Currency investment can be an interesting way to diversify or to begin your personal investment portfolio. Often, people create their portfolio with a mix of different types of investments with different risks, ranging from low to high risk investments. Most people only have a few high risk, potential high return investments in their portfolio, so it is worth taking the time to pick ones that are interesting to you personally. Getting involved with the international currency exchange with the Iraqi dinar is one such option.
The dinar was first introduced in 1932, when it replaced the Indian rupee in the country. At that time, the dinar was worth 11 rupees. The dinar has changed forms several times as Iraq’s governments have changed, but until 2002, the highest denomination was a 250 dinar note. In that year, the Central Bank of Iraq began to issue 10,000 dinar notes for large bank transactions, but they are also convenient for investment. In 2010, the Bank announced a plan to redenominate the currency to ease cash transactions.
The iraqi dinar exchange rate is currently very favorable with the dollar. Right now, a single dollar can buy between 1,200 and 1,400 dinar, depending on present value. If Iraq’s politics and economy stabilize, this could turn into a large value jump and a great return on your investment. Currently, the Iraqi dinar is not available on any international currency exchanges. Instead of using an international currency exchange, you will need to buy through one of the independent dinar sellers on the internet. Even though the Iraqi dinar is not available on these international currency exchanges, there is still a reasonable market of people buying the dinar in the hope that its value will increase greatly as the nation gets back on its feet after the war.
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What is the dinar’s general value trajectory? Has it been going up or down in general, or has it been all over the place with Iraq’s instability?