While the Iraqi dinar was on par with the British pound until it began dropping in 1959, today, it is considered exotic Iraqi currency at best, even though it is still widely used. The Iraqi dinar also had a short stint where it was worth more than three US dollars because Iraqi currancy did not follow the devaluations that US currency did during 1971 and 1973. Knowing these facts when you choose to buy dinar will help you to deal with a dinar banker while having far greater confidence.
In order to accommodate large scale and interbank transactions, a 10,000 note for the Iraqi dinar was created in 2002 by the Central Bank of Iraq. However, whether you will be conducting large transactions while you are in Iraq or just need some local cash, you will find that having dinar around will prove to be very useful. Even though US dollars are excepted practically everywhere since that is the currency that oil is bought, sold, and traded with, you will find that using dinar will make you feel like a local. It will also help the locals to respect you more while you are spending time within the country.