Iraqi dinar: Difference between revisions
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{{Short description|Currency of Iraq}} |
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{{Use dmy dates|date=August 2017}} |
{{Use dmy dates|date=August 2017}} |
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{{Infobox currency |
{{Infobox currency |
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| local_name1 = دينار عراقي |
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| currency_name_in_local ={{native name|ar|دينار عراقي|italics=no}}<br>{{native name|ku|دیناری عێراقی|italics=no}} |
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| local_name_lang1 = ar |
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| local_name2 = دیناری عێراقی |
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| local_name_lang2 = ku |
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| image_1 = Dinar-25000.jpg |
| image_1 = Dinar-25000.jpg |
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| image_title_1 = 25,000 |
| image_title_1 = IQD 25,000 banknote from the 2003 series |
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| iso_code = IQD |
| iso_code = IQD |
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| using_countries = {{flag|Iraq}} |
| using_countries = {{flag|Iraq}} |
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| inflation_rate = 1.79% |
| inflation_rate = 1.79% |
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| inflation_source_date = ''Central Bank of Iraq'', May 2015 |
| inflation_source_date = ''Central Bank of Iraq'', May 2015 |
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| subunit_ratio_1 = {{ |
| subunit_ratio_1 = {{frac|1|1000}} |
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| subunit_name_1 = [[Fils (currency)|fils]]<ref>{{Cite web |title=Currency of Iraq: Iraqi dinar, today's rate |url=https://www.mataf.net/en/currency/converter-IQD |access-date=2022-06-19 |website=Mataf |language=en}}</ref> |
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| subunit_name_1 = [[Fils (currency)|fils]] |
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| symbol = د.ع |
| symbol = IQD or د.ع |
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| frequently_used_banknotes = IQD 250, IQD 500, IQD 1,000, IQD 5,000, IQD 10,000, IQD 25,000 |
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| rarely_used_banknotes = IQD 50,000 |
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| frequently_used_banknotes = 1,000, 5,000, 10,000, 25,000, 50,000 dinars |
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| used_coins = IQD 25, IQD 50, IQD 100 |
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| rarely_used_banknotes = 250, 500 dinars |
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| issuing_authority = [[Central Bank of Iraq]] |
| issuing_authority = [[Central Bank of Iraq]] |
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| issuing_authority_website = {{URL|www.cbi.iq}} |
| issuing_authority_website = {{URL|www.cbi.iq}} |
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}} |
}} |
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The '''Iraqi dinar'''{{Efn|{{langx|ar|دينار عراقي}}, {{IPA|ar|diːˈnɑːr}} {{langx|ku|دیناری عێراقی}}.}} ([[ISO 4217|code]]: '''IQD''')<ref>{{cite web|url=https://www.cia.gov/the-world-factbook/countries/iraq/|title=Iraq|publisher=CIA.gov}}</ref> is the currency of [[Iraq]]. The Iraqi dinar is issued by the [[Central Bank of Iraq]] (CBI). On 7 February 2023, the exchange rate with the US Dollar was US$1 = 1300 dinars.<ref>{{Cite web |title=Dollar to Iraqi Dinar Exchange Rate Today, Live 1 USD to IQD = 1462.4821 (Convert Dollars to Iraqi Dinar) |url=https://www.exchangerates.org.uk/Dollars-to-Iraqi-Dinar-currency-conversion-page.html |access-date=2023-02-07 |website=exchangerates.org.uk}}</ref> |
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The '''Dinar''' ({{IPA-ar|diːˈnɑːr}}) ([[Arabic language|Arabic]]: دينار, [([[currency sign|sign]]: '''د.ع'''; [[ISO 4217|code]]: '''IQD''') is the currency of [[Iraq]]. It is issued by the [[Central Bank of Iraq]] and is subdivided into 1,000 fils (فلس), although inflation has rendered the fils obsolete since 1990. |
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==History== |
==History== |
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The dinar |
The Iraqi dinar entered circulation on 1 April 1932,<ref>{{cite book | last = Epstein | first = Mortimer | title = The Statesman's Year-Book: Statistical and Historical Annual of the States of the World for the Year 1943 | publisher = Palgrave Macmillan Limited | year = 2016 | url = https://books.google.com/books?id=ndbMDQAAQBAJ | isbn = 978-0230270725}}</ref><ref>{{cite book | last = Naval Intelligence Division | series = Geographical handbook | title = Iraq & The Persian Gulf | publisher = Routledge | year = 2014 | url = https://books.google.com/books?id=o1NsBAAAQBAJ | isbn = 978-1136892660}}</ref><ref>{{cite book | last = Sassoon | first = Joseph | title = Economic Policy in Iraq, 1932–1950 | publisher = Cass | year = 1987 | url = https://books.google.com/books?id=SUEsBgAAQBAJ | isbn = 1136285687}}</ref><ref>{{cite web|url=https://www.dinar2u.com/iraqidinar/history.php|title=Iraq Monetary History|website=Dinar2u.com|access-date=27 December 2020}}</ref><ref>{{cite web | last1 = Symes | first1 = Peter | last2 = Hanewich | first2 = Murray | last3 = Al-Muderis | first3 = Layth |url=http://www.pjsymes.com.au/articles/iraq-cb.htm|title=The Bank Notes of the Iraq Currency Board|website=p j symes|access-date=27 December 2020}}</ref> replacing the [[Indian rupee]], which had been the official currency since the [[Mesopotamian campaign|British occupation of the country]] in [[World War I]], at a rate of 1 dinar = 11 rupees. The dinar was pegged at par with [[Pound sterling|sterling]] until 1959 when, without changing its value, the peg was switched to the [[United States dollar]] at the rate of IQD 1 = US$2.80. By not following the US [[devaluation]]s in 1971 and 1973, the official rate rose to US$3.3778, before a 5% devaluation reduced its rate to US$3.2169, a rate which remained until the [[Gulf War]] in 1990, although in late 1989 the black market rate was reported at five to six times higher than the official rate.<ref>Wheeler, Tony. ''West Asia on a Shoestring''. 2nd. Hawthorn, Australia: Lonely Planet, 1990.</ref> |
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=== Post-1990 developments === |
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After the Gulf War in 1991, due to UN sanctions, the previously used Swiss printing method was no longer available so new, inferior quality, notes were produced. The previously produced notes became known as the [[Swiss dinar]] and continued to circulate in the Kurdish region of Iraq. Due to sanctions placed on Iraq by the United States and the international community along with excessive government printing, the new dinar notes devalued quickly. By late 1995, US$1 was valued at 3,000 dinars at the black market. |
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After the Gulf War in 1990, due to [[Sanctions against Iraq|UN sanctions]], Iraq was no longer able to place orders with [[De La Rue]] for further issues of the previously high quality notes, so new notes were produced. The pre-1990 notes became known as ''[[Iraqi Swiss dinar|Swiss dinars]]'' while the new dinar notes were called ''Saddam dinars''. Due to United States and the international sanctions on Iraq along with excessive government printing, the Saddam dinar currency devalued quickly. By late 1995, US$1 was valued at 3,000 Saddam dinars on the black market. |
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During the [[Iraqi no-fly zones conflict]], Swiss dinars notes continued to circulate in the then politically isolated Kurdish-populated northern Iraq. The northern Iraqi Kurdistan government that was created as a result, refused to accept the inflated Saddam dinar notes (which were issued in huge amounts). Since the supply of Saddam dinar notes increased while the supply of Swiss dinar notes remained stable (even decreased because of notes taken out of circulation), the Swiss dinar notes appreciated against the Saddam dinar note. By having its own stable supply of the Swiss Iraqi dinars, the politically isolated region effectively evaded inflation, which ran rampant throughout the rest of the country.<ref name="Foote">{{Cite journal| last1 = Foote| first1 = Christopher |last2= Block | first2 = William | last3 = Crane| first3 = Keith| last4 = Gray| first4 = Simon| title = Economic Policy and Prospects in Iraq | journal = The Journal of Economic Perspectives | volume = 18 | issue = 3 | pages = 47–70 | date = Summer 2004 | doi = 10.1257/0895330042162395|display-authors=etal| doi-access = free}}</ref> |
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Following the deposition of [[Saddam Hussein]] in the [[2003 invasion of Iraq]], the [[Iraqi Governing Council]] and the [[Office for Reconstruction and Humanitarian Assistance]] began printing more Saddam dinar notes as a stopgap measure to maintain the money supply until new currency could be introduced. |
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After [[Saddam Hussein]] was deposed in the [[2003 invasion of Iraq]], the [[Iraqi Governing Council]] and the [[Office for Reconstruction and Humanitarian Assistance]] printed more Saddam dinar notes as a stopgap measure to maintain the money supply until a new currency could be introduced. |
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Between 15 October 2003, and 15 January 2004, the [[Coalition Provisional Authority]] issued new Iraqi dinar coins and notes, with the notes printed by the British security printing firm [[De La Rue]] using modern anti-forgery techniques to "create a single unified currency that is used throughout all of Iraq and will also make money more convenient to use in people's everyday lives". Multiple trillions of Dinar were then shipped to Iraq and secured in the CBI for distribution to the masses in exchange for the 'Saddam dinar'.<ref>{{cite web|author=[[Coalition Provisional Authority]] |url=http://www.cpa-iraq.org/budget/IraqCurrencyExchange.html |title=Iraq Currency Exchange |accessdate=2007-05-28 |archiveurl=https://web.archive.org/web/20070515093736/http://www.cpa-iraq.org/budget/IraqCurrencyExchange.html |archivedate=15 May 2007 |deadurl=unfit }}</ref> Old banknotes were exchanged for new at a one-to-one rate, except for the Swiss dinars, which were exchanged at a rate of 150 new dinars for one Swiss dinar. At this point, the UN, IMF, WB and US combined to limit the value of the dinar to less than 1/10 of a cent to prevent looting and counterfeiting. The US Treasury was commissioned to print multiple billions of US currency, specific to Iraq so as to easily identified as different from that used elsewhere in the world. This new currency was then wrapped and stacked on pallets and shipped in dozens of USAF transports to Iraq. There it was transferred covertly to the CBI, where it was stored in very secure vaults.{{Citation needed|date=October 2017}} |
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Between 15 October 2003 and 15 January 2004, the [[Coalition Provisional Authority]] issued new Iraqi dinar notes and coins, with the notes printed by the British security printing firm [[De La Rue]] using modern anti-forgery techniques to "create a single unified currency that is used throughout all of Iraq and will also make money more convenient to use in people's everyday lives". Multiple trillions of dinars were shipped to Iraq and secured in the Central Bank{{clarify|date=January 2020}} to exchange for Saddam dinar notes.<ref>{{cite web|author=Coalition Provisional Authority|author-link=Coalition Provisional Authority|url=http://www.cpa-iraq.org/budget/IraqCurrencyExchange.html |title=Iraq Currency Exchange |access-date=2007-05-28 |archive-url=https://web.archive.org/web/20070515093736/http://www.cpa-iraq.org/budget/IraqCurrencyExchange.html |archive-date=15 May 2007 |url-status=unfit }}</ref> Saddam dinar notes were exchanged for the new dinars at par, while Swiss dinar notes were exchanged at a rate of one Swiss dinar = 150 new dinars. |
