It has been reported earlier that at least 131 people were killed and hundreds more injured following the explosions.
The attack, which claimed the lives of many children and injured hundreds of people, occurred early on Sunday in central Baghdad's majority-Shiite Karrada district, the Al Jazeera news channel reported, citing its own sources.
The early morning attack claimed a large number of casualties as many Iraqi families were on the streets during the last days of the holy month of Ramadan.
The attack was followed by a second explosion. An improvised explosive device went off the also majority-Shiite Shaab area of the Iraqi capital. The blast killed five people and injured 16, according to reports.