IQD Weakens as Dollar Climbs: Oil & Policy Hold the Keys
The dollar just gained strength in Iraq. Exchange rates in Baghdad hit 141,450 IQD per 100 USD, while sellers asked up to 142,500 IQD; a clear sign the dinar is under pressure. Why?
Oil prices are hovering at $66.62 per barrel, dangerously close to Iraq’s fiscal break-even. Gold is trading high at $3,269.16/oz, signaling global risk aversion. The IQD, still tightly managed, is showing signs of strain in informal markets.
But this isn’t the signal for an imminent IQD revaluation.
The real pivot?
Iraq’s ability to rein in spending, diversify beyond oil, and implement banking reforms urged by the IMF.
Until then, the parallel market will continue whispering what the official rate won’t.
For IQD holders, this is a watch and hedge moment.
For VDN holders, the impact is distant; but still a cue to track Middle Eastern oil-linked volatility.
Hedging remains key. Gold, SILVER, real estate, BTC (still projected to hit $151K), or XRP are worth considering.
