Iraqi Dinar (Noun)
Meaning
The basic unit of money in Iraq; equal to 1,000 fils.
Classification
Nouns denoting quantities and units of measure.
Examples
- The Iraqi dinar has been the standard unit of currency in Iraq since the country gained independence from the United Kingdom in 1932.
- Local shopkeepers in Baghdad prefer to conduct business using the Iraqi dinar over foreign currencies such as the US dollar due to the stability of the local economy.
- The new ATM at the Baghdad airport can be used to withdraw Iraqi dinar from a bank account.
- Under Saddam Hussein's rule, the government had fixed the value of the Iraqi dinar at 3 US dollars, despite the country's struggling economy.
- Investors around the world have been clamoring to get their hands on Iraqi dinar, speculating that the currency will rise in value as Iraq's oil production increases.