Iraqi Dinar Discussion Board

[Aerospace]

CBI history, Dinar value
http://www.cbi.iq/history.html
From the new Cental Bank of Iraq web site.

By 1987 the banking system consisted of the Central Bank, the Rafidayn Bank, and the Agricultural, Industrial, and Real Estate banks. A 5 percent devaluation reduced the value of the dinar to US$3.2169, the official rate which remained until the Gulf War, although in late 1989, the black market rate was reported to be 1.86 dinars for US$1. (That's down close to 50 cents per dinar by 1989)After the Gulf War in 1991, and due to the economic blockade, the previously used Swiss printing technology was no longer available. A new, inferior quality notes issue was produced. The previous issue became known as the Swiss dinar and continued to circulate in the Kurdish region of Iraq. Due to excessive government printing of the new notes issue, the dinar devalued quickly, and in late 1995, US$1 was valued at 3,000 dinars.

Anyone trying to tell you the dinar was worth $3 just before the war is wrong.
Here the Central Bank of Iraq is saying the dinar had dropped to about 50 cents by the late 80s and then collapsed to 3000:1 by 1995. That's 15 years ago.

Saddam was a DICTATOR. He dictated that they keep the official rate at $3 to a dinar. That rate was laughed at, and not honored by the rest of the world. Everyone involved with the dinar for any time knows this is a fact. LOL... well... almost everyone.