Iraqi Dinar Investment?
|November 16, 2011||Filled under All Dinar Trade Articles|
Iraqi Dinar Revaluation
There has been a lot of speculation by many for years, since the defeat of Saddam Hussein, that the new Iraqi Currency would revaluate someday making it a gold mine investment if you get into it before it revaluates. Prior to 2003, the Iraqi dinar was worth as much as $3.28 to the dinar.
The post Saddam Hussein era threw away the old dinars that had Saddam’s photo on the currency, and replaced it with the new currency.
Dinar Iraqi Today Exchange Rate
At the beginning of the new currency in late 2003, the new Iraqi dinar had an exchange rate of about 4000 dinars to the dollar. The Iraqi dinar exchange rate has increased in value to today’s current value of 1170 dinar to the dollar.
It has remained at this rate for the past few years and is only used in Iraq. You can visit the (CBI) Central Bank of Iraq’s website to get the daily exchange rate for the Iraqi dinar.
You will always be able to get other news from other news sites related to the Iraqi currency issues, but until it has been officially mentioned on the CBI’s website, it is just news and not written in stone. If a day should come when the Iraqi Dinar revaluation occurs, the new exchange rates will be posted on the CBI”s website. If you don’t see it there, it won’t be official.
The current value Iraqi dinar has been at the artificial program rate of 1170 dinars to the dollar for a few years now. This rate won’t change until the (IMF) International Monetary Fund makes a change as it is in their jurisdiction to do so.
Iraqi Dinar to United States Dollar
Many speculators believe the New Iraqi Dinar Exchange Rate will eventually go back to the previous levels of over three dollars to the Iraqi dinar. The war torn country of Iraq has come along way since Saddam Hussein was defeated. A new government is now in place and many positive signs are showing the world that Iraq is on its way back to being a very prosperous economic country.
Having the world’s 3rd largest oil reserves, Iraq is allowing many of the world’s largest oil companies to come in and tap into their oil reserves.
You can do a Google search to locate many avenues for purchasing Iraqi dinars from online sources, and you will find many places to make your purchases, if that is your desire. You will be able to easily find a dinarbanker to buy Iraqi dinars at competitive rates.
Many individual speculators buy and sell their Iraqi dinars on eBay which also offers very competitive Iraqi exchange rates.
Iraqi Dinar Speculation
Those entering into the Iraqi dinar investment should not do so without considering the great risk that goes along with an investment such as this. Although many positive things have manifested in Iraq since the new Iraqi dinar has come into existence, there are still considerable risk buying their currency.
Taking a small percentage of your investment portfolio and buying Iraqi dinars may end up with a result no more successful then taking the money and throwing it over your left shoulder and making a wish for good luck. Of course, if the Iraqi dinar speculation works out for you, the return on your investment might be astronomically positive. Some think its a crap shoot, or the spin of the roulette wheel and you bet on red. So, don’t bet the farm on this investment.
Iraqi Dinar News
Everyday, there is a lot of news coming out of Iraq. The number of news sites has increased online over the last few years about the day to day Iraqi news. News topics are getting back to normal. You can find news articles about a wide variety of topics, such as: finance, sports, agriculture, politics, lifestyles, religion, industry & trade, oil & gas, business & economy, education, communication, police blotters, arts & culture, entertainment, etc.
Recent news suggests that the revaluation of the Iraqi dinar continues to stay on hold because Iraq is still under Chapter 7 resolution, and needs to become a member of the World Trade Organization before the IMF will remove their currency from the artificial program rate of 1170 dinars to the dollar.
The recent news also suggests that Iraq has been making positive efforts to resolve these issues and eventually may overcome these obstacles.
Iraqi Dinar Scam
And, of course, there are always a few out there that go way out of their way to inform you that this is nothing more than a scam. So, is the dinar worthless paper? Is the Iraqi dinar worthless? Maybe it is and maybe it isn’t. Just like in any other long shot investment, time will tell. Don’t let the naysayers, or the snake salesman sway your decision about this investment. In the end, it’s your decision, it’s your money, and it’s your profit or loss. So choose wisely!
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