Iraqi Dinar - Quote - Chart - Historical Data (2024)

FAQs

Is the Iraqi dinar expected to go up in value? ›

Without revaluation, the value of the Iraqi dinar is unlikely to increase.

The USDIQD decreased 0.1781 or 0.01% to 1,309.8219 on Tuesday September 17 from 1,310.0000 in the previous trading session. Historically, the USDIQD reached an all time high of 1460 in December of 2020.

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.

Sadly, everyone from Armed Service men and women, civilians, contractors and unwise investors are buying into this scam without understanding the real risks. The Iraqi dinar “investment” opportunity is a scam that has been around for a few years and has recently been regaining much of its former popularity.

Numerous currency brokers, such as US First Exchange, will gladly buy Iraqi Dinars.

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In 1932, the Iraqi Dinar replaced the Rupee at a rate of 1 Dinar to 11 Rupees and was pegged to the British Pound until 1959. The peg was then switched to the US Dollar at a rate of 1 IQD to 2.8 USD.

Are most transactions still in American dollars? The Iraqi money is backed by foreign exchange, treasury notes and precious metals such as gold. Iraq does not maintain a gold standard. During the conversion period, the old Dinar still has value.

The U.S. Treasury lists the dinar as worth nothing. Collectors think otherwise. While low-denomination Saddam notes have some souvenir value, prices are far higher for older Iraqi currency, said Audrius Tomonis, a currency collector who runs the website Banknotes.com.

What is the strongest currency in the world? ›

The Kuwaiti Dinar is renowned as the strongest currency in the world. Introduced in 1961, it has maintained a commanding presence due to Kuwait's substantial oil reserves, which account for a significant portion of its economic output.

You can buy Iraqi dinars in the UK, although it can be hard to find (being both a minor and closed currency.)

The best place to sell Iraqi dinars for USD is through a reputable online currency exchange service. These services typically offer the best exchange rates and the most convenient way to sell your currency.

1 IQD = 0.000763 USD Sep 17, 2024 06:23 UTC

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