Ella 
The exchange rate of the US dollar vis-a-vis the Iraqi dinar experienced a decline in both Baghdad and Erbil, the capital of the Kurdistan region of Iraq, on Sunday, coinciding with the closure of the two primary stock exchanges in the country.
The closure of Baghdad’s Al-Kifah and Al-Harithiya stock exchanges led to a decrease in the US dollar exchange rate, which dipped to 1500 dinars compared to the morning rate of 1501 dinars.
Reports from Shafaq News indicated that currency exchange shops in Baghdad registered a range of 1510 dinars to 1490 dinars for the US dollar exchange rate.
In Erbil, the exchange rate fluctuated between 1501 dinars and 1500 dinars.
The Central Bank of Iraq (CBI) had previously announced in February 2023 the implementation of a new exchange rate for the US dollar, set at 1,300 dinars per dollar. This adjustment came in contrast to the former official exchange rate of 1450 dinars per dollar, which was prevailing in the parallel market at 1550 dinars.
The disparity between official and parallel market rates was highlighted in January 2023 when the US dollar reached 1610 dinars against the local currency, while the official rate remained at 1450 dinars per dollar, resulting in a more than 10 percent gap between the two rates.
