The 2 guides written about the Iraqi Dinar that say the investment is a bad idea are a little out of date. The one with the most views is actuallyborrowed fromanother siteand was writtenover 3years ago. Alot has changed since then!!!
Both state that the Dinar cannot be exchanged at banks. This simply is not true!! You get in touch with Barclays, RBS, Natwest or Halifax and ask to buy Iraqi Dinar. I've bought from Barclays and they will buy it back. Not sure about USA banks as I don't live there,but I know Chase deal with Dinar.
One of the old guides says that the Dinar is valued at 1460IQD = 1USD. Nope!!! It currently trades at 1216IQD = 1USD. So if you'd bought at the time you would've made money. Not alot, but still profit. Check the CBI (central bank of Iraq)website for up to date and accurate exchange rates.
From what I can gather,the sanctions on Iraqhave pretty much all been lifted and I believe the last (and possibly most important)of those is to be removed VERY soon. 31 Dec 2007. The war debt is a debt for the USA, not Iraq. The pre war debt has largely been written off with help from the IMF. One guide asks why a country would invest in a country that failed to pay back old debts, if you do some quick research, you'll find thatIraq still owes Kuwait money, yet Kuwait are still offering help to Iraq.
HSBCthought it a good idea tobuy 70% of Dar Es Salam bank in Iraq, and that was a year or 2 ago. Just because what you see on the TV is bad, it doesn't mean nothing good is going on out there. Every investment is risky. Even buying property here in the UK! What if you buy today and next month prices crash! Probably won't happen, but would you bet your life on it?
At the end of the day, the Iraqi Dinar is a risky investment, however no one can say for sure what will happen. If you're reading this you're obviously considering the IQD as an investment. My advise is to ignore XE.com as their talk on the Dinar isvery much out dated. Search the net for newinfo and up to datefacts and make your own mind up rather than doing as someone else says. I have no idea which way this will go, but I am in it to win it. I follow the rule, don't risk more than you can afford to lose.
I have nothing to gain from this guide. I do not sell Dinar and the Dinar I bought I got from Barclays bank. I just want you todo your own research rather than trusting any ofthese guides.
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