Iraqi dinar

1 EUR = 1613.7 IQD 1000 IQD = 0.61971 EUR

1 CHF = 1318.9 IQD 1000 IQD = 0.75821 CHF

The Iraqi dinar (Arabic دينار عراقي, DMG ʿ Iraqi dinar, in short: IQD) is the currency of Iraq and by the Iraqi Central Bank ( Central Bank of Iraq ) released. The new dinar used today was introduced on 15 October 2003. The old dinar was exchanged for a three -month transition period ( until 15 January 2004). With the introduction of the new Iraqi Dinar currency was unified throughout Iraq. So addition could be increased simultaneously falsifying safety and service life of the notes.

A Dinar is divided into 1000 fils. Due to the inflation of this, however, was taken in the 1990s from the circulation.

History

The Iraqi Dinar was issued in 1923 by the mandatory power Britain and thus replaced the then accepted as payment Indian Rupee. The introductory course was 1 dinar = 13 ⅓ rupees. After the founding of the Republic of the force since 1932 binding to the pound sterling was lifted, the exchange rate of about 3.33 U.S. dollars for one Iraqi dinar was up to the outbreak of the first Gulf War in 1980 stable.

In 1982, the value was set at $ 3.2169 for a dinar, due to inflation, he was on the black market, however, only about half worth. In 1989 only one-sixth - so 1.86 dinars to the dollar. After the second Gulf War and the subsequent economic sanctions against Iraq, the value of the dinar fell steadily. The inflation rate in 1992 estimated at 8000 % 1994 24,000 %.

As the old - produced by the Swiss technique - Dinar banknotes quickly lost value, they were replaced with new, manufactured in Iraq Dinar. In the Autonomous Region of Kurdistan, however, the old " Swiss dinar " was maintained at a fixed value of 0.33 dinars to one U.S. dollar as the de facto currency. In the rest of Iraq to the print dinar was printed on poor quality wood pulp paper. Only with the introduction of the new Iraqi Dinar on 15 October 2003 was the Iraq again a single currency.

When you change the following conversion rates were:

In the opinion of some speculators, the price of the Iraqi dinar is currently very low and it could be sometime upgraded. Especially on esoteric embossed websites and blogs in the U.S., the belief is fueled to an imminent substantial appreciation ( " Reval " / " Revaluation "), which considered critical, however a completely irrational ' internet phenomenon ' is.

2003: value of the dinar, which was used in the Kurdish north ( Swiss dinars )

Bills

Safety Features

The banknotes of the new Iraqi dinar will be printed with the latest technology against counterfeiting. The safety devices of the notes are similar to those of the euro notes and are among the safest in the world.

One of the main reasons that have led to the introduction of the new Iraqi Dinar was next to the building of a new democratic government in the fight against counterfeiting. The Central Bank of Iraq has, therefore, chosen for the printing of the new notes, the company De La Rue from England, one of the world's leading company in the prevention of counterfeiting.

The following five security features protect against counterfeits: