Iraqi Swiss Dinar
The Swiss dinar was the Iraqi currency in circulation prior to the 1990 Gulf War with the Coalition Forces. The reason for the adjective "Swiss" is unknown, but there are two possible explanations. The first is that the printing plates for the currency came from Switzerland, although the notes were actually printed in the United Kingdom. After the war, subject to economic sanctions authorised by United Nations resolutions, continued importing of the "Swiss" notes was prohibited, and the Central Bank of Iraq began domestic printing of a new Iraqi dinar. The second possible explanation is that prior to the Gulf War, Iraq was historically a low inflation country, similar to Switzerland.
Read more about Iraqi Swiss Dinar: Inter-war Period, Post War
Famous quotes containing the words iraqi and/or swiss:
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—Zainab Ismael, Iraqi housewife. As quoted in Newsweek magazine, p. 31 (November 16, 1992)
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