IRAQ

(IQD) Currency News >>

CURRENCY:

Iraqi Dinar - IQD, Symbol ID

DENOMINATIONS:

NOTE: ID25,000, 10,000, 5,000, 1,000, 500, 250 and 50.

COIN: ID100 and 25.

NOTE: All information on Iraq is subject to change.

US DOLLAR ACCEPTED?

Yes up to USD 200 or equivalent.

CREDIT/DEBIT CARDS AND ATMS:

CASH is preferred. There are NO ATM machines in Iraq. The banking and financial system of Iraq is undergoing much rebuilding work so most establishments do not accept credit cards.

CURRENCY EXCHANGE:

You can use foreign currency up to the value of USD 200 in some shops in Baghdad. Check in advance.

TRAVELLER'S CHEQUES:

Not recommended as not accepted.

BANKING HOURS:

Sat-Wed 0800-1230 Thurs 0800-1100 PLEASE NOTE: Banks close at 1000 during Ramadan.

CURRENCY RESTRICTIONS:

N/A

COUNTRY OVERVIEW:

Iraq's full name is the Republic of Iraq and is located in Western Asia. The history of Iraq is steeped in rich and ancient cultures and can be dated back to ancient Mesopotamia. The capital is Baghdad and the official languages are Arabic and Kurdish. There has been major unrest in Iraq since the invasion of 2003 by mainly British and American coalition troops, and the removal and execution of the former authoritarian President Sadddam Hussein.

POPULATION:

Around 30 million.

ECONOMY:

The economy of Iraq is mainly centred around the oil sector. This has suffered however due to an eight-year war in the 1980s which caused damage to the export facilities of oil. The country then suffered great debts due to said war, and in 2004 some of the debt was written off by the Paris Club. There is much reconstruction being undertaken by the new government of Iraq, both using local resources and international assistance.