Article “Iraq Struggles to Contain Volatile Dinar Currency Disparity”
Quote: “The Iraqi dinar reached its peak value during the 1970s when one dinar was worth four U.S. dollars. Conflict and economic embargoes during the 1990s caused the currency to crash to 3,000 dinars per dollar. The Central Bank fixed the official rate at 1,320 IQD, but parallel market rates remain high at 1,530 IQD…Decades of geopolitical conflict, sanctions, and market resistance have left Iraq unable to bridge the gap between its official 1,320 IQD peg and parallel market rates exceeding 1,530 IQD, cementing a historic decline from its four-dollar peak in the 1970s.” : Clare
