Consider Buying Iraqi Dinars

Written by Channel 12 Richmond on April 29, 2013. Posted in Dinar, Iraqi dinar to us dollar, The iraqi dinar

Iraqi dinar investment

Are you interested in international currencies? If so, you might consider buying the Iraqi currancy, known as the Iraqi dinar. As Iraq has few exports other than oil, which is sold in dollars, there is little demand for Dinars and they remain in “exotic” status. Iraqi dinars actually have a long and interesting history. The Iraq dinar replaced the Indian rupee, which had been the official currency since the British occupation of the country in World War I. However, currency printed before the Gulf War was often called the Swiss dinar, its name derived from the Swiss printing technology. Following the 1991 Gulf War, Iraq’s currency was printed both locally and in China, using poor grade wood pulp paper (rather than cotton or linen) and inferior quality lithography (some notes were reputedly printed on presses designed for printing newspapers). Though, in 2003, new banknotes were issued consisting of six denominations: 50, 250, 1,000, 5,000, 10,000, and 25,000 dinar.

However, if you are interested in the Iraqi currancy and are consider buying Iraqi dinar there are several things to keep in mind. Purchasing Iraqi currancy and buying Iraqi dinars is a kind of investment; the value of the iraqi dinar may go up or down. Accordingly, when you decide to sell Iraqi dinars they may be worth more or less than you originally paid for them. Also keep in mine that until markets develop for the resale of Iraqi Dinars, it may be difficult to liquidate Iraqi Dinars or exchange them for US Dollars.