IQD to LYD

IQD - Iraqi Dinar (د.ع.‏)
LYD - Libyan Dinar (د.ل.‏)
1 IQD1 LYD

Currency conversion rates from IQD to LYD

IQDLYD
1 IQD1 LYD
5 IQD5 LYD
10 IQD10 LYD
20 IQD20 LYD
50 IQD50 LYD
100 IQD100 LYD
250 IQD250 LYD
500 IQD500 LYD
1000 IQD1000 LYD
2000 IQD2000 LYD
5000 IQD5000 LYD
10000 IQD10000 LYD
LYDIQD
1 LYD1 IQD
5 LYD5 IQD
10 LYD10 IQD
20 LYD20 IQD
50 LYD50 IQD
100 LYD100 IQD
250 LYD250 IQD
500 LYD500 IQD
1000 LYD1000 IQD
2000 LYD2000 IQD
5000 LYD5000 IQD
10000 LYD10000 IQD

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)


LYD - Libyan Dinar (LYD)

Libyan Dinar

The Libyan Dinar is the official currency of Libya. The Libyan Dinar is subdivided into 1000 dirham. When Libya was still under the Ottoman Empire, the Ottoman Empire piastres were used. When Italy ruled Libya, the introduction of their Lira initiated a trend to use a variety of currencies from different countries.

The Libyan Dinar is the currency in Libya (Libyan Arab Jamahiriya, LY, LBY). The symbol for LYD can be written LD. The Libyan Dinar is divided into 1000 dirhams. The exchange rate for the Libyan Dinar was last updated on January 25, 2019 from The International Monetary Fund. The LYD conversion factor has 6 significant digits.

Economy

  • The Libyan economy is reliant on profits from the oil sector. These high profits, in combination with the small population, give Libya the highest GDP per capita in Africa.
  • Economic transformations to reintegrate the Libya into an international playing field have been initiated by UN and US sanctions.
  • Libya is still has a long way to go in transforming its socialist-oriented economy, planning for privatization, and minimizing grants.

History

  • In 1951, Libya became independent, and the Libyan Pound was introduced.
  • In 1971, the Central Bank of Libya launched the Libyan Dinar.
  • In 1972, the Libyan Arab Foreign Bank was established to increase overseas investments.
  • In 1975, coins in denominations of 1, 5, 10, 20, 50 and 100 dirham were introduced, which upset the Federation of Arab Republics.
  • In 1979, the second series of coins of the same denominations was launched.
  • In 2001 and 2004, denominations of ¼ and ½ dinar coins were issued.
  • In 2009, new 50 and 100 dirhams, as well as ¼ and ½ dinar coins, were issued.

More information about LYD - Libyan Dinar (LYD)