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In February 1973, the dinar was pegged to the US dollar at a rate of 0.29679 dinar per dollar (LD 1 = US$3.37), which was maintained until 1986. The peg was switched to the special drawing rights on 18 March 1986, with 1 dinar = 2.80 SDRs. On 1 May 1986, the dinar was allowed to trade in a 7.5% range of 2.80 SDRs.
The dinar did not follow the devaluation of the French franc in 1958, thus the exchange rate peg was abandoned. Instead a peg to the United States dollar of 1 dinar = 2.38 dollars was established which was maintained until 1964, when the dinar devalued to 1 dinar = 1.90 dollars. This second rate was held until the dollar was devalued in 1971.
The currency was ultimately replaced by the silver dollar at the rate of 1 silver dollar to 1000 continental dollars. This resulted in the clause "No state shall... make anything but gold and silver coin a tender in payment of debts" being written into the United States Constitution article 1, section 10.
The currency's fixed exchange rate and restricted trading options make it an particularly unattractive investment for international investors. As of September 2024, one U.S. dollar remains worth approximately 1,310.6 Iraqi dinars, underscoring the currency's current limited international value and speculative nature. [36]
In 2010, the organization suffered the worst loss of life in its history, when 101 personnel died in the Haiti earthquake. [81] Acting under the United Nations Security Council Resolution 1973 in 2011, NATO countries intervened in the First Libyan Civil War. The Millennium Summit was held in 2000 to discuss the UN's role in the 21st century. [82]
Inflation was curbed somewhat by Mussolini, who, on 18 August 1926, announced a new exchange rate between the lira and sterling of £1 = Lit 92.46 (the so-called Quota 90) although the free exchange rate had been closer to Lit 140–150 to the pound, causing a temporary deflation and widespread problems in the real economy.
This section is missing information about value in year 2000 US dollar equivalents (currently we have a mix of different nations’ dollars from different times, which isn’t easy to compare); some way to compare per-year/QALY value with whole-life value. Please expand the section to include this information.
Transaction values are given in the US dollar value for the year of the merger, adjusted for inflation. As of February 2024 [update] , the largest ever acquisition was the 1999 takeover of Mannesmann by Vodafone Airtouch plc at $183 billion ($334.7 billion adjusted for inflation).