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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.
After the fall of Saddam Hussein's government, the Central Bank of Iraq was established as Iraq's independent central bank by the Central Bank of Iraq Law 2004, with authorised capital of 100 billion dinars. [12] According to the law, 100% of the bank's capital stock would be held by the State and would not be transferable. [13]
The Islamic State dinar (Arabic: دينار الدولة الإسلامية), or simply the gold dinar, [1] was the official currency of the Islamic State from 2014 to 2019. Subdivided into dirhams and fulûs , it was modelled after the historical gold dinar that was first introduced in the Muslim world during the time of the Umayyad Caliphate .
Iraq has banned eight local commercial banks from engaging in U.S. dollar transactions, taking action to reduce fraud, money laundering and other illegal uses of U.S. currency days after a visit ...
Iraq's central bank must address continued risks of the misuse of dollars at Iraqi commercial banks to avoid new punitive measures targeting the country's financial sector, a top U.S. Treasury ...
The vault is used to store a large portion of the United States' gold reserves as well as other precious items belonging to or in custody of the federal government. It currently holds roughly 147 million troy ounces (4,580 metric tons) of gold bullion , a little over half the total gold presently held by the federal government . [ 2 ]
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. The ban, which ...
For soldiers, the benefits are straightforward, but for the government the benefits are much more extensive. Transporting U.S. currency overseas costs the military hundreds of thousands of dollars annually – during the Iraq War, for every $1,000,000 sent to pay soldiers in Iraq, it cost $60,000 in security, logistics, and support fees. [6]