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Thread: IRAQI Dinar

  1. #1
    Corporal_USMC's Avatar
    Corporal_USMC is offline New Member
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    Oct 2005
    I'm in IRAQ right now..

    IRAQI Dinar

    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?

  2. #2
    tiger909's Avatar
    tiger909 is offline Senior Member
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    May 2005
    itll go up when america leaves

  3. #3
    BOUNCER is offline Retired Vet
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    Nov 2001
    Warrior gave some advice on investing awhile back, you might want to PM him or do a search.

  4. #4
    Warrior's Avatar
    Warrior is offline AR-Hall of Famer
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    Oct 2002

    I ain't gonna be wishin' I did...

    Quote Originally Posted by Corporal_USMC
    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?
    Things come up in life that might be a good investment - and might not. I'd hate to pass up on a good opportunity and be one of the many saying, "I was going to buy into that..." I have shook my head about a lot of stocks I missed out on. Sh!t, look how big Google's stock has grown...

    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...

  5. #5
    Doc M's Avatar
    Doc M is offline AR-Hall of Famer
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    Jan 2003
    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.

    Doc M

  6. #6
    Unoid is offline Member
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    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,.

  7. #7
    CAUSASIAN's Avatar
    CAUSASIAN is offline Banned
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    May 2004
    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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