Understanding the USD to IQD Exchange Rate
The exchange rate between the United States Dollar (USD) and the Iraqi Dinar (IQD) is an important factor for those who frequently deal with these currencies. Understanding the current exchange rate, historical trends, and factors influencing the rate can help individuals and businesses make informed decisions when converting between USD and IQD.
The exchange rate represents the value of one currency in terms of another. In this case, it shows how many Iraqi Dinars can be exchanged for one US Dollar, or vice versa. The currency code for US Dollars is USD, with the symbol $, while the currency code for Iraqi Dinars is IQD, with the symbol ع.د.
Current USD to IQD Exchange Rate
As of June 19, 2024, the exchange rate is as follows:
- 1 USD = 1,309.33 IQD
- 1 IQD = 0.000763747 USD
It’s important to note that these rates are based on the mid-market rate and are for informational purposes only. Actual rates may vary depending on the provider and the specific transaction.
Factors Influencing the USD to IQD Exchange Rate
Several economic and political factors can influence the exchange rate between USD and IQD. These include:
- Economic stability and growth in both countries
- Inflation rates
- Interest rates set by central banks
- Government debt levels
- Political events and geopolitical tensions
Changes in any of these factors can cause fluctuations in the exchange rate, leading to appreciation or depreciation of either currency.
Historical USD to IQD Exchange Rates
Analyzing historical exchange rates can help identify trends and patterns in the USD to IQD relationship. This information can be useful for forecasting future exchange rates and making informed decisions about currency conversions.
30-Day and 90-Day High and Low Exchange Rates
Here are the highest and lowest exchange rates for the last 30 and 90 days:
| Period | Highest Rate (USD to IQD) | Lowest Rate (USD to IQD) |
|---|---|---|
| 30 Days | 1,311.5 | 1,307.3 |
| 90 Days | 1,311.9 | 1,307.3 |
Average Exchange Rates and Volatility
The average exchange rates and volatility percentages for the last 30 and 90 days are:
| Period | Average Rate (USD to IQD) | Volatility |
|---|---|---|
| 30 Days | 1,309.4 | 0.10% |
| 90 Days | 1,309.5 | 0.08% |
Volatility measures the degree of variation in the exchange rate over a given period. Lower volatility indicates more stable exchange rates, while higher volatility suggests greater fluctuations.
Converting USD to IQD
When converting US Dollars to Iraqi Dinars, it’s essential to use accurate and up-to-date exchange rates. This ensures that you receive the correct amount of IQD for your USD, and vice versa.
How to Convert USD to IQD
To convert USD to IQD, multiply the amount of USD by the current exchange rate. For example, if you have $100 USD and the exchange rate is 1 USD = 1,309.33 IQD, you would calculate:
$100 USD × 1,309.33 = 130,933 IQD
Similarly, to convert IQD to USD, divide the amount of IQD by the current exchange rate. For instance, if you have 500,000 IQD and the exchange rate is 1 IQD = 0.000763747 USD, you would calculate:
500,000 IQD ÷ 0.000763747 = $381.87 USD
Online Tools and Services for USD to IQD Conversion
There are various online tools and services that can help you convert USD to IQD quickly and easily. Some popular options include:
- Xe: Xe is a well-known provider of currency exchange services, offering live exchange rates, historical charts, and a currency converter.
- Online currency converters: Many websites, such as Google, Yahoo Finance, and Bloomberg, offer free currency conversion tools.
- Money transfer services: Services like Western Union, MoneyGram, and TransferWise allow you to send money internationally, often with competitive exchange rates.
When using any online tool or service, always verify the exchange rates and fees to ensure you’re getting the best deal.
Iraqi Dinar Currency Overview
The Iraqi Dinar (IQD) is the official currency of Iraq, issued by the Central Bank of Iraq. Understanding the history, denominations, and features of the Iraqi Dinar can be helpful when dealing with this currency.
History and Background of the Iraqi Dinar
The Iraqi Dinar was introduced in 1932, replacing the Indian Rupee. Throughout its history, the Dinar has undergone several changes, including the removal of Saddam Hussein’s portrait from banknotes following his overthrow in 2003.
In recent years, the Central Bank of Iraq has taken steps to stabilize the currency and combat inflation, such as introducing new banknotes with improved security features and implementing monetary policies to manage the money supply.
Iraqi Dinar Denominations and Banknotes
The Iraqi Dinar is issued in the following denominations:
- Banknotes: 50, 250, 500, 1,000, 5,000, 10,000, 25,000, and 50,000 dinars
- Coins: 25, 50, and 100 dinars
Iraqi Dinar banknotes feature various designs, including historical and cultural landmarks, as well as Arabic calligraphy. The banknotes also incorporate security features such as watermarks, security threads, and holograms to prevent counterfeiting.
When exchanging or handling Iraqi Dinar banknotes, it’s essential to be aware of the different denominations and their respective values to ensure accurate transactions.
See also:
- Bahrain Currency: Convert BHD to USD, INR & More Exchange Rates
- Convert USD to JOD – US Dollar to Jordanian Dinar Exchange Rate
- Kuwait Currency Exchange Rate: KWD to USD, INR | Conversion Rates
- Indian Currency Exchange Rate: USD to INR Conversion – Xe
- Lithuania Currency: A Complete Guide to Lithuanian Litai and Euro Conversion
