The Dinar is the official Iraqi currency. It was first introduced into circulation in 1932. Between the years 1947 and 1954, the National Bank of Iraq issued Iraqi dinar banknotes. However, after 1954, the Central Bank of Iraq took over this task. Until 1959, the Iraqi Dinar exchange rate was one to one with the British pound.
The Iraqi Dinar exchange rate has had an interesting history. During the past couple of decades, the Dinar exchange rate has been particularly volatile. The last United States troops withdrew from Iraq in late 2011, at which point the war had been going on for almost a decade. Saddam Hussein, the Iraqi president, has been overthrown and killed. The dinar exchange rate swung and plummeted.
From 1990 to 2003, banknotes were issued bearing the face of Saddam Hussein. This was al