FACTOID # 3: South Carolina has the highest rate of violent crimes and aggravated assaults per capita among US states.
 
 Home   Encyclopedia   Statistics   States A-Z   Flags   Maps   FAQ   About 
   
 
WHAT'S NEW
 

SEARCH ALL

FACTS & STATISTICS    Advanced view

Search encyclopedia, statistics and forums:

 

 

(* = Graphable)

 

 


Encyclopedia > Iraqi dinar
Iraqi dinar
دينار عراقي (Arabic)
25000 dinar banknotes 1972 25 fils coin
25000 dinar banknotes 1972 25 fils coin
ISO 4217 Code IQD
User(s) Iraq
Inflation rate 33%
Source The World Factbook, 2005 est.
Subunit
1/100 fils
Symbol ع.د
Coins 25, 100 dinar
Banknotes 50, 250, 500, 1000, 5000, 10000, 25000 dinar
Central bank Central Bank of Iraq
Website www.cbiraq.org

The Iraqi dinar (ISO 4217: IQD, pronounced: di-'när) is the legal currency of Iraq. The dinar is issued by the Central Bank of Iraq. 25000 New Iraqi Dinar Notes This work is copyrighted. ... Image File history File links Unknown_origin_coin3. ... 1972 (MCMLXXII) was a leap year starting on Saturday. ... World inflation rate, based on CIA factbook figures In economics, inflation is a fall in the market value or purchasing power of money. ... For the river in Germany see Fils River The fils is a subdivision of currency used in many Arab countries, such as Iraq. ... The Central Bank of Iraq, guarded by U.S. troops. ... ISO 4217 is the international standard describing three letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). ... The Central Bank of Iraq, guarded by U.S. troops. ...

Contents


Old Iraqi dinar

The Iraqi dinar was introduced into circulation in 1931 and was at par with the pound sterling. Both the banknotes and the coins were printed and minted in the United Kingdom. The Iraqi dinar replaced the Indian rupee which was the official currency after the British occupation of the country in World War I. From 1931 to 1947, the banknotes were issued by the Iraqi currency board for the government of Iraq and banknotes were convertible into pound sterling. From 1947, the banknotes were issued by the National Bank of Iraq, then after 1954 by the Central Bank of Iraq. After the 1958 coup d'etat, the Iraqi dinar was dissociated from the pound sterling, but continued to have a very high value of $3.3 for the dinar. 1931 (MCMXXXI) was a common year starting on Thursday (link is to a full 1931 calendar). ... ISO 4217 Code GBP User(s) United Kingdom Inflation rate 2. ... A £20 Ulster Bank banknote. ... A coin is usually a piece of hard material, generally metal and usually in the shape of a disc, which is issued by a government to be used as a form of money. ... ISO 4217 Code INR User(s) India Inflation rate 4. ... Combatants Allied Powers: British Empire Canada France Italy Russian Empire United States Central Powers: Austria-Hungary Bulgaria German Empire Ottoman Empire Commanders Douglas Haig John Jellicoe Sir Arthur Currie Ferdinand Foch Nicholas II Woodrow Wilson John Pershing Wilhelm II Reinhard Scheer Franz Josef I Oskar Potiorek Ä°smail Enver Ferdinand I... 1947 (MCMXLVII) was a common year starting on Wednesday (the link is to a full 1947 calendar). ... 1954 (MCMLIV) was a common year starting on Friday of the Gregorian calendar. ... The Central Bank of Iraq, guarded by U.S. troops. ... 1958 (MCMLVIII) was a common year starting on Wednesday of the Gregorian calendar. ... A coup détat, or simply a coup, is the sudden overthrow of a government, usually done by a small group that just replaces the top power figures. ...


