ERBIL, Kurdistan Region - The Iraqi dinar rose in value against the US dollar for the second consecutive day on Monday, following the prime minister's recent visit to the US.
Ahmed Haji Sabir Bawaji, a currency exchange broker in Erbil, told Rudaw on Monday that one US dollar was trading at 1,505 Iraqi dinars.
Over the past few days, the dollar had traded at around 1,540 dinars.
The rise in the dinar's value comes days after Iraqi Prime Minister Ali al-Zaidi announced during his week-long visit to Washington that seven Iraqi banks previously barred from dealing in foreign currencies had regained authorization to conduct transactions in currencies outside of the dollar, a step toward fully restoring their US dollar access, after meeting compliance and governance requirements under an understanding between the Central Bank of Iraq (CBI) and the US Department of the Treasury.
The restored access follows years of US-backed restrictions on Iraqi banks accused of facilitating illicit dollar transfers and currency smuggling to Iran, Syria, and sanctioned armed groups. Washington also lifted a four-month suspension on shipments of US dollar banknotes to Iraq earlier this month, easing pressure on the country's financial system.
For Zaidi, who took office in May, the trip to Washington marked his first foreign visit as prime minister. His delegation participated in convenings with US diplomats, a meeting with US President Donald Trump at the White House and an address to the US-Iraq Business Summit hosted by the US Chamber of Commerce.
During the visit, Iraq signed nearly 50 agreements with US government agencies and companies spanning the energy, electricity, and technology sectors, including energy and commercial deals with US firms valued at more than $60 billion.
