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. Currency

    A generally accepted form of money, including coins and paper ...
  2. Forex - FX

    The market in which currencies are traded. The forex market is ...
  3. Quote Currency

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

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

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

    An exchange-traded contract to buy or sell a specified amount ...
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

Hot Definitions
  1. Return On Sales - ROS

    A ratio widely used to evaluate a company's operational efficiency. ROS is also known as a firm's "operating profit margin". ...
  2. Halloween Strategy

    An investment technique in which an investor sells stocks before May 1 and refrains from reinvesting in the stock market ...
  3. Halloween Massacre

    Canada's decision to tax all income trusts domiciled in Canada. In October 2006, Canada's minister of finance, Jim Flaherty, ...
  4. Zombies

    Companies that continue to operate even though they are insolvent or near bankruptcy. Zombies often become casualties to ...
  5. Witching Hour

    The last hour of stock trading between 3pm (when the bond market closes) and 4pm EST. Witching hour is typically controlled ...
  6. October Effect

    The theory that stocks tend to decline during the month of October. The October effect is considered mainly to be a psychological ...
Trading Center