Is buying 1 million Iraqi dinar a wise move

swiftysw

I am 'Thinking about' Buying some Iraqi Dinar.

What are peoples thoughts..

This is the website I have seen..

https://www.dinaruk.com

1,000,000 Dinar = £650

Thanks
Simon W

ColdIron

Are you going to be visiting Iraq?

Have a look at the History at the bottom of this link
http://www.xe.com/currency/iqd-iraqi-dinar#additionalinfo

swiftysw

No.. Wouldn't Visit...

le_loup

Excellent idea.
If I were you I'd do more than 1 million.
Fortunately, I'm not you.

Voyager2002

Sure thing... but why not get a million Dong (Vietnam) to go with them?

That way, you are guaranteed to come out a winner... it will take you so long to count them all that you will not have time to spend money the way you do usually!

vectistim

What are you hoping to achieve?

Fruit_and_Nut_Case

swiftysw wrote: »

1,000,000 Dinar = £650

xe.com reckons that you should get 1,242,430.37 dinars for your £650 so I think you may be being short-changed.

CKhalvashi

What you want is a currency that history shows has appreciated in relation to the currency you use most.

Unless you're investing in it (and the value of total investments outstrips inflation) then there's little point. Only 2 currencies I know of have done this; the first is a country with blockades, and the second is a country I have invested in.

CK

block10

Doesn't seem that the Dinar is widely accepted e.g. by US banks. I would stay clear.

http://www.forbes.com/sites/johnwasik/2013/09/06/inside-the-dubious-dinar-revaluation-ruse/

sabretoothtigger

IVe seen worse currencies, like Rupee. Usually its best to keep money for countries you do business in



Iraq is potentially the richest country in the world as they have oil enough to pay everyone in the country a salary but first two things; stop slaughtering each other and then fix 1950's oil wells.

I'd have thought Australia is more attractive for gaining interest and you can always go surfing and use money

Jonbvn

Voyager2002 wrote: »

Sure thing... but why not get a million Dong (Vietnam) to go with them?

That way, you are guaranteed to come out a winner... it will take you so long to count them all that you will not have time to spend money the way you do usually!

You do realise you can get 500k VND notes? So shouldn't take you too long.;)

Having lived in VN previously, you have to talk in billions to be taken seriously!