Currencies Exchanged by Treasury Vault
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The word Dinar is the name of the official currency of several countries around the world (Algeria, Bahrain, Jordan, Kuwait, Kuwait, Libya, Republic of Macedonia, Serbia, Sudan, Tunisia, and Iraq). Despite these countries choosing to use the same name to represent their currency notes, each country’s currency stands on its own, and is sovereign, independent, different, and unique to the country they represent.
Treasury Vault, when referring to the Dinar, makes a market in the Iraqi Dinar currency only. The IQD (exchange symbol of the "New" Iraq Dinar) is the official currency of Iraq "post-Saddam" era. The IQD denomination notes we exchange are the following: 25,000, 10,000, 5,000, 1,000, 500, 250, 50. Buy Iraqi Dinar here with confidence.
The dong (VND) is the official currency of the country of Vietnam. Paper notes come in denominations of 1,000d, 2,000d, 5,000d, 10,000d, 20,000d, 50,000d, 100,000d, and 500,000d. Only recently, in 2003, coins were reintroduced in denominations of 200d, 500d, 1,000d, 2,000d and 5,000d.
Most Vietnamese people prefer notes to coins and occasionaly may refuse to accept a coin. It is very common that ripped or torn notes are refused, but faded or discoloured notes are usually fine. In general people prefer notes to be shiny, new, crisp and unfolded. Traditionally money is given at the New Year, at weddings and other family occasions, and fresh new notes are considered 'Lucky', while grubby, crumpled soggy notes are very much frowned upon. Treasury Vault currently only deals in the currency notes, not the coins.
Just like all other civilized nations, Indonesia has its own set form of currency which is known locally as Rupiah or Rp for short. Rupiah comes in coin and note’s variations and it can be a little confusing for someone from the UK, USA or Australia to understand due to the high denominations. Indonesia is known for having a great exchange rate for the rest of the world and this is a major factor on why it is a popular tourist destination for so many people. Combined with the fact that everything is so cheap you can pretty much have a Holiday in Bali for less then what you would pay if you went interstate in your home country.
The dinar (DZD) is the official currency of Algeria, whose name stems from the Roman "denarius." Divided into 100 centimes, the dinar is pegged to a basket of currencies in what is known as a composite regime. The current series of notes was issued in 1981, 1992, and 1998; some older notes, however, may be redeemed until 2008.
- Importing and exporting local currency is prohibited for foreigners.
- Only residents are allowed to do so, with a cap on 200 DZD.
- Foreign currency may be imported for free, but must be declared.
- Foreign currency export is limited to the amount imported.
- Foreigners must have proof of foreign currency exchange in order to leave the country.
In 1965, the Bahrain Currency Board introduced notes in denominations of ¼, ½, 1, 5 and 10 dinar. In 1973, the Bahrain Monetary Agency took over the issuance of paper money, and in 1979 it introduced a new family of notes dated 1973 in Arabic, with denominations of ½, 1, 5, 10 and 20 dinar. In September of 2006, the Bahrain Monetary Agency was renamed the Central Bank of Bahrain. In March of 2008, the Central Bank of Bahrain introduced a new family of notes reflecting Bahrain's heritage as well as its modern development. Saudi riyals are also acceptable in Bahrain, with the exception of the Saudi 500 riyal note which is only accepted in major supermarkets, airports and electronic shops.
While many countries in the Middle East thrive on their oil reserves, Jordan is an exception in this trend. The country's landlocked position brings with it scarce water supplies and an inadequate supply of natural resources (namely oil and coal). As such shortages often translate into problems such as debt, poverty and unemployment, Jordan relies on foreign aid from its oil-rich neighboring countries. Recently, Jordan has been trying harder to improve its living standards by engaging in economic reform. Since King Abdallah has taken throne, he has worked very closely with the IMF, been careful when implementing monetary policy, made considerable progress with privatization, and relaxed the trade regime just enough so that it has assured Jordan's membership in the World Trade Organization. All of these actions have helped Jordan become more productive and put it on the foreign investment map. Jordan's main goals are to reduce its reliance on foreign aid, lower its budget deficit, and increase incentives to invest in order to encourage job creation.
