Is it Worth Investing in Iraqi Dinars?

Believed to be a lucrative investment opportunity, there has been a lot of speculation about the Iraqi Dinar. While some feel the whole thing is a scam, others believe that the revaluation of the Dinar can bring about a spurt in the country's economy. The investment opportunity is seen as a way to profit from an almost devalued Iraqi Dinar that is believed to appreciate in the future. The scammers hold that one might profit millions of dollars if one buys the Iraqi Dinars at their current value and then exchanges them back for dollars later when the Dinar exchange rate has gone up.

However, though it is easy to get swayed by the lucre, there are some factors that potential buyers need to be aware of before they invest in one of the most undervalued currencies of the world.

The first and foremost problem is the lack of registration. It is illegal in the United States and in several other major economies to market an investment minus a proper securities registration. The scammers usually evade this legislation in two ways. First, it is officially legal to sell hard currency for its numerical value, perhaps as a collector's item. Secondly, some dealers register themselves with the U.S. Treasury as a Money Service Business or MSB, which gives them the show of some kind of registration. But it should be known that real MSBs do not market an investment. Hence you need to ask yourself, whether these Dinar dealers are actually legitimate.

Another issue is that Iraqi Dinars are sold on hype that is misleading. The potential value of an Iraqi Dinar is often compared with the effect on the Kuwaiti Dinar after the Gulf War. But it needs to be kept in mind that the Kuwaiti Dinar was not a free-floating currency during that period, hence its increased value was an outcome of policy making as well as an efficient management of the currency by the state.

Now, the question that arises is that will the Iraq government follow a policy of currency escalation in the future? Since an appreciating currency renders paying for a brand new government as well as paying off past debts more costly, a rise in the value of the Dinar seems improbable. An economy like that of Iraq is more prone to a currency crash.

Several Dinar dealers refer to the value of the Iraqi Dinar prior to the Kuwaiti invasion in 1990 when one Dinar was equal to a little more than $3 US Dollars, as proof of the potential for the rise in the Dinar's value. However, they conveniently evade the fact that prior to 1990, the Dinar was rendered worthless and its value was set at random by the autocrat Saddam Hussein. After the UN embargo, the Iraqi government was unable to manage its currency and the value of the Dinar collapsed to 2,000 - 3, 500 against the U.S. Dollar.

Hence, an investment in Iraqi Dinars is rather a risky proposition, one where the facts are not placed on the table, and where past trends are only displayed to hint at a possibility of a profitable investment. For more information please visit : dinarexchange

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Things to Consider Before You Buy Iraqi Dinar

The Iraqi Dinar is a hot topic of debate as people have been arguing about the advantages and disadvantages of investing in the poorly valued currency of Iraq. Investors in the Dinar believe that Iraq's vast oil reserves are a reason why the nation's economy will soon pick up, much in the lines of the Kuwaiti Dinar which rose in value to $3.39 in 2004. Before the UN embargo that followed Iraq's invasion of Kuwait in 1990, the Iraqi Dinar was worth about $3. However, after the embargo, the dinar was valued at a little below 2,000 against the US dollar in August 2002. But, as of 2011, the average exchange rate of an Iraqi Dinar slowly climbed up to be worth around 1,173 per dollar. Bullish investors believe that the Dinar will be revalued soon when the final permits are lifted in Iraq.

Now, the question arises, is buying Iraqi Dinar a gamble? With constant fluctuations in its value against the US dollar, you need to think twice before you buy Iraqi Dinar. Some financial experts also believe that selling or buying Iraqi Dinars is a scam, while other money market observers are of the opinion that buying Iraqi Dinar is considered an investment, as they feel that since Iraq is receiving huge support from the US and it is also rich in its vast oil reserves, investing in Dinar is not a bad option at all! If you are a potential investor, you can also look up CNBC's segments on YouTube about the potential of the Dinar and why it may be a good investment.

However, it is a good idea to keep in mind a few points before you decide to buy Iraqi Dinar. As per financial experts, the Iraqi Dinar has undergone a deliberate dramatic devaluation, which has been the outcome of several economic and financial sanctions against Iraq. Now, when the sanctions are revoked, there seems to be a faint ray of hope for the nation's currency. Secondly, if Iraq is able to rise above its several problems such as sectarian violence and constantly develop its oil fields, the Iraqi Dinar, which shows signs of promise, may display a reasonable to significant growth.

Some experts are of the opinion that the Iraqi Dinar could undergo a further devaluation after the economic sanctions are lifted. In a worst case scenario, the Dinar could even be replaced by a new of currency, while others are hopeful that the currency, even if somewhat devalued, could still be traded back for dollars. So, if you decide to invest in Iraqi Dinars, make sure that you invest in the new Iraqi Dinar, and not the old one which has the picture of Saddam Hussein on it.