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Since Iraq has few exports other than oil, which is sold in dollars, there is little demand for dinars and they remain in "exotic" status. However the new currency has sparked a multimillion-dollar industry in selling dinars to speculators. These so-called "money service" companies will sell dinar to speculators at an inflated price and push the idea that the dinar will "RV" or be revalued to greatly increase the exchange rate against the dollar. {{As of|2016|01}} the dinar is pegged to the dollar at a rate of 1182/1180 (sell/buy) dinars per dollar.<ref name="cbi">{{cite web |url= http://www.cbi.iq/?pid=Home&lang=en |title=Central Bank of Iraq home page|date=28 January 2016 |website=CBI.iq |quote=Indicative rates. }}</ref> The current exchange rate is published by the Central Bank of Iraq on its English-language home page. The [[exchange rate]] reportedly available on the streets of Iraq is around 1,300 dinars per U.S. dollar. |
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Inflation and depreciation of the currency has continued since. On 19 December 2020, Iraq's Central Bank devalued the dinar by 24% to improve the government's revenue, which was affected by the [[COVID-19 pandemic]] and low oil prices.<ref>{{cite web |last1=Payne |first1=Andrew |title=Iraq becomes latest country to devalue its currency |url=https://www.eca-international.com/insights/blog/december-2020/iraq-becomes-latest-country-to-devalue-currency |access-date=17 March 2022 |archive-date=18 February 2022 |archive-url=https://web.archive.org/web/20220218135009/https://www.eca-international.com/insights/blog/december-2020/iraq-becomes-latest-country-to-devalue-currency |url-status=dead }}</ref> On 2 March 2019, the Central Bank's indicative exchange rate was IQD 1,190 = US$1.<ref name="cbi">{{cite web |title=Home |url=https://cbi.iq/ |website=Central Bank of Iraq |access-date=2 March 2019 |archive-url=https://web.archive.org/web/20190302173529/https://cbi.iq/ |archive-date=2 March 2019 |language=ar}}</ref> and on 18 June 2021 it was IQD 1,460.5000 = US$1. |
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There is considerable confusion (perhaps intentional on the part of dinar sellers) around the role of the [[International Monetary Fund]] in Iraq. The IMF as part of the rebuilding of Iraq is monitoring their finances and for this purpose uses a single rate (not a sell/buy) of 1170 dinars per dollar. This "program rate"<ref>International Monetary Fund, [Iraq: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding http://www.imf.org/external/np/loi/2011/irq/030311.pdf], 3 March 2011, p. 17.</ref> is used for calculations in the IMF monitoring program and is not a rate imposed on Iraq by the IMF. For a wider history surrounding currency in the region, see [[British currency in the Middle East]]. |
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There is considerable confusion (perhaps intentional on the part of dinar sellers) around the role of the [[International Monetary Fund]] in Iraq. The IMF as part of the rebuilding of Iraq is monitoring Iraq's finances and for this purpose uses a single rate (not a sell/buy) of IQD 1170 per US$. This "program rate"<ref>International Monetary Fund, [http://www.imf.org/external/np/loi/2011/irq/030311.pdf Iraq: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding], 3 March 2011, p. 17.</ref> is used for calculations in the IMF monitoring program and is not a rate imposed on Iraq by the IMF. For a wider history surrounding currency in the region, see [[British currency in the Middle East]]. |
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== Speculation == |
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In response to the growing concerns with [[List of confidence tricks#Iraqi Dinar|fraud and scams]] related to investment in the Iraqi dinar, State agencies such as Washington state,<ref>{{cite web|title=Consumer Alert: Iraqi Dinar Scams|url=http://www.dfi.wa.gov/consumer/alerts/iraqi-dinar-scams}}</ref> Utah,<ref>{{cite web|title=Utah Division of Securities identifies Top Ten Investment Alerts for 2011|url=http://commerce.utah.gov/releases/11-01-03_sec-top10-alerts.pdf}}</ref> Oklahoma,<ref>{{cite web|title=PRESS RELEASE – IRAQI DINAR SCAMS |url=http://www.securities.ok.gov/Press_Releases/PRDetail.asp?ID=74 |deadurl=yes |archiveurl=https://web.archive.org/web/20150206191907/http://www.securities.ok.gov/Press_Releases/PRDetail.asp?ID=74 |archivedate=6 February 2015 |df= }}</ref> Alabama<ref>{{cite web|title=INVESTOR ALERT – Understanding high-risk investments What you don't know CAN hurt you!|url=http://www.asc.alabama.gov/News/2014%20News/3-12-14%20INVESTOR%20ALERT-Bitcoin%20and%20Dinar.pdf}}</ref> and others have issued statements and releases warning potential investors. Further alerts have been issued by news agencies.<ref>{{cite web|title=Iraqi Dinar Investment – Fact or Fiction|url=http://whnt.com/2014/05/09/iraqi-dinar-investment-fact-or-fiction/}}</ref> |
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=== Use in speculation and fraud since the Iraq war (2003–present) === |
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The Better Business Bureau has included ''Dinar Investments'' in its list of top 10 scams.<ref>{{cite web|title=Top Ten Scams 2013|url=http://www.bbb.org/council/news-events/news-releases/2014/02/top-ten-scams-2013/}}</ref> There has also been a book written on the subject.<ref>{{cite web|title=The Iraqi Dinar Scam: Why Buying the Dinar is for Dummies|url=https://www.amazon.com/The-Iraqi-Dinar-Scam-ebook/dp/B007Z9DFN8}}</ref> |
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There is little international demand for dinars, since Iraq has few exports other than oil, which is sold in [[petrodollar|US dollars]]. Thus there is often an extremely high [[exchange rate]] for dinars compared with other currencies. |
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However, the downfall of [[Saddam Hussein]] resulted in the development of a multi-million-dollar industry involving the sale of dinars to speculators. Such [[Bureau de change|exchange service]]s and companies sell dinars at an inflated price, pushing the idea that the dinar would sharply [[deflation|increase in value]] to a profitable exchange rate some time in the future, instead of being [[redenomination|redenominated]]. This activity can be either a legitimate service to [[Market speculation|currency speculators]], or [[foreign exchange fraud]]: at least one major such currency exchange provider was convicted of fraud involving the dinar.<ref>{{cite press release |date=2018-10-10 |title=Owners of currency exchange business that made $600 million convicted of fraud |url=https://www.justice.gov/usao-ndga/pr/owners-currency-exchange-business-made-600-million-convicted-fraud |location=Georgia, USA |publisher=U.S. Attorney’s Office, Northern District of Georgia |agency=Department of Justice |access-date=2018-11-20}}</ref> This trade revived after the election of [[Donald Trump]] in November 2016, with many buyers believing that Trump would cause a sharp revaluation in the dinar (often referred to by the abbreviation "RV" by supporters of the dinar trade,) to an exchange rate comparable to the US dollar.<ref>{{Cite news |url=https://www.thedailybeast.com/trump-fans-sink-savings-into-iraqi-dinar-scam |title=Trump Fans Sink Savings Into 'Iraqi Dinar' Scam |last=Sommer |first=Will |date=2018-11-20 |work=The Daily Beast |language=en}}</ref> |
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These alerts warn potential investors that there is no place outside Iraq to exchange their dinar, that they are typically sold by dealers at inflated prices and that there is little to substantiate the claims of significant appreciation of their investment due to revaluation of the currency. |
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In 2014, Keith Woodwell (director of the Utah Division of Securities) and Mike Rothschild (writer for ''[[Skeptoid]]'' blog) stated that the speculation over the Iraqi dinar originated from a misunderstanding of why the value of the [[Kuwaiti dinar]] recovered after the [[Gulf War|First Gulf War]], leading to an assumption that the Iraqi dinar would follow suit after the fall of Saddam: Woodwell and Rothschild noted substantial differences in economic and political stability between Iraq and Kuwait, with Iraq facing pervasive sectarian violence amid near-total reliance on oil exports.<ref>{{cite web |last1=Rothschild |first1=Mike |title=The Ugly Truth About the Iraqi Dinar |url=https://skeptoid.com/blog/2014/02/10/the-ugly-truth-about-the-iraqi-dinar/ |website=Skeptoid |publisher=Skeptoid Media |access-date=2 March 2019 |archive-url=https://web.archive.org/web/20190302190535/https://skeptoid.com/blog/2014/02/10/the-ugly-truth-about-the-iraqi-dinar/ |archive-date=2 March 2019 |date=10 February 2014}}</ref><ref>{{cite web |last1=Lee |first1=Jasen |title=Long-running scam involves foreign currency |url=https://www.ksl.com/article/28221507/long-running-scam-involves-foreign-currency |website=KSL-TV |publisher=Bonneville International Corporation |access-date=2 March 2019 |archive-url=https://web.archive.org/web/20190302190704/https://www.ksl.com/article/28221507/long-running-scam-involves-foreign-currency |archive-date=2 March 2019 |location=Salt Lake City |date=3 January 2014}}</ref> |
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In response to the growing concerns about [[List of confidence tricks#Iraqi Dinar|fraud and scams]] related to investment in the Iraqi dinar, State agencies such as Washington State,<ref>{{cite web|title=Consumer Alert: Iraqi Dinar Scams|url=http://www.dfi.wa.gov/consumer/alerts/iraqi-dinar-scams|website=Department of Financial Institutions |publisher=[[Washington (state)|Washington state]] |date=15 April 2011}}</ref> Utah,<ref>{{cite press release|title=Utah Division of Securities identifies Top Ten Investment Alerts for 2011|url=http://commerce.utah.gov/releases/11-01-03_sec-top10-alerts.pdf|publisher=State of Utah Department of Commerce, Division of Securities|date=3 January 2011|location=Salt Lake City|last=Bolton|first=Jennifer|access-date=31 October 2014|archive-date=17 August 2014|archive-url=https://web.archive.org/web/20140817020904/http://commerce.utah.gov/releases/11-01-03_sec-top10-alerts.pdf|url-status=dead}}</ref> Oklahoma,<ref>{{cite press release|last=Faught |first=Irving |title=PRESS RELEASE – IRAQI DINAR SCAMS |publisher=Oklahoma Securities Commission |url=http://www.securities.ok.gov/Press_Releases/PRDetail.asp?ID=74 |date=2 February 2012 |url-status=dead |archive-url=https://web.archive.org/web/20150206191907/http://www.securities.ok.gov/Press_Releases/PRDetail.asp?ID=74 |archive-date=6 February 2015 }}</ref> Alabama<ref>{{cite web|title=INVESTOR ALERT – Understanding high-risk investments What you don't know CAN hurt you!|date=12 March 2014|publisher=Alabama Securities Commission|url=http://www.asc.alabama.gov/News/2014%20News/3-12-14%20INVESTOR%20ALERT-Bitcoin%20and%20Dinar.pdf|access-date=8 September 2019|archive-date=14 September 2023|archive-url=https://web.archive.org/web/20230914151107/https://asc.alabama.gov/News/2014%20News/3-12-14%20INVESTOR%20ALERT-Bitcoin%20and%20Dinar.pdf|url-status=dead}}</ref> and others issued statements and releases warning potential investors. Further alerts were issued by news agencies.<ref>{{cite news|title=Iraqi Dinar Investment – Fact or Fiction|url=http://whnt.com/2014/05/09/iraqi-dinar-investment-fact-or-fiction/|work=WHNT |date=9 May 2014}}</ref> These alerts usually warn potential investors that there is no place outside Iraq to exchange the dinar, that they are typically sold by dealers at inflated prices, and that there is little evidence to substantiate the claims of significant appreciation of their investment due to revaluation of the currency. |
