The IQD is the currency code for the Iraqi dinar, which has been in use since 1931. Synonyms for the IQD include the Iraqi currency, the dinar, or simply the IQ. The currency has had a rocky history, with its value decreasing significantly after the 2003 US-led invasion of Iraq. However, in recent years there have been efforts to stabilize the currency and improve Iraq's economy. Despite some volatility, the IQD remains an important currency in the Middle East, and is used in many transactions throughout Iraq and neighboring countries.