Thread: IRAQI Dinar
10-29-2005, 11:32 PM #1
hey just wondering if anyone has invested in those IRAQI Dinars everyone is talking about? any opinions on the issue? do you think it's value is ever going to go up or just a waste of money?
10-30-2005, 01:38 AM #2
itll go up when america leaves
10-30-2005, 01:36 AM #3Retired Vet
- Join Date
- Nov 2001
Warrior gave some advice on investing awhile back, you might want to PM him or do a search.
10-31-2005, 09:13 AM #4
I ain't gonna be wishin' I did...Originally Posted by Corporal_USMC
I bought in a few million Dinar simply because... it can't go down any further. The country is torn apart and at war. But underneath all the mess is a nation that has a lot of possibility in becoming a successful democracy in the region. And they are the number 2 oil producer - and number one, Saudi, won't let anyone in to verify there reserves.
There is high hopes that these elections will stick and 2006 will be a big year for Iraqs new government. And if there Dinar goes up a nickel, whenever - I can get 30K USD per every million I own. The exchange is at rock bottom - while their neighbors are boasting exchanges stronger than the USD. How can you lose? I have been working in the Midde East for a few years now and can tell you there are many out here buying in - from 1 million to 10 million.
I say, putting a thousand bucks or so away in Dinar in a safe place has to pay off... eventually... how can it get worse than it is? The exchange right now is horrible cause of the war, and the biggest thing: insurgency...
Also, you can talk to an investment firm about other ways to invest in Iraq's economy other than buying raw currency...
10-31-2005, 01:14 PM #5
I agree with Warrior. We've both been there and know the economy. I have an enitre closet full of it and that's no exaggeration. It is so cheap right now and some companies will actually send the currency directly to your house via FedEx. I say buy as much as you can afford to sit on.
10-31-2005, 08:49 PM #6Member
- Join Date
- Apr 2005
bought 2,700,000 dinars when my dad was in iraq at IRD 1,400/$1
the rate is still just as bad but in 10 years i see the exchange rate being more like 300/1
and 20 years at 20/1.
i'll check the forward rates on it,.
10-31-2005, 09:05 PM #7
But that is if Iraq maintains a stable government, and the government is not overthrown.
But what gets me is that if so many thousands of people buy so much Iraqi currency and keep it, it will lower the rates of Iraqi currency by a lot, because they will flood the market. I am sure its not just individuals that are buying Iraqi dinar, but also businesses.
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