Historic Iraqi dinar Azerbaijani manat

31/12/2020: Digital Currency Pilot

Azerbaijan launched a pilot program to test the use of a digital currency, the digital manat, in an effort to modernize its financial system.

15/10/2018: Government Formation

The formation of a new Iraqi government after parliamentary elections brought hopes of stability and potential economic growth, positively impacting the Iraqi dinar.

20/12/2017: Second Devaluation

The manat faced another devaluation, this time by around 30%, due to economic challenges and a sharp drop in oil prices.

20/12/2015: Devaluation

The manat was devalued by more than 30% against the US dollar in response to falling oil prices.

10/06/2014: ISIS captures Mosul

The capture of Mosul by ISIS led to a further devaluation of the Iraqi dinar and economic instability in the region.

20/02/2005: Pegged to US Dollar

The Azerbaijani manat was pegged to the US dollar at a rate of 1.6 manat per dollar.

15/10/2004: Introduction of New Iraqi Dinar

A new series of banknotes with enhanced security features was introduced to replace the previous Iraqi dinar notes.

20/03/2003: US-led Invasion of Iraq

The US-led invasion led to the collapse of the Iraqi government, causing instability and a sharp decline in the value of the Iraqi dinar.

14/06/2001: Currency Reform

A currency reform was implemented, resulting in a new manat with a higher exchange rate.

31/12/1993: Hyperinflation

Azerbaijan experienced a period of hyperinflation, leading to the devaluation of the manat.

14/08/1992: Introduction of Manat

The Azerbaijani manat currency was introduced as the official currency of Azerbaijan, replacing the Soviet ruble.

02/08/1990: Iraq invades Kuwait

Iraq's invasion of Kuwait resulted in international economic sanctions and further devaluation of the Iraqi dinar.

22/09/1980: Iran-Iraq War Begins

The Iran-Iraq war started, leading to significant economic challenges and inflation which impacted the Iraqi dinar.

03/10/1932: Independence of Iraq

The Iraqi dinar was introduced as the official currency of Iraq following its independence from British occupation.