The exchange rates of the US dollar recorded a slight drop today, Sunday, in the markets of Baghdad and Erbil, with the morning trading starting, compared to the prices of yesterday, Saturday.
A correspondent for the news agency reported that the dollar prices fell in the Kifah and Harithiya exchanges in Baghdad to 163,300 dinars per 100 dollars, after recording 163,600 dinars in trades yesterday.
He added that the selling prices in exchange shops in Baghdad reached 163,750 dinars per 100 dollars, while the buying price was 162,750 dinars.
In Erbil, the dollar recorded a similar decrease, with the selling price reaching 163,100 dinars per 100 dollars, while the buying price reached 163,000 dinars.
This comes following the decision by the Iraqi Cabinet to adjust the dollar exchange rate, based on an urgent recommendation from the Minister of Finance and the Governor of the Central Bank, making the buying price of the dollar from the Ministry of Finance 1,500 dinars, the selling price to banks 1,510 dinars, and the selling price to the final beneficiary 1,520 dinars.
With this adjustment, the official exchange rate for the final beneficiary increased by 20,000 dinars per 100 dollars compared to the previous rate of 132,000 dinars, while the parallel market had seen increases before the decision, reaching about 165,000 dinars per 100 dollars, amid the effects of expectations and leaks related to the adjustment of the exchange rate.