Is it going to pay off to convert dinars to US dollars?
This has been a topic of much debate in the world of finances. Many people claim that the coming revaluation rate of the Iraqi currency since American occupation in began in 2001 will be high enough to make investors into millionaires overnight.
Others, however, peg the supposed dinars to dollars miracle as a simple get rich scheme constructed by thirsty capitalists. The only suggestion I can offer is to do your research, and stay in tune with news pertaining to Iraq current events. That is the only way to know if the decision to convert dinars to US dollars will ever become worth the initial US dollars the investment requires.
Iraq is known as “the cradle of civilization,” because it is one of the most ancient regions in the world to make advancements in the arts, mathematics, and science. The longevity of Iraqi culture may cause the Iraq currency to dollars investment to appear rather appealing. Some people cite this fact during dinar speculation.
It is important to bear in mind, though, just because ancient strides toward civilization were made there, that does not mean Iraq has a stable economy. History does not equate to economic prosperity. This country is also especially fragile at the moment, having just exchanged hands of power. One looking to convert dinars to US dollars should definitely stay well informed on the rapidly evolving happenings of Iraq.
Looking at the history of the dinar, one may conclude that the decision to convert dinars to US dollars could wind up being substantially profitable. Until 1959, the dinar was worth the same amount as the British pound. In 1991, there were 50 and 100 dinars put into circulation, followed by 250s in 1995.
Up until 2002, the highest denomination in print was the 250 dinar note. In light of American and European occupation of Iraq, a 25,000 dinar piece had to be printed. Where the exchange rate will go as Iraq rebuilds its infrastructure is anyones guess, but will directly affect whether you wish to convert dinars to US dollars.
At the very least, the dinar will always have historical value. Notes that were issued between 1990 and October of 2003, as well as the 25 dinar piece, show a romanticized engraving of former Iraqi president, Saddam Hussein. There could be a decent way to convert dinars to US dollars someday, if one were to acquire these and sell them to a museum.
As far as a significant dinars to dollars investment is concerned? Personally, I would give it more time, to see what kind of shape Iraq finds itself in. Time, however, may be limited, because it will cease to be a decent investment if, upon revaluation, the decision to convert dinars to US dollars ends up being an extremely lucrative one. Perhaps buying just a few, making it a relatively low initial investment, would be the most intelligent way to convert dinars to US dollars. Continue reading here.