Exchange rates and insights

The Iraqi Dinar (IQD) exchange rate is determined by the Central Bank of Iraq (CBI) and remains constant unless altered by the central bank itself. The Iraqi government prints Iraq money and establishes the designated rates for both buying and selling the currency.

The Iraqi Dinar is the official national currency of Iraq and is primarily used and accepted as legal tender within Iraq, its country of origin. While it may not be accepted as a direct form of payment outside of Iraq, you can exchange it for USD or other currencies on international currency exchange platforms such as USFX.

You can buy or sell Iraqi Dinars at competitive rates via our registered, licensed, and federally regulated currency exchange services. Easily order your Iraqi Dinars or another currency via our user-friendly online platform, and enjoy the convenience of doorstep delivery within 24–48 hours. We offer comprehensive insurance coverage for all shipments and the market's most competitive spreads.

Some banks and financial institutions may also provide currency exchange services. However, it's best to avoid depending on your local bank due to their substantial spreads and potential reluctance to accept Iraqi Dinar without imposing significant exchange fees.

Ensuring the authenticity of any currency, including the Iraqi Dinar, is paramount. To identify counterfeit Iraqi Dinars, look for authenticity indicators on the bills, such as a security thread, raised letters, watermarks, metallic inks, and a distinctive glow under UV light.

To guarantee the legitimacy of the Iraqi Dinar at USFirst Exchange, we rely on advanced De La Rue machines, renowned for their accuracy in verifying NID notes.

In February 2023, the Central Bank of Iraq announced an increase in the value of the Iraqi Dinar, setting a new 10% stronger exchange rate. This change took effect on February 8th, reflecting a significant shift in the currency's value, and a long-term increase is expected, according to forecasts.

However, it's essential to recognize that various factors can influence currency values, which may lead to fluctuations over time. Sign up for our exchange rate alerts to keep track of the Iraqi Dinar value – we’ll keep you posted.

Yes, there is a market for buying and selling Iraqi Dinars. Individuals traveling to Iraq, collectors, and investors engage in purchasing the Iraqi Dinar.

Numerous individuals have concerns about the ease of selling purchased Iraqi Dinars. Contrary to this misconception, the Iraqi Dinar holds substantial demand as a functional currency beyond its role as a collectible or investment. Numerous currency brokers, such as US First Exchange, will gladly buy Iraqi Dinars.