2007-12-17 11:24:28 · 6 answers · asked by Lauren 2 in Business & Finance ➔ Personal Finance
You know what would just be awful? Putting a bunch of cash into dinars, and then have the Iraqis decide to introduce a new currency with no buyback.
I'm not a player on their currency. Too unstable.
2007-12-17 11:30:22 · answer #1 · answered by Stuart 7 · 2⤊ 1⤋
I considered this awhile ago... If you want to purchase Iraqi Dinar futures, unfortunately it is not located on any international currency exchange so you would actually have to purchase the physical Iraqi Dinar themselves. Furthermore, it is a very long term very speculative investment. However, being that the Dinar was roughly 3 USD before Saddam was ousted and less than a cent each now, it does appear that the Iraqi Dinar has nowhere to go but up.
If you were a client of mine, I would recommend purchasing a small holding if you really felt it was a worthwhile investment. Don't spend more than 1% of your portfolio, or up to 2,000 dollars or so, whichever is less.
Best of luck and good investing to you!
2007-12-17 19:28:38 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Not at 1000000 dinar to the dollar or whatever its at now. the exchange fees would functionally cancel out any short term profits, and I wouldnt bet on long term economic improvement in Iraq.
2007-12-17 19:28:26 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I have to agree that one person suggested the DINAR will be phased out. Absolutely. Worst investment ever. Its not worth anything, nor will it ever be worth anything. Once things stabilize over there, an entirely new currency will be introduced.
2007-12-17 19:36:33 · answer #4 · answered by Anonymous · 0⤊ 1⤋
Doutful. That has been going around for years that you can make money by buying dinars... don't do it.
2007-12-17 19:28:01 · answer #5 · answered by Kikihops 3 · 0⤊ 1⤋
depends when you got in, some have seen 14% profit since they introduced new currency. laws still need to be passed...
2007-12-21 18:47:18 · answer #6 · answered by JGdancin 2 · 0⤊ 1⤋