Iraqi Dinar
دينار عراقي
Currency Code
IQD
ISO 368
Symbol
IQD
Native: د.ع
Decimal Digits
3
Rounding: 0
Countries
IQ
Using this currency
Currency Units
Major Unit
Name: dinar
Symbol: د.ع
Minor Unit
Name: fils
Symbol:
Value: 0.001
Banknotes
Frequently Used
250 د.ع500 د.ع1000 د.ع5000 د.ع10000 د.ع25000 د.ع50000 د.ع
Coins
Frequently Used
25 د.ع50 د.ع100 د.ع
Plural Forms
English Plural
Iraqi dinars
Native Plural
دينار عراقي
Overview
The Iraqi Dinar is the currency of Iraq, managed by the Central Bank of Iraq. It has faced significant challenges due to political instability, conflicts, and economic sanctions, but remains important due to Iraq's oil wealth.
Economy
- Iraq is a member of Arab League, OIC, OPEC, Non-Aligned Movement.
- Main industries include: Petroleum, Chemicals, Textiles, Leather, Construction materials, Food processing, Fertilizer, Metal fabrication/processing.
- Iraq is part of the World Trade Organization.
- Imports are food, medicine, manufactures.
- Major exports include crude oil, petroleum products, natural gas, chemical and petrochemical products.
- GDP: $264.2 billion (2023 est.).
- GDP per capita: $6,270 (2023 est.).
- Unemployment rate: 16.5% (2023 est.).
- Inflation rate: 5.1% (2023 est.).
- Main trading partners: China, India, Turkey, South Korea, Greece, Jordan.
- Trade agreements: Arab Free Trade Area, Various bilateral agreements.
History
- Previous currencies used: Indian rupee, Ottoman Turkish lira.
- The Iraqi dinar was introduced in 1931, replacing the Indian rupee. It has undergone several reforms due to wars, sanctions, and political changes.
- 1931: Iraqi dinar introduced, replacing Indian rupee
- 1990-2003: UN sanctions period
- 2003: US-led invasion, currency transition
- 2004: New Iraqi dinar introduced
- 2014-2017: ISIS conflict impact
- 2019-2020: Economic protests and reforms
- Exchange rate peg: Managed peg to USD with adjustments.
- Currently pegged to USD (managed peg with periodic adjustments) at Variable (approximately 1310 IQD per USD official rate).
General Information
- ISO 4217 Code: IQD
- Symbols: IQD/ع.د
- Currency Subunits: 1000 fils
- Central Bank: Central Bank of Iraq
- Monetary Policy: Managed exchange rate system with USD peg. Focus on stabilizing currency and supporting reconstruction efforts.
- Bills: 250 IQD, 500 IQD, 1000 IQD, 5000 IQD, 10000 IQD, 25000 IQD, 50000 IQD
- Coins: 25 dinars, 50 dinars, 100 dinars, 250 dinars, 500 dinars
- USD Exchange Rate: Variable (approximately 1310 IQD per USD official rate)
- Pegged To: USD (managed peg with periodic adjustments) at Variable (approximately 1310 IQD per USD official rate)
- Capital: Baghdad
- Population: 42,164,965 (2023 est.)
- Area: 438,317 km²
- Languages: Arabic (official), Kurdish (official), Turkmen, Syriac, Armenian
- Time Zones: UTC+3 (Arabia Standard Time)
- Government Type: Federal parliamentary republic
- Head of Government: President (head of state), Prime Minister (head of government)
- Independence: October 3, 1932 (from British Mandate)
- Ethnic Groups: Arab 75-80%, Kurdish 15-20%, Other 5%
- Religions: Muslim 95-98% (Shia 61-64%, Sunni 29-34%), Other 1%
- Literacy Rate: 85.6% (2017 est.)
- Transport: Baghdad International Airport, road networks under reconstruction, limited rail system, Basra port
- Communications: Rebuilding telecommunications, 49% internet penetration, mobile networks
- Energy: Oil 85%, Natural gas 10%, Hydroelectric 5%
- Countries Using This Currency: Iraq
- Data Sources: Central Bank: Central Bank of Iraq (cbi.iq), Economic Data: Central Statistical Organization Iraq, World Bank, IMF, Trade Data: Iraqi Ministry of Trade, Demographic Data: Central Statistical Organization Iraq, Geographic Data: Iraqi Meteorological Organization, Historical Data: Central Bank of Iraq archives
- Last Updated: 2025