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LOCAL CURRENCY IN IRAQ

Need to know how much is your money worth in Iraq? The local currency in Iraq is called Dinar.

The Iraqi Dinar is issued and managed by the Central Bank of Iraq. To find out the current currency exchange rates for Dinar to other major currencies of the world, click on foreign currency rates.

Iraqi Currency Information
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The currency used in Iraq is called as the Dinar. This currency is denoted with the currency sign ?.? and the ISO 4217 Code for the Iraqi Dinar is IQD. The Dinar, is the official currency of the Iraq . It is divided into 100 smaller units called fils.

The constitution of Iraq provides that the Iraq government shall have the power to print the Iraqi Dinar and fils coins to be used as a legal tender in Iraq. The Iraqi Dinar bank notes and Fils coins are both designated as "legal tender" in payment of debts.

The Iraqi Dinar bill uses the decimal system, consisting of 100 equal units.

The symbol ?.?, usually written before the numerical amount, is used for the Iraqi Dinar.

Currently printed bank notes denominations are 50, 250, 500, 1,000, 5,000, 10,000, 25,000 dinar and the coins are minted in the denominations of 25, 50, 100 dinar [1] .

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How Does Balance of Trade and Investment Affect the Value of the Iraqi Dinar
Financial analysts regularly cite the balance of trade and investment in Iraq as the most important influence on the value of the Dinar. The difference between what the Iraq exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Dinar exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Dinar exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Iraqi Dinar.
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