Iraqi Dinar

[fastone]

Does anyone here have any of this money? Or has anyone heard anything about buying it up? I know it is from Iraq and all, but if it can make me some or lots of money over a few years, Im up for it!!!! :bigthumb Iraqi Dinar, for those that do not know, that is the currency in Iraq. :D

[DeckerEnt]

What is it worth compared to the US dollar?
Keith

[Gearhead]

1.00 Iraqi Dinar = 0.000835492 US Dollar
or
1.00 US Dollar = 1,196.90 Iraqi Dinar


I think the above conversion rate is a few days old, but I can check FOREX at work if you need more up to date info.

Beware, there are tons of scams out there regarding Iraqi Dinars !!!

[fastone]

Well I was told, buy from a bank and not a broker. I bought some today at Chase bank. You pay for it then they get in a few business days later and you have to come back in to pick it up. Everyone I have heard talk about it says, don't plan on making money quick, and don't invest unless you have some free money to let sit for a while.

And as for the value today, I paid 100.25 USD, and after the exchange fee, I now will have when they call me next week, 100,000 Dinar!

I know back before the war they were around 1.00-1.50 per USD, today it was at 0.00095250 per USD.......... :confused:

[Gearhead]

Well I was told, buy from a bank and not a broker. I bought some today at Chase bank. You pay for it then they get in a few business days later and you have to come back in to pick it up. Everyone I have heard talk about it says, don't plan on making money quick, and don't invest unless you have some free money to let sit for a while.

And as for the value today, I paid 100.25 USD, and after the exchange fee, I now will have when they call me next week, 100,000 Dinar!


Got it, just converting US dollars is much safer than some of the scams I've heard about.



I know back before the war they were around 1.00-1.50 per USD, today it was at 0.00095250 per USD.......... :confused:

That was a different Iraqi Dinar which was controlled by Hussein, it is now currently worthless.
The current Dinar in circulation was introduced in late 2003.

[05yellowgt]

I have 1,500,000 Dinar sitting in a safe place in case it ever does go up in value. When I bought it the price at Chase was $882.80 for 1,000,000 Dinar. That was Jan 07 if I remember correctly.

There are tons of rumors flying around the net as to when and if a sudden revaluation (reval) will happen. The big rumor that had been going around since I have invested was a reval would happen once the value hit 1200 dinar to the dollar. The rumor was a reval to anywhere from 120 to 1, 12 to 1, or even .12 to 1.

To get the latest prices go to http:\\cbiraq.org and look at the exchange rates.

Overall I think this is NOT a get rich quick type of deal or even get rich after a long time thing. It may never reval and I will just have some nice pretty Monopoly money. Either way, in the grand scheme of things it wasn't a lot of money to spend and only time will tell what happens.

[DeckerEnt]

I am going to stop in at my bank tomorrow and just ask some questions. Who knows.
Keith

[NXcoupe]

The dinar currency investment is a speculation investment. It is not going to reval overnight, those people may as well wait on aliens to land too. It is a slow, steady increase. I purchased mine before John got his, and it is now worth more than what it cost me back then. I can say I have made money on the investment, so that is a plus. Go to safedinar.com and they have a monthly and yearly graph of the value verses the dollar that you can see how the value has increased over the past 5 years or so. It is not a scam. You are buying currency that is worth something, and has increased in value over the past 5 years. The people who invested 5 years ago have made money off their investment. I am in it for the long haul, and not for a get rich quick scheme. The IMF has some great documents outlining the plan for increasing the value of the dinar that is well worth reading. They have certain hoops to jump through to increase it's value. Any more info PM me.