What Is the Iraqi Dinar?
First introduced in 1932, the Iraqi Dinar replaced the Indian rupee. Initially pegged to the British pound until 1959, it was then pegged to the US dollar. Post the Gulf War, in the early 1990’s, the value of the currency depreciated extensively. In 2003, new notes, better in quality, were printed and issued. This enabled the entire country to use one currency for their financial transactions.
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