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The pre-1990 notes became known as Swiss dinars while the new dinar notes were called Saddam dinars. Due to United States and the international sanctions on Iraq along with excessive government printing, the Saddam dinar currency devalued quickly. By late 1995, US$1 was valued at 3,000 Saddam dinars on the black market.
Iraqi Swiss dinar; دينار سويسري Denominations; Banknotes: 1 ⁄ 4, 1 ⁄ 2, 1, 5, 10, 25 dinars (Iraqi dinar banknotes issued before the beginning of the Gulf War and Iraqi dinar banknotes bearing the image of former Iraqi leader Saddam Hussein) Demographics; User(s) Iraq Kuwait (1990-1991) Issuance; Central bank: Central Bank of Iraq
After the fall of Saddam Hussein's government, the Central Bank of Iraq was established as Iraq's independent central bank by the Central Bank of Iraq Law 2004, with authorised capital of 100 billion dinars. [12] According to the law, 100% of the bank's capital stock would be held by the State and would not be transferable. [13]
Iraq has more than 70 private banks, a relatively new feature in a sector that was almost entirely controlled by the state until Saddam Hussein was toppled in the U.S. invasion of 2003. Of those ...
Dozens of people protested in front of the Central Bank of Iraq in Baghdad and bank owners called for official action to stem a sharp increase in the dollar exchange rate Wednesday, after the ...
Because of the economic potential of Iraq, a niche market for Iraqi Dinar currency has emerged. Speculators are making investments in the Iraqi Dinar in hopes of receiving a return once Iraq stabilizes as a country. Jim Cramer's October 20, 2009 endorsement of the Iraqi Dinar on CNBC has further piqued interest in the investment. [22]
Morally devastating experiences in Iraq and Afghanistan have been common. A study conducted early in the Iraq war, for instance, found that two-thirds of deployed Marines had killed an enemy combatant, more than half had handled human remains, and 28 percent felt responsible for the death of an Iraqi civilian.
Saddam Hussein [c] (28 April 1937 – 30 December 2006) was an Iraqi politician and revolutionary who served as the fifth president of Iraq from 1979 to 2003. He also served as prime minister of Iraq from 1979 to 1991 and later from 1994 to 2003.