There’s a lot of websites, blogs, and forums that have Iraqi Dinar exchange rate news, however the best place to find the rate of the Iraqi Dinar is at the Central Bank of Iraq or CBI’s website. This website can be found at www.cbi.iq. Two of our other favorite sites for finding the rate of the Iraqi Dinar, Vietnam Dong, Indonesian Rupiah, and other currencies are the websites XE and Oanda.
You can also view the official rate of the Vietnam Dong on XE or Oanda as well, but the State Bank of Vietnam’s website will also show the most up to date exchange rate of the Vietnam Dong to the U.S. Dollar. Keep in mind exchange rates are constantly changing throughout the day. No one knows what the future will hold for the Iraqi Dinar or any other currency. Currencies fluctuate in value; and go up and down; not only every day, but throughout the day.
When buying the Iraqi Dinar or Vietnam Dong, the exchange rate you see on the Central Bank Of Iraq (CBI) website or the State Bank Of Vietnam will differ from that you see on dealers sites. You will notice the rates you see on websites of Dinar sellers will give you less Dinar per Dollar than the official rate. This is normal.
Even when exchanging common currencies like the Euro, Pound, Mexican Peso, or even Canadian Dollar you will pay a spread or a margin to do so. The Iraqi Dinar and Vietnam Dong are no different, you will pay a spread to turn your US Dollars into either of these currencies. The spread will generally be higher on these currencies than other more common currencies, as these are considered to be exotic currencies and they are harder to get, and there’s more cost associated with obtaining these currencies.
The Iraqi Dinar especially, as currently the Iraqi Dinar is not a traded currency, and is not what some people would refer to as a “pegged” currency. You will not see the Iraqi Dinar on the Forex Markets. On the flip side the Vietnam Dong is a “traded” currency. That is another reason the Iraqi Dinar typicall has higher spreads than other currencies.