Investing in the Iraqi Dinar
I am not going to say one way or another in so far as an opinion of whether I think investing in the Dinar is a good idea or not, instead I am going to share with you what I have found to be pro's and con's of investing in this currency as well as some resources that I have found to be useful in investigating foreign money market investing and including Iragi Dinar specific information.
Understanding the Iraqi Dinar and the surrounding trade
This very useful website (called IraqiDinar.org) tells a lot about this currency as well as a very real potential of being misled by investment companies. They also offer information on identifying counterfeit Dinar, how premiums can strip profits and even how our own inflation rates can have a direct effect on gains and losses.
The decision to invest in any currency, including the Iraqi dinar, lies solely with the investor. However, we'd like to provide you with some pros and cons of investing in the IQD. Additionally, we'll share some resources we've found useful in investigating the foreign money market, including Iraqi dinar specific information.
Pros:
- The Iraqi dinar is at an all-time low rate. As war moves out of Iraq, the value of their currency has little place to go but up.
- Iraq's global debt is decreasing, largely due to the Paris Agreement, where most of the countries that Iraq owed money to forgave much of their debt.
- A large amount of money is being collected and provided world wide for the purpose of reconstruction Iraq, with major global companies beginning to invest in the country.
- New Iraqi dinar notes have added anti-counterfeiting security features which help secure your investment in the currency.
Cons:
- The timing of economic stabilization of Iraq remains uncertain. This causes investment in the Iraqi dinar to be a speculative, risky one.
- Global support of Iraq may not continue due to any number of factors which may or may not be apparent at this time. The world economy is in a state of flux and remains highly unpredictable.
- Investing in the Iraqi dinar is a long term investment. Those seeking a quick return on their money would do best to look elsewhere.
- The IQD is not yet traded on the open foreign currency exchange market. We have no way to accurately predict if, when and how this will transpire in the future. In the meantime, the only ways to invest in the Iraqi dinar are on ebay, certain banks and dealers, and at currency collector shows.