Could the Dinar Make You a Millionaire?
Is investing in Iraqi dinar a wise investment, or a poor waste of money?
This has been a topic of much debate in the currency market. 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 quick 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 investing in Iraqi dinar 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.
The country of Iraq is also especially fragile at the moment, having just exchanged hands of power. One looking into investing in Iraqi dinar should definitely stay well informed on the happenings of Iraq.
Looking at the history of the dinar, one may conclude that dinars to dollars exchange rate could wind up being substantially profitable. The dinar was issued for the first time in 1954. 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. Whether or not investing in Iraqi dinar is a good idea will depend on what happens as Iraq rebuilds its infrastructure.
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 investing in Iraqi 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, investing in Iraqi dinar 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 question of investing in Iraqi dinar.
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