US dollar exchange rate goes down in Baghdad & Erbil
(Image source: Alexander Schimmeck)
Baghdad (Iraqinews.com) – The exchange rate of the US dollar went down in the Iraqi Stock Exchange and dropped slightly in the region of Iraqi Kurdistan on Tuesday.
At the stock exchange of Baghdad’s Al Keffah and Al Harithia, the rate of $100 amounted to 147,975 Iraqi dinars compared with 148,050 a day earlier, Shafaq News reported.
At the local exchange offices in Baghdad, $100 hit 148,500 Iraqi dinars for selling and 147,500 Iraqi dinars for buying.
In Erbil, the capital of Iraqi Kurdistan, $100 recorded 148,200 Iraqi dinars for selling and 148,050 Iraqi dinars for buying.
Economic growth is gradually recovering following last year’s pandemic-related contraction, partly due to higher non-oil activity, the World Bank (WB) said in a report earlier.
Improved global oil market conditions are expected to reinforce growth in the medium term and turn the fiscal and external balances to surpluses from 2021, and to reverse the recent surge in debt.
In the first half of 2021 (H1-21), the GDP grew by 0.9% year on year (y/y). The non-oil economy grew by over 21% in H1-21 (y/y) owing to a solid performance in the services sectors (COVID-19 containment measures were eased, aided by a pick-up in the vaccination campaign and the decline in COVID infection positivity rate).
This recovery outpaced the slowdown in the oil sector, down by 10% in H1-21, as Iraq adjusted to its OPEC+ quota early in the year, the WB explained.