01/01/2023: Planned Fourth Redenomination of Ariary
Madagascar announces plans for the fourth redenomination of the Ariary, aiming to simplify the currency system further.
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.
01/01/2017: Third Redenomination of Ariary
The Malagasy Ariary experiences its third redenomination, resulting in the currency being divided by 5, making 1 new Ariary equal to 5 old Ariary.
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.
01/08/2003: Second Redenomination of Ariary
The Malagasy Ariary goes through its second redenomination, with 1 new Ariary equal to 5 old Ariary.
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.
16/12/1993: First Redenomination of Ariary
The Malagasy Ariary undergoes its first redenomination, replacing the currency at a ratio of 1 new Ariary to 5 old Ariary.
02/08/1990: Iraq invades Kuwait
Iraq's invasion of Kuwait resulted in international economic sanctions and further devaluation of the Iraqi dinar.
01/01/1983: Introduction of Malagasy Ariary
The Malagasy Ariary is introduced as the new official currency of Madagascar, replacing the Malagasy Franc.
22/09/1980: Iran-Iraq War Begins
The Iran-Iraq war started, leading to significant economic challenges and inflation which impacted the Iraqi dinar.
26/06/1975: Independence of Madagascar
Madagascar declares independence from French colonial rule, leading to changes in the national currency.
26/06/1961: Introduction of Malagasy Franc
Malagasy Franc introduced as the official currency of Madagascar to replace 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.