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In February 2014, the [[Better Business Bureau]] included investing in the dinar as one of the ten most notable scams in 2013.<ref>{{cite web |title=Top Ten Scams 2013 |url=https://www.bbb.org/new-mexico-southwest-colorado/get-consumer-help/tips/top-ten-scams-of-2013 |date=11 February 2014 |publisher=Better Business Bureau/ |location=[[Arlington, VA]] |access-date=22 August 2018 |archive-date=22 August 2018 |archive-url=https://web.archive.org/web/20180822213757/https://www.bbb.org/new-mexico-southwest-colorado/get-consumer-help/tips/top-ten-scams-of-2013 |url-status=dead }}</ref> There has also been a book written on the subject.<ref>{{cite book|title=The Iraqi Dinar Scam: Why Buying the Dinar is for Dummies|date=30 April 2012|publisher=Learning Markets|url=https://www.amazon.com/The-Iraqi-Dinar-Scam-ebook/dp/B007Z9DFN8}}</ref> |
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==Coins== |
==Coins== |
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Coins were introduced in 1931 and 1932 in [[Denomination (currency)|denominations]] of round 1 and 2 fils in bronze, and scalloped 4 and 10 fils in nickel. 20, 50, and 200 fils were 50% silver. The 200 fils coin is also known as a ''rial''. Bronze substituted nickel in the 5 and 10 fils from 1938 to 1943 during the World War II period and reverted to nickel in 1953. Silver 100 fils coins were also introduced in 1953. These coins first depicted [[King Faisal I]] from 1931 to 1933, [[King Ghazi]] from 1938, and [[King Faisal II]] from 1943 until the end of the kingdom. |
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{{Coin image box 1 double |
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| header = 10 Fils (1967) |
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| image = |
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| caption_left = '''Obverse''': Lettering: ١٣٨٧ ١٩٦٧ |
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| caption_right = '''Reverse''': الجمهورية العراقية, ١٠& فلوس |
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| width = 250 |
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| footer = Made of Copper-nickel, coin was engraved by Geoffrey Colley. 25,400,000 coins minted in 1967 & 1971. |
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| position = right |
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| margin = 0 |
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}} |
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Following the establishment of the Iraqi Republic, a new series of coins was introduced in denominations of 1, 5, 10, 25, 50, and 100 fils, with the 25, 50, and 100 fils in silver until 1969. In this series an allegorical sun replaced the image of the king, shapes and sizes remained the same with the exception of the 1 fil which was [[decagon]] shaped. This image was then replaced by three palms in 1968. In 1970, 250 fils pieces were introduced, followed by 500 fils and IQD 1 coins in 1982. A number of the coins for 1982 were a commemorative series celebrating Babylonian achievements. During this period, many of the coins were identified by their shape due to being made of similar composition metals, as from 1980 onward 250 fils were octagonal, 500 fils square, and IQD 1 decagon shaped. Coin production ceased after 1990 due to the emergency conditions generated by the [[Gulf War]] and international sanctions. |
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Coins were introduced in 1931 and 1932 in [[Denomination (currency)|denominations]] of round 1, and 2 fils in bronze, and scalloped 4, and 10, fils in nickel. 20, 50, and 200 fils were 50% silver. The 200 fils coin is also known as a ''rial''. Bronze substituted nickel in the 5 and 10 fils from 1938 to 1943 during the World War II period and reverted to nickel in 1953. Silver 100 fils coins were also introduced in 1953. These coins first depicted [[King Faisal I]] from 1931 to 1933, [[King Ghazi]] from 1938, and [[King Faisal II]] from 1943 until the end of the kingdom. |
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In 2004, a new series of coins were issued in denominations of IQD 25, IQD 50 and IQD 100 and were struck in bronze, brass, and nickel-plated steel respectively. They are sparse in design and depict an abstract map of Iraq and the main rivers. |
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Following the establishment of the Iraqi Republic, a new series of coins was introduced in denominations of 1, 5, 10, 25, 50, and 100 fils, with the 25, 50, and 100 fils in silver until 1969. In this series an allegorical sun replaced the image of the king, shapes and sizes remained the same with the exception of the 1 fil which was [[decagon]] shaped. This image was then replaced by three palms in 1968. In 1970, 250 fils pieces were introduced, followed by 500 fils and 1 dinar coins in 1982. A number of the coins for 1982 were a commemorative series celebrating Babylonian achievements. During this period, many of the coins were identified by their shape due to being made of similar composition metals, as from 1980 onward 250 fils were octagonal, 500 fils square, and 1 dinar decagon shaped. Coin production ceased after 1990 due to the emergency conditions generated by [[Gulf War]] and international sanctions. |
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<gallery> |
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In 2004, new 25-, 50- and 100-dinar coins were introduced in bronze, brass, and nickel-plated steel respectively. They are sparse in design and depict an abstract map of Iraq and the main rivers. |
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File:4 Fils, 1933, obverse.jpg|4 Fils, 1933, obverse |
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File:4 Fils, 1933 reverse.jpg|4 Fils, 1933, reverse |
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File:Iraq Bronze Coin King Ghazi.jpg|10 fils 1938, obverse |
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File:IRAQ, GHAZI I 1938 -50 FILS b - Flickr - woody1778a.jpg|50 fils 1938, obverse |
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File:IRAQ, GHAZI I 1938 -50 FILS a - Flickr - woody1778a.jpg|50 fils 1938, reverse |
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File:Syp59year.jpg|10 fils 1959 |
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File:مسكوكة 50 فلس التذكارية (احياء بابل اثريا واجب وطني وقومي وانساني).png|50 fils 1982, reverse |
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</gallery> |
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{| class="wikitable" style="font-size: 90%" |
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! Value !! Diameter !! Weight !! Composition !! Obverse !! Reverse |
! Value !! Diameter !! Weight !! Composition !! Obverse !! Reverse |
||
|- {{Coin-copper-color}} |
|- {{Coin-copper-color}} |
||
| IQD 25 |
|||
| 25 dinars |
|||
| 17.4 mm<ref name="krause">{{cite book |editor1-first=George S. |editor1-last=Cuhaj |title=[[Standard Catalog of World Coins|Standard Catalog of World Coins, 2001-Date]] |edition=5th |year=2011 |publisher=[[Krause Publications]] |isbn=978-1-4402-1160-7 |page=253 }}</ref> |
| 17.4 mm<ref name="krause">{{cite book |editor1-first=George S. |editor1-last=Cuhaj |title=[[Standard Catalog of World Coins|Standard Catalog of World Coins, 2001-Date]] |edition=5th |year=2011 |publisher=[[Krause Publications]] |isbn=978-1-4402-1160-7 |page=253 }}</ref> |
||
| 2.5 g<ref name="krause"/> |
| 2.5 g<ref name="krause"/> |
||
| Copper |
| [[Copper]]-plated steel<ref name="krause"/> |
||
| Inscriptions: "Central Bank of Iraq" and "25 dinars" |
| Inscriptions: "Central Bank of Iraq" and "25 dinars" |
||
| Outline map of Iraq |
| Outline map of Iraq with the two rivers |
||
|- {{Coin-yellow-color}} |
|- {{Coin-yellow-color}} |
||
| IQD 50 |
|||
| 50 dinars |
|||
| 22 mm<ref name="krause"/> |
| 22 mm<ref name="krause"/> |
||
| 4.34 g<ref name="krause"/> |
| 4.34 g<ref name="krause"/> |
||
| [[Brass]] |
| [[Brass]]-plated steel<ref name="krause"/> |
||
| Inscriptions: "Central Bank of Iraq" and "50 dinars" |
| Inscriptions: "Central Bank of Iraq" and "50 dinars" |
||
| Outline map of Iraq |
| Outline map of Iraq with the two rivers |
||
|- {{Coin-silver-color}} |
|- {{Coin-silver-color}} |
||
| 100 |
| IQD 100 |
||
| 22 mm<ref name="krause"/> |
| 22 mm<ref name="krause"/> |
||
| 4.3 g<ref name="krause"/> |
| 4.3 g<ref name="krause"/> |
||
| [[Stainless steel]]<ref name="krause"/> |
| [[Stainless steel]]<ref name="krause"/> |
||
| Inscriptions: "Central Bank of Iraq" and "100 dinars" |
| Inscriptions: "Central Bank of Iraq" and "100 dinars" |
||
| Outline map of Iraq |
| Outline map of Iraq with the two rivers |
||
|} |
|} |
||
==Banknotes== |
==Banknotes== |
||
[[File:5dinar.jpg|thumb| |
[[File:5dinar.jpg|thumb|right|560px|A IQD 5 banknote depicting former Iraqi President [[Saddam Hussein]].]] |
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[[File:Counterfeit 25,000 Iraqi Dinar banknote, supposed to be of 2010. Bad forgery.jpg|thumb|Counterfeit IQD 25,000 banknote, supposed to be of the 2010 series.]] |
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On 16 March 1932, [[banknotes]] were issued by the government in denominations of {{frac|1|4}}, {{frac|1|2}}, 1, 5, 10 and 100 dinars. The notes were printed in the United Kingdom by Bradbury, Wilkinson & Co.<ref>{{cite book | last1 = Linzmayer | first1 = Owen | title = The Banknote Book | chapter = Iraq | publisher = Banknote News | year = 2012 | location = San Francisco, CA | url = http://www.banknotenews.com/banknote_book/banknote_book.php}}</ref> From 1932 to 1947, the banknotes were issued by the Iraqi currency board for the government of Iraq and banknotes were convertible into pound sterling. From 1947, the banknotes were issued by the [[National Bank of Iraq]], then after 1954 by the [[Central Bank of Iraq]]. |
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100 dinars notes ceased production in the 1940s, however, the same denominations were used until 1978, when IQD 25 notes were introduced. In 1991, IQD 50 were introduced and IQD 100 reintroduced, followed in 1995 by IQD 250 notes and IQD 10,000 notes in 2002. |
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In 1931, [[banknotes]] were issued by the government in denominations of {{Frac|4}}, {{Frac|2}}, 1, 5, 10 and 100 dinars. The notes were printed in the United Kingdom by Bradbury, Wilkinson & Co.<ref>{{cite book | last1 = Linzmayer | first1 = Owen | title = The Banknote Book | chapter = Iraq | publisher = www.BanknoteNews.com | year = 2012 | location = San Francisco, CA | url = http://www.banknotenews.com/banknote_book/banknote_book.php}}</ref> From 1931 to 1947, the banknotes were issued by the Iraqi currency board for the government of Iraq and banknotes were convertible into pound sterling. From 1947, the banknotes were issued by the [[National Bank of Iraq]], then after 1954 by the [[Central Bank of Iraq]]. |
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Banknotes that were issued between 1990 and October 2003, along with an IQD 25 note issued in 1986, bear an idealized engraving of former Iraqi President [[Saddam Hussein]]. Following the 1991 Gulf War, Iraq's currency was printed both locally and in China, using poor grade [[wood pulp]] paper (rather than cotton or [[linen]]) and inferior quality [[lithography]] (some notes were reputedly printed on presses designed for printing newspapers). |
