Iraqi Dinar

Reaper

As long as you understand it is gambling not investing then you could do. Personally I wouldn't touch it with a 10 foot barge pole.

* You are buying into a chaotic region which is as likely to get worse as it is to get better.
* Weak economies can suffer high inflation. Holding cash would be a very poor move if inflation were to get a grip in the country.
* It may be much more difficult to sell than to buy.

dunstonh

Its not investing. Its gambling.

spurs1234

Ok so would you say investing a smallish amount say £100 for example would still be not worth the risk ?

Im trying to find out as much as i can before making up my mind.

Or is there any thing else that maybe worth investing in that someone knows of ?

regards :beer:

System

Try doing a search about this subject. Its been covered several times over the last few months. Can i also just suggest you read through the terms and conditions here (specifically 3:1). Advice on investments, shares and other risk-based products is not what this site is about. This site is not FSA-regulated.

STRAWB

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!

2006 1 million iraqi dinar cost £520
2002 1 million iraqi dinar cost £2.2 million

With the second biggest oil reserves in the world and if the country can sort itself out is this a wise investment for the future what do people think? i am considering it

nadnad

if your figures are right - which i'm going to check out then it sounds good to me.

grumbler

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STRAWB

Yes i can afford to lose the money but i just think if someone can get a grip of this country once saddam is exicuted then the potential is huge.
this could be one of the richest coutries in the world surley.

Deemy

Its not the currency u should be investing in, its some underlying asset that is likely to appreciate and thus its sterling value will increase.

Given the uncertainty over Iran's nukes, theres likely to be more instability in the region.

STRAWB

I agree but we must remember iraq has got something the world needs OIL and surley this has to be taken in to account at some stage.