Iraqi dinar

Iraqi dinar
عد
The Iraqi dinar (Arabic: دينار; sign: ID in Latin, د.ع in Arabic; code: IQD) is the currency of Iraq. It is issued by the Central Bank of Iraq and is subdivided into 1,000 fils (فلس), although inflation has rendered the fils obsolete since 1990. On 26 December 2022, the exchange rate with the US Dollar was US$1 = 1556 dinars.

The Iraqi dinar entered circulation on 1 April 1932, replacing the Indian rupee, which had been the official currency since the British occupation of the country in World War I, at a rate of 1 dinar = 11 rupees. The dinar was pegged at par with sterling until 1959 when, without changing its value, the peg was switched to the United States dollar at the rate of ID 1 = US$2.80. 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.

Country
  • Mesopotamia
    Mesopotamia is a historical region of Western Asia situated within the Tigris–Euphrates river system, in the northern part of the Fertile Crescent. Today, Mesopotamia occupies modern Iraq. In the broader sense, the historical region included present-day Iraq and parts of present-day Iran, Kuwait, Syria and Turkey.

    The Sumerians and Akkadians (including Assyrians and Babylonians) originating from different areas in present-day Iraq, dominated Mesopotamia from the beginning of written history (c. 3100 BC) to the fall of Babylon in 539 BC, when it was conquered by the Achaemenid Empire. It fell to Alexander the Great in 332 BC, and after his death, it became part of the Greek Seleucid Empire. Later the Arameans dominated major parts of Mesopotamia (c. 900 BC – 270 AD).