Iraqi Dinar


Also found in: Dictionary, Thesaurus, Acronyms, Wikipedia.

Iraqi Dinar

The currency of Iraq. It was introduced in 1923, replacing the Indian rupee. It was pegged to the British pound until 1959, when the peg was switched to the U.S. dollar. The peg was maintained at various levels until the Persian Gulf War in 1991, though the black market rate did not always reflect the official exchange rate. After the Gulf War, the Iraqi government was no longer able to use the Swiss printer it had previously used to print the dinar. It began using inferior technology to print its money. However, the older notes remained in circulation and became known as Swiss dinars. Both the old and the new notes were replaced following the U.S.-led invasion in 2003.
Mentioned in ?
References in periodicals archive ?
Formally introduced in October 2003, the new Iraqi dinar is virtually worthless, trading at 1,460 dinars to $1.
As Iraq grows more stable, is the dinar a good investment? Experts don't think so
755 million at an exchange rate of 1,170 Iraqi dinars per dollar, compared to last week s $$712.
Dollar sale in CBI auction increases this week
The exchange rate reached to 1,166 Iraqi dinars for one dollar.
Higher demand for dollars in CBI auction
310 million during the previous session at an exchange rate of 1,170 Iraqi dinars per dollar.
Dollar demand slightly increases in CBI auction
The demand hit $13,632 million in cash, covered at an exchange rate of 1,179 Iraqi dinars per dollar, and $158,790 million in foreign transfers outside the country, covered at an exchange rate of 1,179 Iraqi dinars per dollar," according to a CBI news bulletin received by Aswat al-Iraq news agency.
CBI sells $172 million on Thursday

Financial browser ?
Full browser ?