In late 1989, the official exchange rate was 0.31 dinar for US$1. The black market rate was reported as being five to six times (1.86 dinars for US$1) higher than the official rate.[1]


After the Gulf War in 1991 and due to the economic blockade the previously used Swiss printing technology was no longer available. A new inferior notes issue was created. The previous issue became known as the Swiss dinar and continued to circulate in the Kurdish region of Iraq. Due to excessive government printing of the new notes issue, the dinar devalued fast, and in late 1995, $1 equalled 3000 dinars. Combatants UN Coalition Republic of Iraq Commanders Norman Schwarzkopf Saddam Hussein Strength 660,000 545,000 Casualties 345 dead, 1,000 wounded 25,000 dead, 100,000 - 300,000 wounded The Gulf War (1990–1991) (also called the First Gulf War, Persian Gulf War, or Operation Desert Storm) was a... 1991 (MCMXCI) was a common year starting on Tuesday of the Gregorian calendar. ... After the first Gulf War the Iraqi government issued a new currency. ... 1995 (MCMXCV) was a common year starting on Sunday of the Gregorian calendar. ...

Old five-dinar note featuring Saddam Hussein
Old five-dinar note featuring Saddam Hussein

Banknotes issued between 1990 and October 2003, along with a 25-dinar note issued in 1986, bear an idealized engraving of former Iraqi President Saddam Hussein. Following the 1991 Gulf War, Iraq's currency was printed both locally and in China, using poor grade wood pulp paper (rather than cotton or linen) and inferior quality lithography (some notes were reputedly printed on presses designed for printing newspapers). A five-dinar banknote from Iraq under Saddam Hussein. ... A five-dinar banknote from Iraq under Saddam Hussein. ... Saddam Hussein Abd al-Majid al-Tikriti, (Arabic: ), (born April 28, 1937 ), was the President of Iraq from 1979 until the United States-led invasion of Iraq reached Baghdad on April 9, 2003. ... This article is about the year. ... 2003 : January - February - March - April - May - June - July - August - September - October - November - December A timeline of events in the news for October, 2003. ... 1986 (MCMLXXXVI) was a common year starting on Wednesday of the Gregorian calendar. ... Saddam Hussein Abd al-Majid al-Tikriti, (Arabic: ), (born April 28, 1937 ), was the President of Iraq from 1979 until the United States-led invasion of Iraq reached Baghdad on April 9, 2003. ... International Paper Company Wood pulp is the most common material used to make paper. ... Cotton ready for harvest. ... Linum usitatissimum L. - Flax Torn linen cloth, recovered from the Dead Sea Linen is a material made from the fibers of the flax plant. ... Negative litography stone and positive print of a map of Munich Lithography is a method for printing on a smooth surface. ...


Counterfeited banknotes often appeared to be of better quality than real notes. Despite the collapse in the value of the Iraqi dinar, the highest denomination printed until 2002 was 250 dinars. In 2002, the Central Bank of Iraq issued a 10,000-dinar banknote to be used for "larger, and inter-bank transactions". This note was rarely accepted in practice due to fears of looting and counterfeiting. This forced people to carry around stacks of 250-dinar notes for everyday use. The other, smaller bills were so worthless that they largely fell into disuse. This situation meant that Iraq, for the most part, had only one denomination of banknote in wide circulation. The examples and perspective in this article or section may not represent a worldwide view. ... For album titles with the same name, see 2002 (album). ...


Currency printed before the Gulf War was often called the Swiss dinar. It got its name from the Swiss printing technology that produced banknotes of a considerably higher quality than those later produced under the economic sanctions that were imposed after the first Gulf War. After a change-over period, this currency was disendorsed by the Iraqi government. However, this old currency still circulated in the Kurdish regions of Iraq until it was replaced with the new dinar after the second Gulf War. During this time the Swiss dinar retained its value, whilst the new currency consistently lost value (sometimes at 30% per annum).


Following the deposition of Saddam Hussein in the 2003 invasion of Iraq, the Iraqi Governing Council and the Office for Reconstruction and Humanitarian Assistance began printing more Saddam dinar notes as a stopgap measure to maintain the money supply until a new currency could be introduced. Deposition by political means concerns the removal of a politician. ... Combatants Coalition Forces: United States United Kingdom South Korea Italy Poland Romania Australia Denmark others. ... The Iraqi Governing Council. ... The seal of the CPA in Iraq Following the 2003 invasion of Iraq, the Office for Reconstruction and Humanitarian Assistance (ORHA) was the organization established by the United States Government that acted as a caretaker administration in Iraq until civilian rule resumed on June 28, 2004. ...


