Rujuk kajian kes di atas – sejarah yang pernah belaku di Afghanistan dan Kuwait dan di bawah pula ialah Sejarah Dinar Iraq

History of the Iraqi Dinar – see the timeline of events that has occurred in the recent past that has affected the value of the Dinar. The Iraqi Dinar is currently at the lowest ever value and is expected to climb at a very rapid pace.


Currency unit consists of 1,000 fils or 20 dirhams. When officially introduced at the end of the British mandate (1932), the dinar was equal to, and was linked to, the British pound sterling, which at that time was equal to US$4.86.


Iraqi dinar (ID) equalled US$4.86 between 1932 and 1949 and after devaluation in 1949, equalled US$2.80 between 1949 and 1971.

Iraq officially uncoupled the dinar from the pound sterling as a gesture of independence in 1959, but the dinar remained at parity with the pound until the British unit of currency was again devalued in 1967.

One Iraqi dinar remained equal to US$2.80 until December 1971, when major realignments of world currencies began.

Upon the devaluation of the United States dollar in 1973, the Iraqi dinar appreciated to US$3.39.

It remained at this level until the outbreak of the Iran-Iraq War in 1980.

In 1982 Iraq devalued the dinar by 5 percent, to a value equal to US$3.22, and sustained this official exchange rate without additional devaluation despite mounting debt.

In early 1988, the official dinar-dollar exchange rate was still ID1 to US$3.22; however, with estimates of the nation’s inflation rate ranging from 25 percent to 50 percent per year in 1985 and 1986, the dinar’s real transaction value, or black market exchange rate, was far lower-only about half the 1986 official rate.

1986–2003 Exchange rate was between .33 cents to 1.32 to a dollar.

In October 2003, the official dinar-dollar exchange rate was ID1 to US$0.00027.

August 2004 till 2005, the official dinar-dollar exchange rate is ID1 to US$0.00068. Population: 25,374,691 (July 2004 estimate.)