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Iraqi Dinar
The Iraqi dinar () (Arabic: دينار; sign: ID in Latin, د.ع in Arabic; code: IQD) is the currency of Iraq. It is issued by the Central Bank of Iraq and is subdivided into 1,000 fils (فلس), although inflation has rendered the fils obsolete since 1990. On 26 December 2022, the exchange rate with the US Dollar was US$1 = 1556 dinars. History The Iraqi dinar entered circulation on 1 April 1932, replacing the Indian rupee, which had been the official currency since the British occupation of the country in World War I, at a rate of 1 dinar = 11 rupees. The dinar was pegged at par with sterling until 1959 when, without changing its value, the peg was switched to the United States dollar at the rate of ID 1 = US$2.80. By not following the US devaluations in 1971 and 1973, the official rate rose to US$3.3778, before a 5% devaluation reduced its rate to US$3.2169, a rate which remained until the Gulf War in 1990, although in late 1989 the black market rate was repo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fils (currency)
The fils (Arabic: فلس) is a subdivision of currency used in some Arab countries, such as Iraq and Bahrain. The term is a modern retranscription of ''fals'', an early medieval Arab coin. "Fils" is the singular form in Arabic, not plural (as its final consonant might indicate to an English speaker). The plural form of fils is ''fulūs'' (فلوس); the latter term can also refer to small amounts of money or to money in general in Egyptian and Iraqi and many other varieties of Arabic. * 1 Bahraini dinar = 1000 fulūs (or 1 fils = Bahraini dinar) * 1 Emirati dirham = 100 fulus * 1 Iraqi dinar = 1000 fulūs * 1 Jordanian dinar = 1000 fulūs * 1 Kuwaiti dinar = 1000 fulūs * 1 Yemeni rial The rial ( ar, ريال يمني; sign: ﷼; abbreviation: YRl (singular) and YRls (plural) in Latin, ,ر.ي in Arabic; ISO code: YER) is the official currency of the Republic of Yemen. It is technically divided into 100 fils, although coins d ... = 100 fulūs Indian rupees * Falus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Iraqi Swiss Dinar
The Swiss dinar ( ar, دينار سويسري) was the Iraqi currency in circulation prior to the 1990 Gulf War. Name The reason for the adjective "Swiss" is unknown, two possible explanations have been offered. It has been claimed the printing plates for the currency came from Switzerland, although the notes were actually produced in the United Kingdom by De La Rue. While this claim is widespread, the actual origins of the plates are unknown as no sources close to De La Rue or the Central Bank of Iraq have made any comment on the matter. The second possible explanation is that prior to the Gulf War, Iraq was historically a low inflation country, similar to Switzerland. History Inter-war period After the Gulf War, the Iraqi government disendorsed the old currency, favoring newly printed ''Saddam dinars'', and the ''Swiss dinar'' ceased to be legal tender. However, the old currency still circulated in the politically isolated Kurdistan region of Iraq. The government of the Ku ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Redenomination
In monetary economics, redenomination is the process of changing the face value of banknotes and coins in circulation. It may be done because inflation has made the currency unit so small that only large denominations of the currency are in circulation. In such cases the name of the currency may change or the original name may be used with a temporary qualifier such as "new". Redenomination may be done for other reasons such as changing over to a new currency such as the Euro or during decimalisation. Redenomination itself is considered symbolic as it does not have any impact on a country's exchange rate in relation to other currencies. It may, however, have a psychological impact on the population by suggesting that a period of hyperinflation is over, and is not a reminder of how much inflation has impacted them. The reduction in the number of zeros also improves the image of the country abroad. Inflation over time is the main cause for the purchasing power of the mone ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deflation
In economics, deflation is a decrease in the general price level of goods and services. Deflation occurs when the inflation rate falls below 0% (a negative inflation rate). Inflation reduces the value of currency over time, but sudden deflation increases it. This allows more goods and services to be bought than before with the same amount of currency. Deflation is distinct from disinflation, a slow-down in the inflation rate, i.e. when inflation declines to a lower rate but is still positive. Economists generally believe that a sudden deflationary shock is a problem in a modern economy because it increases the real value of debt, especially if the deflation is unexpected. Deflation may also aggravate recessions and lead to a deflationary spiral. Some economists argue that prolonged deflationary periods are related to the underlying of technological progress in an economy, because as productivity increases ( TFP), the cost of goods decreases. Deflation usually happens when ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bureau De Change
A bureau de change (plural bureaux de change, both ) (British English) or currency exchange (American English) is a business where people can exchange one currency for another. Nomenclature Although originally French, the term "bureau de change" is widely used throughout Europe and French-speaking Canada, where it is common to find a sign saying "exchange" or "change". Since the adoption of the euro, many exchange offices have started incorporating its logotype prominently on their signage. In the United States and English-speaking Canada the business is described as "currency exchange" and sometimes "money exchange", sometimes with various additions such as "foreign", "desk", "office", "counter", "service", etc.; for example, "foreign currency exchange office". Location A bureau de change is often located at a bank, at a travel agent, airport, main railway station or large stores—namely, anywhere there is likely to be a market for people needing to convert currency. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exchange Rate
