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'Swiss Dinar' to replace Iraq's current currency

The Middle East Online, UK reports:

"The US-led administration in Iraq is set to phase out the New Iraqi Dinar introduced in 1991 and bearing the image of deposed president Saddam Hussein, an official involved in the project said Monday."

"The currency is to be replaced by the so-called Swiss Dinar, in circulation for nearly 50 years until international sanctions were imposed on Baghdad in 1990 in response to its invasion of neighbouring Kuwait."

"He said the US-led authority had considered four options: to keep the current dinar, which bears the image of ousted president Saddam Hussein; reintroduce the Swiss Dinar; opt for the US dollar or create a new currency." 

"The second option won out," he said.


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