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The most popular currency sold here at BuyIQD.Com is by far the New Iraqi Dinar, or the IQD as some people refer to it. The IQD is the currency ticker symbol for the Iraqi Dinar, the same way EUR is for the Euro and GBP is for the British Pound.
We exchange the following denominations of Iraqi Dinar: 50,000, 25,000, 10,000, 5,000, 1,000, 500, 250, and 50. You can purchase or buy your Iraqi Dinar from us with confidence. We are a known and trusted name in the Dinar community.
The name of the Iraqi currency is the "Dinar", as is Dollar for the US. The word Dinar is not however exclusive to the Iraqi Dinar, other countries also call their currency the Dinar such as Kuwait and others so make sure when you are buying Dinar you are buying Iraqi Dinar and not Jordanian Dinar or other countries currency.
Despite other countries using the same name to represent their currency note, each countries currency is unique and stands on it's own. They are all individual currencies with their own exchange rates.
Where to Buy Iraqi Dinar in 2017?
If you're looking to buy Iraqi Dinar you've come to the right place. Here at BuyIQD.Com not only do we offer low competitive pricing, but we are also one of the few sellers who accept credit and debit cards making your purchase not only more convenient, but also less costly as you don't have to go out and buy bank wires or cashiers checks.
We pride ourselves on our customer service, and are available to answer your questions or take orders over the phone Monday through Friday between 9am and 5pm Central Standard time. You can also e-mail us 7 days a week, 24 hours a day. We also ship same day Mondays through Fridays up until 4PM Central time.
If you're looking to purchase Dinar simply visit our Iraqi Dinar page to view our product and pricing. If you have any questions or would like to place your order over the phone you can always call us at 1-800-884-1288.
New 2014 Iraqi Dinar Banknotes
The internet has been abuzz for a while with talk of the new 2014 Iraqi Dinar banknotes. While still the same Iraqi Dinar (IQD) currency and the same value, these were a newer print edition of the Dinar.
The same way the US Dollar and other currencies roll out new notes every few years with new security features Iraq does the same thing.
These notes are still the same exact currency and carry the same value as the notes you probably already own, but many people have been wanting to get their hands on these new notes. The new notes, pictured below, featured below while very similar have a little bit of a different picture on the notes, and also feature a plastic thread as a new added security feature.
While many other sellers and dealers are selling these notes for a premium price we currently have these notes in stock for the same great pricing as the normal notes. Get them now for a limited time!!!
If you want to ensure you receive the new 2014 notes feel free to call us at 1-800-884-1288 and place your order over the phone so you can verify that we still have these notes in stock.
(IraqiNews.com) BAGHDAD – International Monetary Fund (IMF) has approved a three-year $5.34 billion loan for Iraq. The loan is focussed on implementing economic and financial policies to help Iraq cope with lower oil prices and ensure debt sustainability.
In a statement issued by the IMF it was mentioned that the loan would be provided under the ‘Stand-By Agreement’ facility and it includes measures to protect vulnerable populations.
In an interview with IMF news, the transcription of which was also obtained by Iraqi News, IMF mission chief for Iraq Christian Josz said, “The program is designed with a focus to- reduce budget spending and stabilize debt; protect spending on the social front to ease the lives of the poorest, IDPs and refugees; improve the quality of public spending and begin the process of restructuring state-owned banks.”
“Iraq has maintained a peg to the US dollar for years and it has served the Iraqi economy well. The peg helps provide stability amidst a highly uncertain environment, especially with policy capacity weakened by the fight against ISIS,”Josz said, adding, “Iraq is predominantly an oil exporter and devaluing the Dinar would have minimal bearing on the economy’s overall trade competitiveness.”
“The authorities can also spur private sector-led growth by restructuring state-owned enterprises and prioritizing investment projects, which will help improve infrastructure development,” Josz further said, before concluding, “The authorities are committed to maintaining the Iraqi Dinar’s peg to the US dollar under these circumstances, and we support this view. There is no reason to devalue the Iraqi dinar.”
December 5, 2016
- IMF disburses about US$617.8 million following completion of first review of Iraq’s reform program
- The IMF-supported program includes measures to protect the poor, enhance financial sector stability, and curb corruption
- Significantly improving public financial management will be important
The Executive Board of the International Monetary Fund (IMF) today completed the first review of Iraq’s three-year Stand-By Arrangement (SBA), which is designed to support Iraq’s economic reform program and restore fiscal balance over the medium term. The Board also completed financing assurances review under the SBA. The SDR 3.831 billion arrangement (about US$5.34 billion at the time of approval) was approved in July, 2016 (See Press Release No. 16/321) . The Board’s approval enables the disbursement of SDR 455 million (about US$617.8 million).
