Iraqi Dinar has caught the fancy of the investors across the world since the
death of the autocratic and tyrannical ruler. The official currency of Iraq is
issued by the Central Bank of Iraq and governed and guaranteed by the bank. It
has gone through ups and downs alternately due to policy mistakes of Iraq and
misjudgement by others. In 1959, one Iraqi Dinar brought 2.8 US Dollars in
exchange and in 2013 one US Dollar fetches 1166 Iraqi
Dinars.
British occupied Iraq had Indian Rupee as their currency till 1932. After World War-1 the new Dinar was exchanged at 11 Indian rupees and it was at par with British pound till 1959. The US Dollar was exchanged at 2.8 Dollar for 1 Dinar. Then the Iraqi Dinar rose to an exchange rate of 3.37 Dollar per Dinar before it was devalued 5% to quote at 3.21 Dollar and remained at that rate till the Gulf war in 1989. After the war was over, in 199, Iraq faced UN sanctions and the Dinar notes which were printed in Switzerland went out of circulation. Excessive printing of new notes by the government, brought down the value of Iraqi Dinars to 3000 Dinars for one Dollar. Swiss dinars were still in circulation in the Kurdish region and they did not devalue at all.
After the ouster of Saddam Hussein, Iraqi Governing Council printed Saddam Dinar notes to keep the markets and common life moving till a new currency was issued for the entire Iraq. In 2003, the Coalition Provisional Authority issued new Dinar notes and coins. These new Iraqi Dinars were exchanged at par with Saddam Dinars, however, at 150 new Dinars for 1 Swiss Dinar of Kurdish region.
Iraqi Dinars were involved in brisk trade among the speculators and currency traders. Earning from oil exports rose in 2012 and economic experts confirmed that Iraq may become the second largest exporter of oil in 2013. The speculators got scent of Iraq's parliamentary decision that the Iraqi Dinars are going to be redenominated upwards. So Iraqi Dinar RV will bring in handsome profit as its exchange rate against the dollar is expected to rise greatly. International Monetary Fund is overseeing rebuilding of Iraq after it was destroyed time and again in wars and under an autocratic rule for a long time. So the rumour about re-valued dinars is confounding. The Central Bank of Iraq on its website quotes 1166 dinars for a US Dollar. The IMF too quotes Dinar at 1200 per a Dollar, and it has remained static. Most of the transactions are still done in US Dollars.
Iraqi Dinars now have a steady exchange rate, and a downside is not visible in near and remote future. If you discount the stories of rerating circulated by the currency traders, you can still invest in Iraqi Dinars. Its oil production and export will fetch handsome amount of foreign exchange, and you can share the riches of a developing economy.
Iraqi Dinars is a stable currency. You may hope for its upward movement. For more information please visit : dinarexchange
visit here for more information about Iraqi Dinar rv
British occupied Iraq had Indian Rupee as their currency till 1932. After World War-1 the new Dinar was exchanged at 11 Indian rupees and it was at par with British pound till 1959. The US Dollar was exchanged at 2.8 Dollar for 1 Dinar. Then the Iraqi Dinar rose to an exchange rate of 3.37 Dollar per Dinar before it was devalued 5% to quote at 3.21 Dollar and remained at that rate till the Gulf war in 1989. After the war was over, in 199, Iraq faced UN sanctions and the Dinar notes which were printed in Switzerland went out of circulation. Excessive printing of new notes by the government, brought down the value of Iraqi Dinars to 3000 Dinars for one Dollar. Swiss dinars were still in circulation in the Kurdish region and they did not devalue at all.
After the ouster of Saddam Hussein, Iraqi Governing Council printed Saddam Dinar notes to keep the markets and common life moving till a new currency was issued for the entire Iraq. In 2003, the Coalition Provisional Authority issued new Dinar notes and coins. These new Iraqi Dinars were exchanged at par with Saddam Dinars, however, at 150 new Dinars for 1 Swiss Dinar of Kurdish region.
Iraqi Dinars were involved in brisk trade among the speculators and currency traders. Earning from oil exports rose in 2012 and economic experts confirmed that Iraq may become the second largest exporter of oil in 2013. The speculators got scent of Iraq's parliamentary decision that the Iraqi Dinars are going to be redenominated upwards. So Iraqi Dinar RV will bring in handsome profit as its exchange rate against the dollar is expected to rise greatly. International Monetary Fund is overseeing rebuilding of Iraq after it was destroyed time and again in wars and under an autocratic rule for a long time. So the rumour about re-valued dinars is confounding. The Central Bank of Iraq on its website quotes 1166 dinars for a US Dollar. The IMF too quotes Dinar at 1200 per a Dollar, and it has remained static. Most of the transactions are still done in US Dollars.
Iraqi Dinars now have a steady exchange rate, and a downside is not visible in near and remote future. If you discount the stories of rerating circulated by the currency traders, you can still invest in Iraqi Dinars. Its oil production and export will fetch handsome amount of foreign exchange, and you can share the riches of a developing economy.
Iraqi Dinars is a stable currency. You may hope for its upward movement. For more information please visit : dinarexchange
visit here for more information about Iraqi Dinar rv
No comments:
Post a Comment