange, the price of the dollar was about 1485 dinars, and the same price was repeated on the Mosul Stock Exchange.
Euro and Pound Rates
And the average price of the euro, against the Iraqi dinar, in today’s trading, was about 1699.63 dinars for purchase, and 1703.96 dinars for sale.
The average price of the pound sterling against the Iraqi dinar today was about 2004.11 dinars for purchase, and 2004.96 dinars for sale.
The prices of the riyal, dirham and dinar
The average exchange rate of the Saudi riyal, against the Iraqi dinar, in today’s transactions, was about 391.42 dinars for purchase, and 392.24 dinars for sale.
The average price of the UAE dirham, against the Iraqi dinar, was about 400.06 dinars for purchase, and 400.08 dinars for sale.
The average price of the Kuwaiti dinar, against the Iraqi dinar, was about 4864.31 dinars for purchase, and 4879.37 dinars for sale.