Al -Jazeera Net Correspondents
3/3/2025–|Last update: 3/3/202508:02 PM (Mecca time)
Baghdad– The Iraqi dinar exchange rate against the dollar decreased in trading today, Thursday, in a relative manner in the parallel market, with stability in the price in the official market, at a time when the activity of the currency exchange market in the capital, Baghdad and the rest of the provinces, stops.
The exchange rate of the Iraqi dinar against the dollar in official transactions
Selling price for transfers, documentary credits and international electronic cards: 1310 dinars for the dollar.
Selling price: 1305 dinars per dollar.
Selling price in banks: 1310 dinars per dollar.
It is noteworthy that the central bank does not buy the dollar, but only sells it through the dollar sale platform, because it is the main source of the dollar in Iraq, and it gets it in exchange for selling oil globally.
It is worth noting that the decision to sell in banks is fixed and binding on it from the central bank in its capacity as remarkable decisions, not a consultant, and the price is not related to the fluctuation of prices in the parallel market, and the sale is at this price for the categories specified by the central bank, which is the category of travelers exclusively.
The Iraqi dinar exchange rate today, Thursday, in the parallel market
The exchange rate of the dollar against the Iraqi dinar increased today, Thursday, in the parallel market, with a disparity not exceeding 5 dinars per dollar, at the time of writing this report:
- The price of the dollar in Baghdad was 1490 dinars when selling and 1480 dinars when purchasing, and the price was yesterday for sale 1485, while the purchase price was 1475.
- In Erbil, the sale price reached 1485 dinars, and the purchase price was 1481 dinars, after yesterday evening 1483 dinars for sale, while the purchase price was 1481 dinars.
- The exchange rate in Basra reached 1487 dinars for sale and 1480 dinars for purchase on Thursday’s transactions after yesterday evening for sale 1485 dinars, while the purchase was 1477 dinars.
The Iraqi dinar exchange rate against other currencies
The euro: 1398 dinars in banks and 1590.5 dinars on stock exchanges.
Factors affecting the dinar exchange rate
- Currency sale auction: The daily sales volume in the currency sale auction significantly affects the exchange rate.
- Central Bank procedures: The measures taken by the Central Bank in dealing with external transfers play an important role in stabilizing the exchange rate.
- The need for the dollar: Traders need the dollar to import goods from countries that suffer from economic sanctions from the American Federal Bank (the US Central) and it is prohibited to transfer the dollar through the official platform directly on the exchange rate of the dollar against the dinar, especially what is related to Iran for the need of traders to withdraw the dollar significantly from the parallel market to pay the bills of those imported goods, which leads to the high demand against supply and high prices.
- Withdrawing the dollar from authorities dealing with the Iranian side: Sometimes some traders and brokers deal with the Iranian side the dollar from the Iraqi market in large quantities to send to Iran, which needs the dollar for its international commercial dealings because of the US sanctions on it that prohibits it from obtaining the American currency.
- Iran’s obtaining the Iraqi dinar is through the payment of Iraq for bills imported from Iran to operate the electric power plants in the Iraqi dinar because there is no mechanism for payment in dollars due to these sanctions; This purchase of the dollar from the parallel market leads to excessively high prices due to the imbalance of supply and demand.
- The smuggling of the dinar to other countries: Some traders work by smuggling the dinar to other countries to benefit from the exchange rate teams between the official and the parallel, which effectively affects the exchange rate of the dollar.
- Merchants of merchants through leaked information or rumors: Some merchants get leaked information from banks or from the central bank about a possible procedure related to changes in the mechanism of dealing with dollars, so these exchanges take precautionary measures to raise or reduce the price, purchase or sale only to anticipate the implications of the potential decision, and sometimes these leaks are just rumors that appear to be lied in the future, and their purpose is to either pump the currency significantly to the market to withdraw to withdraw The dinar and buying the future or vice versa by buying the dollar and withdrawing it from the market to sell it in the future.
