The Value of 1 Iraqi Dinar / IQD is equal to $0.000770, if we calculate in a detail manner than One thousand IQDs are equal to $0.77. To further explain $1 is worth around 1,400 IQDs. There are high chances of rate increase of IQD as the economy of Iraq is growing exponentially.
Current Scenario
So, if you hold:
- 1000 IQD, it’s worth around $0.77 USD
- 10000 IQD, it’s worth around $7.77 USD
- 1000000 IQD, it’s worth about $777 USD
Deletion of Zeroes in case of IQD Revaluation.
- 100 IQD, it’s worth around $1.77 USD
- 1000 IQD, it’s worth around $77.77 USD
- 100000 IQD, it’s worth about $7777 USD
Factors which Iraq has achieved that are giving signs of IQD price increase.
Political stability
Iraq has achieved remarkable Political stability, which is an important aspect for economic growth of Iraq.
Diversifying into non-Oil income streams.
Iraq has made numerous projects to diversify their economy from Oil based to other income generating sources. Like largest port in Arab world, The Faw Port.
IQD trade on Forex
Iraq is going to launch their currency on Forex and the IQD rate will increase when it will be trade on Forex.
Foreign reserves increase by Central Bank of Iraq.
The foreign reserves of Iraq are increasing due to its economic growth and this growth will increase IQD price.
Oil exports
Iraq has also reduced its Oil production as a strategy to limit supply in the global market. This strategy aims to boost demand and increase oil prices to generate more revenue at less production of Oil. Iraq has 2nd largest deposit of Crude Oil and gas in the Arab world. The new deposits of Oil are discovered recently which indicates that Iraq has far more Oil deposits, than current official estimates suggest.
