Is the Iraqi dinar investment a wise one?
This has been a topic of much debate in the worlds of financing and online currency exchange. Many people claim that the coming United States revaluation rate of the Iraqi currency since American occupation will be high enough to make investors into millionaires overnight.
Others, however, peg the supposed dinars to dollars miracle as a simple get rich scheme. The only suggestion I can offer when it comes to online currency exchange is to do your research, and stay in tune with news pertaining to Iraq current events. That is the only way to know if a dinar to dollars exchange rate will ever be worth the initial dollars the investment requires.
Iraq is nicknamed “the cradle of civilization,” because it is one of the most ancient regions in the world to make advancements in the arts, mathematics, and science. The longevity of Iraqi culture may cause the dinars to dollars investment to appear rather appealing.
It is important to bear in mind, though, just because ancient strides toward civilization were made there, that does not mean Iraq has a stable economy. History does not equate to economic prosperity. This country is also especially fragile at the moment, having just exchanged hands of power. One looking into the online currency exchange should definitely stay well informed on the happening of Iraq.
Looking at the history of the dinar, one may conclude that the online currency exchange rate could wind up being substantially profitable. Until 1959, the dinar was worth the same amount as the British pound. In 1991, there were 50 and 100 dinars put into circulation, followed by 250s in 1995.
Up until 2002, the highest denomination in print was the 250 dinar note. In light of American and European occupation of Iraq, a 25,000 dinar piece had to be printed. Where the dinar online currency exchange exchange rate will go as Iraq rebuilds its infrastructure is anyones guess.
If you do decide to give the current online currency exchange phenomenon a go, know what to look for and who you are likely to be dealing with. Operators of online currency exchange websites are often ex military personal, or war zone contractors. When looking into online currency exchange, also be sure to know the lingo. For example, “fils” is a singular term in Arabic. The plural term is “fulus.” Knowing these words will ensure you are not ripped off.
At the very least, the dinar will always have historical value. Notes that were issued between 1990 and October of 2003, as well as the 25 dinar piece, show a romanticized engraving of former Iraqi president, Saddam Hussein. There could be a decent dinars to dollars conversion someday if one were to acquire these and sell them to a museum.
As far as a significant online currency exchange investment is concerned? Personally, I would give it more time, to see what kind of shape Iraq finds itself in. Time, however, may be limited, because it will cease to be a decent investment if, upon revaluation, dinars to dollars ends up being extremely lucrative. Perhaps buying just a few, making it a relatively low initial investment, would be the most intelligent way to handle the issue of dinars to dollars.
I cannot honestly advise that anyone invest in the dinar as of this moment in time. Give it a year or two.