Buying Iraqi Dinar May Be a Good Investment

One thing that some investors are doing today is looking for ways to buy dinar. U.S. citizens are can buy Iraqi currency now, according to Presidential Order 13303. Investors should know that buying Iraqi dinar is a way to have an additional investment, however buyers buy at your own risk as the Iraqi dinar can go up or down in value. Until the year 1959, the value of Iraqi dinars was on par with the British pound. Right now the Iraqi dinar to US dollar is 1,260, which is level it reached last year. Before that, it was selling at 1,193 Dinars per U.S. dollar.

Acquiring bank notes is the best way to invest in the country of Iraq. In 2003, banknotes were issued in the following denominations; 50, 250, 1,000, 5,000, 10,000 and 25,000 dinars. They also issued a 500 dinars note in 2004. Investors that want to buy dinar can buy them through companies here in the United States, but the Central Bank in Iraq issues them. The dinars, subdivided into 1,000 fils. However, fils are obsolete now, thanks to inflation.

Investors want to buy dinars as they hope that one day the country of Iraq will stabilize and then can then make a profit off the rich oil reserves in Iraq. If you want to buy dinars, you should not buy the ones with pictures of Saddam Hussein on them, as they are no longer valid currency. If you are going to buy dinars it is a good idea to know how to spot counterfeits. Valid dinar currency has to have the right watermarks, raised lettering, security thread and optical variable ink. It is very important to buy dinar from a reliable vendor. Some local banks allow customers to buy dinar through them, but not all banks provide this convenience. It is also possible to buy dinar online.
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