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100 dinars notes ceased production in the 1940s, however, the same denominations were used until 1978, when 25 dinars notes were introduced. In 1991, 50 dinars were introduced and 100 dinars reintroduced, followed in 1995 by 250 dinar notes and 10,000 dinars notes in 2002. |
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The primitive printing techniques resulted in a limitless variety in coloration and detail, one layer of the printing would be too faint while another would be too dark. [[Counterfeit]] banknotes often appeared to be of better quality than real notes{{citation needed|date=August 2011}}. Some notes were very poorly cut, and some notes even lacked serial numbers. Despite the collapse in the value of the Iraqi dinar, the highest denomination printed until 2002 was IQD 250. In 2002, the [[Central Bank of Iraq]] issued an IQD 10,000 banknote to be used for "larger, and inter-bank transactions". This note was rarely accepted in practice due to fears of looting and counterfeiting. This forced people to carry around stacks of IQD 250 note for everyday use. The other, smaller notes were so worthless that they largely fell into disuse. This situation meant that Iraq, for the most part, had only one denomination of currency in wide circulation. |
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Banknotes that were issued between 1990 and October 2003, along with a 25-dinar note issued in 1986, bear an idealized engraving of former Iraqi President [[Saddam Hussein]]. Following the 1991 Gulf War, Iraq's currency was printed both locally and in China, using poor grade [[wood pulp]] paper (rather than cotton or [[linen]]) and inferior quality [[lithography]] (some notes were reputedly printed on presses designed for printing newspapers). |
|||
Currency printed before the Gulf War was often called the ''[[Iraqi Swiss dinar|Swiss dinar]]'', a term of obscure and uncertain origins. These notes were manufactured in England by [[De La Rue]] and were of significantly higher quality than those later produced under the economic sanctions that were imposed after the first Gulf War. After a change-over period, this currency was unendorsed by the Iraqi government. However, this old currency still circulated in Kurdish-populated parts of northern Iraq until it was replaced with the new dinar after the second Gulf War. During this time the Swiss dinar retained its value, whilst the new currency consistently lost value at sometimes 30% per annum. |
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The primitive printing techniques resulted in a limitless variety in coloration and detail, one layer of the printing would be too faint while another would be too dark. [[Counterfeit]] banknotes often appeared to be of better quality than real notes{{citation needed|date=August 2011}}. Some notes were very poorly cut, and some notes even lacked serial numbers. Despite the collapse in the value of the Iraqi dinar, the highest denomination printed until 2002 was 250 dinars. In 2002, the [[Central Bank of Iraq]] issued a 10,000-dinars banknote to be used for "larger, and inter-bank transactions". This note was rarely accepted in practice due to fears of looting and counterfeiting. This forced people to carry around stacks of 250-dinars notes for everyday use. The other, smaller bills were so worthless that they largely fell into disuse. This situation meant that Iraq, for the most part, had only one denomination of banknote in wide circulation. |
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In 2003, new banknotes were issued consisting of six denominations: IQD 50, IQD 250, IQD 1,000, IQD 5,000, IQD 10,000, and IQD 25,000. The notes were similar in design to notes issued by the [[Central Bank of Iraq]] (CBI) in the 1970s and 1980s. An IQD 500 note was issued a year later, in October 2004. In the [[Kurdistan Region]], the IQD 50 note is not in circulation. |
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Currency printed before the Gulf War was often called the ''[[Iraqi Swiss dinar|Swiss dinar]]''. It got its name from the Swiss printing technology that produced banknotes of a considerably higher quality than those later produced under the economic sanctions that were imposed after the first Gulf War. After a change-over period, this currency was disendorsed by the Iraqi government. However, this old currency still circulated in the [[Iraqi Kurdistan|Kurdish regions of Iraq]] until it was replaced with the new dinar after the second Gulf War. During this time the Swiss dinar retained its value, whilst the new currency consistently lost value at sometimes 30 percent per annum. |
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In March 2014, the CBI began replacing banknotes with anti-counterfeiting enhanced versions that include SPARK optical security features, scanner readable guarantee threads in addition to braille embossing to assist vision-impaired persons.<ref name="New Iraqi dinar banknotes feature stronger security features">{{cite web|url=http://www.iraqinews.com/business-iraqi-dinar/new-iraqi-dinar-banknotes-feature-stronger-security-features/|title=New Iraqi Dinar banknotes feature stronger security features|date=11 May 2014|access-date=22 August 2018}}</ref><ref>[http://banknotenews.com/files/fdcdfed60da6589301016d65b59dbed9-3067.php Iraq new 250- and 500-dinar notes confirmed] Banknote News. 6 October 2014. Retrieved on 2014-11-30.</ref><ref>[http://banknotenews.com/files/f4ca078929b5e603456cbe10fd470890-3189.php Iraq new 1,000-dinar note confirmed] Banknote News. 5 October 2014. Retrieved on 2014-11-30.</ref><ref>[http://banknotenews.com/files/14f1bb898f06b6a85f4b4e5d2d3f90d5-3237.php Iraq new 5,000- and 25,000-dinar notes confirmed] Banknote News. 29 November 2014. Retrieved on 2014-11-30.</ref> |
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In 2003, new banknotes were issued consisting of six denominations: 50, 250, 1,000, 5,000, 10,000, and 25,000 dinars. The notes were similar in design to notes issued by the [[Central Bank of Iraq]] in the 1970s and 1980s. A 500 dinars note was issued a year later, in October 2004. In the Kurdish regions of Iraq, the 50 dinar note is not in circulation. |
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In February 2015, the CBI announced the removal from circulation on 30 April 2015 of the IQD 50 notes. Persons holding these banknotes were advised to immediately redeem them at their nearest bank for the IQD 250 and higher denomination dinar notes at a one-to-one rate at no charge.<ref name="Central Bank Of Iraq To Remove 50 Dinar Banknotes From Circulation On April 30, 2015">{{cite web|url=http://marketersmedia.com/central-bank-of-iraq-to-remove-50-dinar-banknotes-from-circulation-on-april-30-2015/76121|title=Central Bank Of Iraq To Remove 50 Dinar Banknotes From Circulation On April 30, 2015 «|website=marketersmedia.com|access-date=22 August 2018}}</ref> |
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In March 2014, the [[Central Bank of Iraq]] began replacing banknotes with anti-counterfeiting enhanced versions that include SPARK optical security features, scanner readable guarantee threads in addition to braille embossing to assist vision-impaired persons.<ref name="New Iraqi dinar banknotes feature stronger security features">[http://www.iraqinews.com/business-iraqi-dinar/new-iraqi-dinar-banknotes-feature-stronger-security-features/ New Iraqi Dinar banknotes feature stronger security features, May 11, 2014]</ref><ref>[http://banknotenews.com/files/fdcdfed60da6589301016d65b59dbed9-3067.php Iraq new 250- and 500-dinar notes confirmed] BanknoteNews.com. 6 October 2014. Retrieved on 2014-11-30.</ref><ref>[http://banknotenews.com/files/f4ca078929b5e603456cbe10fd470890-3189.php Iraq new 1,000-dinar note confirmed] BanknoteNews.com. 5 October 2014. Retrieved on 2014-11-30.</ref><ref>[http://banknotenews.com/files/14f1bb898f06b6a85f4b4e5d2d3f90d5-3237.php Iraq new 5,000- and 25,000-dinar notes confirmed] BanknoteNews.com. 29 November 2014. Retrieved on 2014-11-30.</ref> |
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In November 2015, the CBI announced the introduction of a new IQD 50,000 banknote. This is the first new denomination banknote since the new series was first issued in 2003, and also the largest ever printed by the CBI. The current notes no longer depict [[Saddam Hussein]] and now feature inscriptions in Arabic, English and Kurdish.<ref name=" Central Bank Of Iraq Introduces New 50,000 Iraqi Dinar Banknotes Into Circulation ">{{cite web |url=http://dinarrvnews.net/new-50000-iqd-banknotes-released/ |last=Giammarino |first=Nick |title=Newly Released 50000 Iraqi Dinar Banknotes Released|website=Iraqi Dinar RV News |date=13 November 2015|access-date=22 August 2018}}</ref> The banknotes are printed using new security features from [[Giesecke & Devrient]] & [[De La Rue]] and measure 156 × 65 mm. They feature an outline map of Iraq showing the [[Euphrates]] & [[Tigris]] rivers as well as the [[Great Mosque of Samarra]] and the head of a purebred [[Arabian horse]] as a watermark. |
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In February 2015, the [[Central Bank of Iraq]] announced on their website the removal of the 50-dinar notes from circulation on 30 April 2015. Citizens holding these banknotes were immediately advised to redeem them at their nearest bank for the 250 and higher denomination dinar notes at a one-to-one rate at no charge.<ref name="Central Bank Of Iraq To Remove 50 Dinar Banknotes From Circulation On April 30, 2015">[http://marketersmedia.com/central-bank-of-iraq-to-remove-50-dinar-banknotes-from-circulation-on-april-30-2015/76121 2015 Central Bank Of Iraq To Remove 50 Dinar Banknotes From Circulation On April 30, 2015]</ref> |
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In 2018, the [[Central Bank of Iraq]] (CBI) released new designs for the 25,000, 10,000, 1,000, 500, and 250 dinar notes. However, the most notable change was with the 1,000-dinar note, which was redesigned after social media users noticed that Surah [[Al-Ikhlas]] was written in the center of its front side. In the new design, the Surah was replaced by the [[Assyrian flag]].<ref>{{Cite web |title=Central Bank of Iraq unveils new 1000 dinar banknote featuring Assyrian star |url=https://www.rudaw.net/notfound.html |access-date=2024-09-06 |website=www.rudaw.net}}</ref><ref>{{Cite web |title=Iraq releases first notes since 2003 |url=https://www.coinworld.com/news/paper-money/iraq-releases-first-notes-since-2003.html |access-date=2024-09-06 |website=CoinWorld |language=en}}</ref> Surah Al-Ikhlas is also written on the right side of the front of the 25,000-dinar note, and it remains in the new design. |
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In November 2015, the Central Bank of Iraq announced the introduction of a new 50,000-dinar banknote. This is the first new denomination banknote since the new series was started in 2003, and also the largest ever printed by the CBI. The current notes no longer depict the picture of [[Saddam Hussein]] and now feature both the Arabic and [[Kurdish languages]].<ref name=" Central Bank Of Iraq Introduces New 50,000 Iraqi Dinar Banknotes Into Circulation ">[http://dinarrvnews.net/new-50000-iqd-banknotes-released/ Central Bank Of Iraq Introduces New 50,000 Iraqi Dinar Banknotes Into Circulation]</ref> The banknotes are printed using new security features from [[Giesecke & Devrient]] & [[De La Rue]] and measure 156 × 65 mm. They feature an outline map of Iraq showing the [[Euphrates]] & [[Tigris]] rivers as well as the [[Great Mosque of Samarra]]. |
