Buy Now

1220 dinar for every $1 (USD)

Our current Dinar to Dollar rate is approximately 1220 dinar for every $1 (USD). The exchange rate for this currency fluctuates as with any currency, please contact us if you have any questions. The price of the Dinar was 33 cents a piece before the war and $3.35 before sanctions were imposed. It is now legal to own Dinar at this 30-year low price.

Ambassador L. Paul Bremer, Administrator of the Coalition Provisional Authority, announced the issuance of a new law governing the Central Bank of Iraq. The new law provides for an independent central bank whose objectives are to achieve and maintain domestic price stability and to foster and maintain a market-based financial system. The Central Bank also has secondary objectives of promoting sustainable growth, employment, and prosperity in Iraq. The Central Bank will function as a modern central bank in line with current international best practices.

The Central Bank will develop and implement monetary policy, including exchange rate policy. It will also act as fiscal agent of the Government of Iraq which entails issuing and redeeming the securities of the Ministry of Finance. Other responsibilities will be to license and supervise both state-owned and private commercial banks as well as other lending and money transmission companies; and operate an interbank payment system and supervise other payment systems.

The Central Bank is required to maintain its independence from the Government. In particular, the Central Bank may not lend to the government and may establish and fund its own budget.

All Iraqi Dinar purchases are shipped Fedex guaranteed with Tracking Information for your convenience. Shop securely for foreign currency.

The New Iraqi Dinar 25,000 Note features ...

• Metallic Ink
• Security Strip
• UV Denomination Idenfication
• Raised Lettering
• In-threaded Watermark

Designed and Printed by the De La Rue Company of the United Kingdom.

The Market

Iraq has vast oil and natural gas reserves. Peace will come, and when it does, those natural resources will make Iraq a wealthy nation,and the value of its currency will rise. And so will yours If you buy now. Iraq has close to 25 million people with pent-up demand for goods and services they have been unable to purchase for years. Since the war, consumption has increased as a result of a significant increase in wages and the opening of international trade. A surge in investment financed by foreign donors will result in new jobs which will further accelerate consumption and growth in 2004. The recent establishment of a new, sound currency, transparent legal environment, and a friendly business environment will help ensure strong, sustained growth in the years ahead.

The Legal Environment

The new foreign direct investment law permits investment by foreigners with very few restrictions. Signed in September, it permits foreign investors to own up to 100% of enterprises in all sectors except natural resources. Profits, dividends, interest, and royalties may be fully remitted. Land may not be bought, but it may be leased for up to 40 years. Iraq recently passed a new banking law permitting six international banks to soon begin providing credit and other banking services in Iraq. Iraq is currently establishing a new set of commercial laws to assure investors of enforceable property and other rights, bankruptcy protection, foreclosure capability, and a well-functioning judicial system for settling commercial disputes. Taxes and tariffs are low. Iraq has a flat 5 percent tariff. Currently there is holiday on corporate and personal income taxes. Corporate taxes are limited after the tax holiday at 15%.

Attractive Industries

Oil and related businesses dominate the economy in Iraq. However, since the war the private sector has been expanding rapidly in retailing, wholesaling, and transport. As a result, consumer packaged goods and electronics are doing well. Construction is also benefiting from the rebuilding efforts underway. The heaviest infrastructure investments in 2004 are likely to be in electric power, oil production, refining, distribution, and water treatment. Industries such as cement, aggregates, and other construction materials are expected to do well. Shifts towards a more market-oriented economy, especially the replacement of the food basket with cash payments in 2004, will spur domestic food and beverage processing and distribution. Iraq production of petroleum, natural gas, phosphates, and sulfur will drive demand for equipment related to these industries such as drilling and pipeline equipment, excavating equipment, processing equipment, and refining equipment. Just as important as these mineral resources, Iraq has vast areas of fertile land and the most precious commodity of all in the Middle East, water. After decades of underinvestment, Iraq’s agriculture sector is poised to make the country once again the bread basket of the Middle East.