Iraq’s parallel-market dollar surges after rate reset
The dollar climbed to 168,500 dinars per $100 in Baghdad’s central exchanges as the revised official rate took effect.
The US dollar rose sharply in Baghdad and Erbil’s parallel markets on the first day of Iraq’s new official exchange-rate framework. Shafaq News reported that some exchange shops temporarily halted dollar sales amid fast-moving prices.
The reaction underscores the gap between official banking channels and informal currency trading. Stabilising the market will be a central test for the banking-sector measures announced by Baghdad.
Original reporting: Shafaq News ↗