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Investing in the Iraqi dinar (IQD) represents a high-risk financial strategy that attracts [[speculation|speculative investors]] hoping for potential future currency appreciation. The investment involves purchasing Iraqi dinars with U.S. dollars, based on speculation about Iraq's potential economic recovery. |
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The Iraqi dinar's value is strictly controlled by [[Federal government of Iraq|the Iraqi government]] and does not freely float on global forex markets. This means that even if Iraq's economic conditions improve, the currency may not automatically increase in value. Investors face numerous significant challenges, including extremely limited trading volume, high transaction fees that can reach up to 20%, and widespread scams within the currency exchange market. |
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Financial experts consistently warn about the risks associated with dinar investments. The currency's value remains heavily dependent on Iraq's complex political landscape, ongoing economic instability, and fluctuating oil prices. Despite Iraq's substantial oil reserves, which could potentially support future economic growth, purchasing dinars is not considered a reliable investment strategy. |
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Alternative investment methods, such as investing directly in Iraqi stocks or companies, are generally recommended as more transparent and potentially more profitable approaches to engaging with Iraq's economic potential. The currency's fixed exchange rate and restricted trading options make it an particularly unattractive investment for international investors. |
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As of September 2024, one U.S. dollar remains worth approximately 1,310.6 Iraqi dinars, underscoring the currency's current limited international value and speculative nature.<ref>https://www.investopedia.com/articles/forex/081314/iraqi-dinar-investment-wise-investment.asp</ref> |
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=== |
===Kingdom of Iraq dinar series (1932–1939)=== |
||
{|class="wikitable |
{| class="wikitable sortable style="font-size: 90%" |
||
|+ |
|||
!colspan=6| Swiss Dinar |
|||
! colspan="6" | Kingdom Dinar Series |
|||
|- |
|||
! colspan="2" | Image !! rowspan="2" | Value !! rowspan="2" | Main Color !! colspan="2" | Description |
|||
|- |
|||
! Obverse !! Reverse !! Obverse !! Reverse |
|||
|- bgcolor="" |
|||
| [[File:1 4IQD1932front.jpg|100x100px]] |
|||
| [[File:1 4IQD1932back.jpg|100x100px]] |
|||
| IQD {{frac|1|4}} |
|||
(1932) |
|||
| Green and black |
|||
| [[Faisal I of Iraq|King Faisal I]] |
|||
| |
|||
|- bgcolor="" |
|||
|[[File:1 2IQD1932front.jpg|100x100px]] |
|||
|[[File:1 2IQD1932back.jpg|100x100px]] |
|||
| IQD {{frac|1|2}} |
|||
(1932) |
|||
| Red and black |
|||
| [[Faisal I of Iraq|King Faisal I]] |
|||
| |
|||
|- bgcolor="" |
|||
|[[File:1IQD1932front.jpg|100x100px]] |
|||
|[[File:1IQD1932back.jpg|100x100px]] |
|||
| IQD 1 |
|||
(1932) |
|||
| Black and dark brown |
|||
| [[King Faisal I]] |
|||
| |
|||
|- |
|||
|[[File:1IQDking1939front.jpg|100x100px]] |
|||
|[[File:1IQDking1939back.jpg|100x100px]] |
|||
|IQD 1 |
|||
(1939) |
|||
|Green and dark brown |
|||
|[[Faisal II of Iraq|King Faisal II]] as a child |
|||
|Kingdom [[Coat of arms of Iraq|Coat of arms]] with 1 dinar written inside |
|||
|- bgcolor="" |
|||
|[[File:5IQD1932front.jpg|100x100px]] |
|||
|[[File:5IQD1932back.jpg|100x100px]] |
|||
| IQD 5 |
|||
(1932) |
|||
| Red and black |
|||
| [[King Faisal I]] |
|||
| |
|||
|- bgcolor="" |
|||
|[[File:10IQD1932front.jpg|100x100px]] |
|||
|[[File:10IQD1932back.jpg|100x100px]] |
|||
| IQD 10 |
|||
(1932) |
|||
| Dark brown and purple |
|||
| [[King Faisal I]] |
|||
| |
|||
|- bgcolor="" |
|||
| [[File:100IQD1932front.jpg|100x100px]] |
|||
| [[File:100IQD1932back.jpg|100x100px]] |
|||
| IQD 100 |
|||
(1932) |
|||
| Yellow red and black |
|||
| [[King Faisal I]] |
|||
| |
|||
|- bgcolor="" |
|||
| [[File:100IQD1939front.jpg|100x100px]] |
|||
| [[File:100IQD1939back.jpg|100x100px]] |
|||
| IQD 100 |
|||
(1939) |
|||
| Yellow Green and black |
|||
| [[King Faisal II]] as a child |
|||
| |
|||
|} |
|||
===Swiss dinar series (1979–1986)=== |
|||
{| class="wikitable" style="font-size: 90%" |
|||
! colspan="6" |Swiss Dinar Series |
|||
|- |
|- |
||
!colspan=2| Image !!rowspan=2| Value !!rowspan=2| Main Color !!colspan=2| Description |
!colspan=2| Image !!rowspan=2| Value !!rowspan=2| Main Color !!colspan=2| Description |
||
Line 115: | Line 209: | ||
| |
| |
||
| |
| |
||
| {{ |
| IQD {{frac|1|4}} |
||
| Green |
| Green |
||
| silo of basra |
| silo of basra |
||
Line 122: | Line 216: | ||
| |
| |
||
| |
| |
||
| {{ |
| IQD {{frac|1|2}} |
||
| Brown |
| Brown |
||
| [[Astrolabe|the Arabic astrolabe]] |
| [[Astrolabe|the Arabic astrolabe]] |
||
| Spiral minaret of the [[Great Mosque of Samarra]] |
| Spiral minaret of the [[Great Mosque of Samarra]] |
||
|- bgcolor="" |
|- bgcolor="" |
||
| |
|||
|[[File:1IQDfront.jpg|100x100px]] |
|||
| |
|||
|[[File:1IQDback.jpg|100x100px]] |
|||
| IQD 1 |
|||
| 1 dinar |
|||
| Blue-green |
| Blue-green |
||
| A gold dinar coin |
| A gold dinar coin |
||
Line 136: | Line 230: | ||
| |
| |
||
| |
| |
||
| IQD 5 |
|||
| 5 dinars |
|||
| Brown-violet and deep blue |
| Brown-violet and deep blue |
||
| [[Geli Ali Beg Waterfall|Gelî Ali Beg]] and its waterfall |
| [[Geli Ali Beg Waterfall|Gelî Ali Beg]] and its waterfall |
||
| [[Al-Ukhaidir Fortress]] |
| [[Al-Ukhaidir Fortress]] |
||
|- bgcolor="" |
|- bgcolor="" |
||
| |
|||
|[[File:10IQDfront.jpg|100x100px]] |
|||
| |
|||
|[[File:10IQDback.jpg|100x100px]] |
|||
| IQD 10 |
|||
| 10 dinars |
|||
| Purple on blue and violet |
| Purple on blue and violet |
||
| [[Ibn al-Haytham|Abu Ali Hasan Ibn al-Haitham]] |
| [[Ibn al-Haytham|Abu Ali Hasan Ibn al-Haitham]] |
||
| Al-manara al-hadba fi al-Mawsil (the hunchbacked tower of the [[Great Mosque of al-Nuri (Mosul)|Great Mosque of al-Nuri]]) |
| Al-manara al-hadba fi al-Mawsil (the hunchbacked tower of the [[Great Mosque of al-Nuri (Mosul)|Great Mosque of al-Nuri]]) |
||
|- bgcolor="" |
|- bgcolor="" |
||
| |
|||
| [[File:25IQDfront.jpg|100x100px]] |
|||
| |
|||
| [[File:25IQDback.jpg|100x100px]] |
|||
| IQD 25 |
|||
| 25 dinars |
|||
| Green and brown |
| Green and brown |
||
| Horses |
| Horses |
||
| [[Abbasid architecture|Abbasid Palace]] |
| [[Abbasid architecture|Abbasid Palace]] |
||
|- bgcolor="" |
|- bgcolor="" |
||
| |
|||
|[[File:Series 1986 iraqi 25 dinar obverse.jpg|100px]] |
|||
| |
|||
|[[File:Series 1986 iraqi 25 dinar reverse.jpg|100px]] |
|||
| 25 |
| IQD 25 (1986) |
||
| Brown, green and black on blue |
| Brown, green and black on blue |
||
| [[Saddam Hussein]] with Battle of al-Qādisiyyah in background |
| [[Saddam Hussein]] with Battle of al-Qādisiyyah in background |
||
Line 163: | Line 257: | ||
|} |
|} |
||
===1990–2003 |
===1990–2003 series=== |
||
{|class="wikitable" style="font-size: 90%" |
{| class="wikitable" style="font-size: 90%" |
||
!colspan=6| 1990–2002 Series |
!colspan=6| 1990–2002 Series |
||
|- |
|- |
||
Line 172: | Line 266: | ||
! Obverse !! Reverse !! Obverse !! Reverse |
! Obverse !! Reverse !! Obverse !! Reverse |
||
|- |
|- |
||
| [[File:Quarter dinar front.jpg|100px]] |
|<!-- Deleted image removed: [[File:Quarter dinar front.jpg|100px]] --> |
||
| [[File:Quater dinar back.jpg|100px]] |
|<!-- Deleted image removed: [[File:Quater dinar back.jpg|100px]] --> |
||
| {{ |
| IQD {{frac|1|4}} (1993) |
||
| Green |
| Green |
||
| [[Date palm|Palm trees]] |
| [[Date palm|Palm trees]] |
||
| Al-Bab al-wastaniy li-sur Baghdad (middle gate of the town wall of Baghdad) |
| Al-Bab al-wastaniy li-sur Baghdad (middle gate of the town wall of Baghdad) |
||
|- |
|- |
||
| [[File:Half Dinar front.jpg|100px]] |
|<!-- Deleted image removed: [[File:Half Dinar front.jpg|100px]] --> |
||
| [[File:Half Dinar back.jpg|100px]] |
|<!-- Deleted image removed: [[File:Half Dinar back.jpg|100px]] --> |
||
| {{ |
| IQD {{frac|1|2}} (1993) |
||
| Violet |
| Violet |
||
| [[Astrolabe]] |
| [[Astrolabe]] |
||
Line 187: | Line 281: | ||
|- |
|- |
||
| |
| |
||
| |
| |
||
| 1 |
| IQD 1(1992) |
||
| Pink and green |
| Pink and green |
||
| [[Gold dinar|A gold dinar coin]] |
| [[Gold dinar|A gold dinar coin]] |
||
| [[Mustansiriya Madrasah]] |
| [[Mustansiriya Madrasah]] |
||
|- |
|- |
||
| [[File: |
| [[File:5dinar.jpg|100px]] |
||
| |
|||
| [[File:5IQD1992back.jpg|100x100px]] |
|||
| IQD 5 (1990; not issued) |
|||
| 5 dinars (1992) |
|||
| Light red and pink |
|||
| [[Saddam Hussein]], buildings at Hatra, statuette of Ur-Nammu (2111 to 2094 BC), King of Ur |
|||
| House (''Mudhif'') built by the marsh Arabs, or the Ma’dan, in southern Iraq, frieze from the Sumero-Akkadian period, eagle, found at Hatra, Sumerian weight stone ("duck weight"), golden head of a bull, decorating the front of a lyre covered with inlays |
|||
|- |
|||
| |
|||
| |
|||
| IQD 5 (1992) |
|||
| Red |
| Red |
||
| [[Saddam Hussein]] |
| [[Saddam Hussein]] |
||
| [[The Monument to the Unknown Soldier]], King [[Hammurabi]] with the sun god [[Shamash]] |
| [[The Monument to the Unknown Soldier]], King [[Hammurabi]] with the sun god [[Shamash]] |
||
|- |
|- |
||
| |
|||
| [[File:10IQD1992front.jpg|100x100px]] |
|||
| |
|||
| [[File:10IQD1992back.jpg|100x100px]] |
|||
| IQD 10 (1990; not issued) |
|||
| 10 dinars (1992) |
|||
| Blue |
|||
| [[Saddam Hussein]], palm trees, scene of the Tigris River |
|||
| King Ashur-bani-pal galloping forward with bow and arrow, 645–635 BC |
|||
|- |
|||
| |
|||
| |
|||
| IQD 10 (1992) |
|||
| Blue-green |
| Blue-green |
||
| [[Saddam Hussein]] and [[Ishtar Gate|Ishtar gate]] |
| [[Saddam Hussein]] and [[Ishtar Gate|Ishtar gate]] |
||
| [[Lamassu|Lamassu, Assyrian carving of a winged bull]] |
| [[Lamassu|Lamassu, Assyrian carving of a winged bull]] |
||
|- |
|- |
||
| |
|||
| |
| |
||
| IQD 25 (1990) |
|||
| |
|||
| 25 dinars (1990) |
|||
| Green |
| Green |
||
| Horses |
| Horses |
||
| [[Abbasid architecture|Abbasid Palace]] |
| [[Abbasid architecture|Abbasid Palace]] |
||
|- |
|- |
||
| |
|||
| [[File:25IQD1986front.jpg|100x100px]] |
|||
| |
|||
| [[File:25IQD1986back.jpg|100x100px]] |
|||
| 25 |
| IQD 25 (1986) |
||
| Green-brown |
| Green-brown |
||
| [[Saddam Hussein]] & |
| [[Saddam Hussein]] & Battle of Qadisiyah |
||
| [[Al-Shaheed Monument]] |
| [[Al-Shaheed Monument]] |
||
|- |
|- |
||
| |
|[[File:25dinar side1.jpg|100px]] |
||
| |
|[[File:25dinar side2.jpg|100px]] |
||
| 25 |
| IQD 25 (2001) |
||
| Green |
| Green |
||
| [[Saddam Hussein]] |
| [[Saddam Hussein]] |
||
| [[Ishtar gate]] |
| [[Ishtar gate]] / [[Lion of Babylon (statue)]] |
||
|- |
|- |
||
| |
| |
||
| |
| |
||
| 50 |
| IQD 50 (1991) |
||
| Pink and green |
| Pink and green |
||
| [[Saddam Hussein]] |
| [[Saddam Hussein]] |
||
| [[Great Mosque of Samarra]] |
| [[Great Mosque of Samarra]] |
||
|- |
|- |
||
| |
|||
| [[File:50IQD1994front.jpg|100x100px]] |
|||
| |
|||
| [[File:50IQD1994back.jpg|100x100px]] |
|||
| 50 |
| IQD 50 (1994) |
||
| Brown and blue |
| Brown and blue |
||
| [[Saddam Hussein]] and the [[Al-Shaheed Monument]] |
| [[Saddam Hussein]] and the [[Al-Shaheed Monument]] |
||
| Saddam Bridge |
| Saddam Bridge |
||
|- |
|- |
||
| |
|||
|[[File:100IQD1991front.jpg|100x100px]] |
|||
| |
|||
|[[File:100IQD1991back.jpg|100x100px]] |
|||
| 100 |
| IQD 100 (1991) |
||
| Green and purple |
| Green and purple |
||
| [[Saddam Hussein]] |
| [[Saddam Hussein]] |
||
| [[Victory Arch|Hands of Victory (Swords of Qādisīyah)]] |
| [[Victory Arch|Hands of Victory (Swords of Qādisīyah)]] |
||
|- |
|- |
||
| |
|||
|[[File:100IQD1994front.jpg|100x100px]] |
|||
| |
|||
|[[File:100IQD1994back.jpg|100x100px]] |
|||
| 100 |
| IQD 100 (1994) |
||
| Blue |
| Blue |
||
| [[Saddam Hussein]] and the [[Al-Ukhaidir Fortress|Hisn al-Ukhaydir (Al-Ukhaidir Fortress]] |
| [[Saddam Hussein]] and the [[Al-Ukhaidir Fortress|Hisn al-Ukhaydir (Al-Ukhaidir Fortress)]] |
||
| [[Baghdad Clock]] |
| [[Baghdad Clock]] |
||
|- |
|- |