The Kuwaiti Dinar, denoted by KWD, is the official currency of Kuwait. The KWD, which is divided into 100 units, was introduced to Kuwait in 1960 as a replacement for the Indian Rupee. The currency has reached a reestablished value and maintained a very high exchange rate, making it one of the highest valued currencies in the world.
The Libyan dinar is the official currency used in Libya. Denoted by LYD, one Libyan dinar can be divided into 1000 Libyan dirhams. During the time Libya was still a part of the Ottoman Empire, the country used the Ottoman Empire currency, piastres. When Italy started taking over, the lira was introduced. The introduction of the lira sparked the trend of using a different currency for different territories. At one point, the lira, Algerian franc and Egyptian pound were used nationwide. When Libya gained its independence in 1951, the Libyan pound was introduced. In 1971, the Central Bank of Libya introduced the nation's existing currency: the Libyan dinar. Today, the Bank supervises the banking system and regulates credit. In 1972, the Libyan Arab Foreign Bank was established to deal with matters pertaining to overseas investments.
The denar (plural: denari) is the currency of the Republic of Macedonia. It is subdivided into 100. The name denar comes from the name of the ancient Roman monetary unit, the denarius. The currency symbol is ???, the first three letters of its name. The Macedonian denar was introduced on April 26, 1992.
The official currency in Serbia is the Serbian Dinar - RSD (although the old symbol CSD is still in use in some places).
In 1960, banknotes were introduced by the Central Bank of Tunisia in denominations of ½, 1 and 5 dinar. These were followed by 10 dinar notes in 1969. The last ½ dinar notes were dated 1973 whilst the last 1 dinar notes were dated 1980. 20 dinar notes were introduced in 1980, with the last 5 dinar notes dated 1993. 30 dinar notes were issued in 1997. 50 dinar notes were issued on July 25, 2009. In 2006 an updated version of the frequently used 10 dinar note, with holographic foil, was issued.
The peso used to be in constant devaluation year on year against the US dollar and other hard currency. However the peso seemed to stabilize against the US dollar in the 1994 to 1997 period, to continue devaluation afterwards with a peak on pesos per US dollar nearing and sometimes surpassing 700 CLP per 1 US dollar in 2002 and 2003. Since that peak the peso has been revalued significantly and many speculate it will continue to do so.
South Korea's monetary unit, the Won, is traded against all international currencies. For many years, the Won traded around 750-850 won/US$. During the financial crisis beginning in late 1997, the value of the Won fell to almost 2,000 won/US$. Since that period, the Won has recovered much of its pervious value.
The Bank of Korea issues currency and mints coins. The currency units are denominated in the following notes: 1,000, 5,000, and 10,000 Won notes. The coins include the 1, 5, 10, 50, 100, and 500 Won coins (The 1 and 5 Won coins are not used in general circulation). Treasury Vault currently only deals in the currency notes, not the coins.
Like a number of gulf countries including Iran, Oman, Yemen and Saudi Arabia, Qatar uses riyal as its official currency unit and is called Qatari riyal. The country adopted riyal as its national currency in 1973 when it took over Qatar and Dubai riyal at par.
Qatar is ranked among the major oil producing countries in the world. The economy of the country is largely dependent on oil revenues for its functioning that accounts to a huge 85% of the total income of the country. In a true sense, oil serves as the backbone of the economy of Qatar. Also, in context of natural gas exports, the country claims the 3rd place. Moreover, Qatar stands 35th among 173 countries in the Country Credit ratings published by the magazine "Institutional Investor". The currency of the country provides good support for the foreign trade that has flourished. The imports and exports of all the currencies is free in Qatar.
The baht originated from a traditional unit of mass. Its currency value was originally expressed as that of silver of corresponding weight and was in use probably as early as the Sukhothai period in the form of bullet coins known in Thai as phot duang. These were pieces of solid silver cast to various weights corresponding to a traditional system of units related by simple fractions and multiples, one of which is the baht.
