Iraqi dinar hits nine-month high against US dollar
On Sunday, the US Dollar was trading at 147,750 dinars, but it has since appreciated to 145,950 dinars, signaling a positive shift in the national currency's value.
ERBIL (Kurdistan24) – The Iraqi Dinar exchange rate has reached its highest level in the past nine months, with the currency strengthening against the US Dollar in both the Iraqi and Kurdistan Region markets.
On Sunday, the US Dollar was trading at 147,750 dinars, but it has since appreciated to 145,950 dinars, signaling a positive shift in the national currency's value.
This significant improvement is largely attributed to the effective measures implemented by the Central Bank of Iraq. The bank's consistent efforts in maintaining a steady supply of dollars, coupled with a decrease in demand for the US currency, have played a key role in strengthening the dinar.
Despite rumors surrounding potential sanctions on Iraqi banks, the exchange rate has remained stable, providing further confidence in the resilience of the Iraqi economy.