You can buy iraqi dinar if you really want to. I cannot imagine why you would, unless your big, exciting vacation to Iraq is closer than I thought. There is no other place in the world that uses the iraqi dinar, and Iraq does not even use it for their chief export, oil. They use the American dollar when trading oil. Which just goes to show you how much America uses Iraqi oil. But I am not here to talk about the disgusting fossil fuel dependency that is ruining the environment and our country, I am here to discuss how neat the Iraqi dinar is.
Before the Gulf War, anything printed before then was known as the Swiss dinar. Not because is was printed in Switzerland, but because the technology utilizeds was a Swiss printing technology. In 1991, the Iraqis saw the introduction of the 50 and 100 dinar notes, and the 250 dinar note followed in 1995. And despite the collapse of the value of the Iraqi dinar, the highest denomination note stayed at 250 until 2002, when they introduced the 10,000 Iraqi dinar note.
When it comes time to convert dinars to US dollars, you need to look at the market. Because it did not follow the devaluation of the US dollar in 1971 and 1973, one of the Iraqi dinar equaled $3.3778 in American currency. However, current dinar value is drastically lower. Every United States dollar equals a staggering 1,260 Iraqi dinar. That is the highest that it has ever been. Meaning, to get one of those 10,000 dinar notes, you only need to pay just under eight US dollars. If only my college debt was in the Iraqi dinar…
Despite the fact that it does not hold a candle to the value of our currency, and that it is barely used anywhere in the world save for Iraq, and even they are hesitant to use it some times, the Iraqi dinar is still a fascinating currency. It is neat to learn about and to see how it is utilized. Not to mention looking at its cultural and economical significance throughout the years.