Best Place To Buy Iraqi Dinar

In response to the growing concerns about fraud and scams related to investment in the Iraqi dinar, State agencies such as Washington State,[19] Utah,[20] Oklahoma,[21] Alabama[22] and others issued statements and releases warning potential investors. Further alerts were issued by news agencies.[23] These alerts usually warn potential investors that there is no place outside Iraq to exchange the dinar, that they are typically sold by dealers at inflated prices, and that there is little evidence to substantiate the claims of significant appreciation of their investment due to revaluation of the currency.

best place to buy iraqi dinar

Currency printed before the Gulf War was often called the Swiss dinar, a term of obscure and uncertain origins. These notes were manufactured in England by De La Rue and were of significantly higher quality than those later produced under the economic sanctions that were imposed after the first Gulf War. After a change-over period, this currency was unendorsed by the Iraqi government. However, this old currency still circulated in the Kurdish regions of Iraq until it was replaced with the new dinar after the second Gulf War. During this time the Swiss dinar retained its value, whilst the new currency consistently lost value at sometimes 30% per annum.

The Iraqi dinar is Iraq's national currency. The dinar was brought in to replace the Indian rupee in 1932 and has stayed as the country's national currency ever since. The currency is distributed out by the Central Bank of Iraq, subdivided into 1,000 and issued out physically into banknotes of 1,000, 5,000, 10,000, 25,000, 50,000, 250,000.

New Iraqi Currency Starting on October 15, 2003 a new national currency known as the 'new Iraqi dinar' will begin to replace the existing currency, the 'old dinar', and the currency used in the North of Iraq, the 'swiss dinar'. The new Iraqi dinar will create a single, unified currency that is used throughout all of Iraq and will also make money more convenient to use in people's everyday lives.

Today, one US$ is equivalent to 1,000 Iraqi dinars. This implies that if one has US$1,000 he will be able to purchase 1,000,000 Iraqi dinars. That is one thousand times one thousand Iraqi dinars. This information regarding the exchange rates is available in the website of coinmill.com. There are many places in which one can buy Iraqi dinars. Most of these places are websites. They include DinarBanker.com, USACurrencyExchange.com and Giddassociates.com (Summer 2007, p. 36). 041b061a72