Trump's threats hikes up dollar prices in Iraq

6/1/2020 13:56:00

U.S. dollar prices have increased significantly in Iraq on Monday, following U.S. President Donald Trump's threats to sanction Iraq.


Trumps threats came after Iraqi Council of Representatives decision to expel foreign troops out of the country against the background of U.S. drone attack that killed top Iranian commander, General Qassem Soleimani on Iraqi soil.


"Today , (Monday, January 6), 100 U.S. dollar price has increased to 122,700 Iraqi dinars," Shwan Hadi, one of the money exchange store owners in Sulaymaniyah, told PUKmedia.


Meanwhile in Kirkuk, 100 U.S. dollars is equal to 123,000 Iraqi dinars, while in Iraqi capital 100 U.S. dollars is equal to 122,300 Iraqi dinars.


Before these events, 100 U.S. dollars was equal to 121,000 Iraqi dinars.


Dollar is the standard of Iraqi stock exchange markets, any rising in dollar prices will decrease the price of Iraqi dinars.


Same as Iraq, Iran has also seen a large increase in U.S. dollar prices.


Our corespondent in Iraq reported that today, Iranian currency has decreased nearly 40 toman. 1 U.S. dollar in Iran is equal to 13,340 toman.


In light of the tensions between the United States and Iran, oil prices continued to rise on Monday, as brent crude futures LCOc1 soared to a high of $70.27 a barrel, up $1.67, or 2.4%, from Friday’s settlement.


Meanwhile, oil futures in U.S. increased by 2.1%, to reach $ 64.36 per barrel.






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