As part of the completion of the first review, the Board also approved Iraq’s request for a waiver for the non-observance of the continuous ceiling on new external arrears, and request to modify performance criteria. The Board also approved the request for a waiver of applicability for end of September targets of four performance criteria on the floor on gross international reserves (GIR) of the Central Bank of Iraq (CBI), the ceiling on net domestic assets (NDA) of the CBI, the ceiling on the stock of outstanding arrears to international oil companies and the ceiling on the stock of gross public debt, as well as a request for the rephasing of the arrangement.
Iraq’s economic reform program supported by the SBA aims to address the urgent balance of payments need, bring spending in line with lower global oil prices, and ensure debt sustainability. The program also includes measures to protect the poor, strengthen public financial management, enhance financial sector stability, and curb corruption. Iraq will require the support of the international community to implement these policies.
Following the Executive Board’s decision, Mr. Mitsuhiro Furusawa, Deputy Managing Director and Acting Chair of the Board, issued the following statement:
“The economic policies implemented by the Iraqi authorities to deal with the shocks facing Iraq—the armed conflict with ISIS and the ensuing humanitarian crisis and the collapse in oil prices—are appropriate. In the fiscal area, the authorities are implementing a sizable fiscal adjustment, mostly through retrenchment of inefficient capital expenditure while protecting social spending. In the external area, the authorities are maintaining the peg of the Iraqi dinar to the U.S. dollar, which provides a key anchor to the economy. Performance under the Stand-By Arrangement has been mixed; however, understandings have been reached on sufficient corrective actions to keep the program on track. Resolute implementation, together with strong international support, will be key.
“The revised fiscal program in 2016 and the draft budget in 2017 are aligned with the SBA. The composition of the fiscal adjustment should be improved over time by increasing non-oil revenue and reducing current expenditure, including the payroll and pension payments, and reforming the electricity sector, subsidies, and state-owned enterprises, in order to make room for larger but more effective and efficient investment expenditure that is conducive to growth.
“Significantly improving public financial management will be important. Arrears need to be assessed and paid following verification, and expenditure commitment and cash management should be strengthened to prevent the accumulation of new arrears.
“Measures to bolster financial sector stability include strengthening the legal framework of the Central Bank of Iraq, restructuring state-owned banks, and eliminating exchange restrictions. Measures to prevent money-laundering, counter the financing of terrorism, and strengthen the anti-corruption legislation also need to be implemented.
“Implementation of the budget-sharing agreement with the Kurdistan Regional Government would put both the federal government and the Kurdistan Regional Government in a better position to address the shocks to the Iraqi economy.”
(Reuters) Iraq is committed to cutting its production to comply with a global pact to support prices, the country’s oil minister said, adding he was nevertheless confident OPEC’s No. 2 producer has the potential to boost its output in coming years.
Iraq is reviewing several options to implement the reduction, including cuts from Kirkuk oilfield, southern fields being developed by oil majors or other state-run areas, Oil Minister Jabar al-Luaibi said in an interview.
“The cuts will aim at the figures we agreed with OPEC definitely, but (for) the areas of the cuts there are many options on the table,” Luaibi told Reuters on Saturday.
Last month, OPEC agreed to cut output by 1.2 million bpd from January 2017. Baghdad, which has called to be exempted from OPEC restrictions as it needs the income to fight Islamic State, would reduce its output by around 200,000 barrels per day to 4.351 million bpd.
Luaibi said his ministry was in discussions with foreign companies operating Iraq’s giant southern fields to implement some cuts during scheduled maintenance.
“Some IOCs will have maintenance requirements in some limited places in some fields… so this is a good opportunity to do them,” he said.
Iraq’s production in December will be slightly higher than November’s, Luaibi said.
“I can assure you that our production, I am talking with confidence, has reached the level of 4.8 million bpd.”
Iraq has accepted a lower production reference level as part of the OPEC deal that estimated its output at 4.561 million bpd.
Luaibi said Baghdad has agreed to a lower level estimate because “We want OPEC to unite, so the oil price and the global market balance and improve.”
“But at the back of our minds, we are confident that this was not (the) real production level, however, we hope this would be compensated with the improvement of the prices,” he said.
