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Investing in Iraqi Dinar
MoneyMachine_2
Posts: 121 Forumite
Any ideas as to the feasibility of putting say 500 pounds into Iraqi Dinar as a high risk investment??
The currency is extremely low at the moment and is touted as having the potential to rise by a hundredfold plus on various websites.
I haven't checked these figures myself and wont be 'investing' my own money but a friend of mine seem very keen on the idea.
Is it a waste of time??? Or is it a reasonably good gamble? What type of companies would you do this through?
Grateful for any ideas good or bad....
The currency is extremely low at the moment and is touted as having the potential to rise by a hundredfold plus on various websites.
I haven't checked these figures myself and wont be 'investing' my own money but a friend of mine seem very keen on the idea.
Is it a waste of time??? Or is it a reasonably good gamble? What type of companies would you do this through?
Grateful for any ideas good or bad....
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Comments
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You can play the horses, too....I have five stars! This doesn't mean that I know anything about any of the things I post. I could be a raving lunatic, or a brilliant genius, or just some guy on the internet. In fact, I could be all three at the same time.
If anything I say makes sense, then do it. If not, don't. Don't blame me or my stars if you do something stupid because I suggested it. I'm responsible for my own stupidity only. You are responsible for yours.
Why, I don't even have five stars anymore! Aren't you glad you aren't responsible for my stupidity?0 -
Tricky one - pn the one hand you have massive oil wealth, and on the other you have massive political instability.
Might be worth a punt if you can afford to lose £500, but watch for the risks of revolution and renationalisation, for example. As you say, high risk.0 -
The major risk is surely that of massive inflation in Iraq over the coming years that will quicky erode the value of the local currency against sterling of US dollars, wiping out the value of the "investment".0
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yeh ...nice site !!
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Well, yes. This IS a gamble - a risk.
I have personally invested and purchased 750,000 Dinar. In total they cost me around £200. It was money I had spare so I thought what the heck!
Who knows what the future holds for Iraq and its currency?
I'd be happy with getting double or triple back!
Any more will be an absolute bonus!0 -
Read this article if any of you are thinking of investing in the Iraqi Dinar:
http://www.xe.com/iqd.htm0 -
mrtrifle wrote:Well, yes. This IS a gamble - a risk.
I have personally invested and purchased 750,000 Dinar. In total they cost me around £200. It was money I had spare so I thought what the heck!
Who knows what the future holds for Iraq and its currency?
I'd be happy with getting double or triple back!
Any more will be an absolute bonus!
More probably you'l lose 90%
People go on about oil, oil, oil... well if its oil then invest in oil, either futures or oil companies... why the iraqi currency ? :rolleyes:0
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