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.
06/09/2018: Announcement of new dinar notes
The Central Bank of Libya announces the release of new dinar banknotes with enhanced security features to combat counterfeiting.
28/07/2014: Recognition of rival governments
The Libyan Supreme Court recognizes two rival governments, further fragmenting the country and impacting the value of the 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.
17/02/2011: Start of the Libyan Civil War
The Libyan Civil War begins, leading to political instability and further devaluation of the Libyan dinar.
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.
02/08/1990: Iraq invades Kuwait
Iraq's invasion of Kuwait resulted in international economic sanctions and further devaluation of the Iraqi dinar.
07/04/1986: US imposes economic sanctions
The United States imposes economic sanctions on Libya, severely impacting the value and stability of the Libyan 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.
02/03/1978: Establishment of the Central Bank of Libya
The Central Bank of Libya is established, becoming the sole authority responsible for issuing and managing the Libyan dinar.
08/09/1971: Introduction of the Libyan dinar
The Libyan pound is replaced by the Libyan dinar, at a rate of 1 dinar = 1 pound.
24/12/1951: Independence of Libya
Libya gains independence from Italy, introducing the Libyan pound as its currency.
03/10/1932: Independence of Iraq
The Iraqi dinar was introduced as the official currency of Iraq following its independence from British occupation.