Introduction:

Since the overthrow of the previous ruling party, the Ba’ath party, the exchange rate of the Iraqi Dinar against the US Dollar has been going through repetitive cycles of instability. From that time, various factors, including civil wars, external and geopolitical factors, the pandemic, and mismanagement of economic policies, have influenced the exchange rate of the US Dollar against the Iraqi Dinar. 

Even though the Iraqi Dinar is the official currency of Iraq, Iraq’s dependency on oil as the sole source of its economy has made the unstable exchange rate of US Dollars a repeated process. Therefore, global factors affecting fluctuation in oil prices, such as geopolitical incidents and conflicts, have been consistently affecting the exchange rate of US Dollars against Iraqi Dinars 

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