New Iraqi dinar

Replacing the notes

Between October 15, 2003 and January 15, 2004, the Coalition Provisional Authority issued the new Iraqi dinar printed by De La Rue using modern anti-forgery techniques to "create a single unified currency that is used throughout all of Iraq and will also make money more convenient to use in people’s everyday lives". Old dinars were exchanged for new dinars at a one-to-one rate, while Swiss dinars were exchanged at a rate of 150 new dinars for one Swiss dinar. October 15 is the 288th day of the year (289th in leap years). ... 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... January 15 is the 15th day of the year in the Gregorian calendar. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... The Seal of the CPA in Iraq The Coalition Provisional Authority (CPA) was established as a transitional government following the invasion of Iraq by the United States, United Kingdom and the other members of the multinational coalition which was formed to oust the government of Saddam Hussein in 2003. ... De La Rue is a British commercial printer and papermaker. ...


New denominations

The new banknotes consisted of six denominations: 50, 250, 1000, 5000, 10000, and 25000. The notes were similar in design to notes issued by the Central Bank of Iraq in the 1970s and 1980s. A 500 dinar note was issued a year later, in October 2004. In December 2004, the Central Bank of Iraq announced that it would issue new coins, effective from 2 January 2005, in denominations of 25 and 100 dinars. October 2004 : January - February - March - April - May - June - July - August - September - October - November - December See also: October 2004 in sports Events Deaths in October • 29 HRH Princess Alice • 25 John Peel • 24 James Cardinal Hickey • 23 Robert Merrill • 19 Paul Nitze • 18 K. M. Veerappan • 16 Pierre Salinger • 10 Christopher... ← - 2004 : January - February - March - April - May - June - July - August - September - October - November - December- → Deaths in December • 30 Artie Shaw • 29 Julius Axelrod • 28 Jacques Dupuis • 28 Jerry Orbach • 28 Susan Sontag • 26 Reggie White • 26 Sir Angus Ogilvy • 23 P. V. Narasimha Rao • 23 Doug Ault • 19 Renata Tebaldi • 16... A coin is usually a piece of hard material, generally metal and usually in the shape of a disc, which is issued by a government to be used as a form of money. ... January 2 is the second day of the year in the Gregorian calendar. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ...


Current specifications

Value Diameter Weight Composition Obverse Reverse
25 dinars 17.5 mm 2 g Copper plated steel Enscriptions: "Central Bank of Iraq" and "25 dinars" Outline map of Iraq
100 dinars 22 mm 4.3 g Nickel plated steel Enscriptions: "Central Bank of Iraq" and "100 dinars" Outline map of Iraq
2003 Series
Value Colour Obverse Reverse
50 dinars Purple Grain silos at Basra Date palms
250 dinars Blue An astrolabe Spiral minaret at Samarra
500 dinars Bluish-Green Ducan Dam on the Al Zab river Assyrian carving of a winged bull
1,000 dinars Brown A gold dinar coin Al-Mustansirya University, Baghdad
5,000 dinars Dark blue Gully Ali Beg and its waterfall Desert fortress at Al-Ukhether
10,000 dinars Green Abu Ali Hasan Ibn al-Haitham Hadba Minaret at the Great Nurid Mosque, Mosul
25,000 dinars Red A Kurdish farmer holding a sheaf of wheat Carving of King Hammurabi
50 Dinars, Front
50 Dinars, Back

General Name, Symbol, Number copper, Cu, 29 Chemical series transition metals Group, Period, Block 11, 4, d Appearance metallic pinkish red Atomic mass 63. ... The old steel cable of a colliery winding tower Steel is a metal alloy whose major component is iron, with carbon being the primary alloying material. ... General Name, Symbol, Number nickel, Ni, 28 Chemical series transition metals Group, Period, Block 10, 4, d Appearance lustrous, metallic Atomic mass 58. ... The old steel cable of a colliery winding tower Steel is a metal alloy whose major component is iron, with carbon being the primary alloying material. ... ImageMetadata File history File links 50dinarsfront_(Small). ... ImageMetadata File history File links 50dinarsfront_(Small). ... ImageMetadata File history File links 50dinarsback_(Small). ... ImageMetadata File history File links 50dinarsback_(Small). ...

