Packs of Iraqi dinars and a person counting a pack of US dollars. Photo: NRT
Baghdad (IraqiNews.com) — Parallel market exchange rates for the U.S. dollar against the Iraqi Dinar (IQD) opened the trading week with steady pricing across major wholesale bourses in Baghdad, Erbil, and Basra on Saturday, September 5, 2026, according to monitoring data.
Retail selling rates in Baghdad and Basra held firm at 154,750 IQD per $100 USD, matching levels recorded earlier in the week, while Erbil logged a modest uptick to 154,000 IQD per $100 USD. All parallel market bourses continued to trade at a substantial premium over the Central Bank of Iraq’s (CBI) official peg of 131,000 IQD per $100 (1,310 IQD per $1 USD).
Daily Exchange Rates by City (per $100 USD)
Major MarketSelling Price (IQD)Buying Price (IQD)Market SpreadBaghdad154,750154,250500 IQDErbil154,000153,500500 IQDBasra154,750154,500250 IQD
Market Dynamics and Official Benchmark Comparison
Persistent Parallel Premium: Baghdad and Basra’s retail selling rate reflects an ongoing premium of 23,750 IQD per $100 (~18.1%) over the official central bank rate.
Narrowing Regional Spread: Erbil rose by 500 IQD compared to mid-week rates, narrowing the regional gap between the Kurdistan Region’s capital and southern/central markets to 750 IQD.
Compressed Trading Margins: Basra recorded the narrowest bid-ask spread across the country at 250 IQD, indicating strong physical liquidity and active wholesale cash settlement among regional exchange houses, while Baghdad and Erbil maintained steady 500-dinar spreads.