Jun
02

Investing in the Iraqi Dinar is Considered Good For the USA and Iraq

Author // Channel 7 Miami
Posted in // Buying iraqi dinar, Iraqi dinar investment, Iraqi dinar value

Iraqi dinars

The currency of Iraq is called the dinar. As of 1947, Iraqi banknotes were issued by the National Bank of Iraq. Post 1954, the iraqi dinar was issued by the Central Bank of Iraq. The Iraqi banknotes issued between 1990 and October of 2003, as well as the 1986 issued 25 dinars note are engraved with an idealized image of former Iraqi President Saddam Hussein. Hussein is not on recently printed Iraqi currency, which makes sense considering that he was ousted. The last U.S. troops in Iraq withdrew from the country in December of 2011, almost nine years after the Iraq war began.

At present, 1,260 Iraqi dinars are worth one American dollar, an exchange rate that was not been reached since last year. In 2012 the US dollar was valued at 1,200 dinars, leading to some degree of dinar speculation. The exchange rate of dinars to dollars fluctuates frequently, as do most currencies. However, these days the Iraqi dinar is relatively stable.

The Central Bank of Iraq issued a 10,000 Iragi dinar banknote in 2002 mostly for use in large scale or inter bank transactions. This Iragi dinarbanknote is still in use today. It is now in high demand.

There are many Iraqis currently living in the United States. The American states that have the largest number of Iraqi foreign born populations are Illinois, Michigan, and California. As more and more Iraqis come to the United States, there will be greater demand for investment in Iraqi currency. This will be good news for both Iraq and the USA, as it will help with the transition to peace time.

Comments (6)

  • August 8, 2013 at 8:41 am |

    How volatile is the dinar these days as compared to the early 1990s?

  • James Santos
    February 13, 2014 at 7:54 pm |

    What kind of return could I expect long term on an investment in dinar?

  • April 14, 2014 at 8:07 pm |

    What kind of return could I expect long term on an investment in dinar?

  • May 14, 2014 at 8:30 pm |

    What kind of return could I expect long term on an investment in dinar?

  • Peyton Jonston
    June 13, 2014 at 8:31 pm |

    What kind of return could I expect long term on an investment in dinar?

  • Caroline Morgan
    July 13, 2014 at 8:33 pm |

    What kind of return could I expect long term on an investment in dinar?

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