Currently, the Iraqi Dinar is trading close to 1175 to 1 USD. In the event of a revaluation, it is believed that the currency might trade at 3 Dinars to 1 USD. Economists are hopeful that the economy of Iraq will spring back to life and the currency will yield profits to investors who have invested in it.
In the past, one million Dinars were equivalent to 300,000 USD. However, you can purchase the same amount of Dinars for under 1000 USD at various exchange dealers today.
Revaluation News for 2011
There are a number of positive signs, which contribute to the growing confidence of the investors in Iraq's currency. The economy is slowly but steadily spreading its wings and it is not uncommon to read new stories about oil companies and nations signing contracts with Iraq for oil reserves. The revaluation of the currency is dependent on the Development Fund for Iraq (DFI) protection. Since the UNSC recently rejected Iraq's plea for an extension of DFI protection of a year, it is believed that the revaluation might be delayed due to this. The UNSC has instead offered Iraq 6 months of protection. Hence, the revaluation might happen after June 2011 or later.
There are a number of other factors, which might influence the revaluation dates. For instance, the parliament approval as the Article 110 of the Iraqi Constitution outlines the parliament's influence over the monetary policy might influence the revaluation as well.
Investing In The Iraqi Dinar
If you want to invest in the currency of Iraq, you will need to contact a foreign exchange dealer. Few of the dealers online exchange Dinars for gold, silver and other precious metals as well. In the event of a sudden growth spurt in the Iraqi market and an increase in the value of the Dinar, you can visit the various secure exchange locations to cash in on Iraq's success.
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