IQD to GYD

IQD - Iraqi Dinar (د.ع.‏)
GYD - Guyanaese Dollar ($)
1 IQD1 GYD

Currency conversion rates from IQD to GYD

IQDGYD
1 IQD1 GYD
5 IQD5 GYD
10 IQD10 GYD
20 IQD20 GYD
50 IQD50 GYD
100 IQD100 GYD
250 IQD250 GYD
500 IQD500 GYD
1000 IQD1000 GYD
2000 IQD2000 GYD
5000 IQD5000 GYD
10000 IQD10000 GYD
GYDIQD
1 GYD1 IQD
5 GYD5 IQD
10 GYD10 IQD
20 GYD20 IQD
50 GYD50 IQD
100 GYD100 IQD
250 GYD250 IQD
500 GYD500 IQD
1000 GYD1000 IQD
2000 GYD2000 IQD
5000 GYD5000 IQD
10000 GYD10000 IQD

GYD - Guyanaese Dollar (GYD)

Guyanaese Dollar

The Guyanese Dollar is the official currency of Guyana, a sovereign state on the northern coast of South America. It is culturally identified with the English-speaking islands of the Caribbean because it was one of the territories, known as British Guiana, of the British West Indies.

The Guyanese Dollar is the currency in Guyana (GY, GUY). The symbol for GYD can be written G$. The Guyanese Dollar is divided into 100 cents. The exchange rate for the Guyanese Dollar was last updated on May 24, 2019 from Yahoo Finance. The GYD conversion factor has 5 significant digits.

Economy

  • The main economic activities in Guyana are agriculture (rice and Demerara sugar), bauxite mining, gold mining, timber, and shrimp fishing.
  • Chronic problems include a shortage of skilled workers and poor infrastructure.
  • The government has juggled a considerable debt and the urgent need to expand public investment, and its fiscal position traditionally erodes when agricultural and mineral commodity prices are low. The country overhauled its tax code in early 2007 with a Value Added Tax (VAT) that is expected to add significant funds for public spending.
  • The Guyanese economy has shown moderate economic growth since 1999, thanks to the expansion in the agricultural and mining sectors, a more favorable environment for entrepreneurship, a more realistic exchange rate, low inflation, and the continued support of international organizations.
  • Economic growth has slowed as a result of the world recession, but GDP real growth rate continues to be over 3%, according to the CIA World Fact Book.

History

  • In the 1800s, like other British West Indies territories, British Guiana used regular British coins, along with 2 and 4 pennies.
  • The Guyanan Dollar shares the history of currency with other territories in the British West Indies, with a few exceptions: British Guiana continued to use the four-pence coin mill when other territories abandoned it, and used Dollar accounts in public and private sectors exclusively from 1839 (whereas other territories used a mix of accounts in Dollars and the British Pound until 1951).
  • Between 1891 and 1916, four-cent coins were issued specifically for "British Guiana and the West Indies," and between 1917 and 1945 for "British Guiana".
  • In 1916, paper money was first issued by the Government of British Guiana, in denominations of 1, 2, 5, 20 and 100 dollars.
  • Guyana gained independence from United Kingdom on May 26, 1966, and became a republic on February 23, 1970.
  • Banknotes were introduced in 1966 in denominations of 1, 5, 10 and 20 Guyanese Dollars. A second series was issued between 1989 and 1992 in denominations of $20, 100 and 500. The 1996-1999 series added a $1,000 bill. New $100 and $1,000 bills were issued in 2005 with added safety features.

More information about GYD - Guyanaese Dollar (GYD)


IQD - Iraqi Dinar (IQD)

Iraqi Dinar

The Iraqi Dinar is issued by the Central Bank of Iraq. The Dinar was subdivided into 1,000 fils, but inflation has rendered the fils obsolete. As a result the deposition of Saddam Hussein in the 2003 invasion of Iraq, the new Iraqi Dinar was released on October 15, 2003.

The Iraqi Dinar is the currency in Iraq (IQ, IRQ). The exchange rate for the Iraqi Dinar was last updated on May 24, 2019 from Yahoo Finance. The IQD conversion factor has 5 significant digits.

Economy

  • As security improves, foreign investment is helping to spur increased economic activity, particularly in the energy, construction, and retail sectors.
  • To reach its economic potential, Iraq needs to reduce regulatory impediments and make significant upgrades to its oil processing, pipeline, and export infrastructure.

History

  • The Dinar was fixed at par with the British Pound until 1959, then fixed to the US Dollar at one Dinar to 2.8 Dollars. It was decoupled from the US Dollar when that currency was devalued in 1971 and 1973.
  • After the Gulf War in 1991, UN sanctions meant that new, inferior quality banknotes were printed in large quantities-and the Dinar quickly lost its value. The previous issue stayed in circulation, and became known as the ""Swiss dinar."" It continued to circulate, especially in the northern Kurdish region of Iraq.
  • The new (convertible) Iraqi Dinar was released on October 15, 2003. It replaced all old Dinar and Swiss Dinar banknotes, which were no longer legal tender. (One old Dinar was exchanged for one new Iraqi Dinar; one unit of the Swiss"" Dinar was exchanged for 150 new Iraqi Dinars.) The new Iraqi Dinar banknotes were similar to the Swiss Dinar notes, with more security features to guard against counterfeiting.
  • The new banknotes were in demand by overseas investors expecting the currency to increase in value as Iraq's economy improved.

More information about IQD - Iraqi Dinar (IQD)