In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of the euro. The exchange rate is also regarded as the value of one country's currency in relation to another currency. For example, an interbank exchange rate of 114 Japanese yen to the United States dollar means that ¥114 will be exchanged for or that will be exchanged for ¥114. In this case it is said that the price of a dollar in relation to yen is ¥114, or equivalently that the price of a yen in relation to dollars is $1/114. Each country determines the exchange rate regime that will apply to its currency. For example, a currency may be floating, pegged (fixed), or a hybrid. Governments can impose certain limits and controls on exchange rates. Countries can also have a strong or weak currency. There is no agreement in the econo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Currency In The Middle East
The history and development of British currency in the Middle East emerged from the 19th century. British involvement in the Middle East began with the Aden Settlement in 1839. The British East India Company established an anti-piracy station in Aden to protect British shipping that was sailing to and from India. The Trucial States were similarly brought into the British Empire as a base for suppressing sea piracy in the Persian Gulf. Involvement in the region expanded to Egypt because of the Suez canal, as well as to Bahrain, Qatar, and Muscat. Kuwait was added in 1899 because of fears about the proposed Berlin-Baghdad Railway. There was a growing fear in the United Kingdom that Germany was a rising power, and there was concern about the implications of access to the Persian Gulf that would arise from the Berlin-Baghdad Railway. After the First World War the British influence in the Middle East reached its fullest extent with the inclusion of Palestine, Transjordan and Iraq. At ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. , the fund had XDR 477 billi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
COVID-19 Pandemic
The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identified in an outbreak in the Chinese city of Wuhan in December 2019. Attempts to contain it there failed, allowing the virus to spread to other areas of Asia and later worldwide. The World Health Organization (WHO) declared the outbreak a public health emergency of international concern on 30 January 2020, and a pandemic on 11 March 2020. As of , the pandemic had caused more than cases and confirmed deaths, making it one of the deadliest in history. COVID-19 symptoms range from undetectable to deadly, but most commonly include fever, dry cough, and fatigue. Severe illness is more likely in elderly patients and those with certain underlying medical conditions. COVID-19 transmits when people breathe in air contaminated by droplets ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coalition Provisional Authority
) , capital = Baghdad , largest_city = capital , common_languages = Arabic Kurdish English (''de facto'') , government_type = Transitional government , legislature = Iraqi Governing Council , title_leader = Administrator , leader1 = Jay Garner , leader2 = Paul Bremer , year_leader1 = 2003 , year_leader2 = 2003–2004 , title_deputy = Deputy Administrator , deputy1= Richard Jones , year_deputy1 = 2003–2004 , era = Iraq War , event_pre = Saddam Hussein and Ba'ath Party deposed , date_pre = 21 April 2003 , event_start=CPA established , date_start=16 May , year_start = 2003 , event_end = Interim government , date_end = 28 June , year_end = 2004 , stat_year1 = , stat_area1 = , stat_pop1 = , currency = Iraqi dinar , today= Iraq The Coalition Provisional Authority (CPA; ar, سلطة الائتلاف المؤقتة, ku, هاوپەيمانى دەسەڵاتى كاتى) was a transitional government of Iraq established following the in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office For Reconstruction And Humanitarian Assistance
) , capital = Baghdad , largest_city = capital , common_languages = Arabic KurdishEnglish (''de facto'') , government_type = Transitional government , legislature = Iraqi Governing Council , title_leader = Administrator , leader1 = Jay Garner , leader2 = Paul Bremer , year_leader1 = 2003 , year_leader2 = 2003–2004 , title_deputy = Deputy Administrator , deputy1= Richard Jones , year_deputy1 = 2003–2004 , era = Iraq War , event_pre = Saddam Hussein and Ba'ath Party deposed , date_pre = 21 April 2003 , event_start=CPA established , date_start=16 May , year_start = 2003 , event_end = Interim government , date_end = 28 June , year_end = 2004 , stat_year1 = , stat_area1 = , stat_pop1 = , currency = Iraqi dinar , today=Iraq The Coalition Provisional Authority (CPA; ar, سلطة الائتلاف المؤقتة, ku, هاوپەيمانى دەسەڵاتى كاتى) was a transitional government of Iraq established following the invasio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Iraqi Governing Council
The Iraqi Governing Council (IGC) was the provisional government of Iraq from 13 July 2003 to 1 June 2004. It was established by and served under the United States-led Coalition Provisional Authority (CPA). The IGC consisted of various Iraqi political and tribal leaders who were appointed by the CPA to provide advice and leadership of the country until the June 2004 transfer of sovereignty to the Iraqi Interim Government (which was replaced in May 2005 by the Iraqi Transitional Government, which was then replaced the following year by the first permanent government). The Council consisted of 25 members. Its ethnic and religious breakdown included 13 Shias, five Sunnis, five Kurds (also Sunnis), one Turkmen and an Assyrian. Three of its members were women. In September 2003, the Iraqi Governing Council gained regional recognition from the Arab League, which agreed to seat its representative in Iraq's chair at its meetings. On 1 June 2004, the Council dissolved after choosing m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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