What bank will cash in Iraqi dinar?
Sell your dinars to banks. There are several banks in the Middle East that will purchase dinars. Three of these banks are the Central Bank of Iraq, the National Bank of Jordan, and the National Bank of Kuwait (see Resources). You will need to contact the banks directly and discuss their policies and procedures.
Will the Iraqi Dinar ever go up in value?
There has been an increase in the value of the Dinar; although it has been slow. A true Iraqi Dinar reevaluation does show growth. As the region stabilizes and commerce and industry return the dinar has shown some improvement. Investing in the dinar is a good way to buy low and eventually sell high.
How do I sell my dinar?
Generally, if you need the money right now it’s best to simply sell your Dinar to a leading dealer who will offer a fair price.
What happened to the Iraqi dinar?
The Iraqi dinar and its economy were shattered during Saddam ‘s reign. Now after the death of Saddam, the nation is showing improvement in the Iraqi Dinar, quality life, economy, and other factors that is supporting the nation to attain its previous lavishness.
Did you know this about Iraqi dinar?
Iraqi Dinar History. During British occupation in World War I, the Indian Rupee was introduced as the first official currency of Iraq. In 1932, the Iraqi Dinar replaced the Rupee at a rate of 1 Dinar to 11 Rupees and was pegged to the British Pound until 1959. The peg was then switched to the US Dollar at a rate of 1 IQD to 2.8 USD.
What is the currency in Iraq?
The Iraqi dinar is the current official currency in Iraq and is abbreviated in the international money markets as IQD. The Iraqi dinar is made up of subunits known as fils, with 1 Iraqi dinar being equivalent to 1000 fils, and therefore is decimalized unlike its predecessor, the Indian rupee.
Will Iraq revalue its currency?
Iraq is planning to revalue its currency, the dinar, cutting three zeros from its notes. The purchasing power of the dinar will remain unchanged if the government adopts the correct measures, writes Thaka’ Mokhless al-Khalidi.