Looking around the net, there is a lot of hype about the Dinar. I am very sceptical about parting with my hard earned cash for an opportunity that looks to good to be true. Is there anyone out there who has invested in this and can you convince me of a good reason for doing so. Thanx
2006-12-05 06:10:06 · 9 answers · asked by naplusultra 4 in Business & Finance ➔ Investing
the iraqi dinar is not on the money exchange and does not have a pegged value, nor is it available to outsiders and it doesn't have an official exchange rate.
in country 1000 dinar is 1.25 dollars but this is only a rule set by local banks and companies.
The future is uncertain but the dinar will not change face because a european money print firm was contracted to print the currency but you may find the higher denomination notes eg 50000 dinar may phase out over time. The goverment has agreed the current notes will remain.
you will notice the KD (kuwaiti dinar) is pegged against the pound and dollar. IE the rate doesn't change.
The Iraqi dinar will suffer the same fate but at what rate is undecided.
2006-12-05 06:26:04 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I would say yes. At the moment the dinar is very low thanks to the war. People in Iraq don't have much money and aren't spending much. Also no-one is buying any because no -one wants to go there on holiday (duh!) Therefore, assuming that the government can actually control the insurgents in the country then the economy will rise back to a normal level and so will their rate of exchange.
Be careful, but if you have some money that you want to put aside for a rainy day then go for it. Just don't get scared and pull out before it makes it's full revival.
One word of warning, it's very possible tha the new government may start a new currency to get themselves out of the economic slump they are currently experiencing. If they do this your investment ill be worth peanuts. (maybe not even that!)
2006-12-05 06:18:08 · answer #2 · answered by mad_caesar 3 · 0⤊ 3⤋
sceptical u should be.
i'm just over a fit of laughter about Dinar investing. have you ever seen a drug lord, dicator, crooked us politican invest in dinar?
e is a scam fo every s.u.c.ker in the world hopefully not for you.
2006-12-05 06:30:35 · answer #3 · answered by Anonymous · 0⤊ 1⤋
I think one would have to be an extreme optimist who has been living on Mars for the past few years to even consider it!
Buy some Icelandic government bonds instead.
2006-12-05 06:19:36 · answer #4 · answered by 13caesars 4 · 0⤊ 1⤋
Golden rule:
Don't invest in warzones unless you're a weapons manufacturer.
2006-12-05 06:32:28 · answer #5 · answered by chopchubes 4 · 1⤊ 0⤋
At that level of risk, it is no longer an investment, but speculation (i.e. your money is probably better spent at a Blackjack table).
2006-12-05 08:21:53 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Good for a long term investment, not for a short term.
2006-12-05 06:17:47 · answer #7 · answered by Albert F 5 · 0⤊ 1⤋
Golden rule: If something seems to good to be true, then it usually is.
2006-12-05 07:02:15 · answer #8 · answered by johnk1964 2 · 0⤊ 0⤋
dont invest in iraq,
2006-12-05 06:13:10 · answer #9 · answered by Anonymous · 0⤊ 1⤋