Iraqi Currency For An Investment

I would say that it is an absolutely horrible deal

100,000 new Dinars are currently worth $85 so you would be paying twice the exchange rate. Even if the value of Iraqi currency miraculously doubled in relation to the dollar, then you would have the problem of finding someone to actually give you the international exchange rate. Nothing but a pseudo-investment scheme IMO.

The Dinar debuted at a ~1475:1 ratio in 2006 and it is currently ~1175:1 so it has only gone up 20% in over two years so you can imagine how long you will have to hold to even potentially break even http://finance.yahoo.com/currency/c...D&amt=1&t=5y

Also, you cannot compare with Saddam Dinars- those are demonetized. The new Dinars are a completely different currency.

what everyone else said. What makes that dealer think he can convert those back to USD$ for that enormous profit?
Ha ha..yeah, good one!

Old currency versus post-Saddam issue. Who really knows the long-term exchange...I seem to recall the new Dinars were established by a post-Saddam interim govt. No doubt it has some backing by our currency...who knows how long that backing will last once they're independent? Stay far away, imo.

Dejà vu!

Was this thread resurrected somehow and re-dated?

I purchased a few thousand dinar a while back. My plan is for my grandson (2 yrs old) to inherit them and maybe they'll be worth something when he's my age.

BTW...there are numerous web dealers selling I-Dinar at at much lower cost that what your dealer is offering.

Don't know how jbuck finds all those things in the past. I can not remember what I did a few hours ago. I go out to my garage and when I get there I say to myself, SELF, why are you here? I'll jump up from this computer to go somewhere and suddenly say, HUH?
jbuck must have one of those... Opps, forgot. Some kind of memory?
Meanwhile back to money from Iraq. The way things are going over there I would shy away from any monitary investment in any country that may not even be there next year. And who knows if someone over there decides to do as Europe and make one type of money for all Arab states. So then would the present Dinar be one billion for a dollar of ours?
Now if they do, what would be on those coins. For sure an Oil Well but what else?
I'd keep away from such deals.

There are also official and unofficial rates of exchange.

Let's say officially, you get 1000 dinars for a buck. The bank will be happy to charge you this. They won't buy them back, tho.

Walk out to the sidewalk and there are a dozen locals who will cheerfully give you 4000 dinars for your buck, because they know they're worthless and next week the buck will still buy what it buys this week.