Some MPs say it is temporary
A Sudden Surge in US Dollar Exchange Rates after US airstrikes
BAGHDAD, December 26 – On Tuesday evening, Baghdad’s financial scene witnessed an abrupt escalation in US dollar exchange rates that soared to over 153,000 Iraqi dinars for $100 marking a significant shift from the previous day’s figures.
The Al-Kifah money exchange, a key indicator of currency trends in Iraq, reported a rate of 153,200 dinars for $100 this afternoon. This rate represents a sharp increase of about 3,000 dinars compared to yesterday’s rate, indicating a volatile market.
A local currency exchange worker said that it is possible that the effects on Iraq-US relations, in light of the government’s statement on today’s airstrikes, and parliamentary comments suggesting the price drop as “temporary,” have further fueled the surge.
The spike in the dollar rate has sent ripples across various currency exchange offices in Baghdad, affecting prices and the market. Despite this sudden increase, the currency exchange worker remains optimistic about a potential price reduction in the near future.