Iraq - Iraqi dinar - Currency Guide

IQD News, Forecasts and Trends

Travel, Currency and Money saving tips for Iraq

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.

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 Send to Iraqi dinar 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!