US dollar dips to 157,500 IQD in Baghdad and Basra to open October

Packs of Iraqi dinars. Photo: Al-Ain News Baghdad (IraqiNews.com) – The U.S. dollar extended its gradual downward drift across Iraq’s parallel currency markets on Thursday, October 1, 2026, recording modest dips across trading floors in Baghdad, Erbil, and Basra to kick off the new month. Despite the slight contraction, the market rate continues to hold a spread of over 20 percent against the Central Bank of Iraq’s statutory official peg of 131,000 dinars per $100. Daily market figures released by the 964 Network indicated that currency bureaus in the capital city of Baghdad offered cash sales at 157,500 dinars per $100 against purchase bids of 156,950 dinars, shaving roughly 250 dinars off Wednesday’s close. In Erbil, the primary financial trading hub of the Kurdistan Region, parallel exchange counters quoted selling rates at 157,100 dinars per $100, while buying bids settled at 156,750 dinars. In the southern port city of Basra, trading mirrored the capital’s selling price at 157,500 dinars per $100, alongside purchase bids posted at 156,750 dinars. The easing trend reflects subdued speculative pressure on commercial bourses as local financial markets absorb recent announcements regarding upcoming foreign currency shipments to the Central Bank of Iraq. While day-to-day liquidity demand from private merchants and commercial importers remains substantial, expectations of reinforced physical dollar reserves through official channels have helped temper sharp fluctuations and sustain relatively stable trading ranges across major provincial hubs.