Present Condition of the Iraqi Dinar
Present Condition:
The present condition of the Iraqi dinar ( IQD ) is 1.00 IQD = 0.000865335 USD, or 0.000621929 EUR. This fluctuates slightly even during a given day, as can be seen by the currency exchange table released earlier the same day:
| Currency Unit | Units per IQD | IQD per Unit | |
| EUR | Euro | 0.0006196910 | 1,613.7074023754 |
| USD | United States Dollars | 0.0008620548 | 1,160.019067996 |
(Chart accurate as of publish date and does not reflect actual current conditions)
This means that 1 euro can purchase approximately 1,607.45 IQD and 1 USD can purchase 1,155.50 IQD. The current value of the Iraqi dinar is very low on a global scale, but this can be a great benefit to potential investors.
The world's current demand for oil is the most common news headline right now concerning the Iraqui dinar. Iraq holds the world's third-largest known oil reserves. Production is relatively low due to years of war, but the country still exports 1.9 million barrels of oil a day.
Since the Iraqi dinar has been in the news for years, it is no longer a new fad. That means that the demand is lower, and the price is accordingly lower as well. This means it could be a good time to buy this currency where affordability is the prime concern.
Sources:
http://www.xe.com/ict/
http://www.safedinar.com/Iraqi_Dinar_News_Detail.asp?nID=3070