The Iraqi dinar -
So before you send money to Iraq you will need to know a little more about the currency that you will be sending. The currency that Iraq uses is the Iraqi dinar which was introduced in 2004 directly after the much awaited fall of Saddam Hussein. Today many people will arrange a money transfer to Iraq in US dollars so that the recipient can buy Iraqi dinar.
Use a currency converter
One way to make sure you are getting a great deal when you exchange foreign currency online is to use a currency converter. These are very straightforward to use and enables you to see the currency rate Iraq currency is being traded for at any time. There is no cost involved when you use the currency converter and the conversion takes just a second or two. So make sure you take a look at this before you arrange your money transfer.
Investing in Iraq
Today there are people who are seeing the potential of Iraq and are investing in foreign currency in Iraq. Often the exchange rate is very generous and someone looking to exchange US dollars for Iraqi dinar can purchase a lot of foreign currency. Many of these people choose to arrange a money transfer to Iraq so that a recipient can buy Iraqi dinar on their behalf.