US dollar slips below 159,000 IQD across Baghdad, Erbil, and Basra

Packs of US dollars and Iraqi dinars. Photo: Pukmedia Baghdad (IraqiNews.com) – The U.S. dollar extended its downward correction across Iraq’s parallel currency exchanges on Monday, September 21, 2026, dropping below the 159,000-dinar threshold as weekend market volatility continued to subside. Market tracking shows that despite the downward trend, parallel trading rates remain elevated well above the Central Bank of Iraq’s official statutory rate of 131,000 dinars per $100. In the capital city of Baghdad, private exchange houses posted selling prices of 158,500 dinars per $100 against purchase rates of 157,900 dinars, registering a drop of more than 1,000 dinars from Sunday’s levels. In Erbil, the capital of the Kurdistan Region, currency desks mirrored Baghdad’s selling level at 158,500 dinars per $100, while buying rates settled slightly lower at 157,750 dinars. In the southern port hub of Basra, rates recorded an even sharper dip, with bureaus offering dollars at 158,000 dinars for sale and 157,500 dinars for purchase. The continued retreat across major trading hubs indicates a brief easing in panic-buying and currency speculation following last week’s sharp climb toward 160,000 dinars. Nonetheless, market participants maintain a defensive posture, as ongoing dollar supply constraints and broader liquidity uncertainties surrounding the end-of-month deadline continue to keep the unofficial exchange spread wide.