Value of the new dinar

Although the value of the new Iraqi dinar appreciated from 4,000 dinars per US dollar, at the time of its introduction, to a high of 980 dinars per US dollar, it has now depreciated to an official exchange rate of 1,469.63 dinars per US dollar at the Central Bank of Iraq. However, there is not yet a set international exchange rate, and so international banks do not yet exchange Iraqi dinars. The exchange rate available on the streets of Iraq is currently around 1500 dinars per US dollar (April 2006). ISO 4217 Code USD User(s) the United States, the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation rate 3. ... April 2006 : ← - January - February - March - April - May - June - July - August - September - October - November - December- → Events 1 April 2006 (Saturday) Marcos Pontes, Brazils first astronaut, reaches the International Space Station. ...


Iraqi dinar speculation

Immediately after the issue of the new Iraqi notes, many scams appeared promoting speculation in the new Iraqi dinar. These sites advertise heavily on conservative websites and magazines, and sell the Iraqi currency at a huge mark up. The websites promise profits of up to 1000%, but in fact no currency in history has ever appreciated 1000% against the United States dollar, and a currency swing that severe would have negative consequences for Iraq's economy. Investment experts strongly oppose speculation in the Iraqi dinar. [2] Speculation involves the buying, holding, and selling of stocks, bonds, commodities, currencies, collectibles, real estate, derivatives or any valuable financial instrument to profit from fluctuations in its price as opposed to buying it for use or for income via methods such as dividends or interest. ...


References

  1. ^ Wheeler, Tony. West Asia on a Shoestring. 2nd. Hawthorn, Australia: Lonely Planet, 1990.
  2. ^ http://money.cnn.com/2004/08/10/pf/expert/ask_expert/

See also

To meet Wikipedias quality standards, this article or section may require cleanup. ...

External links


Dinars
Current Algerian dinar | Bahraini dinar | Islamic gold dinar | Iraqi dinar | Jordanian dinar | Kuwaiti dinar | Libyan dinar | Macedonian denar | Tunisian dinar | Serbian dinar | Sudanese dinar
Defunct Abu Dhabi dinar | Bosnia and Herzegovina dinar | Croatian dinar | Krajina dinar | Republika Srpska dinar | South Arabian dinar | South Yemeni dinar | Yugoslav dinar
As subunit Iranian rial
See also E-dinar
This box: viewtalkedit


A 25,000 Iraqi dinar note printed after the fall of Saddam Hussein A hyperinflation banknote of 50 billion dinara (1993) A 5,000 dinar bill of the Republic of Serbian Krajina (1992) The dinar is the currency unit of various countries, most of them Arabic-speaking or once part... The dinar is the currency of Algeria. ... The Bahraini Dinar is the official currency of Bahrain. ... Islamic dinar and dirham The Islamic gold dinar (sometimes referred as Islamic dinar or Gold dinar) is a bullion gold coin made from 4. ... The Jordanian dinar (ISO 4217 code JOD) is the official currency of the Hashemite Kingdom of Jordan and the first official one in the State of Palestine. ... The Kuwaiti dinar (ISO 4217 code KWD) is Kuwaits official currency. ... ISO 4217 Code LYD User(s) Libya Inflation rate -1% Source The World Factbook, 2005 est. ... ISO 4217 Code MKD User(s) Republic of Macedonia Inflation rate 0% Source The World Factbook, 2005 est. ... The dinar (ISO 4217 currency code TND) is the currency of Tunisia. ... The dinar is the official currency of Serbia, one of the two republics that comprise Serbia and Montenegro. ... // The Dinar The dinar is the currency of Sudan. ... The dinar was the independent currency of Bosnia and Herzegovina between 1992 and 1998. ... Obverse and reverse of 10 Croatian dinars Croatian dinar was official currency in Croatia from December 23, 1991 (replacing the Yugoslav dinar) to May 30, 1994 (replaced by the kuna). ... Krajina Dinar, 5 million dinar note The dinar was the currency in Republic of Serbian Krajina between 1992 amd 1994. ... The dinar was the currency of the Republika Srpska between 1992 and 1998. ... The dinar was the currency of South Yemen between 1965 and 1991. ... Obverse of 10 Yugoslav Dinars issued by the National Bank of Yugoslavia during 1960s Reverse of 10 Yugoslav Dinars issued by the National Bank of Yugoslavia during 1960s Yugoslav dinar was the official valute in former Yugoslavia. ... 20,000 Iranian rials The rial (ریال in Persian; ISO 4217 code IRR) is the official currency of Iran. ... e-dinar is a digital gold currency founded in 2000 by Zeno Dahinden, of Switzerland, Dato Abdul Rahman Shariff, of Malaysia, and Fernando Vadillo, of Spain. ...

