Daily Archives: September 1, 2018

The Future of the Iraqi Dinar

Many Iraqi dinar speculators have invested in the dinar to take advantage of its historically low price. Currently, the exchange rate according to the Central Bank of Iraq is 1196.50 Iraqi dinars to $1.Dinar speculators are looking forward to Iraq stabilizing as a country and awaiting the Iraqi dinar to be on the open marketplace.

Currently, Iraqi dinars can only be bought from private traders like Dinar Profits since industrial banks have ceased carrying the dinar. Since the dinar is not recorded on a foreign market, banks do not have an urgency to take the dinar.If you are planning to buy or sell dinar then you can simply visit https://www.dinarinc.com/ or similar websites.

Dinar investors are waiting for the dinar to be publicly traded so that market forces will determine the value of the dinar. No one knows precisely when this will happen, however, there are some key events that one may look as indicators.

First of all, a proper, secure government needs to be set up. Part of the reason why commercial banks have ceased transactions with the entire dinar (dinars were last available at commercial banks around 2004-2005) is due to Iraq's instability as a nation.

After the collapse of Saddam Hussein in 2003, Iraq was strife with war, violence and insurgency. The war in Iraq has grown to a stage where U.S. troops are pulling out to non-combat amounts. However, even after the elections in March 2003, there is no government in some place. Without a formal government set up, the banks see the Iraqi dinar too shaky.