In 2009 the Bangko Sentral ng Pilipinas announced that it had launched a massive redesign for current banknotes to further enhance security features and improve durability. The members of the numismatic committee include Bangko Sentral Deputy Governor Diwa Guinigundo and Dr. Ambeth Ocampo Chairman of the National Historical Institute. The new banknote designs feature famous Filipinos and iconic natural wonders. The BSP started releasing the initial batch of new banknotes in December 2010. Current banknotes will remain legal tender for at least three years exactly in December 2013.
All banknotes other than the 1 and 2 rupees feature a portrait of Muhammad Ali Jinnah on the obverse along with writing in Urdu. The reverses of the banknotes vary in design and have English text. The only Urdu text found on the reverse is the Urdu translation of the Prophetic Hadith, "Seeking honest livelihood is worship of God."
The banknotes vary in size and color, with larger denominations being longer than smaller ones. All contain multiple colors. However, each denomination does have one color which predominates. All banknotes feature a watermark for security purposes. On the larger denomination notes, the watermark is a picture of Jinnah, while on smaller notes, it is a crescent and star. Different types of security threads are also present in each banknote.
The current series of banknotes for the New Taiwan Dollar began circulation in July 2000. The current set includes banknotes for NT$100, NT$200, NT$500, NT$1000, and NT$2000. Note that the NT$200 and NT$2000 banknotes are not commonly used by consumers. This may be due to the tendencies of consumers to simply use multiple NT$100 or NT$500 bills to cover the range of the NT$200, as well as using NT$1000 bills or credit/debit cards instead of the NT$2000 bill. Lack of government promotion may also be a contributing factor to the general lack of usage. It is relatively easy for the government to disseminate these denominations through various government bodies that do official business with the citizens, such as the post office, the tax authority, or state owned banks. There is also a conspiracy theory against the Democratic Progressive Party, the ruling party at the time the two denominations were issued. The conspiracy states that putting Chiang Kai-shek on a rarely used banknote would "practically" remove him from the currency, while "nominally" including him on the currency would not upset supporters on the other side of the political spectrum that much (the Pan-Blue Coalition).
The issue of Hong Kong dollar notes is governed today by the Hong Kong Monetary Authority (HKMA), the governmental currency board of Hong Kong. Under licence from the HKMA, three commercial banks issue their own banknotes for general circulation in the region. Notes are also issued by the HKMA itself. In most countries of the world the issue of banknotes is handled exclusively by a single central bank or government. The arrangements in Hong Kong are unusual but not unique; a comparable system is used in the United Kingdom, where eight banks issue banknotes.
The Mexican peso is the 12th most traded currency in the world, the third most traded in the Americas, and by far the most traded currency in Latin America.
All Egyptian banknotes are bilingual, with Arabic texts and Eastern Arabic numerals on the obverse and English and Hindu Arabic numerals on the reverse. Obverse designs tend to feature an Islamic building with reverse designs featuring Ancient Egyptian motifs (buildings, statues and inscriptions).
The New Israeli Shekel / Sheqel ñ abbreviated as NIS, is Israelís currency. Common variety of notes consist of 20,50,100 & 200 shekels.
The Chinese Yuan, denoted by CNY, is the official currency in China. Yuan in Chinese literally means a "round object" or "round coin" and is thus considered the base unit of a currency. When pronounced correctly, the word "yuan" should sound like the English word "wren". Images of five of China’s most famous landmarks are presented on the bank notes of 5th edition of the Renminbi – the Chinese currency. The bank notes represent 5 famous places highlighted in China: 100 Yuan - The Great Hall of the People in Beijing, 50 Yuan - The Potala Palace in Tibet, 20 Yuan - The Li River in Guilin, 10 Yuan - The Yangtze River, 1 Yuan - West Lake in Hangzhou.
The design of banknotes is approved by the Central Government on the recommendations of the Central Board of the Reserve Bank of India. Currency notes are printed at the Currency Note Press, Nashik, Bank Note Press, Dewas, Bharatiya Note Mudra Nigam with Limited presses at Salboni and Mysore and at the Watermark Paper Manufacturing Mill, Hoshangabad.The current series of banknotes, which began in 1996, is called the Mahatma Gandhi series. At present, banknotes are issued in the denominations of 5, 10, 20, 50, 100, 500 and 1,000.
