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Iraqi dinar
Iraq officially uses the dinar as the local currency. There are no coins in circulation.
Currency regime
The dinar effectively floats against the major currencies with the authorities controlling the number of dinars in circulation.
Commercial rates
As at April 6th 2006, the dinar was trading around 1,475 against the dollar, 1,813 against the Euro and 2,584 against Sterling.
Important note. There are various schemes in operation selling Iraqi dinars as an investment. These schemes are highly speculative in nature at best and effectively involve investors taking a gamble on the Iraqi economy. There is a high risk that investors will lose money and these schemes are best avoided.
Tourist rates
On April 5th 2006 the dinar was valued at around 2,520 against Sterling. For 1 UK pound you will, therefore, receive around 2,520 dinars.
The import and export of dinars is effectively banned. Travellers cheques should not be taken.
Cash is best taken in Euros or US dollars.
Buy your holiday and travel currency - Buy online securely with extra convenience and get better tourist rates than at the banks.