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The Iraqi dinar[ a ] (code: IQD) [ 2 ] is the currency of Iraq. The Iraqi dinar is issued by the Central Bank of Iraq (CBI). On 7 February 2023, the exchange rate with the US Dollar was US$1 = 1300 dinars.
The National Bank of Iraq became the Central Bank of Iraq in 1956. [5] Since switching over to its own central bank, the Iraqi monetary system was "replete with mismanagement, coercive stop-gap measures, and the production of an unstable, unreliable currency which ha[d] not been tradeable on the international market for [many] years".
The economy of Iraq is dominated by the oil sector, which has provided about 99.7% of foreign exchange earnings during its modern history. [18] As of 2021, the oil sector provides about 92% of foreign exchange earnings. [19] Iraq 's hitherto agrarian economy underwent rapid development following the 14 July Revolution (1958) which overthrew the ...
Iraq has banned eight local commercial banks from engaging in U.S. dollar transactions, taking action to reduce fraud, money laundering and other illegal uses of U.S. currency days after a visit ...
v. t. e. This is a list of countries by their exchange rate regime. [1] De facto exchange-rate arrangements in 2022 as classified by the International Monetary Fund. Floating (floating and free floating) Soft pegs (conventional peg, stabilized arrangement, crawling peg, crawl-like arrangement, pegged exchange rate within horizontal bands) Hard ...
After the Gulf War, the Iraqi government disendorsed the old currency, favoring newly printed Saddam dinars, and the Swiss dinar ceased to be legal tender. However, the old currency still circulated in the politically isolated Kurdistan region of Iraq. The government of the Kurdistan region did not have the printing plates of the Swiss dinar ...
Present currency ISO 4217 code Country or dependency (administrating country) Currency symbol Algerian dinar: DZD Algeria: دج (Arabic) or DA (Latin) Bahraini dinar [1] BHD Bahrain.د.ب [2] Iraqi dinar [3] IQD Iraq: ع.د [4] Jordanian dinar [5] JOD Jordan: ينار [6] Kuwaiti dinar [7] KWD Kuwait: ك [7] Tunisian dinar: TND Tunisia
Foreign exchange reserves, also called Forex reserves, in a strict sense, are foreign-currency deposits held by nationals and monetary authorities.However, in popular usage and in the list below, it also includes gold reserves, special drawing rights (SDRs) and IMF reserve position because this total figure, which is usually more accurately termed as official reserves or international reserves ...