Iraq Dinar -

: Oil revenues account for over 90% of Iraq's federal income. This rentier economy leaves the dinar's stability vulnerable to fluctuations in global oil prices.

: After the 2003 invasion, a new dinar was issued at par to the Saddam-era notes. The Central Bank of Iraq (CBI) devalued the currency to 1,460 IQD/$1 in 2020 to preserve reserves but revalued it to 1,300 IQD/$1 in 2023 to combat rising costs. 1 IQD equals $0.00076205 As of Apr 27, 9:05 PM EDT • Disclaimer Apr 27, 2026 The "Revaluation" (RV) Controversy

: A persistent online community promotes the theory of an imminent "Global Currency Reset," claiming the IQD will suddenly return to its pre-1990 value (over $3.00). IRAQ DINAR

: Introduced in 1932 to replace the Indian rupee, the dinar was initially at par with the British pound. In 1959, it shifted its peg to the U.S. dollar at a rate of IQD 1 = $2.80, eventually rising to over $3.20 before the 1990 Gulf War.

: Iraqi oil revenues are held at the Federal Reserve Bank of New York . Recent tightening of international transfer rules by the U.S. to prevent money laundering has led to dollar shortages and a gap between official and "street" exchange rates. : Oil revenues account for over 90% of Iraq's federal income

: Following the Gulf War and UN sanctions, the "Saddam Dinar" was printed on low-quality paper. Hyperinflation caused its value to plummet; by 1995, it traded at roughly 3,000 dinars per $1.

: Budget deficits and the high cost of public sector payrolls have occasionally forced the government to consider devaluations to manage liquidity. The Central Bank of Iraq (CBI) devalued the

The Iraqi dinar (IQD) is a currency deeply tied to the nation's turbulent economic history, geopolitical shifts, and heavy dependence on global oil markets. Historical Trajectory