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    Currency in Iraq IQD - Things to know

    Foreign exchange guide to Iraq and the Iraqi dinar

    Iraq
     

    What currency is used in Iraq?

    The official currency of Iraq (country code: IQ) is the Iraqi dinar, with symbol ع.د and currency code IQD.

     

    An example Iraqi dinar banknote

     

    Travel money for Iraq

    Save money and time by Ordering your Iraqi dinar online from Travelex, you get better rates and can pick up the IQD cash locally or even on travel day at the airport.

    Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

    For card purchases if offered a choice of currencies always select to Pay in Iraqi dinar otherwise you may get much worst exchange rates.

     
     

    Travel Ideas and Money Tips for Iraq

    Describe Iraq for travelers and expats

    Iraq is a country in the Middle East with a history that dates back millennia. It is home to some of the world's most iconic archaeological sites, as well as large stretches of unspoiled desert and mountains. Iraq has been through a lot in recent years, with a devastating civil war and the rise of ISIS, but the country is slowly rebuilding and is safe to visit for travelers and expats. The Iraqi people are incredibly hospitable, and visitors will find plenty of opportunities to experience traditional Arab culture.

    Best things to do and see in Iraq

    -Explore the ancient city of Babylon

    -Visit the Shiite shrines in Karbala

    -Pay your respects at Saddam Hussein's tomb

    -Stroll through the markets of Baghdad

    -See the ancient city of Ur

    -Visit the Mosul Museum

    -Explore the Citadel of Erbil

    -Visit the ancient city of Nineveh

    Top Travel tips for Iraq

    -Visiting Iraq can be a rewarding and enlightening experience, but there are a few things to keep in mind to make the most of your trip.

    -The best time to visit Iraq is during the spring or fall when the weather is more moderate.

    -Be sure to dress conservatively, especially if you are a woman, and be respectful of local customs and traditions.

    -Iraq is a predominately Muslim country, so be mindful of religious traditions and customs.

    -The security situation in Iraq is unstable, so be sure to check the latest travel advisories before you go.

    -Iraq is a fascinating country with a rich history and culture. Be sure to allow plenty of time to explore all it has to offer.

    What's the best way to pay in Iraq?

    Most businesses in Iraq will accept cash payments in Iraqi dinars. There are ATMs available in major cities, but they may not always have sufficient funds. Credit cards are not widely accepted, so it is advisable to carry enough cash to cover all expenses.

     
       

    USD/IQD Market Data

    The below interactive chart displays the USD/IQD trend and UP DOWN HIGH LOW alerts

     
    1 USD =
    1310.0We compare provider deals to this wholesale mid-market rate. Read more
    IQD
     
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    Frequently Asked Questions

    What currency should I use in Iraq?

    The domestic currency in Iraq is the Iraqi dinar.

    What is the Iraqi dinar currency code and symbol?

    The three letter currency code for the Iraqi dinar is IQD — symbol is ع.د.

    Which countries use the Iraqi dinar?

    It is the domestic currency in    Iraq.

    Is the Iraqi dinar a closed currency?

    No, the Iraqi dinar is freely available and convertible. See guide: What is a closed currency?

    What are equivalent amounts of USD and IQD?

    USD IQD
    $ 1 ع.د 1,310
    $ 5 ع.د 6,550
    $ 10 ع.د 13,100
    $ 20 ع.د 26,200
    $ 50 ع.د 65,500
    $ 100 ع.د 131,000
    $ 250 ع.د 327,500
    $ 500 ع.د 655,000
    $ 1,000 ع.د 1,310,000
    $ 2,000 ع.د 2,620,000
    $ 5,000 ع.د 6,550,000
    $ 10,000 ع.د 13,100,000
    $ 20,000 ع.د 26,200,000
    $ 50,000 ع.د 65,500,000
    $ 100,000 ع.د 131,000,000
    USD IQD
    $ 0.0008 ع.د 1
    $ 0.0038 ع.د 5
    $ 0.0076 ع.د 10
    $ 0.0153 ع.د 20
    $ 0.0382 ع.د 50
    $ 0.0763 ع.د 100
    $ 0.1908 ع.د 250
    $ 0.3815 ع.د 500
    $ 0.7630 ع.د 1,000
    $ 1.5260 ع.د 2,000
    $ 3.8150 ع.د 5,000
    $ 7.6300 ع.د 10,000
    $ 15.26 ع.د 20,000
    $ 38.15 ع.د 50,000
    $ 76.30 ع.د 100,000

    More amounts

    Converted at USD/IQD interbank rate, compare Send Money and Currency Exchange exchange rates.

    Send Money to Iraq - Best Rates

    To get a good (and fair) exchange rate when sending money to Iraq you need to find and compare exchange rates for International Money Transfers (IMTs).

    The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.

    You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.


    Get a better deal for foreign transfers to Iraq

    When sending money to Iraq it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

    1. Open an account with a BER reviewed FX provider (id docs may be required)
    2. You specify the local or Iraqi dinar amount you want to transfer
    3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
    4. Once your funds are received by the provider the converted IQD amount will be transfered to the recipient account you specify in Iraq.

    Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Iraqi dinar deposited into the recipient bank account and less margins and fees kept by the banks!

     

    Expat Money & Business Guide to Iraq

    Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.

    By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Iraq.

    How is the cost of living in Iraq?

    The cost of living in Iraq is high.

    How is the expat life in Iraq?

    The expat life in Iraq can be quite challenging. There are a number of issues that can make it difficult to adjust to life in Iraq. These include the political situation, the security situation, and the economic situation. Additionally, the cultural differences can be quite pronounced.

    Any laws in Iraq that foreigners should be aware of?

    There are very few laws in Iraq that foreigners should be aware of. The Iraqi legal system is based on Sharia law, which is a set of religious laws that govern all aspects of life in the country. Sharia law is applied to both Muslims and non-Muslims, and it is the only legal system in Iraq. There are no secular laws in Iraq.

    What is doing business like in Iraq?

    There is no easy answer for this question as business conditions in Iraq vary greatly depending on the sector, location, and other factors. Some businesses are thriving in Iraq, while others are struggling. Overall, however, business conditions in Iraq are challenging. Security concerns, weak infrastructure, and bureaucratic red tape are just some of the many challenges businesses face in Iraq.

    How is the economy in Iraq?

    The economy in Iraq is slowly improving due to recent reforms and an increase in oil production. However, it remains relatively weak compared to other countries in the region. The unemployment rate is still high, and many Iraqis are living in poverty.

    Managing your finances in Iraq

    Here we list some key points for expats and businesses to consider when managing financial dealings in Iraq:

    1. Understand Iraqi dinar currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the IQD exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.

    2. Use a local Iraqi dinar bank account: A local IQD bank account can make it easier for you to manage your finances and pay bills while you are in Iraq. It may also be more convenient to use a local IQD bank account to make purchases and withdraw cash.

    3. Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Iraq. This can help you avoid legal issues and ensure that you are complying with local requirements.

    4. Consider the tax implications: It is important to understand the tax implications of living or doing business in Iraq. This can help you plan your finances and ensure that you are paying the correct amount of tax.

    5. Seek financial advice: If you are unsure of how to manage your finances in Iraq, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.

     

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