5 Dinars

Iraq's 5 Dinar note of this series was issued against the backdrop of the Iran-Iraq War, which began in September 1980 — a conflict that would eventually force Baghdad to print money on a scale that collapsed the dinar's purchasing power over the following decade. This particular issue predates the worst of that inflation, but it belongs to the last generation of Iraqi notes that maintained meaningful backing before war expenditure overwhelmed fiscal discipline.

The watermark is the sole security feature — modest even by regional standards of the time.