iraq dinar currency investment

thewinkshow

hi there,id like to ask martin if he would invest in the iraq dinar?has anyone here done this?im not going to bore you with the reasons why people are doing it as many will know already.

anybody got any advice on this as im thinking of investing

jonesMUFCforever

Do you know anything about trading in currencies?
From your posting I suggest you don't or you would be not asking.

Have you researched whether you can buy the currency in UK or not - have you seen anywhere?

You could make an absolute fortune in dinars but when it comes to converting it back to a solid currency you may find the exchange rate has gone against you.

Better to put a bet on the gee gees in my opinion your chances of making money are about the same.

thewinkshow

no i dont have experience investing below is one of many articles regarding why its good to invest.yes there are plenty of english places to buy


About the New Iraqi Dinar

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The United States funded this new currency (produced in the UK), artistically crafted by the Hampshire-based company De La Rue, the world’s premier currency printers.

Unveiled in October 2003 during a press conference in the capital city of Baghdad, the New Iraqi Dinar (IQD) was introduced as the official currency of Iraq.

It was introduced replace the old Iraqi Dinar and Swiss Dinar (for northern Iraq) which bared the face of Saddam Hussein (for obvious reasons!)
Below is a picture of a 25,000 Dinar Bill



A historic university, erected in the thirteenth century, is etched into the one thousand Dinar bills. A serene waterfall graces the front of the periwinkle five thousand Dinar notes. And a humble, hardworking farmer holds up a sheaf of wheat on the most substantial bill of all the twenty five thousand Dinar note.



Why should I Invest in Iraqi Dinar?

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The value of the Dinar is at an all time low! Theres never been a better time to buy!

In January 2002, the Iraqi Dinar had an exchange rate of 0.45 compared to the pound - In other words, you could buy One Dinar for £2.21!

This means that 1 Million Iraqi Dinars would cost you £2,210,000!




Since the war in Iraq the value of its currency has plummeted. It currently stands at an amazing 0.0003711468 compared to the pound. In other words that same £2.21 is now enough to buy around 5953 Dinars!




You can check for yourself how the value of the Iraqi currency has changed over the past 5 years by going to http://www.xe.com/ict/

As the Iraqi currency has never been traded on the forein exchange, nobody knows if the rates quoted above would stand. However the prices above are the official exchange rates quotes and used when pricing oil in USD.

What Makes you think the Value of the Currency Will Rise?

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The value of the Iraqi Dinar is already at an all time low, so its unlikely to any lower.

A good stable economy leads to a stable currency. Lets look at some factors which are going to help boost Iraqs economy

Iraq has the second largest Oil reserve in the world! Under Saddams regime only around 10% of the country was pumping oil - yet around 90% of the entire countries revenue came from oil. Imagine whats going to happen to Iraqs economy when it starts exporting oil again...


An estimated 33 billion US dollars have already been collected for the process of reconstruction, and Companies like Coca-Cola, Chevron Texaco, Alabama Blount4 Inc. are already investing.


Look at the value of its neighbouring counties currencies:

1 Kuwaiti Dinar (KWD) = £1.7743 GBP
1 Bahraini Dinar (BHD) = £1.3960 GBP
1 Omani Rial (OMR) = £1.3635 GBP
1 Iraqi Dinar (IQD) = £0.0003 GBP
Source xe.com


Surely Iraq is going to move in line with its neighbouring countries


When Saddam Hussein Invaded Kuwait and torched their oil fields, their Kuwaiti Dinar value plummeted to less then £0.0025p (1/4th of ONE pence), It is now £1.789 for each Dinar. Think about this:

If you were to invest £500.00 in the Kuwaiti Dinar then, it would now be worth £357,800!


You may find the following links useful:
http://www.state.gov/e/eb/rls/othr/25881.htm
http://www.cbiraq.org


Why Cant I just Buy the Dinar from a Currency Exchange and Get Better Rates?

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You can - if you dont mind taking a trip to Iraq!

The New Iraqi Dinar is not yet available on any foreign exchange market - which means you can not buy it (or sell it) as you would any other currency.

It is only available to buy in Iraqi banks and selected surrounding countries. We have purchased these Dinars legally through a source in Kuwait.

It is perfectly legally to own, buy sell Iraqi currency outside Iraq.


How Can I Ensure the Notes are Genuine?

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The New Iraqi Dinar has been printed in the United Kingdom and incorporates extremely sophisticated security features - making the Dinar one of the most difficult currencies to forge. The security features are detailed below



The BIG Question...

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...If you think these notes are going to be worth so much, why are you selling them!?

This is a question that we get asked almost every day, so heres the answer.

As we are buying the Dinar in such huge quantities directly from Kuwait (over 100 million supplied so far), We am able to obtain them at a very good price. This enables us to sell them at a profit whilst still remaining extremely competitive. Currently in the UK we cannot be beaten on price!

There is practically no limit as to how much we can buy, so its not doing our personal investment any harm in selling them. Whilst we have our own personal investment in Dinars, there is only a limit as to how much we want to invest in Dinar. Like we always tell our potential customers - dont invest more than you can afford to lose - which is the advise we have followed. Here are the 3 options we have considered: -

If the value of the Dinar doesnt rise, we lose nothing.
If it decreases, we lose a bearable amount which wont make us bankrupt
If it increases we make a BIG profit!

competitionscafe

Maybe have a punt on the Zimbabwe dollar too

thewinkshow

possibly why not people invest in the yen and other currencys daily,but the prospects are no where near as good as iraq,mainly because of the recent war.

ManAtHome

thewinkshow wrote: »

If the value of the Dinar doesnt rise, we lose nothing.
If it decreases, we lose a bearable amount which wont make us bankrupt
If it increases we make a BIG profit!

If we flog them all on at a healthy mark-up we make an even BIGGER profit...

By the way, the Kuwaiti Dinar hardly moved during Saddam's invasion, and is still worth roughly the same today (never let the facts get in the way of a good scam). You can check historical rates at http://www.oanda.com/convert/fxhistory

Voyager2002

Anyone want to buy some currency from Nazi Germany? Its purchasing power is currently at an all-time low (zero) so it can only increase in value!

And I still have some roubles from the Soviet Union, but you'd better hurry if you want to invest in them.

Jennifer_Jane

It might be worth checking that there are no foreign exchange controls, so that the dinars can be converted back to GB Pounds once you've made your fortune. High Risk! High Return! Perhaps... high risk - no return.

dunstonh

I have some monopoly money somewhere if you fancy a punt on that.

What you suggest isnt investing. It is pure speculation. A thread like this comes up every now and then and you get the same responses each time. If you have money to burn, then you may as well burn it.

Browntoa

you can invest in the browntoa dollar

it's worthless now but there's always a chance it will be worth 100 times as much in 5 years

Ian_W

Browntoa wrote: »

you can invest in the browntoa dollar

it's worthless now but there's always a chance it will be worth 100 times as much in 5 years

And if anyone wants a bet on the browntoa dollar I'll give 20/1 on - min stake £1000 - that he's right.
[:question: THINKS: Let me just check - 100 x 0 = 0 - Yep it will be a worth hundred times it's present value].
Anyone want to take a punt?