The Iraqi dinar strengthened against the US dollar on Monday morning, with exchange rates in Baghdad and Erbil settling around 150,000 IQD per $100.
The shift marks a notable recovery for the local currency after a period of sustained pressure that saw the dollar climb to multi-week highs earlier in the week.
Just days prior, on Wednesday, the dinar had briefly recovered to 153,500 IQD per $100 before the subsequent slide.
According to a market survey by Shafaq News, the rate held steady at the 150,000 level in both the capital and the Kurdish region.
This represents a significant improvement from Tuesday’s peak of approximately 154,000 IQD per $100, when the dinar had reversed its recent gains and faced renewed selling pressure.
The volatility underscores the fragile balance in Iraq’s foreign exchange market.
Just days prior, on Wednesday, the dinar had briefly recovered to 153,500 IQD per $100 before the subsequent slide.