How to Convert Iraqi Dinars to US Dollars

A pre-war Iraqi Dinar note.

The Dinar is the official currency of Iraq. Exact conversion rates between the Iraqi Dinar and the U.S. dollar vary daily; however, one U.S. dollar is worth well over 1,000 Iraqi Dinars. To convert between the two currencies, you must first know the conversion factor. This can be found online or in many major newspapers.

Instructions

1. Find the conversion factor between Iraqi Dinars and U.S. dollars. You can search for this online or look it up in the Business section of a major newspaper. The number is often shown as "U.S. dollar buys" for Iraqi Dinars (IQD). Most banks would also be able to provide this information to you.

2. Take the amount of Iraqi Dinars you want to convert and divide that amount by the "U.S. dollar buys" figure. For this example, assume you have 35,000 Iraqi Dinars and the "U.S. dollar buys" figure is 1,150. 35,000 Iraqi Dinars divided by 1,150 equals 30.43 U.S. dollars.

3. Reverse the process by multiplying the number of U.S. dollars by the conversion factor to convert U.S. dollars to Iraqi Dinars.

4. Search the Web for "currency converter" for another alternative. Many sites offer this service and always have up-to-date conversion factors. On these sites, you simply specify the two country's currencies and the amount of one or the other currency, and the conversion is automatic.

Tips & Warnings

• Since currency conversion factors change daily, it is important to look up the most current conversion factor before you do the conversion. Be aware that when you convert actual cash at a bank or money exchange, the rates will vary from the base conversion rate to allow some profit for the money changer.

References

• Yahoo! Finance: Currencies Center
• Bloomberg: Currencies
• CNNMoney: World Currencies