IQD (Iraqi Dinar)

AAA

DEFINITION of 'IQD (Iraqi Dinar)'

The currency abbreviation or currency symbol for the Iraqi dinar (IQD), the currency of Iraq. The Iraqi dinar is made up of 1,000 fils. The dinar replaced the Indian rupee as the country's national currency, and is issued by the Central Bank of Iraq.

INVESTOPEDIA EXPLAINS 'IQD (Iraqi Dinar)'

The dinar was first seen in 1931 and was pegged with the British pound until 1959. It was pegged to the U.S. dollar thereafter, and the dinar was worth over $3 in U.S. currency until the Gulf War. The dinar devalued drastically at that point, but new currency was issued and this new currency has been valued at a set rate by the International Monetary Fund.

RELATED TERMS
  1. Quote Currency

    The second currency quoted in a currency pair in forex. In a ...
  2. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
  3. Currency Pair

    The quotation and pricing structure of the currencies traded ...
  4. Forex Futures

    An exchange-traded contract to buy or sell a specified amount ...
  5. Authorized Forex Dealer

    Any type of financial institution that has received authorization ...
  6. Currency

    A generally accepted form of money, including coins and paper ...
Related Articles
  1. A Primer On The Forex Market
    Options & Futures

    A Primer On The Forex Market

  2. Currency Exchange: Floating Rate Vs. ...
    Forex Education

    Currency Exchange: Floating Rate Vs. ...

  3. Top 7 Questions About Currency Trading ...
    Forex Education

    Top 7 Questions About Currency Trading ...

  4. 6 Factors That Influence Exchange Rates
    Bonds & Fixed Income

    6 Factors That Influence Exchange Rates

comments powered by Disqus
Hot Definitions
  1. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  2. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  3. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  4. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  5. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
  6. Over The Counter

    A security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, etc. The phrase "over-the-counter" ...
Trading Center