Offers for buy dinar expire in 7 days if they are not accepted and do not meet the reserve price. A new offer supersedes previous offers and is current for 7 days unless it is superseded or accepted or denied. A current offer that meets or exceeds the reserve price does not automatically make a sale and has to be accepted. An expired offer for buy dinar is not binding to the buyer and cannot be accepted by the seller. Like an auction, the minimum offer increases each time an offer is made. Seller reserves right to deny any offer, including buy now.
Why invest in Iraqi Dinar
Iraqi Dinar Revaluation – Projections For The Future
Economic experts are of the opinion that the economic condition of Iraq will increase once the Iraqi Dinar transforms to value of 3 Iraqi Dinar for every USD. Many financial experts believe that the Iraqi economic condition will ascend good heights by the year 2013. As per current market condition, a million Iraqi Dinar is less in value to a thousand USD’s, far from the three million USD as compared to a million Dinar, which it once was.
WHY THE IRAQI DINAR?
The Iraqi Dinar Summary
Issued by the Central bank of Iraq, Iraqi Dinar is the legal currency of Iraq.
Old Iraqi dinar
In 1931, the Iraqi Dinar came into circulation and was equivalent to the Pound Sterling. The Indian Rupee replaced the Iraqi Dinar, which was the currency of Iraq when it was still under the British’s rule. It was disassociated form the Pound Sterling after the year 1958 but it was still valued highly.
Positive Changes In Iraq
There have been changes in Iraq since the reign of Saddam Hussein, mainly political and economical. The political changes coupled with the new building of infrastructure will stabilize the tumultuous nature of the region. The newly elected government has made the monetary system in such a manner that it welcomes international investment. With such changes and many more positive changes coming up in the near future, experts are of the opinion that this will seriously increment the exchange rate of Iraqi Dinar.
More Treasury Bills on the Way
More treasury bills are going to be issued soon by the Iraqi government. The CBI in an auction gave away Treasury bills in July after many years. So far local banks have acquired some 900 billion Iraqi Dinars, which translate to 628 million USD. The CBI is planning to increase the foreign-currency reserves to increase the exchange rate of the Iraqi dinar.
Iraq Has Limitless Resources
Iraq does not only have a large resource of crude oil, but it is also very easy to drill to access the natural oil resources. The purification of crude oil into more useful products is also quite easy, as Iraqi oil offers very low impurities. Due to this reasons, the amount of production cost of is extremely minimal, which in turn causes the profit ratio to increase substantially. It is believed that this low cost of generation of oil, which is quite low, compared to the neighboring countries of Iraq, will increment the GDP of Iraq as compared to the regional countries.
Iraqi Dinar Revaluation
Many international entities, such as World Trade Organization, International Monetary Fund, and The World Bank are doing their best to raise the economic condition of Iraq. The moment the Iraqi economy strengthens, the currency of Iraq will also rise. It is believed that a Free-flowing market can be created once the Iraqi Dinar increases in its value. A better infrastructure and increased safety will increase the investments made in Iraq, both international and local, which will substantially heighten the economic strength of Iraq and which in turn will cause the Iraqi Dinar to increase in value.
HISTORY OF IRAQ THE DINAR TIMELINE
1932
1000 fils or 20 dhirams unit of currency. It came into being when it was formally introduced at the end of the British mandate in the year 1932, the Iraqi Dinar was associated with the British’s Pound, which then was equivalent to 4.86 USD 1932–1949
1949–1971
During the year 1932 and 1949, the Iraqi Dinar was equal to 4.86 USD, which after its devaluation in 1949 equaled 2.80
USD spanning the years 1949 and 1971.
1959–1967
In the year of 1959, Iraqi Dinar was disassociated form the pound sterling following its independence. It however retained
its equivalence to the pound till the British’s pound was devalued in 1967.
RAQI DINAR FREQUENTLY ASKED QUESTIONS
1. I don’t understand why the cost of 1 million Dinars in 25,000 notes is priced differently than 1 million Dinars in other denominations. Is it now or will it be more difficult to exchange certain denominations of Dinar?
The differences that arise in the price of the Iraqi currency between different denominations are due to the following reasons. Notably, it takes lesser notes for a million Iraqi Dinar if the denomination is 25,000. If we use 25,000 banknotes, then 1 million only takes 40 notes. In case of notes of 5,000 denominations, it takes 200 notes. This increment adds to transportation cost and shipping charges. Also, the more the number of notes, the longer it takes to verify each of the notes as authentic.
Another issue is whether the particular denomination is available or not. Notes of lower denomination are hard to acquire because we have to acquire unused notes which have not been in circulation. The denomination however, does not cause any problem with exchange of currency. The problem that a note of higher denomination might cause you is the amount that you can exchange at one point. With notes of lower denomination you have larger flexibility of how much you wish to exchange.
2. How fast will the value of the Dinar go up?
The international rate of exchange was last set before the commencement of Operation Iraqi Freedom, which was 0.31 USD to a dinar. After the new Iraqi dinar came into being, the rate of exchange was a single new Iraqi dinar for the old Saddam dinars and 150 new Iraqi dinars for the Swiss dinars. This exchange made sure that the people of Iraq had the same amount of dinar that they had before. The new Iraqi dinar is quoted to be about 0.001USD to a dinar. This means that the Iraqi people received the newer currency which was at the same rate as the old ones then, after exchange. It is expected that the dinar would soon reach back its previous value. The question is how long it will take until then. It might be easy for people here to buy out millions of dinar in Iraq; however, this is not true for the Iraqi people. How long would it be until you can exchange you Iraqi dinar bank to USD? If the rate of exchange returns to 0.31 USD to a dinar, you can easily exchange it all then. Most people plan to exchange some of the dinar then and holding onto the rest for further growth in value of the dinar as production oil increases in Iraq. If you intend to sell your dinar at a value of 1 USD or larger then you should expect to hold onto your currency for more than 10 years, as that is the expected time-frame it would take for the oil production in Iraq to run at full potential. This is of course assuming that oil prices and that of natural gas stay where they are, if there is increment then the Iraqi dinar would be appreciated further.
3. Where will I be able to exchange my Dinar?
Any major international bank or money exchanger would trade with you to exchange your Iraqi Dinar to United States Dollar once the international rate of exchange is finalized. Do keep in mind though that such institutions generally charge a 4% fee for the exchange.
4. What if Iraq decides to change their currency again?
It is possible, because anything is possible; however, it is not very probable. Iraq has no reasons to be unhappy with its new currency. The new Iraqi dinar has brought increased stability, as many Iraqi people who held onto dollar previously have traded them for the new currency. Iraq is now combined by a single mode of currency. The Iraqi people are proud of their new currency and it was printed it such a manner that it avoided any political or religious images and reflected the history of Iraq. The new currency has been extremely well received and smaller denominations have been given for print as the value of dinar increases.
Breaking News : Why Invest in Iraqi
Trump Big Buy Into Dinar
James A Smith Senior Financial Officer at JAS Financial United States real estate mogul Donald J. Trump has been diversifying and moving East with his properties and it now appears he is in the Far East buying Dinars, $30 Million U. S. Dollars. “It’s time for all of us to diversify our assets and take back the American dream” Donald J. Trump.
Everywhere I go and everyone I see is saying, “have you got in on this Iraqi Dinar deal?” It boggles my mind how much Dinar there is floating around the place. Bubba has to be correct in that for our 5,000,000 Dinar we will likely get US$5,000. How on earth can any Country buy back it’s currency at some of the suggested rates that have been floating around over the past few weeks? Boy ‘o boy do I wish that I was wrong, but as Bubba says “it is sadly over” (: