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Five Facts You Need to Know About Investing in Iraqi Dinar

Posted on September 17, 2013 by admin

The iraqi dinar

In spite of the fact that you will more than likely be hard pressed to find a financial advisor who would suggest investing in Iraqi currancy, here are a few interesting facts about Iraqi dinar and Iraqi dinar exchange rate history that you should know anyway.

1. The dinar was first introduced into circulation in 1932 and has gone through quite a few changes since that time.

2. As is generally the tradition in many countries, banknotes that were issued between 1990 and October 2003 that bore an idealized engraving of former Iraqi President Saddam Hussein. These have of course been discontinued since the fall of his dictatorship.

3. In spite of the collapse in the value of the iraqi dinar, the highest denomination printed until 2002 was 250 dinars and only more recently had higher banknotes introduced into circulation.

4. In 2003, new banknotes were issued consisting of six denominations including the 50, 250, 1,000, 5,000, 10,000, and 25,000 dinar.

5. 1,260 Iraqi dinars are now trading to the dollar. Even though this might not seem like a very impressive feat for the Iraqi currancy, this is actually a level that has not been reached since last year.

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