US dollar approaches 170,000 dinars across Baghdad and Basra markets

Packs of US dollars and Iraqi dinars. Photo: Pukmedia Baghdad (IraqiNews.com) – The exchange rate of the U.S. dollar against the Iraqi dinar continued its incremental climb across major domestic parallel markets on Thursday morning, November 12, 2026, nudging closer to the psychological 170,000 IQD ceiling in Baghdad and Basra after stabilizing near 167,000 IQD per $100 throughout the previous week. According to morning monitoring figures across primary commercial hubs, physical cash rates traded as follows: Baghdad: Currency exchange counters posted retail selling rates at 169,500 IQD against buying offers of 168,000 IQD per $100. Erbil: Currency desks recorded slightly softer retail sales at 169,200 IQD, with purchasing bids holding firmer at 169,000 IQD per $100. Basra: Foreign exchange offices matched the capital’s pricing spread, quoting selling rates at 169,500 IQD and buying offers at 168,000 IQD per $100. This upward pressure widens the spread between secondary physical cash markets and the Central Bank of Iraq’s (CBI) official cash rate—fixed at 152,000 IQD per $100 (1,520 IQD per dollar) since October 7, 2026. The divergence reflects ongoing friction between formal customs/tariff disclosures and informal trade financing, keeping physical greenback demand elevated outside official electronic transfer channels.