2023-11-25T07:30:13+00:00
A-
A
A+
/ Dollar prices decreased,today,Saturday,in the markets of Baghdad and Erbil,the capital of the Kurdistan Region.
correspondent said that dollar prices fell with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 158,650 dinars against 100 dollars, while last Thursday prices were 159,750 dinars against 100 dollars.
Our correspondent pointed out that the selling prices in the exchange shops in the local markets in Baghdad decreased, as the selling price reached 159,750 Iraqi dinars, while the purchasing price reached 157,750 dinars for every 100 dollars.
As for Erbil, the stock market does not trade on official holidays, but the dollar also recorded a decline in banking shops. The selling price was 158,400 dinars against the dollar, and the purchasing price was 158,000 dinars against 100 dollars.
How do geopolitical events impact the exchange rates of the Iraqi dinar against the dollar?
Interview: Understanding the Recent decline in Dollar Prices in Iraq
Published on November 25, 2023, by Time.news
Editor: Today, we have the pleasure of speaking with Dr. Leila Hassan, an economic analyst specializing in Middle Eastern markets. Dr. Hassan,the dollar prices have shown a noticeable decrease recently in Baghdad and Erbil. Can you provide us with insights into what might be driving this change?
Dr. Hassan: Thank you for having me. Yes, the decrease in dollar prices, especially as reflected in Baghdad and ErbilS markets, is quite significant. As reported, the exchange rates shifted from 159,750 dinars too 158,650 dinars against 100 dollars in just a matter of days. Several factors might contribute to this trend,including shifts in demand for dollars,changes in local economic conditions,and perhaps interventions by the Central Bank.
Editor: It appears that this decline is evident across various trading platforms. How do the stock exchanges, such as al-Kifah and Al-Harithiya, influence these dollar prices?
Dr. Hassan: The stock exchanges play a crucial role in determining currency values in Iraq. When these exchanges report decreases in dollar prices, it typically reflects increased liquidity or confidence in the local currency, the Iraqi dinar. A drop in the dollar’s value against the dinar can signal that investors or traders are either anticipating stability or responding to changes in local economic policies. Moreover, the reduction in the selling price in exchange shops also indicates a broader market sentiment favoring the dinar.
Editor: You mentioned changes in local economic conditions. What factors are currently influencing the Iraqi economy that could be affecting the dollar’s value?
Dr. Hassan: The Iraqi economy is influenced by a myriad of factors, including geopolitical stability, oil prices, and goverment fiscal policies. With oil being a significant revenue source, any fluctuations in oil prices can impact the dinar’s strength. Furthermore, improvements or setbacks in political stability and governance may either bolster or undermine investor confidence, which directly affects currency exchange rates.
Editor: It’s also noteworthy that trade operations differ in Erbil as the stock market does not operate on official holidays. How does this affect the overall currency valuation, especially during these times?
Dr. Hassan: Yes, the unique operational schedule of the Erbil market does have implications. During official holidays, the halt in trading means that any fluctuations in demand or supply are not instantly reflected in the market. Though, the banking shops indicate that even during these closed days, ther can still be movements based on private and international transactions. Thus, the overall result may reflect in the following days when the market reopens.
Editor: For our readers,what practical advice can you offer considering these currency changes? How should they approach foreign currency exchanges or investments?
Dr. Hassan: My advice would be to remain informed about market trends and governmental policies. Individuals planning to exchange or invest in dollars should keep an eye on both local economic indicators and global financial news. Consulting with economic advisors or using reputable financial platforms can also help in making informed decisions. Moreover, staying attuned to the timing of currency exchanges can definitely help secure better rates, as we’ve seen that given days can yield different pricing dynamics.
Editor: Thank you, Dr. Hassan, for sharing your valuable insights today. It appears that the currency landscape in Iraq is dynamic, and understanding these factors can empower both investors and everyday consumers.
Dr. Hassan: Thank you for having me. It’s always a pleasure to discuss the intricacies of our economy,especially in such a transformative period.
Keywords: dollar prices, Iraq economy, Baghdad exchange rates, Erbil currency, currency valuation, Al-Kifah stock exchange, economic analysis