Iraq has signed deals with majors such as Exxon Mobil, BP and Royal Dutch Shell to develop its fields. Production has almost doubled to around 4.7 million bpd this year, from 2.4 million bpd at the start of the decade.
But the growth has lagged the initial forecasts of production at 9 million bpd by 2018, rivaling Saudi Arabia, the world’s top oil exporter and OPEC’s biggest producer.
Held back by red tape, infrastructure constraints and difficult contract terms, Iraq is now targeting a more modest 5.5 million to 6 million bpd by 2020.
Oil companies operate in the southern oilfields under service contracts, whereby they are paid a fixed dollar fee for additional volumes produced. Iraq has been in talks with the companies to link the fees they receive to crude prices.
Luaibi said some companies are asking for revisions in some clauses of the contracts and his ministry was working with a consultancy in Finland over the revised contracts.
“We will see something new happening in 2017 that would please the IOCs and safeguard our interests,” he said.
Luaibi, who became oil minister earlier this year and has served previously as director general of South Oil Company which produces most of the nation’s oil, has made boosting Iraq’s production a priority.
He said Iraq’s target was to boost its output potential to 6 million by 2020. “I think the 9 million bpd will be sort of appropriate after 2030,” he said.
To help Iraq reach that target, it needs water injection to enhance oil recovery, and a crucial multi-billion-dollar water project that has been delayed for years is now being revived with a capacity of 5 million bpd of water.
“We put it on a fast-track,” Luaibi said, adding there will be a tender “within this month, if not, then next month.”
Baghdad (IraqiNews.com) Iraq’ 2017 budget achieves a revenue rate of 7.5% from non-petroleum resources, a government adviser has said, labeling the rate as unprecedented.
Mazhar Mohamed Saleh, an adviser to Iraqi Prime Minister Haider al-Abadi, told Almaalomah.info on Tuesday that the budget witnesses a growth of non-petroleum revenues which account for 7.5% (nearly 10 trillion Iraqi dinars), something he described as “an unprecedented achievement”.
“The government will seek to increase that percentage gradually, especially after collecting electricity bills since electricity production costs nearly 12 trillion dinars, compared to only 1.25 trillion collected in bills,” Saleh stated.
On Monday, the Iraqi parliament postponed once again discussions on the 2017 budget amid growing disagreements among parliamentary blocs over financial allocations, most notably in relation to allocations for Kurdish armed forces, Peshmerga.
MPs have, so far, voted on 50 articles of the controversial budget, out of a total of 63.
Which Banks Near Me Sell Iraqi Dinar?
Looking to purchase some Iraqi Dinar? Many buyers first begin looking locally and would like to be able to walk into a bank or brick and mortar location to purchase their Iraqi Dinar.
While some smaller community banks and credit unions do buy and sell the Iraqi Dinar they are few and far between.
A few years back banks like Fifth Third, Wells Fargo, Chase, and Bank of America used to the the Iraqi Dinar, those banks no longer sell it these days. The reason being A. nobody is traveling to Iraq and banks provide that service as a courtesy to traveling customers and B. many people would make weekly recurring buys which costs the bank money and isn't really the intended purpose of their currency exchange services as it's a drain on their tellers and resources, it requires special Brinks deliveries which cost money, etc.
It can't hurt to call around and try to find a local bank selling the Iraqi Dinar however chances are you're not going to be able to find it. If that's the case feel free to shop our site or give us a call. You can view our Iraqi Dinar and purchase online, or give us a call at 1-800-884-1288.
Our customer service and order line is open Monday through Friday 9AM to 5PM Central Standard time. We ship packages out same day Monday through Friday up until 4PM Central time and we accept credit cards and debit cards to make your purchase as quick and seemless as possible.
If you're in the market for Iraqi Dinar don't hesitate to give us a call!!!!
Sell Circulated Iraqi Dinar
We buy circulated Iraqi Dinar. If you have circulated Dinar you are looking to sell either fill out our selloff form or give us a call at 1-800-884-1288.
Unlike many other dealers who will only buy uncirculated or mint Dinar, we buy it all. We are currently paying $600 per million for circulated Dinar, however prices are always changing so please either fill out our selloff form or give us a call and we would be happy to give you a free quote.
Our selloff process is quick and easy and we offer one of the fastest payout times in the industry. We are typically able to get a check out to you the same day that we receive your Dinar.
Feel free to do a quick Google search on us, we have loads of satisfied customers. We look forward to hearing from you.