IQD

DEFINITION of 'IQD'

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

BREAKING DOWN 'IQD'

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 currency has been valued at a set rate by the International Monetary Fund.

RELATED TERMS
  1. Currency

    Currency is a generally accepted form of money, including coins ...
  2. Hard Currency

    A currency, usually from a highly industrialized country, that ...
  3. Forex - FX

    The market in which currencies are traded. The forex market is ...
  4. Money

    An officially-issued legal tender generally consisting of currency ...
  5. After-Hours Trading - AHT

    Trading after regular trading hours on the major exchanges. The ...
  6. Ex Works (EXW)

    An international trade term requiring the seller to make goods ...
Related Articles
  1. Forex Fundamentals

    What Causes A Currency Crisis?

    Find out what can cause a currency to collapse, and what central banks can do to help.
  2. Forex Education

    The Greatest Currency Trades Ever Made

    These speculators took big positions - and scored huge profits - in the currency market.
  3. Forex Education

    The New World Of Emerging Market Currencies

    Take advantage of foreign currency markets without stepping out of your house.
  4. Investing

    George Soros: 3 Best Investments Ever

    Learn about some of the most successful trades famed investor George Soros has made during his career, including a billion dollar profit against the pound.
  5. Personal Finance

    5 Places Where Your Travel Dollar Goes Furthest

    The dollar is pretty strong right now, but where is it strongest? Canada? South Africa? Europe? Here are five places to travel to right now on a budget.
  6. Investing

    3 Things About International Investing and Currency

    As world monetary policy continues to diverge rocking bottom on interest rates while the Fed raises them, expect currencies to continue their bumpy ride.
  7. Fundamental Analysis

    How Globalization Affects Developed Countries

    The increase in communications technology has companies competing in a global market.
  8. Investing News

    Chinese Currency Devaluation Hits Global Economy

    China's surprise currency devaluations have sent shock waves through the world. Here’s how they could impact the global economy.
  9. Investing

    2 Opportunities Amid Today’s Market Volatility

    As you prepare your portfolio for the market volatility ahead this year, here are a few investing ideas to consider.
  10. Forex

    How 2016 Could Be A Disaster for These Currencies

    Tanking oil prices, slowing BRIC growth, and general instability do not bode well for these currencies.
RELATED FAQS
  1. Is Bitcoin legal in the US?

    The digital currency known as bitcoin was created in 2009 by a person called Satoshi Nakamoto, but whose true identity has ... Read Full Answer >>
  2. Who decides when to print money in India?

    The Reserve Bank of India, or RBI, manages currency in India. The bank's additional responsibilities include regulating the ... Read Full Answer >>
  3. How is a block chain network useful for trading goods and assets in virtual currencies?

    Perhaps the most famous quote associated with blockchain technology came from an anonymous virtual currency user, who described ... Read Full Answer >>
  4. What types of companies benefit from reporting results utilizing constant currencies ...

    Any company that does a substantial amount of business in foreign countries, and is therefore subject to foreign currency ... Read Full Answer >>
  5. What are key benefits to a country that has engaged in a policy of currency depreciation?

    In the modern world, most currencies represent fiat money not backed by any commodity or precious metal and whose value is ... Read Full Answer >>
  6. How does a block chain prevent double-spending of Bitcoins?

    Double-spending – the incidence of one individual successfully spending a Bitcoin balance more than once – is a major concern ... Read Full Answer >>
Hot Definitions
  1. Liquidation Margin

    Liquidation margin refers to the value of all of the equity positions in a margin account. If an investor or trader holds ...
  2. Black Swan

    An event or occurrence that deviates beyond what is normally expected of a situation and that would be extremely difficult ...
  3. Inverted Yield Curve

    An interest rate environment in which long-term debt instruments have a lower yield than short-term debt instruments of the ...
  4. Socially Responsible Investment - SRI

    An investment that is considered socially responsible because of the nature of the business the company conducts. Common ...
  5. Presidential Election Cycle (Theory)

    A theory developed by Yale Hirsch that states that U.S. stock markets are weakest in the year following the election of a ...
Trading Center