IQDIraqi DinarIraqi Dinar (IQD)
The Iraqi dinar is Iraq's national currency and is used for domestic prices, public budgets, salaries and local banking records.
- ISO code
- IQD
- Symbol
- IQD
- Region
- Middle East
- Currency type
- Fiat currency
- Exchange system
- IQD operates under the Central Bank of Iraq's national monetary and foreign-exchange framework.
- Last reviewed
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Quick facts
IQD at a glance
Currency profile
How IQD works
The Iraqi dinar is Iraq's national currency and is used for domestic prices, public budgets, salaries and local banking records.
The Central Bank of Iraq issues IQD and administers Iraq's monetary and foreign-exchange framework. One dinar is formally divided into 1,000 fils.
- Iraq introduced the dinar in 1932 to replace the Indian rupee in domestic use.
- A new national banknote series entered circulation in 2003 and replaced the separate issues then circulating.
Context
Why this currency matters
IQD attracts substantial misinformation, especially claims about guaranteed future revaluation. A responsible reference page should focus on the current unit, official issuer and dated provider data, not speculative investment narratives. Iraq's oil receipts and central-bank foreign-exchange mechanisms make the policy context more relevant than promotional claims about banknotes.
Monetary framework
Exchange arrangement
IQD operates under the Central Bank of Iraq's national monetary and foreign-exchange framework.
CurrencyHub shows daily reference rates. Banks, card networks, ATMs and transfer providers may apply different exchange rates, fees or spreads.
History timeline
Key dates for IQD
Iraqi dinar introduced
The dinar replaced the Indian rupee as Iraq's national currency.
Central Bank of IraqNational central bank established
Iraq established a central banking institution responsible for the monetary system.
Central Bank of IraqNew banknote series issued
A unified post-2003 banknote series replaced the different issues then in circulation.
Central Bank of Iraq
Usage and economy
How IQD is used
- Iraqi dinars denominate local retail prices, salaries, taxation and public expenditure.
- KWD, JOD, SAR and TRY provide useful regional comparison currencies.
Banknotes and coins
IQD currency units
Central Bank of Iraq is the authoritative source for the current IQD banknote framework.
Central Bank of Iraq is the authoritative source for the current IQD coin framework.
One Iraqi Dinar unit is recorded with 3 decimal places and uses Fils as its minor unit.
Related currencies
Currency relationships
Explore currencies connected through regional use, trade comparisons or monetary relationships.
FAQ
IQD questions
What currency did the Iraqi dinar replace?
IQD replaced the Indian rupee in Iraq in 1932.
How many fils are in one Iraqi dinar?
One Iraqi dinar is formally divided into 1,000 fils.
Does CurrencyHub predict an IQD revaluation?
No. CurrencyHub provides dated reference-rate information and does not make investment or revaluation forecasts.
Sources
Data and editorial review
Rate source: Frankfurter
Last reviewed:
Currency identity and cash information is checked against central-bank, government, ISO and official international sources.