Understanding the currency
What is the Iraqi Dinar (IQD)?
The Iraqi Dinar (IQD) is the official currency of Iraq, issued by the Central Bank of Iraq. For a growing community of Australian investors and collectors it’s one of the most closely watched currencies in the world — not for what it trades at today, but for where Iraq’s reforms could take it tomorrow. Dinar Exchange has supplied genuine IQD banknotes to Australians since 2011.
What is the Iraqi Dinar (IQD)?
The Iraqi Dinar (IQD) is the official currency of Iraq, issued and managed by the Central Bank of Iraq. It circulates as banknotes inside Iraq and is bought overseas — including in Australia — as a physical, collectible and speculative currency holding. Dinar Exchange has supplied genuine IQD banknotes to Australians since 2011.
What is the currency of Iraq?
The currency of Iraq is the Iraqi Dinar (currency code IQD), issued by the Central Bank of Iraq. It is the legal tender used across Iraq for everyday transactions, available in banknote denominations such as 25,000 and 50,000 IQD — the notes most commonly bought by collectors and speculators abroad.
Is the Iraqi Dinar worth anything?
Yes — the Iraqi Dinar is a real, circulating currency of an oil-rich nation, not a novelty note. Outside Iraq it is bought mainly as a long-term speculative and collectible holding. Its future value can't be guaranteed, so most buyers hold an amount they're comfortable setting aside. This is general information, not financial advice.
What does an Iraqi Dinar banknote look like?
Genuine Iraqi Dinar banknotes carry Central Bank of Iraq security features — a watermark, security thread, colour-shifting ink, micro-printing and UV markings. Dinar Exchange most commonly supplies the 25,000 and 50,000 IQD notes, and inspects every note against these features before dispatch.
A brief history of the Iraqi Dinar
The Iraqi Dinar has been Iraq's currency since 1932. After the 1990s sanctions era and the 2003 war, a new dinar was issued and the Central Bank of Iraq has since worked to stabilise and modernise it. Today Iraq is rebuilding its banking system and foreign reserves — the backdrop many investors watch closely.
Will the Iraqi Dinar revalue?
Many investors are optimistic the Iraqi Dinar can strengthen as Iraq rebuilds — it holds roughly 145 billion barrels of proven oil reserves and is modernising its banking system. There is no official revaluation date or guarantee, but that long-term upside is why many Australians choose to hold the dinar today.
How do I buy Iraqi Dinar in Australia?
You can buy Iraqi Dinar online anywhere in Australia from Dinar Exchange, an AUSTRAC-enrolled currency dealer trading since 2011. Choose your amount, verify your identity, pay by bank transfer, and your genuine notes arrive by insured, tracked Australia Post with a certificate of authenticity.
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Last updated: 10 June 2026