The dinar was introduced into circulation in 1932, by replacing the Indian Rupee, which had been the official currency since the British occupation of the country in World War I, at a rate of 1 dinar = 11 rupees. The dinar was pegged at par with the British Pound until 1959 when, without changing its value, the peg was switched to the United States dollar at the rate of 1 dinar = 2.8 dollars. By not following the devaluations of the U.S. currency in 1971 and 1973, the dinar rose to a value of USD $3.3778, before a 5 percent devaluation reduced the value of the dinar to US$3.2169, a rate which remained until the Gulf War, although in late 1989, the black market rate was reported at five to six times higher (3 dinars for US$1) than the official rate.
After the Gulf War in 1991, due to UN sanctions, the previously used Swiss printing method was no longer available so new, inferior quality, notes were produced. The previously produced notes became known as the Swiss dinar and continued to circulate in the Kurdish region of Iraq. Due to sanctions placed on Iraq by the United States and the international community along with excessive government printing, the new dinar notes devalued quickly. By 1995, ate was $1 USD to 3,000 IQD.
Today, the Iraqi Dinar remains a highly collectible foreign currency, with the rates remaining very stable and consistent over the last several years. The Iraqi Dinar currency is quite arguably, the worlds most collectible foreign currency available. With the release of the 50'000 IQD banknote in early 2016, the desire to collect this currency has only grown.
We do NOT believe the Iraqi Dinar to be a globally traded or recognized currency. Therefore, the Iraqi Dinar possesses only a collectible value within the United States at this time. We do not claim, indicate, suggest, or imply that the Iraqi Dinar will ever be instated, or activated as a globally recognized currency at anytime. We do not claim, indicate, suggest, or imply there will ever be an Iraqi Dinar RV (Revalue / revaluation), or a re-denomination of the Iraqi Dinar. We are not an investment company and no information on this site or any document shall be misconstrued as investment advice, or information. All currency is sold strictly for collectible purposes only. We do not claim, suggest nor promise financial gain from purchasing this currency, or any other currency we offer or sell. By purchasing this currency, you hereby agree to not use this currency for investment purposes, and that you understand this currency is sold strictly as a collectible currency.