About the Iraqi Dinar
The current Iraqi Dinar was issued after the 2003 invasion of Iraq, replacing the 'Saddam dinar'. The new currency was designed to be more secure and to create a single, unified currency for the entire country.
The name 'Dinar' is derived from the Roman coin, the 'denarius'.
Interesting Facts
Post-War Currency
The current dinar series was introduced under immense logistical pressure after the 2003 war, with billions of new notes flown into Iraq to replace the old currency.
The 'Swiss' Dinar
Before 1991, Iraqi Dinars were printed in Switzerland and were very stable. After sanctions, locally printed notes circulated, but the old 'Swiss' notes were still used in the Kurdistan region.
Oil-Dominated Economy
Iraq's economy is almost entirely dependent on oil exports, making the Dinar's value extremely sensitive to global energy market fluctuations.
Historical Timeline
The first Iraqi Dinar is introduced, replacing the Indian Rupee.
After the Gulf War, 'Saddam dinars' are printed, leading to a divergence between the Swiss-printed old notes and the new local notes.
New, unified banknotes are introduced after the fall of Saddam Hussein's regime.
Denominations
Banknotes
Security Features
Quick Facts
- ISO Code
- IQD
- Symbol
- ع.د
- Numeric Code
- 368
- Subunit
- Fils (1/1000)
- Introduced
- 2003-10-15
Central Bank
- Name
- Central Bank of Iraq
- Headquarters
- Baghdad, Iraq
- Founded
- 1947
- Current Governor
- Ali Mohsen Al-Alaq (since 2023)
Economic Data
- Reserve Currency Share
- 0.0%
- Forex Volume Share
- 0.0%
- Inflation Rate
- 1.6%
- Interest Rate
- 7.50%
Exchange Rates
What Affects the IQD Exchange Rate?
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