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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.
Iraqi Swiss dinar; دينار سويسري Denominations; Banknotes: 1 ⁄ 4, 1 ⁄ 2, 1, 5, 10, 25 dinars (Iraqi dinar banknotes issued before the beginning of the Gulf War and Iraqi dinar banknotes bearing the image of former Iraqi leader Saddam Hussein) Demographics; User(s) Iraq Kuwait (1990-1991) Issuance; Central bank: Central Bank of Iraq
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]
Saddam Hussein cared more about his place in Iraq's history than the opinion of the citizenry he ruled over, said the former Federal Bureau of Investigation agent who led the interrogation of the ...
At the same time, Saddam Hussein made the Kuwaiti dinar equal to the Iraqi dinar, thereby lowering the Kuwaiti currency to one-twelfth of its original value. In response, Sheikh Jaber al-Ahmad al-Sabah ruled the banknotes as invalid and refused to reimburse stolen notes, which became worthless because of a UN embargo.
Saddam Hussein [c] (28 April 1937 – 30 December 2006) was an Iraqi politician and revolutionary who served as the fifth president of Iraq from 1979 until his overthrow in 2003. He previously served as the vice president of Iraq from 1968 to 1979 and also served as prime minister from 1979 to 1991 and later from 1994 to 2003.
Two Iraqi officials report that there was a torture dungeon operating for years in one of the city’s most affluent neighborhoods. Report: Saddam Hussein kept a secret torture chamber on the ...
Joe Rogan says he’s ‘genuinely concerned’ about drone sightings after new theory emerges