In 2002, banknotes were introduced in denominations of 1, 2, 5, 10, 20, 50, 100, 500 and 1000 Afghani. The 1, 2 and 5 Afghani notes were replaced by coins in 2005.
The Brazilian real, also denoted by BRL, is the official currency of Brazil. The BRL was implemented on July 1, 1994. The Minister of Finances at the time, Fernando Cardoso, was soon elected President as the success of the new currency took off. The real replaced the previous "cruzeiro," which had been the monetary unit since 1942. It was introduced with distinct objectives: to tackle high inflation and to stabilize the exchange rate. In January 1999, Brazil decided to abandon the peg to the United States Dollar (USD) and devalue the real, which triggered a financial crisis.
Riyal is the term given to currencies of various countries lying in the Arabian Peninsula consisting of Iran, Saudi Arabia, Oman, Qatar and Yemen. One of the most important riyal currencies of the countries mentioned is the Saudi riyal that forms national currency of Saudi Arabia. Saudi riyal is often denoted by the sign SR in English. Saudi Arabia has got about one - fourth share in the total crude oil and petroleum reserve in the world and that shapes the economy of the country. More than 70% of the countryís total revenue is brought in by crude oil and accounts to 90% of the total exports done by the country. A currency as stable as riyal, does help in the overall growth of countryís economy.
These notes feature the face of Yusof bin Ishak, the first president of the Republic of Singapore, on the obverse, and the reverse depicts a feature of civic virtue. There are both paper and polymer notes in circulation. The designs of the polymer notes are very similar to the corresponding paper note except for the slightly slippery feel and a small transparent window design in the corner of the banknote. Polymer notes are progressively replacing the paper banknotes in circulation. The notes also have Braille patterns at the top right-hand corner of the front design.
The yen is the official national currency of Japan, and is denoted by JPY. The Meiji government introduced the yen to replace the previous complex system of the Edo Period, where there was no fixed exchange rate between the various coins used. The New Currency Act of 1871 established the yen as the official unit of currency and moved Japan onto the Gold Standard. It was named the "yen" because of the direct translation to "round object." In April of 1949, the yen was pegged at 1 USD = •360, where it stayed until 1971. At this time, however, the Bretton Woods system collapsed. This international monetary system, based on stable and adjustable exchange rates, was reluctantly switched to a regime of floating exchange rates and the value of the yen started to float as it still does today.
The Syrian pound is the official currency of Syria and is issued by the Central Bank of Syria. The Banque de Syrie et du Grand-Liban (BSL) issued the Lebanese-Syrian currency for 15 years, starting in 1924. Two years before the expiration of the 15 year period, the BSL split the Lebanese-Syrian currency into two separate currencies that could still be used interchangeably in either state. In 1939, the bank was renamed the Banque de Syrie et du Liban. The Lebanese and Syrian currencies split in 1948. From 1961, a series of official exchange rates were in operation, alongside a parallel, market rate which diverged dramatically from the official rate in the 1980s.
The Lebanese pound, denoted by the ISO code LBP, is the official currency of Lebanon. Prior to World War I, the Ottoman Lira was the official currency in Lebanon. In 1918 after the fall of the Ottoman Empire, the currency became the Egyptian Pound. Upon gaining control of Syria and Lebanon, the French sought to replace the Egyptian pound with a new currency for Syria and Lebanon, which was linked to the Franc. In 1937, Lebanon got its own currency, still linked with the French Franc, and interchangeable with Syrian money. In 1941, following France's defeat by Nazi Germany, the currency was linked instead to the British Pound sterling. Banknotes currently come in values of 1,000, 5,000, 10,000, 20,000, 50,000 and 100,000 pounds.
A new series of banknotes, the "E-9 Emission Group" entered circulation on 1 January 2009, with the E-8 group ceasing to be valid after 31 December 2009 (although still redeemable at branches of the Central Bank until 31 December 2019). The E-9 banknotes refer to the currency as "lira" rather than "new lira", and include a new 200 lira denomination. The new banknotes have different sizes to prevent forgery. The main specificity of this new series is that each denomination depicts a famous Turkish personality, rather than geographical sites and architectural features of Turkey.