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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]
However, excluding the pegged (fixed exchange rate) currencies, there are only 130 currencies that are independent or pegged to a currency basket. Dependencies and unrecognized states are listed here only if another currency is used on their territory that is different from the one of the state that administers them or has jurisdiction over them.
Beginning on 18 March 2003 (the day before United States forces entered Baghdad as part of the 2003 invasion of Iraq), nearly US$1 billion was stolen from the Central Bank of Iraq. That month, a handwritten note signed by Saddam Hussein surfaced, ordering $920 million to be withdrawn and given to his son Qusay Hussein .
The economy of Iraq is dominated by the oil sector, which provided 89% of foreign exchange earnings in 2024. [15] During its modern history, the oil sector has provided about 99.7% of foreign exchange earnings. [16] Iraq's agrarian economy underwent rapid development following the 14 July Revolution in 1958 which overthrew the Hashemite monarchy.
WASHINGTON/BAGHDAD (Reuters) -The United States has barred 14 Iraqi banks from conducting dollar transactions, the Wall Street Journal reported on Wednesday, citing U.S. officials.
US Federal Reserve Bank historical exchange rate data; South African Currency Page, with a short description of each note. South African Currency Page (old rand), a short description of pre-1994 (apartheid-era) notes. Historical banknotes of South Africa (in English and German) Bank of England exchange rate ZAR vs GBP since 2001–present
Following the 2003 invasion the Coalition Provisional Authority, installed by the Coalition Forces, determined that Iraq needed a new, unified currency, but establishing a proper exchange rate was relatively difficult. The market exchange rate for Saddam dinars to Swiss dinars remained around 100:1 from 1998 to January 2002, but as the invasion ...
The spot exchange rate is the current exchange rate, while the forward exchange rate is an exchange rate that is quoted and traded today but for delivery and payment on a specific future date. In the retail currency exchange market, different buying and selling rates will be quoted by money dealers.