Exchange Rate From Iraqi Dinar To Us Dollar
The Iraqi Dinar (IQD) is the official currency of Iraq. It was introduced in 1932 and is currently issued by the Central Bank of Iraq. The US Dollar (USD) is the official currency of the United States and is the most widely used currency in international transactions.
The exchange rate between the Iraqi Dinar and the US Dollar is an important indicator of the economic stability of Iraq. The exchange rate is determined by the supply and demand of the currencies in the foreign exchange market.
History of the Iraqi Dinar
The Iraqi Dinar has a complex history, with many changes to its value and denomination. In the 1980s, the Iraqi Dinar was one of the strongest currencies in the world, with an exchange rate of 1 IQD to 3.20 USD. However, the Gulf War and the economic sanctions imposed on Iraq in the 1990s caused the value of the Iraqi Dinar to plummet.
After the fall of Saddam Hussein's regime in 2003, the Iraqi Dinar was revalued and new banknotes were introduced. Since then, the exchange rate of the Iraqi Dinar has fluctuated, but it has remained relatively stable in recent years.
Current Exchange Rate
As of August 2021, the exchange rate between the Iraqi Dinar and the US Dollar is approximately 1 IQD to 0.00068 USD. This means that one US Dollar can buy approximately 1,470 Iraqi Dinar.
It is important to note that the exchange rate can fluctuate daily, and the actual rate you receive may vary depending on the currency exchange provider you use.
Factors That Affect the Exchange Rate
The exchange rate between the Iraqi Dinar and the US Dollar is influenced by many factors, including:
- Political stability in Iraq
- The supply and demand of the currencies in the foreign exchange market
- The price of oil, as Iraq is a major oil-producing country
- The monetary policies of the Central Bank of Iraq and the Federal Reserve
- The economic performance of Iraq and the United States
How to Exchange Iraqi Dinar to US Dollars
If you have Iraqi Dinar that you want to exchange for US Dollars, there are several options available to you:
- Visit a currency exchange provider or bank that offers Iraqi Dinar exchange services
- Use an online currency exchange service
- Exchange your Iraqi Dinar at an airport currency exchange booth
When exchanging currency, it is important to compare exchange rates and fees to ensure that you are getting the best deal.
Conclusion
The exchange rate between the Iraqi Dinar and the US Dollar is an important indicator of the economic stability of Iraq. While the exchange rate has fluctuated over the years, it has remained relatively stable in recent years. The exchange rate is influenced by many factors, including political stability, supply and demand, and economic performance. If you have Iraqi Dinar that you want to exchange for US Dollars, there are several options available to you.