Iraqi Dinar (IQD) Exchange Rate Calculator
Convert between US Dollars and Iraqi Dinars using current market rates
Converted Amount
Understanding the Iraqi Dinar Exchange Rate
The Iraqi Dinar (IQD) is the official currency of Iraq, managed by the Central Bank of Iraq (CBI). Unlike major currencies like the Euro or Yen, the IQD exchange rate is heavily influenced by government auctions and official pegging rather than purely by open forex market fluctuations.
Official Rate vs. Parallel Market Rate
When calculating your exchange, it is vital to know which rate is being applied. There are typically two distinct rates in Iraq:
- Official CBI Rate: The rate at which the Central Bank sells dollars to commercial banks for international trade. As of 2024, this is typically around 1,310 IQD per 1 USD.
- Parallel (Street) Rate: The rate found in local exchange houses and small businesses. This rate is usually higher than the official rate, often ranging between 1,450 and 1,550 IQD per USD depending on supply and demand.
How to Calculate Manually
If you are converting from USD to IQD, you multiply your dollar amount by the exchange rate. For example, if you have $100 and the rate is 1,310, you multiply 100 × 1,310 = 131,000 IQD.
If you are converting from IQD to USD, you divide your dinar amount by the exchange rate. For example, if you have 250,000 IQD and the rate is 1,310, you divide 250,000 ÷ 1,310 ≈ $190.84.
Practical Conversion Examples
| USD Amount | IQD Value (at 1,310) | IQD Value (at 1,500) |
|---|---|---|
| $50 | 65,500 IQD | 75,000 IQD |
| $100 | 131,000 IQD | 150,000 IQD |
| $1,000 | 1,310,000 IQD | 1,500,000 IQD |