Many people often wonder where they can find the value of the Iraqi Dinar. To find the rate or the current value of the Iraqi Dinar today you need look no further than the website for the Central Bank of Iraq. They always have the most up to date rate of the value of the Iraqi Dinar to USD right on their website. The website can be found at www.cbi.iq.
If your looking for the value of the Iraqi Dinar, Vietnam Dong, or other currencies you can always look to websites like XE or Oanda. They have up to date exchange rates and can tell you the value of any currency from Euros to Pounds to Canadian Dollars or even the more exotic currencies like the Iraqi Dinar, Vietnam Dong, Indonesian Rupiah, South Korean Won, or any other currency you’re looking for.
The value of the Iraqi Dinar is somewhat different from other currencies. It’s different than more common currencies such as the Euro, Pound, Canadian Dollar in that it’s considered an exotic currency. It’s more difficult to get a hold of, and because of that the spreads or margins associated with buying Iraqi Dinar and other “exotic” currencies tends to be a bit higher than more common currencies.
Some examples of other “exotic” currencies would be the Vietnam Dong, South Korean Won, or Indonesian Rupiah just to name a few. The Iraqi Dinar also however differs from these currencies, even though they are all considered to be exotic currencies.
The Iraqi Dinar is not a “traded” or “pegged” currency. This means it’s not internationally traded and it’s not traded on the Forex Markets. Even exotic currencies like the Dong and Rupiah are. Because of this it’s a bit trickier determining the value.
Unlike traded currencies which fluctuate and get their value from how they stand in relation to other currencies, the Iraqi Dinar rate doesn’t change nearly as much or as often as these other currencies and is trickier in how the rate is determined. It’s partially determined just by what the CBI or Central Bank Of Iraq says it’s value is but also based upon auctions as well. To complicate things even further prices often vary even more depending upon supply and demand and how brokers decide to price their Dinar. If the larger brokers raise their prices those price increases trickle down to the smaller dealers which then trickle down to the consumer.
Hope that gives you a clearer understanding of the value of the Iraqi Dinar as well as other currencies and how that is determined.