Fear has taken hold of Iraq’s currency markets. link to My FX Buddies Blog The Iraqi dinar continued its sharp decline on Tuesday, with the exchange rate for $100 rising to 157,000 dinars in Erbil — up from 149,000 dinars just one day earlier. Currency traders say the rapid move reflects widespread public concern and a growing rush to hold U.S. dollars instead of the local currency. According to Tahsin Khushnaw, a currency exchange office owner in Erbil, the balance inside exchange shops has flipped dramatically. Where cash was once evenly split between dinars and dollars, he says nearly three-quarters is now held in dollars, as citizens scramble to protect their savings. Several factors are converging to drive the pa ...