Is the Iraqi dinar investment a wise one?
This has been a topic of much debate in the business world. 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. Buying dinar, such people say, is an investment every American should make.
Others, however, peg the supposed dinars to dollars miracle as a simple get rich scheme. The only suggestion I can offer 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 people to believe that buying dinar is a very lucrative decision.
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 buying dinar should definitely stay well informed on the happening of Iraq.
Looking at the history of the dinar, one may conclude that buying dinar 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 exchange rate will go as Iraq rebuilds its infrastructure is anyones guess.
At the very least, buying 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. Buying dinar could be profitable someday if one were to acquire these and sell them to a museum.
As far as a significant return rate on buying dinar 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. Get more on this here: www.gidassociates.com