Invest in Iraqi Dinars 

Why to invest in Iraqi Dinars

 

For Many years the Iraqi Dinar was one of the strongest currencies in the Middle East.  Prior to the Gulf War the Iraqi Dinar was exchanging at around $3.25, slightly shy of the strong Kuwaiti Dinar.

Due to the embargo and inflation, the Iraqi Dinar lost it's value to the extend that in 1998 every 5000 Dinar was worth one US$ (one Dinar was worth 0.02 cents).

In October 15, 2003, the New Iraqi Dinars, printed by Thomas de La Rue of England, were distributed all over Iraq and an exchange rate of 2000 Dinars to one US$ was established by the Central Bank of Iraq.  The Iraqi citizens were given 3 months to exchange the circulating banknotes with the new ones.  On Jan. 15, 2004, all paper money with the portrait of Saddam became obsolete and worthless.

Considering the fact that Iraq is the second largest oil producing country in the Middle East and has a small population, it is believed that in a few years time Iraq should be able to increase the production of oil, and regain her position in exporting this “black gold”, which will eventually improve the exchange value of the Iraqi Dinar.   Thus the Rush to invest in the Iraqi Dinar.