IQD was at 3.22 USD before operation desert storm in 1990 unlike popular belief that it was at 3.22 before operation Iraqi freedom in 2003.
Post operation desert storm Iraq was under economic sanctions and IQD fell to 3000 IQD per USD.
The dinars that were used and printed before 1990 by de la rue were called swiss dinars.
Post sanctions in 1990 Iraq could not place orders to print dinars with de la rue.
This is when Saddam dinars were printed and issued in large quantities.
The value of Saddam dinar started plummeting while the swiss dinar appreciated against the Saddam dinar.
After operation Iraqi freedom in 2003 the provincial government got new IQD printed with De la rue and they were swapped with
Saddam dinar as well as swiss dinar.
Saddam dinar was swapped on par with the new dinar while swiss dinar was swapped at 150 new dinar per swiss dinar.
All facts easily verifiable by a simple google search.
No comments:
Post a Comment