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.