So I've been watching this currency drop, and drop, and drop. Why is everyone saying "dont' invest in it, you'll lose your money!" I've seen nothing to that effect.
2007-06-29 10:18:04 · 8 answers · asked by Indiana 1 in Business & Finance ➔ Investing
If you have Iraqi Dinars, you need to be sure that there is something made in Iraq that you want and be ready to go there in person to buy it. Don't expect to be able to convert it back to your home currency.
2007-06-29 11:13:27 · answer #1 · answered by Ted 7 · 1⤊ 0⤋
Invest away. Or throw your money in the trash can. Both similar investments. The Iraqi dinar was never a stable, tradeable currency, which is why even pre-war, contracts were always written in US Dollars, not Dinar.
Hyper-inflation is typical of the Iraqi currency - and they are doubtless headed for another round.
2007-06-29 12:15:09 · answer #2 · answered by Anonymous · 0⤊ 0⤋
rip-off if there have been any money to be made, each investment monetary company and hedge fund could have been making an investment in it. the reality that the likes of Goldman Sachs and George Soros won't pass everywhere close to dinars is all you're able to desire to appreciate that there is not any probability of starting to be a penny forex revaluation would not ever make money. by fact the poster above factors out if the forex is 2500 dinar = $one million and that they revalue so $one million = 250 New Dinar, you nevertheless have $one million. Your previous dinar are only exchanged for brand spanking new dinar.there is not any money to be made - this could be a rip-off for individuals who understand no longer something approximately forex procuring and advertising
2016-10-19 04:34:13 · answer #3 · answered by prebor 4 · 0⤊ 0⤋
Currency trading is one of the most difficult areas to make money in.... That's very true with currency's like: USD EUR JPY.
Now multiply that by 5000% harder when it comes to a country that's falling apart more and more everyday. You'd be better off going to the race track and betting on a 500:1 shot.
2007-06-29 16:10:51 · answer #4 · answered by Common Sense 7 · 0⤊ 0⤋
ironic isn't it! I wondered the same thing.
we've already seen a 15% increase since november, maybe thats not enough for people. if you got in early at 1470 just hold on, its not too late to get in but pre-november was the lowest rate. And by holding you're giving iraq an interest free loan, that's better than killing people...
2007-07-02 07:24:21 · answer #5 · answered by JGdancin 2 · 0⤊ 1⤋
you'll have to wait for some actual stability in iraq before you see it go back up. if you have an investment horizon of ten or more years, you might do ok, but if you're looking for a quick profit, keep looking. the situation in iraq, as bad as it is, is only gonna get worse before it gets better.
2007-06-29 10:23:06 · answer #6 · answered by Anonymous · 0⤊ 1⤋
Go ahead and invest. There is a fool born every day.
2007-06-29 11:10:50 · answer #7 · answered by Anonymous · 1⤊ 1⤋
not yet
but hopefully one day
2007-06-29 12:34:59 · answer #8 · answered by qpistol 5 · 0⤊ 0⤋