The Iraq Dinar is the official currency of Iraq. The dinar is subdivided into 1,000 fils, and is also often presented with the symbol "IQD". As of June 2016, the value of one Iraq Dinar was approximately $0.00085 USD.The history of the Iraqi Dinar can be traced back to 1932, when it was first introduced by the British as a way to replace the Indian Rupee in Mesopotamia. After World War II ended and Iraq gained independence from Britain in 1947, the dinar remained relatively stable against international currencies until 1959. In that year, following a military coup d'état which deposed King Faisal II, Iraq experienced a period of political and economic turmoil which led to a sharp decline in value for its currency.Since 2003, after Saddam Hussein was overthrown by coalition forces during Operation Iraqi Freedom (OIF), there has been significant instability within Iraq's economy due largely to continued terrorist activity throughout much of the country. Despite this instability however, over recent years there has been an increase in foreign investment into Iraqi businesses and infrastructure projects - particularly from countries within Asia - leading many experts to believe that now may be a good time to invest in IQD.
