17/10/2019: Protests against economic crisis
Mass protests erupted in Lebanon due to economic crisis, leading to further depreciation of the Lebanese pound.
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.
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.
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.
03/11/1997: Revaluation of the Lebanese pound
The Lebanese pound was revalued at a rate of 1,500 LBP = 1 USD, ending the fixed exchange rate with the US dollar.
02/08/1990: Iraq invades Kuwait
Iraq's invasion of Kuwait resulted in international economic sanctions and further devaluation of the Iraqi dinar.
01/01/1986: Introduction of the parallel exchange market
The parallel exchange market was introduced in Lebanon, leading to a diverging exchange rate between the official and unofficial markets.
22/09/1980: Iran-Iraq War Begins
The Iran-Iraq war started, leading to significant economic challenges and inflation which impacted the Iraqi dinar.
01/01/1976: Lebanese Civil War
The Lebanese Civil War began, causing significant economic instability and devaluation of the Lebanese pound.
01/01/1961: Pegged to the US dollar
The Lebanese pound was pegged to the US dollar at an exchange rate of 1 LBP = 1.5 USD.
27/11/1941: Devaluation of the Lebanese pound
The Lebanese pound was devalued by 41.9% following the breakup of the French franc.
03/10/1932: Independence of Iraq
The Iraqi dinar was introduced as the official currency of Iraq following its independence from British occupation.
01/10/1920: Lebanese pound introduced
The Lebanese pound was introduced at a fixed exchange rate of 1 pound = 20 French francs during the French mandate period.