I am going to buy 100,000 IQD for approx 30 GPB and sell it when Iraq's economy regains. Why shouldn't I do this?
2007-02-16 08:51:52 · 6 answers · asked by Anonymous in Business & Finance ➔ Investing
At xe.com, your 100k dinars amounted to just shy of 40 pounds. And 40 pounds is about $78 US. Now I know that some folks simply don't have a lot of money and maybe that is a lot of money to you, but I make more than that in one day where I work--and there are lots of people here who make far more than me.
Perhaps a suggestion, if I may. You might want to buy euros, they frequently hold their value better, especially in your part of the world. Then, assuming things continue to progress as they are, and you survive, those euros will be worth a lot more dinars when you want to bring that value home.
2007-02-16 09:48:45 · answer #1 · answered by Rabbit 7 · 0⤊ 0⤋
There's no guarantee that IQD will be a liquid economy. People might not want to buy them from you then. Also if you are buying from a bank or financial institution (i.e. not a friend) the rate you sell them at will be different than the one you buy them at. You may lose a lot in exchange fees.
You might be better off sticking your 30 GPB in a high interest account!
2007-02-17 10:00:08 · answer #2 · answered by nikki 3 · 0⤊ 0⤋
Going by the situation in Iraq, it's more likely to blow-up in your face.
2007-02-16 23:02:22 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If the U.S. pulls out of Iraq, the economy will crash, and not recover in our lifetimes.
2007-02-16 16:56:39 · answer #4 · answered by Tim P 2 · 0⤊ 0⤋
Jolly good
2007-02-16 16:57:40 · answer #5 · answered by Anonymous · 0⤊ 0⤋
you need to visit here http://www.iraqidinar.org/
2007-02-16 16:59:07 · answer #6 · answered by naplusultra 4 · 0⤊ 1⤋