Currencies of Asia and the Pacific
Central Afghan afghani | Kazakhstani tenge | Kyrgyzstani som | Mongolian tugrug | Russian ruble | Tajikistani somoni | Turkmenistani manat | Uzbek som
East Chinese yuan | Hong Kong dollar | Japanese yen | Macanese pataca | North Korean won | South Korean won | New Taiwan dollar
South-East Brunei dollar | Cambodian riel | Indonesian rupiah | Lao kip | Malaysian ringgit | Myanmar kyat | Philippine peso | Singapore dollar | Thai baht | US dollar (East Timor) | Vietnamese đồng
South Bangladeshi taka | Bhutanese ngultrum | Indian rupee | Maldivian rufiyaa | Nepalese rupee | Pakistani rupee | Sri Lankan rupee
West Armenian dram | Azerbaijani manat | Bahraini dinar | Cypriot pound | Egyptian pound | Georgian lari | Iranian rial | Iraqi dinar | Israeli new sheqel | Jordanian dinar | Kuwaiti dinar | Lebanese pound | Omani rial | Qatari riyal | Saudi riyal | Syrian pound | Turkish new lira | UAE dirham | Yemeni rial
Pacific Australian dollar (Kiribati, Nauru, Norfolk Island, Tuvalu) | CFP franc (French Polynesia, New Caledonia, Wallis and Futuna) | Cook Islands dollar | Fijian dollar | New Zealand dollar (Cook Islands, Niue, Tokelau, Pitcairn Islands) | Papua New Guinean kina | Samoan tala | Solomon Islands dollar | Tongan pa'anga | US dollar (American Samoa, Guam, Northern Mariana Islands, Marshall Islands, Federated States of Micronesia, Palau) | Vanuatu vatu
This box: viewtalkedit

  Results from FactBites:
 
USATODAY.com - Investors in new Iraqi dinar spur thriving Web trade (488 words)
Iraqis are serving dinars — and investors are flocking to the table.
The new Iraqi dinar, introduced in October, is now virtually worthless: It takes 1,460 dinars to equal $1, according to Bloomberg financial news service.
Unlike the worthless Saddam-era dinars, new dinars are difficult to counterfeit.
Iraqi Dinar News | Buy Iraqi Dinars (6166 words)
Iraqi investors have announced the establishment of two new private banks, which are: Al Mansur Investment Bank, with a capital 55 billion iraqi dinars (about 38 million dollars), and Tigris and Euphrates Bank for Development and Investment, with a capital of 25 billion iraqi dinars (about 17 million dollars).
An Iraqi economic expert attributed the continuing high conversion rate of the Iraqi dinar and the relative decrease in the value of the dollar to the adoption of strict monetary and fiscal policies by the government.
Since the foundation of the Iraqi State in 1922, a government was formed according to the Constitution and there became legislative, executive and legal powers, as well as the issuance of currency and thus, the Iraqi dinar had become the measuring unit that Iraqis deals by in the market.
  More results at FactBites »

 
 

COMMENTARY     


Share your thoughts, questions and commentary here
Your name
Your comments

Want to know more?
Search encyclopedia, statistics and forums:

 


Press Releases |  Feeds | Contact
The Wikipedia article included on this page is licensed under the GFDL.
Images may be subject to relevant owners' copyright.
All other elements are (c) copyright NationMaster.com 2003-5. All Rights Reserved.
Usage implies agreement with terms, 1022, m