Iraqi Swiss dinar

The Swiss dinar was the currency used by 1991 to October 15, 2003 in the Kurdish autonomous zone in northern Iraq.

The currency was known in Iraq as the Swiss dinar, as the banknotes to have been possibly made ​​with Swiss plates.

Before the Second Gulf War, the currency was used in the entire country of Iraq. The official rate to the U.S. dollar was frozen at 0.33 dinars to one U.S. $.

While the official currency of Iraq suffered considerable inflation pressure, the Swiss dinar used in the autonomous Kurdish region remained largely stable. While the money supply from 1991 increased to banknotes in circulation within the ruled by Saddam Hussein of Iraq within four years from 22 billion to 584 billion dinars, and thus caused an inflation rate of 250%, remained the dinar used in northern Iraq, what quantity of money and exchange rate was concerned, largely stable. In the spring of 2003, an exchange rate between the Iraqi dinar and the Swiss dinar of 1:300 had emerged.

After the fall of Saddam Hussein, the currency was unified in Iraq under the direction of civil administrator in Iraq, Paul Bremer, while the Kurdish dinar was replaced at an exchange rate of 150 new Iraqi Dinar to one Swiss dinar.