||
| |
|||
|[[File:100IQD2002front.jpg|100x100px]] |
|||
| |
|||
|[[File:100IQD2002back.jpg|100x100px]] |
|||
| 100 |
| IQD 100 (2002) |
||
| Blue |
| Blue |
||
| [[Saddam Hussein]] |
| [[Saddam Hussein]] |
||
| Old Baghdad |
| Old Baghdad |
||
|- |
|- |
||
|[[File:Iraqi 250 dinar 1995 front.jpg|100px]] |
|||
| |
|||
|[[File:Iraqi 250 dinar 1995 reverse side.jpg|100px]] |
|||
| |
|||
| 250 |
| IQD 250 (1995) |
||
| Violet |
| Violet |
||
| [[Saddam Hussein]] and the Qadisiya hydroelectric dam |
| [[Saddam Hussein]] and the Qadisiya hydroelectric dam |
||
| [[ |
| [[Freedom Monument (Baghdad)|Liberty Monument]], Baghdad |
||
|- |
|- |
||
| |
|||
|[[File:250IQD2002front.jpg|100x100px]] |
|||
| |
|||
|[[File:250IQD2002back.jpg|100x100px]] |
|||
| 250 |
| IQD 250 (2002) |
||
| Violet |
| Violet |
||
| [[Saddam Hussein]] |
| [[Saddam Hussein]] |
||
| [[Dome of the Rock]] |
| [[Dome of the Rock]] |
||
|- |
|- |
||
| |
|||
|[[File:10000IQD2002front.jpg|100x100px]] |
|||
| |
|||
|[[File:10000IQD2002back.jpg|100x100px]] |
|||
| IQD 500 (1995; not issued) |
|||
| 10,000 dinars (2002) |
|||
| Light pink |
|||
| Pink / violet |
|||
| [[Saddam Hussein]], Baghdad tower (previously International Saddam Tower) |
|||
| Bridge of 14 July over Tigris River, Baghdad |
|||
|- |
|||
| |
|||
| |
|||
| IQD 10,000 (2002) |
|||
| Pink and violet |
|||
| [[Saddam Hussein]], [[The Monument to the Unknown Soldier]] |
| [[Saddam Hussein]], [[The Monument to the Unknown Soldier]] |
||
| [[Mustansiriya Madrasah]], Arabic astrolabe |
| [[Mustansiriya Madrasah]], Arabic astrolabe |
||
|- |
|||
|} |
|} |
||
===2003–present=== |
===2003–present=== |
||
{|class="wikitable" style="font-size: 90%" |
{| class="wikitable" style="font-size: 90%" |
||
!colspan=6| 2003 Series |
!colspan=6| 2003 Series |
||
|- |
|- |
||
Line 293: | Line 409: | ||
|- |
|- |
||
! Obverse !! Reverse !! Obverse !! Reverse |
! Obverse !! Reverse !! Obverse !! Reverse |
||
|- |
|||
|- bgcolor="#aa6caa" |
|||
| [[File:50dinarsfront (Small).jpg|100px|50 dinars]] |
| [[File:50dinarsfront (Small).jpg|100px|50 dinars]] |
||
| [[File:50dinarsback (Small).jpg|100px|50 dinars]] |
| [[File:50dinarsback (Small).jpg|100px|50 dinars]] |
||
| IQD 50 |
|||
| 50 dinars |
|||
| Purple |
| Purple |
||
| Grain silos at Basra |
| Grain silos at Basra |
||
| [[Date palm |
| [[Date palm]]s |
||
|- |
|||
|- bgcolor="99a3ce" |
|||
| |
|||
|[[File:250IQDfront.jpg|100x100px]] |
|||
| |
|||
|[[File:250IQDback.jpg|100x100px]] |
|||
| 250 |
| IQD 250 |
||
| Blue |
| Blue |
||
| An [[Astrolabe]] |
| An [[Astrolabe]] |
||
| Spiral minaret of the [[Great Mosque of Samarra]] |
| Spiral minaret of the [[Great Mosque of Samarra]] |
||
|- |
|||
|- bgcolor="#32CD99" |
|||
| |
|||
|[[File:500IQDfront.jpg|100x100px]] |
|||
| |
|||
|[[File:500IQDback.jpg|100x100px]] |
|||
| 500 |
| IQD 500 |
||
| Blue-green |
| Blue-green |
||
| [[Dukan Dam]] on the [[Little Zab]] river |
| [[Dukan Dam]] on the [[Little Zab]] river |
||
| [[Lamassu]], Assyrian carving of a winged bull |
| [[Lamassu]], Assyrian carving of a winged bull |
||
|- |
|||
|- bgcolor="e7c6a5" |
|||
| |
|||
|[[File:1000IQDfront.jpg|100x100px]] |
|||
| |
|||
|[[File:1000IQDback.jpg|100x100px]] |
|||
| 1,000 |
| IQD 1,000 |
||
| Brown |
| Brown |
||
| A [[Gold dinar|gold dinar coin]] |
| A [[Gold dinar|gold dinar coin]] |
||
| [[Mustansiriya Madrasah]], Baghdad |
| [[Mustansiriya Madrasah]], Baghdad |
||
|- |
|||
|- bgcolor="#009acd" |
|||
| |
|||
|[[File:5000IQDfront.jpg|100x100px]] |
|||
| |
|||
|[[File:5000IQDback.jpg|100x100px]] |
|||
| 5,000 |
| IQD 5,000 |
||
| Dark blue |
| Dark blue |
||
| [[Geli Ali Beg Waterfall|Gelî Ali Beg and its waterfall]] |
| [[Geli Ali Beg Waterfall|Gelî Ali Beg and its waterfall]] |
||
| [[Al-Ukhaidir Fortress]] |
| [[Al-Ukhaidir Fortress]] |
||
|- |
|||
|- bgcolor="#00cd66" |
|||
| |
|||
| [[File:10000IQDfront.jpg|100x100px]] |
|||
| |
|||
| [[File:10000IQDback.jpg|100x100px]] |
|||
| 10,000 |
| IQD 10,000 |
||
| Green |
| Green |
||
| [[Ibn al-Haytham|Abu Ali Hasan Ibn al-Haitham]] |
| [[Ibn al-Haytham|Abu Ali Hasan Ibn al-Haitham]] |
||
| [[Great Mosque of al-Nuri (Mosul)]] |
| [[Great Mosque of al-Nuri (Mosul)]] |
||
|- |
|||
|- bgcolor="ed5e66" |
|||
|| |
|||
|[[File:25000IQDfront.jpg|100x100px]] |
|||
| |
|||
|[[File:25000IQDback.jpg|100x100px]] |
|||
| 25,000 |
| IQD 25,000 |
||
| Red |
| Red |
||
| |
| An Iraqi farmer holding a sheaf of wheat, a tractor and a [[Gold dinar|gold dinar coin]] |
||
| Carving of the [[Code of Hammurabi|Code of King Hammurabi]] |
| Carving of the [[Code of Hammurabi|Code of King Hammurabi]] |
||
|} |
|} |
||
{|class="wikitable" style="font-size: 90%" |
{| class="wikitable" style="font-size: 90%" |
||
!colspan= |
! colspan="4" |2013–2015 Series |
||
|- |
|- |
||
! |
! rowspan="2" | Value !!rowspan=2| Main Color !!colspan=2| Description |
||
|- |
|- |
||
! Obverse !! Reverse |
|||
|- |
|||
|- bgcolor="#00cd66" |
|||
| IQD 10,000 |
|||
| [[File:New10000IQDfront.jpg|100x100px]] |
|||
| [[File:New10000IQDback.jpg|100x100px]] |
|||
| 10,000 dinars |
|||
| Green |
| Green |
||
| Sculptor [[Jawad Saleem]]'s [[Liberation Square, Baghdad|Monument of Liberation Square]] (''Nasb al-Hurriyah'') in Baghdad |
| Sculptor [[Jawad Saleem]]'s [[Liberation Square, Baghdad|Monument of Freedom at Liberation Square]] (''Nasb al-Hurriyah'') in Baghdad |
||
| [[Great Mosque of al-Nuri (Mosul)|Al-manara al-hadba fi al-Mawsil (the hunchbacked tower of the Great Nurid mosque in Mosul)]] |
| [[Great Mosque of al-Nuri (Mosul)|Al-manara al-hadba fi al-Mawsil (the hunchbacked tower of the Great Nurid mosque in Mosul)]] |
||
|- |
|||
|- bgcolor="ed5e66" |
|||
|- |
|||
|[[File:New25000IQDfront.jpg|100x100px]] |
|||
| IQD 25,000 |
|||
|[[File:New25000IQDback.jpg|100x100px]] |
|||
| 25,000 dinars |
|||
| Red |
| Red |
||
| |
| An Iraqi farmer holding a jug, a tractor and a [[Gold dinar|gold dinar coin]] |
||
| Carving of the [[Code of Hammurabi|Code of King Hammurabi]] |
| Carving of the [[Code of Hammurabi|Code of King Hammurabi]] |
||
|- |
|- |
||
|- |
|||
|- bgcolor="e7c6a5" |
|||
| IQD 50,000 |
|||
|[[File:50000IQDfront.jpg|100x100px]] |
|||
|[[File:50000IQDback.jpg|100x100px]] |
|||
| 50,000 dinars |
|||
| Brown |
| Brown |
||
| [[Noria|Water wheel on the Euphrates river]], palm trees, [[Geli Ali Beg Waterfall|Gali Ali Beg waterfall]] |
| [[Noria|Water wheel on the Euphrates river]], palm trees, [[Geli Ali Beg Waterfall|Gali Ali Beg waterfall]] |
||
| Fishermen, [[Ahwar of Southern Iraq|traditional reed house of the Mesopotamian marshes]], rivers Euphrates and Tigris rivers on map |
| Fishermen, [[Ahwar of Southern Iraq|traditional reed house of the Mesopotamian marshes]], rivers Euphrates and Tigris rivers on map |
||
|- |
|||
|} |
|||
{| class="wikitable" style="font-size: 90%" |
|||
! colspan="4" |2018 Series |
|||
|- |
|||
! rowspan="2" | Value !!rowspan=2| Main Color !!colspan=2| Description |
|||
|- |
|||
! Obverse !! Reverse |
|||
|- |
|||
| IQD 1,000 |
|||
| Brown |
|||
| A representation of an Assyrian star, man on a boat, inscription "Enlisting the marshes and Heritage of South Iraq in the World Heritage List" |
|||
| [[Mustansiriya Madrasah]], Baghdad |
|||
|- |
|- |
||
|} |
|} |
||
==Exchange rate== |
==Exchange rate== |
||
{{Exchange rate|IQD}} |
{{Exchange rate|IQD|USD}} |
||
== See also == |
== See also == |
||
Line 382: | Line 507: | ||
* [[Central Bank of Iraq]] |
* [[Central Bank of Iraq]] |
||
* [[Economy of Iraq]] |
* [[Economy of Iraq]] |
||
* [[Iraqi art]] |
|||
* [[Iraqi Swiss dinar]] |
* [[Iraqi Swiss dinar]] |
||
* [[Jordanian dinar]] |
|||
* [[Kuwaiti dinar]] |
* [[Kuwaiti dinar]] |
||
==Notes== |
|||
{{notelist}} |
|||
== References == |
== References == |
||
Line 389: | Line 519: | ||
== External links == |
== External links == |
||
* [ |
* [https://cbi.iq/ Central Bank of Iraq homepage] |
||
* [http://www.cfr.org/iraq/benefits-new-iraqi-dinar/p6203 Council on Foreign Relations: benefits of the new Iraqi dinar] |
* [http://www.cfr.org/iraq/benefits-new-iraqi-dinar/p6203 Council on Foreign Relations: benefits of the new Iraqi dinar] {{Webarchive|url=https://web.archive.org/web/20110523132047/http://www.cfr.org/iraq/benefits-new-iraqi-dinar/p6203 |date=23 May 2011 }} |
||
* [http://www.dfi.wa.gov/consumer/alerts/iraqi-dinar-scams Iraqi Dinar Scam – Washington State Department of Financial Institutions warning] |
* [http://www.dfi.wa.gov/consumer/alerts/iraqi-dinar-scams Iraqi Dinar Scam – Washington State Department of Financial Institutions warning] |
||
* [https://web.archive.org/web/20150206191907/http://www.securities.ok.gov/Press_Releases/PRDetail.asp?ID=74 Iraqi Dinar Scams – Oklahoma Securities Commission warns residents] |
* [https://web.archive.org/web/20150206191907/http://www.securities.ok.gov/Press_Releases/PRDetail.asp?ID=74 Iraqi Dinar Scams – Oklahoma Securities Commission warns residents] |
||
* [https://dmoztools.net/Regional/Middle_East/Iraq/Business_and_Economy/Financial_Services/Currency/ Dmoztools.net – Iraqi Dinar] |
* [https://dmoztools.net/Regional/Middle_East/Iraq/Business_and_Economy/Financial_Services/Currency/ Dmoztools.net – Iraqi Dinar] {{Webarchive|url=https://web.archive.org/web/20170405172357/http://dmoztools.net/Regional/Middle_East/Iraq/Business_and_Economy/Financial_Services/Currency/ |date=5 April 2017 }} |
||
<br /> |
|||
{{Iraq topics}} |
{{Iraq topics}} |
||
{{Dinar}} |
{{Dinar}} |
||
{{Currencies of Asia}} |
{{Currencies of Asia}} |
||
{{Portal bar|Asia|Iraq|Money|Numismatics}} |
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{{Authority control}} |
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{{DEFAULTSORT:Iraqi Dinar}} |
|||
[[Category:Currencies of Iraq]] |
[[Category:Currencies of Iraq]] |
||
[[Category:Economy of Iraq]] |
[[Category:Economy of Iraq]] |
||
[[Category: |
[[Category:Currencies introduced in 1932]] |
||
[[Category:Currencies of Asia]] |
|||
[[Category:Circulating currencies]] |
|||
[[Category:Dinar]] |
Latest revision as of 15:09, 19 December 2024
ISO 4217 | |
---|---|
Code | IQD (numeric: 368) |
Subunit | 0.001 |
Unit | |
Symbol | IQD or د.ع |
Denominations | |
Subunit | |
1⁄1000 | fils[1] |
Banknotes | |
Freq. used | IQD 250, IQD 500, IQD 1,000, IQD 5,000, IQD 10,000, IQD 25,000 |
Rarely used | IQD 50,000 |
Coins | IQD 25, IQD 50, IQD 100 |
Demographics | |
User(s) | Iraq |
Issuance | |
Central bank | Central Bank of Iraq |
Website | www |
Valuation | |
Inflation | 1.79% |
Source | Central Bank of Iraq, May 2015 |
The Iraqi dinar[a] (code: IQD)[2] is the currency of Iraq. The Iraqi dinar is issued by the Central Bank of Iraq (CBI). On 7 February 2023, the exchange rate with the US Dollar was US$1 = 1300 dinars.[3]
History
[edit]The Iraqi dinar entered circulation on 1 April 1932,[4][5][6][7][8] replacing the Indian rupee, which had been the official currency since the British occupation of the country in World War I, at a rate of 1 dinar = 11 rupees. The dinar was pegged at par with sterling until 1959 when, without changing its value, the peg was switched to the United States dollar at the rate of IQD 1 = US$2.80. By not following the US devaluations in 1971 and 1973, the official rate rose to US$3.3778, before a 5% devaluation reduced its rate to US$3.2169, a rate which remained until the Gulf War in 1990, although in late 1989 the black market rate was reported at five to six times higher than the official rate.[9]
Post-1990 developments
[edit]After the Gulf War in 1990, due to UN sanctions, Iraq was no longer able to place orders with De La Rue for further issues of the previously high quality notes, so new notes were produced. The pre-1990 notes became known as Swiss dinars while the new dinar notes were called Saddam dinars. Due to United States and the international sanctions on Iraq along with excessive government printing, the Saddam dinar currency devalued quickly. By late 1995, US$1 was valued at 3,000 Saddam dinars on the black market.
During the Iraqi no-fly zones conflict, Swiss dinars notes continued to circulate in the then politically isolated Kurdish-populated northern Iraq. The northern Iraqi Kurdistan government that was created as a result, refused to accept the inflated Saddam dinar notes (which were issued in huge amounts). Since the supply of Saddam dinar notes increased while the supply of Swiss dinar notes remained stable (even decreased because of notes taken out of circulation), the Swiss dinar notes appreciated against the Saddam dinar note. By having its own stable supply of the Swiss Iraqi dinars, the politically isolated region effectively evaded inflation, which ran rampant throughout the rest of the country.[10]
After Saddam Hussein was deposed in the 2003 invasion of Iraq, the Iraqi Governing Council and the Office for Reconstruction and Humanitarian Assistance printed more Saddam dinar notes as a stopgap measure to maintain the money supply until a new currency could be introduced.
Between 15 October 2003 and 15 January 2004, the Coalition Provisional Authority issued new Iraqi dinar notes and coins, with the notes printed by the British security printing firm De La Rue using modern anti-forgery techniques to "create a single unified currency that is used throughout all of Iraq and will also make money more convenient to use in people's everyday lives". Multiple trillions of dinars were shipped to Iraq and secured in the Central Bank[clarification needed] to exchange for Saddam dinar notes.[11] Saddam dinar notes were exchanged for the new dinars at par, while Swiss dinar notes were exchanged at a rate of one Swiss dinar = 150 new dinars.
Inflation and depreciation of the currency has continued since. On 19 December 2020, Iraq's Central Bank devalued the dinar by 24% to improve the government's revenue, which was affected by the COVID-19 pandemic and low oil prices.[12] On 2 March 2019, the Central Bank's indicative exchange rate was IQD 1,190 = US$1.[13] and on 18 June 2021 it was IQD 1,460.5000 = US$1.
There is considerable confusion (perhaps intentional on the part of dinar sellers) around the role of the International Monetary Fund in Iraq. The IMF as part of the rebuilding of Iraq is monitoring Iraq's finances and for this purpose uses a single rate (not a sell/buy) of IQD 1170 per US$. This "program rate"[14] is used for calculations in the IMF monitoring program and is not a rate imposed on Iraq by the IMF. For a wider history surrounding currency in the region, see British currency in the Middle East.
Use in speculation and fraud since the Iraq war (2003–present)
[edit]There is little international demand for dinars, since Iraq has few exports other than oil, which is sold in US dollars. Thus there is often an extremely high exchange rate for dinars compared with other currencies.
However, the downfall of Saddam Hussein resulted in the development of a multi-million-dollar industry involving the sale of dinars to speculators. Such exchange services and companies sell dinars at an inflated price, pushing the idea that the dinar would sharply increase in value to a profitable exchange rate some time in the future, instead of being redenominated. This activity can be either a legitimate service to currency speculators, or foreign exchange fraud: at least one major such currency exchange provider was convicted of fraud involving the dinar.[15] This trade revived after the election of Donald Trump in November 2016, with many buyers believing that Trump would cause a sharp revaluation in the dinar (often referred to by the abbreviation "RV" by supporters of the dinar trade,) to an exchange rate comparable to the US dollar.[16]
In 2014, Keith Woodwell (director of the Utah Division of Securities) and Mike Rothschild (writer for Skeptoid blog) stated that the speculation over the Iraqi dinar originated from a misunderstanding of why the value of the Kuwaiti dinar recovered after the First Gulf War, leading to an assumption that the Iraqi dinar would follow suit after the fall of Saddam: Woodwell and Rothschild noted substantial differences in economic and political stability between Iraq and Kuwait, with Iraq facing pervasive sectarian violence amid near-total reliance on oil exports.[17][18]
In response to the growing concerns about fraud and scams related to investment in the Iraqi dinar, State agencies such as Washington State,[19] Utah,[20] Oklahoma,[21] Alabama[22] and others issued statements and releases warning potential investors. Further alerts were issued by news agencies.[23] These alerts usually warn potential investors that there is no place outside Iraq to exchange the dinar, that they are typically sold by dealers at inflated prices, and that there is little evidence to substantiate the claims of significant appreciation of their investment due to revaluation of the currency.
In February 2014, the Better Business Bureau included investing in the dinar as one of the ten most notable scams in 2013.[24] There has also been a book written on the subject.[25]
Coins
[edit]Coins were introduced in 1931 and 1932 in denominations of round 1 and 2 fils in bronze, and scalloped 4 and 10 fils in nickel. 20, 50, and 200 fils were 50% silver. The 200 fils coin is also known as a rial. Bronze substituted nickel in the 5 and 10 fils from 1938 to 1943 during the World War II period and reverted to nickel in 1953. Silver 100 fils coins were also introduced in 1953. These coins first depicted King Faisal I from 1931 to 1933, King Ghazi from 1938, and King Faisal II from 1943 until the end of the kingdom.
Following the establishment of the Iraqi Republic, a new series of coins was introduced in denominations of 1, 5, 10, 25, 50, and 100 fils, with the 25, 50, and 100 fils in silver until 1969. In this series an allegorical sun replaced the image of the king, shapes and sizes remained the same with the exception of the 1 fil which was decagon shaped. This image was then replaced by three palms in 1968. In 1970, 250 fils pieces were introduced, followed by 500 fils and IQD 1 coins in 1982. A number of the coins for 1982 were a commemorative series celebrating Babylonian achievements. During this period, many of the coins were identified by their shape due to being made of similar composition metals, as from 1980 onward 250 fils were octagonal, 500 fils square, and IQD 1 decagon shaped. Coin production ceased after 1990 due to the emergency conditions generated by the Gulf War and international sanctions.
In 2004, a new series of coins were issued in denominations of IQD 25, IQD 50 and IQD 100 and were struck in bronze, brass, and nickel-plated steel respectively. They are sparse in design and depict an abstract map of Iraq and the main rivers.
-
4 Fils, 1933, obverse
-
4 Fils, 1933, reverse
-
10 fils 1938, obverse
-
50 fils 1938, obverse
-
50 fils 1938, reverse
-
10 fils 1959
-
50 fils 1982, reverse
Value | Diameter | Weight | Composition | Obverse | Reverse |
---|---|---|---|---|---|
IQD 25 | 17.4 mm[26] | 2.5 g[26] | Copper-plated steel[26] | Inscriptions: "Central Bank of Iraq" and "25 dinars" | Outline map of Iraq with the two rivers |
IQD 50 | 22 mm[26] | 4.34 g[26] | Brass-plated steel[26] | Inscriptions: "Central Bank of Iraq" and "50 dinars" | Outline map of Iraq with the two rivers |
IQD 100 | 22 mm[26] | 4.3 g[26] | Stainless steel[26] | Inscriptions: "Central Bank of Iraq" and "100 dinars" | Outline map of Iraq with the two rivers |
Banknotes
[edit]On 16 March 1932, banknotes were issued by the government in denominations of 1⁄4, 1⁄2, 1, 5, 10 and 100 dinars. The notes were printed in the United Kingdom by Bradbury, Wilkinson & Co.[27] From 1932 to 1947, the banknotes were issued by the Iraqi currency board for the government of Iraq and banknotes were convertible into pound sterling. From 1947, the banknotes were issued by the National Bank of Iraq, then after 1954 by the Central Bank of Iraq.
100 dinars notes ceased production in the 1940s, however, the same denominations were used until 1978, when IQD 25 notes were introduced. In 1991, IQD 50 were introduced and IQD 100 reintroduced, followed in 1995 by IQD 250 notes and IQD 10,000 notes in 2002.
Banknotes that were issued between 1990 and October 2003, along with an IQD 25 note issued in 1986, bear an idealized engraving of former Iraqi President Saddam Hussein. Following the 1991 Gulf War, Iraq's currency was printed both locally and in China, using poor grade wood pulp paper (rather than cotton or linen) and inferior quality lithography (some notes were reputedly printed on presses designed for printing newspapers).
The primitive printing techniques resulted in a limitless variety in coloration and detail, one layer of the printing would be too faint while another would be too dark. Counterfeit banknotes often appeared to be of better quality than real notes[citation needed]. Some notes were very poorly cut, and some notes even lacked serial numbers. Despite the collapse in the value of the Iraqi dinar, the highest denomination printed until 2002 was IQD 250. In 2002, the Central Bank of Iraq issued an IQD 10,000 banknote to be used for "larger, and inter-bank transactions". This note was rarely accepted in practice due to fears of looting and counterfeiting. This forced people to carry around stacks of IQD 250 note for everyday use. The other, smaller notes were so worthless that they largely fell into disuse. This situation meant that Iraq, for the most part, had only one denomination of currency in wide circulation.
Currency printed before the Gulf War was often called the Swiss dinar, a term of obscure and uncertain origins. These notes were manufactured in England by De La Rue and were of significantly higher quality than those later produced under the economic sanctions that were imposed after the first Gulf War. After a change-over period, this currency was unendorsed by the Iraqi government. However, this old currency still circulated in Kurdish-populated parts of northern Iraq until it was replaced with the new dinar after the second Gulf War. During this time the Swiss dinar retained its value, whilst the new currency consistently lost value at sometimes 30% per annum.
In 2003, new banknotes were issued consisting of six denominations: IQD 50, IQD 250, IQD 1,000, IQD 5,000, IQD 10,000, and IQD 25,000. The notes were similar in design to notes issued by the Central Bank of Iraq (CBI) in the 1970s and 1980s. An IQD 500 note was issued a year later, in October 2004. In the Kurdistan Region, the IQD 50 note is not in circulation.
In March 2014, the CBI began replacing banknotes with anti-counterfeiting enhanced versions that include SPARK optical security features, scanner readable guarantee threads in addition to braille embossing to assist vision-impaired persons.[28][29][30][31]
In February 2015, the CBI announced the removal from circulation on 30 April 2015 of the IQD 50 notes. Persons holding these banknotes were advised to immediately redeem them at their nearest bank for the IQD 250 and higher denomination dinar notes at a one-to-one rate at no charge.[32]
In November 2015, the CBI announced the introduction of a new IQD 50,000 banknote. This is the first new denomination banknote since the new series was first issued in 2003, and also the largest ever printed by the CBI. The current notes no longer depict Saddam Hussein and now feature inscriptions in Arabic, English and Kurdish.[33] The banknotes are printed using new security features from Giesecke & Devrient & De La Rue and measure 156 × 65 mm. They feature an outline map of Iraq showing the Euphrates & Tigris rivers as well as the Great Mosque of Samarra and the head of a purebred Arabian horse as a watermark.
