In Iraq the currency used is called the Iraqi Dinar. One thousand Iraqi Dinar is currently more or less equal to one US dollar. This was introduced in the 1930’s and was made to replace the Indian rupees. Coins are also available. Recently there has been a lot of fuss about the Iraqi Dinar being able to make you rich overnight. I think this was caused by the confusion that was triggered by the rumours that a current 1000 Iraqi Dinar today which is equal to 1 US dollar would be remade into 1 Iraqi Dinar. The government has decided to drop the zeros but production of this money has not yet been finalized. And if it would be changed, the old 1000 Iraqi Dinar would still be equal to 1 US dollar and not 1000 US dollars. Nothing can make you rich overnight. If the economy of IRAQ stabilizes and its Iraqi Dinar value increases, it would be on a gradual manner and not be done overnight.
Tags: Indian rupees, us dollars, Central Bank Iraq