Determining the Value of the Dinar

By on August 6, 2013

Dinar currency value

The dinar, which is the currency used in Iraq, was introduced into circulation in 1932. Much like other currencies, the dinar is constantly monitored all around the world in order to determine its value. While many people follow the increasing and decreasing value of the dinar, they tend to utilize this information for different reasons. By keeping an eye on current events and trends occurring in Iraq, a person can learn when to choose to convert dinars to US dollars.

United States involvement in Iraq had a large impact on its currency value. Before the United States invaded Iraq in 2003, the value of American dollars in relation to Iraqi dinars was one dollar to 3000 dinars. In 2011, when the last American troops were withdrawn from Iraq, the value of the dinar changed dramatically. Today, and during much of 2012, one dollar has become equivalent to about 1,200 dinars. Even back in 1991, following the Gulf War, dinars starting to be printed on inferior paper with poor quality lithography, and this also affected their value.

Another way to determine the value of the dinar is to compare it to fils. The dinar is currently equivalent to 1,000 fils, which are used in many Arab countries as a subdivision of currency. While the Central Bank of Iraq can issue fils, they are generally seen as obsolete due to inflation. Coins were also produced in Iraq until 1990. These coins were valued by how many fils they were, and eventually a 1,000 fils, or one dinar, coin was produced. Since inflation took its toll on the value of fils in relation to dinars, the coins proved to be obsolete and were withdrawn from production.

It is important to follow current events before ultimately deciding to convert dinars to US dollars. By researching market trends and news in Iraq, you can determine what has an effect on Iraqi dinar value. Even just a brief glimpse at the news can give you information about the current state of Iraq, and people have been relying on this for years before they choose to convert dinars to US dollars.

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19 Comments

  1. Herbert Vasquez

    November 14, 2013 at 6:49 pm

    Do people really invest in dinars? I guess all currency investment seems risky to me, but in Iraq currency? It is such an unstable country, I cant imagine many people cashing out on top.

  2. Laura Flores

    March 11, 2014 at 5:36 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

  3. Tim Mcdonald

    April 10, 2014 at 8:04 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

  4. Hector Carpenter

    May 11, 2014 at 3:03 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

  5. Edward Diaz

    June 10, 2014 at 3:05 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

  6. Vincent Flores

    July 10, 2014 at 3:06 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

  7. Dennis Gonzales

    August 9, 2014 at 3:08 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

  8. Thomas Hughes

    September 8, 2014 at 3:09 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

  9. Don Parks

    October 8, 2014 at 3:10 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

  10. Max Lowe

    November 7, 2014 at 4:06 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

  11. Scarlett Meyer

    December 7, 2014 at 4:08 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

  12. Wayne Burke

    January 6, 2015 at 4:09 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

  13. Jack Frahm

    February 5, 2015 at 4:11 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

  14. James Williamson

    March 7, 2015 at 4:10 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

  15. Aaron Butler

    April 6, 2015 at 3:11 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

  16. Tony Stephens

    May 6, 2015 at 3:12 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

  17. Derek Jensen

    June 5, 2015 at 3:12 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

  18. Leonard hawkins

    July 5, 2015 at 3:13 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

  19. Brad Bishop

    August 4, 2015 at 3:15 pm

    What kind of reasons do people use Iraqi current events for? I mean to see what the value of the dinar is, yes, but why do people choose to know this kind of information? And why know about the exchange rates? So you can plan a vacation to Iraq?

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