asia: ...Iraq - 2018 Series Set with the 1,000 Dinars Commemorating 2018 Listing of World Heritage Sites of the Marshes and the Monuments of Southern Iraq

جمهورية العراق
Republic of Iraq

البنك المركزي العراقي
(Central Bank of Iraq)
Currency : Dinar (IQD)

These are the 2018 series of banknotes, which comprises the 250, 500, 1000 (Commemorative note), 10000 (Hybrid) and 25000 (Hybrid) dinars issued so far. Whilst the 250, 500, 10000 and 25000 dinars are normal issues or reprints, the design of the 1000 dinars has been altered with the commemorative slogan of "the inclusion of marshes and the monuments of southern Iraq on the list of world heritage 2016" in Arabic in a circular shape surrounding a stylised sun and also an image of a person and a boat presumably floating in the marshes. This design replaced the gold dinar coin in the center of the note as those issued previously. The rest of the designs are the same. Other changes to the notes are the writing of the Bank's Governor's name instead of signing and also the modification of the Hijri and Gregorian dates (1440 H - 2018 AD). These changes are only on the front of the 1000 dinars note. It appears there are no changes on the reverse side.

It is not sure if the 5000 dinars has been printed as none has been sighted so far. It is believed the 50000 dinars was not issued for this series as the same note with the year date of 2020 has been issued.

The Iraqi dinar has come a long way. It used to be such a strong and stable currency until 1990. The dinar used to be pegged to the US Dollar at a rate of 1 dinar equals US$2.80. This exchange rate then increased in favour of the dinar, at the rate of US$3.21. All these changed when the Gulf war started in 1990, and due to the UN sanctions after the war, the Iraqi government was forced to print its own currency. Prior to the war, the Iraqi dinar was printed using the Swiss printing method which is more superior to the locally printed currency. The value of the dinar started to fall due to government excessive printing and by 1995, the exchange rate was one US dollar to buy more than 3000 dinars. Today, the exchange rate has improved quite considerably to about half the 1995's exchange rate but in no way to the pre-1990 era value.

Signature

Governor - Ali Mohsen Ismail Al-Alaq

Two Hundred and Fifty Dinars