In 2018, the Central Bank of Iraq (CBI) released new designs for the 25,000, 10,000, 1,000, 500, and 250 dinar notes. However, the most notable change was with the 1,000-dinar note, which was redesigned after social media users noticed that Surah Al-Ikhlas was written in the center of its front side. In the new design, the Surah was replaced by the Assyrian flag.[34][35] Surah Al-Ikhlas is also written on the right side of the front of the 25,000-dinar note, and it remains in the new design. Investing in the Iraqi dinar (IQD) represents a high-risk financial strategy that attracts speculative investors hoping for potential future currency appreciation. The investment involves purchasing Iraqi dinars with U.S. dollars, based on speculation about Iraq's potential economic recovery. The Iraqi dinar's value is strictly controlled by the Iraqi government and does not freely float on global forex markets. This means that even if Iraq's economic conditions improve, the currency may not automatically increase in value. Investors face numerous significant challenges, including extremely limited trading volume, high transaction fees that can reach up to 20%, and widespread scams within the currency exchange market. Financial experts consistently warn about the risks associated with dinar investments. The currency's value remains heavily dependent on Iraq's complex political landscape, ongoing economic instability, and fluctuating oil prices. Despite Iraq's substantial oil reserves, which could potentially support future economic growth, purchasing dinars is not considered a reliable investment strategy. Alternative investment methods, such as investing directly in Iraqi stocks or companies, are generally recommended as more transparent and potentially more profitable approaches to engaging with Iraq's economic potential. The currency's fixed exchange rate and restricted trading options make it an particularly unattractive investment for international investors. As of September 2024, one U.S. dollar remains worth approximately 1,310.6 Iraqi dinars, underscoring the currency's current limited international value and speculative nature.[36]
Kingdom of Iraq dinar series (1932–1939)
[edit]Kingdom Dinar Series | |||||
---|---|---|---|---|---|
Image | Value | Main Color | Description | ||
Obverse | Reverse | Obverse | Reverse | ||
IQD 1⁄4
(1932) |
Green and black | King Faisal I | |||
IQD 1⁄2
(1932) |
Red and black | King Faisal I | |||
IQD 1
(1932) |
Black and dark brown | King Faisal I | |||
IQD 1
(1939) |
Green and dark brown | King Faisal II as a child | Kingdom Coat of arms with 1 dinar written inside | ||
IQD 5
(1932) |
Red and black | King Faisal I | |||
IQD 10
(1932) |
Dark brown and purple | King Faisal I | |||
IQD 100
(1932) |
Yellow red and black | King Faisal I | |||
IQD 100
(1939) |
Yellow Green and black | King Faisal II as a child |
Swiss dinar series (1979–1986)
[edit]Swiss Dinar Series | |||||
---|---|---|---|---|---|
Image | Value | Main Color | Description | ||
Obverse | Reverse | Obverse | Reverse | ||
IQD 1⁄4 | Green | silo of basra | Date palms | ||
IQD 1⁄2 | Brown | the Arabic astrolabe | Spiral minaret of the Great Mosque of Samarra | ||
IQD 1 | Blue-green | A gold dinar coin | Mustansiriya Madrasah | ||
IQD 5 | Brown-violet and deep blue | Gelî Ali Beg and its waterfall | Al-Ukhaidir Fortress | ||
IQD 10 | Purple on blue and violet | Abu Ali Hasan Ibn al-Haitham | Al-manara al-hadba fi al-Mawsil (the hunchbacked tower of the Great Mosque of al-Nuri) | ||
IQD 25 | Green and brown | Horses | Abbasid Palace | ||
IQD 25 (1986) | Brown, green and black on blue | Saddam Hussein with Battle of al-Qādisiyyah in background | Al-Shaheed Monument |
1990–2003 series
[edit]1990–2002 Series | |||||
---|---|---|---|---|---|
Image | Value | Main Color | Description | ||
Obverse | Reverse | Obverse | Reverse | ||
IQD 1⁄4 (1993) | Green | Palm trees | Al-Bab al-wastaniy li-sur Baghdad (middle gate of the town wall of Baghdad) | ||
IQD 1⁄2 (1993) | Violet | Astrolabe | Great Mosque of Samarra | ||
IQD 1(1992) | Pink and green | A gold dinar coin | Mustansiriya Madrasah | ||
IQD 5 (1990; not issued) | Light red and pink | Saddam Hussein, buildings at Hatra, statuette of Ur-Nammu (2111 to 2094 BC), King of Ur | House (Mudhif) built by the marsh Arabs, or the Ma’dan, in southern Iraq, frieze from the Sumero-Akkadian period, eagle, found at Hatra, Sumerian weight stone ("duck weight"), golden head of a bull, decorating the front of a lyre covered with inlays | ||
IQD 5 (1992) | Red | Saddam Hussein | The Monument to the Unknown Soldier, King Hammurabi with the sun god Shamash | ||
IQD 10 (1990; not issued) | Blue | Saddam Hussein, palm trees, scene of the Tigris River | King Ashur-bani-pal galloping forward with bow and arrow, 645–635 BC | ||
IQD 10 (1992) | Blue-green | Saddam Hussein and Ishtar gate | Lamassu, Assyrian carving of a winged bull | ||
IQD 25 (1990) | Green | Horses | Abbasid Palace | ||
IQD 25 (1986) | Green-brown | Saddam Hussein & Battle of Qadisiyah | Al-Shaheed Monument | ||
IQD 25 (2001) | Green | Saddam Hussein | Ishtar gate / Lion of Babylon (statue) | ||
IQD 50 (1991) | Pink and green | Saddam Hussein | Great Mosque of Samarra | ||
IQD 50 (1994) | Brown and blue | Saddam Hussein and the Al-Shaheed Monument | Saddam Bridge | ||
IQD 100 (1991) | Green and purple | Saddam Hussein | Hands of Victory (Swords of Qādisīyah) | ||
IQD 100 (1994) | Blue | Saddam Hussein and the Hisn al-Ukhaydir (Al-Ukhaidir Fortress) | Baghdad Clock | ||
IQD 100 (2002) | Blue | Saddam Hussein | Old Baghdad | ||
IQD 250 (1995) | Violet | Saddam Hussein and the Qadisiya hydroelectric dam | Liberty Monument, Baghdad | ||
IQD 250 (2002) | Violet | Saddam Hussein | Dome of the Rock | ||
IQD 500 (1995; not issued) | Light pink | Saddam Hussein, Baghdad tower (previously International Saddam Tower) | Bridge of 14 July over Tigris River, Baghdad | ||
IQD 10,000 (2002) | Pink and violet | Saddam Hussein, The Monument to the Unknown Soldier | Mustansiriya Madrasah, Arabic astrolabe |
2003–present
[edit]2003 Series | |||||
---|---|---|---|---|---|
Image | Value | Main Color | Description | ||
Obverse | Reverse | Obverse | Reverse | ||
IQD 50 | Purple | Grain silos at Basra | Date palms | ||
IQD 250 | Blue | An Astrolabe | Spiral minaret of the Great Mosque of Samarra | ||
IQD 500 | Blue-green | Dukan Dam on the Little Zab river | Lamassu, Assyrian carving of a winged bull | ||
IQD 1,000 | Brown | A gold dinar coin | Mustansiriya Madrasah, Baghdad | ||
IQD 5,000 | Dark blue | Gelî Ali Beg and its waterfall | Al-Ukhaidir Fortress | ||
IQD 10,000 | Green | Abu Ali Hasan Ibn al-Haitham | Great Mosque of al-Nuri (Mosul) | ||
IQD 25,000 | Red | An Iraqi farmer holding a sheaf of wheat, a tractor and a gold dinar coin | Carving of the Code of King Hammurabi |
2013–2015 Series | |||
---|---|---|---|
Value | Main Color | Description | |
Obverse | Reverse | ||
IQD 10,000 | Green | Sculptor Jawad Saleem's Monument of Freedom at Liberation Square (Nasb al-Hurriyah) in Baghdad | Al-manara al-hadba fi al-Mawsil (the hunchbacked tower of the Great Nurid mosque in Mosul) |
IQD 25,000 | Red | An Iraqi farmer holding a jug, a tractor and a gold dinar coin | Carving of the Code of King Hammurabi |
IQD 50,000 | Brown | Water wheel on the Euphrates river, palm trees, Gali Ali Beg waterfall | Fishermen, traditional reed house of the Mesopotamian marshes, rivers Euphrates and Tigris rivers on map |
2018 Series | |||
---|---|---|---|
Value | Main Color | Description | |
Obverse | Reverse | ||
IQD 1,000 | Brown | A representation of an Assyrian star, man on a boat, inscription "Enlisting the marshes and Heritage of South Iraq in the World Heritage List" | Mustansiriya Madrasah, Baghdad |
Exchange rate
[edit]Current IQD exchange rates | |
---|---|
From Google Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD USD |
From Yahoo! Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD USD |
From XE.com: | AUD CAD CHF CNY EUR GBP HKD JPY USD USD |
From OANDA: | AUD CAD CHF CNY EUR GBP HKD JPY USD USD |
See also
[edit]- British currency in the Middle East
- Central Bank of Iraq
- Economy of Iraq
- Iraqi art
- Iraqi Swiss dinar
- Jordanian dinar
- Kuwaiti dinar
Notes
[edit]- ^ Arabic: دينار عراقي, Arabic pronunciation: [diːˈnɑːr] Kurdish: دیناری عێراقی.
References
[edit]- ^ "Currency of Iraq: Iraqi dinar, today's rate". Mataf. Retrieved 19 June 2022.
- ^ "Iraq". CIA.gov.
- ^ "Dollar to Iraqi Dinar Exchange Rate Today, Live 1 USD to IQD = 1462.4821 (Convert Dollars to Iraqi Dinar)". exchangerates.org.uk. Retrieved 7 February 2023.
- ^ Epstein, Mortimer (2016). The Statesman's Year-Book: Statistical and Historical Annual of the States of the World for the Year 1943. Palgrave Macmillan Limited. ISBN 978-0230270725.
- ^ Naval Intelligence Division (2014). Iraq & The Persian Gulf. Geographical handbook. Routledge. ISBN 978-1136892660.
- ^ Sassoon, Joseph (1987). Economic Policy in Iraq, 1932–1950. Cass. ISBN 1136285687.
- ^ "Iraq Monetary History". Dinar2u.com. Retrieved 27 December 2020.
- ^ Symes, Peter; Hanewich, Murray; Al-Muderis, Layth. "The Bank Notes of the Iraq Currency Board". p j symes. Retrieved 27 December 2020.
- ^ Wheeler, Tony. West Asia on a Shoestring. 2nd. Hawthorn, Australia: Lonely Planet, 1990.
- ^ Foote, Christopher; Block, William; Crane, Keith; Gray, Simon; et al. (Summer 2004). "Economic Policy and Prospects in Iraq". The Journal of Economic Perspectives. 18 (3): 47–70. doi:10.1257/0895330042162395.
- ^ Coalition Provisional Authority. "Iraq Currency Exchange". Archived from the original on 15 May 2007. Retrieved 28 May 2007.
{{cite web}}
: CS1 maint: unfit URL (link) - ^ Payne, Andrew. "Iraq becomes latest country to devalue its currency". Archived from the original on 18 February 2022. Retrieved 17 March 2022.
- ^ "Home". Central Bank of Iraq (in Arabic). Archived from the original on 2 March 2019. Retrieved 2 March 2019.
- ^ International Monetary Fund, Iraq: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, 3 March 2011, p. 17.
- ^ "Owners of currency exchange business that made $600 million convicted of fraud" (Press release). Georgia, USA: U.S. Attorney’s Office, Northern District of Georgia. Department of Justice. 10 October 2018. Retrieved 20 November 2018.
- ^ Sommer, Will (20 November 2018). "Trump Fans Sink Savings Into 'Iraqi Dinar' Scam". The Daily Beast.
- ^ Rothschild, Mike (10 February 2014). "The Ugly Truth About the Iraqi Dinar". Skeptoid. Skeptoid Media. Archived from the original on 2 March 2019. Retrieved 2 March 2019.
- ^ Lee, Jasen (3 January 2014). "Long-running scam involves foreign currency". KSL-TV. Salt Lake City: Bonneville International Corporation. Archived from the original on 2 March 2019. Retrieved 2 March 2019.
- ^ "Consumer Alert: Iraqi Dinar Scams". Department of Financial Institutions. Washington state. 15 April 2011.
- ^ Bolton, Jennifer (3 January 2011). "Utah Division of Securities identifies Top Ten Investment Alerts for 2011" (PDF) (Press release). Salt Lake City: State of Utah Department of Commerce, Division of Securities. Archived from the original (PDF) on 17 August 2014. Retrieved 31 October 2014.
- ^ Faught, Irving (2 February 2012). "PRESS RELEASE – IRAQI DINAR SCAMS" (Press release). Oklahoma Securities Commission. Archived from the original on 6 February 2015.
- ^ "INVESTOR ALERT – Understanding high-risk investments What you don't know CAN hurt you!" (PDF). Alabama Securities Commission. 12 March 2014. Archived from the original (PDF) on 14 September 2023. Retrieved 8 September 2019.
- ^ "Iraqi Dinar Investment – Fact or Fiction". WHNT. 9 May 2014.
- ^ "Top Ten Scams 2013". Arlington, VA: Better Business Bureau/. 11 February 2014. Archived from the original on 22 August 2018. Retrieved 22 August 2018.
- ^ The Iraqi Dinar Scam: Why Buying the Dinar is for Dummies. Learning Markets. 30 April 2012.
- ^ a b c d e f g h i Cuhaj, George S., ed. (2011). Standard Catalog of World Coins, 2001-Date (5th ed.). Krause Publications. p. 253. ISBN 978-1-4402-1160-7.
- ^ Linzmayer, Owen (2012). "Iraq". The Banknote Book. San Francisco, CA: Banknote News.
- ^ "New Iraqi Dinar banknotes feature stronger security features". 11 May 2014. Retrieved 22 August 2018.
- ^ Iraq new 250- and 500-dinar notes confirmed Banknote News. 6 October 2014. Retrieved on 2014-11-30.
- ^ Iraq new 1,000-dinar note confirmed Banknote News. 5 October 2014. Retrieved on 2014-11-30.
- ^ Iraq new 5,000- and 25,000-dinar notes confirmed Banknote News. 29 November 2014. Retrieved on 2014-11-30.
- ^ "Central Bank Of Iraq To Remove 50 Dinar Banknotes From Circulation On April 30, 2015 «". marketersmedia.com. Retrieved 22 August 2018.
- ^ Giammarino, Nick (13 November 2015). "Newly Released 50000 Iraqi Dinar Banknotes Released". Iraqi Dinar RV News. Retrieved 22 August 2018.
- ^ "Central Bank of Iraq unveils new 1000 dinar banknote featuring Assyrian star". www.rudaw.net. Retrieved 6 September 2024.
- ^ "Iraq releases first notes since 2003". CoinWorld. Retrieved 6 September 2024.
- ^ https://www.investopedia.com/articles/forex/081314/iraqi-dinar-investment-wise-investment.asp
External links
[edit]- Central Bank of Iraq homepage
- Council on Foreign Relations: benefits of the new Iraqi dinar Archived 23 May 2011 at the Wayback Machine
- Iraqi Dinar Scam – Washington State Department of Financial Institutions warning
- Iraqi Dinar Scams – Oklahoma Securities Commission warns residents
- Dmoztools.net – Iraqi Dinar Archived 5 April 2017 at the Wayback Machine