Currently, for 1 USD you can get about 1475 Iraqi Dinars, so for about $675, you can get 1,000,000 Iraqi Dinars. I remember the Kuwait money was horrible when we went in there, but I don't remember if it was anything close to what the Iraqi is now, anyone know?, and now it's about 3.5 kuwaiti for every 1 USD. Would it be worth it/ wise to buy $675 USD and see if the value goes it up at all? It is a little tempting to think about, and how do I get the Dinar, I don't really want to get it off of Ebay, and anyways, all those guys are in Jordan. Thanks............Paul :rolling:
Paul,I think that you'd be better off buying Jordanian Dinars,as they're backed by both gold & oil.King Abdullah II is a very loyal ally of both the U.S. & the U.K. Aidan.
Yes, but I am talking about gamble wise here. The JOD is already worth more than the USD. Do you think it's worth it
Yes,I think it would be worth buying.Who knows,it may be a very stable currency.The same cannot be said for currencies such as the Euro,the New Zealand Dollar,or the Yen. Aidan.
A year ago, it took 3.5 USDs to buy one KD. Before Saddam forced his way into the presidency in Baghdad, the Iraqi Dinar was equal to the Kuwaiti Dinar. The Iraqi dinar, as you stated, is worth about 1475 to 1. There are a lot of counterfeit Iraqi dinars in Iraq right now. A real Iraqi dinar has the watermark. When I lived in Iraq, I had my language assistant pull currency from the market area. I only spent 300.00 US, but I knew of people that were spending up to 1,000/M buying real Iraqi dinar. My dinar came out of Kirkuk. Some people speculate that the Iraqi dinar may again some day turn around and be worth something. I don't think so. I think someday Iraq will again change it's currency, there-by causing the present money to be worthless. Just my two cents worth. 909
I am going to agree with 909. The Iraqi people are not going to leave Saddam's picture on their currency. That is my opinion.
In October of 2003 the CPA in Iraq issued new currency that does not have Saddams face on it & the citizens of Iraq were given a grace period to turn in all the old Swiss dinars for The New IQD. The current value of the New Iraq dinar has hung around an 1470 IQD to 1$ USD . Currently there is no way to exchange them . The values touted by people trying to sell the new Dinar is a self inflated amount set by Saddam himself.At no time was the old dinar valued at $3.22 to $1 USD. As it was never traded on the open market. There is alot of talk about zero lopping ( check out recent events with Polands currency for an example) and also exchanging them in country only. It is a very risky "investment" There are many variables that could make the dinar worthless in the future no matter who is on it.Or who is in control of the country. I am a moderator on a forum that deals with Iraq & the dinar in general. If you would like more info you can check out this link. http://www.dinaroutpost.com/forums/index.php You may ask why am I a mod if I dont really believe in a reval or the dinar? Well- the only way I believe I will make money on the dinar is to have it invested in Iraq's stock exchange. I do have a small bit of paper dinar but only around $100 worth US. Before you do any buying go to this site and ask questions there are alot of members there who will answer your questions honestly & hopfully will be able to help you out with your endevor. -Bud Also- DO NOT BUY ANY DINAR FROM ANYWHERE BUT AMERICAN SELLERS- The government of Iraq has shut the borders down and try to stop shipments of the IQD from getting out of the country. The black maket trade of IQD could be supporting terrorist and other groups that are detremental to the new Iraqi Gov. & our troops.
