Iraq Travel Tips - Iraq Currency, General Information of Culture, History, Currency, lifestyle and Climate of Iraq
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Currency: The new Iraqi Dinar was introduced in October 2003. Iraqi Dinar (ID) = 20 dirhams = 1000 fils. Notes are in denominations of ID25,000, 10,000, 5000 and 500. There are plans to introduce ID 100, 50 and 25 denomination notes. Because the cost of scrap metal rose higher than the actual value of the coins, the central bank of Iraq withdrew all coins tendering a bid to sell the coins for scrap metal. This information is subject to frequent change in the current conditions.
Currency exchange: Foreign currency can be used at special duty-free shops in Baghdad up to a value of US$200. To obtain this concession, goods must be purchased within 20 days of arrival and passports must be produced.
Credit & debit cards: Not widely used.
Travellers cheques: These are not generally accepted.
Currency restrictions: The import of local currency is allowed up to ID25 and export up to ID5. The import of foreign currency is unlimited, provided declared on arrival. The export of foreign currency is limited to the amount imported and declared.
Exchange rate indicators:
The following figures are included as a guide to the movements of the
Iraqi Dinar (new Iraqi Dinar values from May '04) against Sterling and
the US Dollar:
Banking hours: Sat-Wed 0800-1200, Thurs 0800-1100. Banks close at 1000 during Ramadan.
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Iraq Travel Tips - General Information of Culture, History, Currency, lifestyle and Climate of Iraq