However, latest financial news reports talk of a possible Iraqi Dinar revaluation, and that it might happen very soon. So if that happens, then people who have invested in Iraqi Dinars are likely to become multi millionaires. But the grim fact is that the possibility of the opposite happening also cannot be entirely ruled out. For more information please visit : dinarexchange

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An Insight into Iraqi Dinar RV

For the last decade almost, the Iraqi Dinar has had a large number of hopeful, though somewhat discouraged followers. However, it is not completely untrue that the Iraqi Dinar is almost worth nothing at present, and has led to the common belief that it is nothing more than a scam and its worth will never increase. There are a bunch of hopefuls who believe that the Dinar will not only give the global economy a boost and its worth will make the Iraqis millionaires.

The question now arises, will it ever be worth anything and if it does, what impact will it have on Iraq? Iraq is believed to be the leader in production of natural gas and it is rich in mineral resources. Lying in the basin of the rivers Tigris and Euphrates, Iraq is actually the bread basket of the Middle East.

However, having suffered thirty years of dictatorship and war, Iraq at present lies in a shambles and the infrastructure is in a mess, with sectarian strife still waging. The Dinar community of investors has been anticipating the Iraqi Dinar RV to take place for several years now but none of the predictions seems to come true. No one seems to know whether at the RV will happen, and if so, when.

However, there seems to be a flicker of hope now as talks of an RV are circulating. Even a year ago, no one in the Iraqi government mentioned an RV. Now, it is all over the news daily. So chances are that it may take place soon.

So why do we think that the Iraqi Dinar RV could be a boon? Obviously, it would make some people very rich. But there is more to it. It is believed that the U.S. has several trillion Dinars hence if the Dinar were to be revalued at $3, that would mean injecting almost $10 trillion into the U.S. economy! As per reports, various European countries as well as China and other countries hold Dinars too, so a revaluation of the Iraqi Dinar may have a global impact, which can perhaps never be estimated until the revaluation takes place.

However, all things said and done, pinning one's hopes on a Dinar RV is still very risky as this is the Middle East, a cradle of wars and strife, going by historical records. A shooting war in the region with players such as Iran, Israel or Syria could definitely derail the revaluation of the Iraqi Dinar. So, all one can do is hope for the best.

Besides, Iraq wants to establish an economy that is based on resources other than its reserves of oil, gold, or natural gas so they have need to have a currency which has real value. As experts have pointed out, the sooner the Dinar is revalued, the faster Iraq will be able to pick up as well as build its shattered economy. Hence, a Dinar revaluation is eagerly awaited. For more information please visit : dinarexchange

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A Guide to Using the Vietnamese Dong

The official currency of Vietnam is the Dong. The Vietnamese Dong is non-convertible and at present its value against the US dollar is approximately 21,000. The website of Vietcombank can be referred to for seeing the daily exchange rate. However, in Vietnam, the U S dollar is also widely accepted in major shops as well as restaurants. But the disadvantage of this facility is that the prices will be converted from Dong at the exchange rate chosen by the vendor, which may be a little different from the official exchange rate, and often rounded up to the nearest USD, thereby making the price of the item higher than its price in Dong.

If you are a tourist in Vietnam and you need to exchange your home currency for the Dong, make sure that your notes are crisp, clean and not damaged, as banks and currency exchanges will not accept any notes which are torn, crumpled or damaged. A good idea while travelling is to use your Visa and Master card which are more often than not accepted in most of the larger hotels and restaurants with usually a surcharge of 3% added to their use.

Remember not to exchange too much money in one go, as you will end up with a large bundle of notes. The largest denomination in Dong is currently 500,000 and since they look similar to the 20,000 notes, be very careful while taking out the notes. A handy tip is to keep the 500,000 Dong note separately to reduce any confusion or mistakes. While negotiating fares with taxi drivers or bargaining in shops, always use the Vietnamese Dong to avoid arguments later about the exchange rate that you were expecting. It is prudent to always recheck the conversion rate you are offered. Also beware of scams run by street sellers, especially with regard to high denominations of the currency. You may be given a lesser value for your currency exchanges. It is also better to go to a trustworthy currency exchange outlet.

There are several international banks in Hanoi and Ho Chi Minh City with 24hour ATM facilities. Most of these ATMs enable you to withdraw cash using the Visa, MasterCard, Maestro and other networks. But keep in mind that as per Vietnamese law, ATMs in Vietnam only dispense cash in Dong. At present, you can withdraw amounts till 2,000,000 Dong with a 20,000 Dong additional charge if it is not your own bank. Before travelling to Vietnam, you must also inform your bank that you intend to use your card to withdraw cash from ATMs there. The machines in Vietnam employ the magnetic strip technology instead of the more secure chip, hence it is better to be safe than sorry.

The Vietnamese Dong is not accepted outside Vietnam, so keep in mind that there are no currency exchange counters at Hanoi's international airport, once you clear immigration. However, in Saigon airport, you can change your leftover Dong currency before immigration at two bank booths that offer the official rate along with a 2% fee. For more information please visit : dinarexchange

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