Article: “October 3, 2012 MIDEAST MONEY” Is the Iraqi dinar legitimate currency or just exotic collectors item? We know from this article from 2012 that the dinar is in FACT a real currency and is being used inside Iraq as their currency right now. But in 2004, upon its inception, it was not meant to be a permanent currency. …there were many reasons for issuing it. Are these reasons now still legitimate reasons. NO! These reasons are no longer valid and these large 3 zero notes have outlived their usefulness. In fact they are long due to be replaced with normal denominations.