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i heard a lot of people are doing this..
there are rumors of the value going 3x, 8x, 16x, etc.
quoted from http://www.rolclub.com/iraqi-dinar-dinarinfo-com/Quote:
These country's are so far behind that they have no where to go but up.
that's what one of the guys on that forum says, i imagine the US wouldn't let iraqs economy go anywhere but up, after the billions we spent.
do you think investing in iraqi dinars, which is essentially investing in their economy, is a good investment?
Yes, and I plan on getting some as well while it's cheap.:smokin: I think it will take a hell of a long time to increase in value.
Everybody has their own feelings on this one. As far as myself.....I'm invested for 5 million Dinar at the present. The way they talk, they want to revalue the currency to at least 1:1 or from it's current state of 1470:1. This exchange rate has been artificially held back by the C.B.I. (Central Bank of Iraq) since the end of "03".
Investing now is EXTREMELY HIGH RISK!!! It could be that pot of gold or a complete flop.....one won't know until the day the announce that the currency is now on the exchange (F.X. etc...)
Besides hard currency there is also a way to deposit U.S. dollars into an Iraqi Bank which would also give interest on the Dinar (Warka Bank). I personally refuse to do this due to the fact that if Marshall Law was put into effect, it could mean a freeze or loss of the account. Also, I believe that there is no way to deposit direct....it used to have to go through a banking system in either Ahmad Jordan or Beiruit Lebanon.
Here's a web site I check frequently,(http://www.investorsiraq.com/) unfortunately there are some "so called experts" in there that don't know jack. Sift through the crap and check out posts by members dating back to "04". We are the ones that have been investors since the beginning and have a bit better grip on reality. WAY to many there now have a sisters, nieces , brothers, best friend that just happens to know the head of the C.B.I. and they say blah, blah........you know what I'm talking about. People that need attention I guess.
If you would like any questions answered, feel free to send me an e-mail.....it's in my signature.
Have a good one!:thumbsup:
If you have cash and time to spare, it could eventually be a worthy investment. Given the volatile situation there now, I wouldn't expect a return for at least 5-7 years. And at 5-7 years, your return will be minimal. Also keep in mind you'd want to monitor the events over there closely. With the resentment towards the U.S., it is not inconcievable for a new regime to wipe the slate clean of the Dinar. In that case, your investment is moot.
EDIT: Potential foriegn currency investments that might pan out soon and at a greater yield...Central African Nations. European development is strong, there is a renewed focus in the UN and charitable agencies for increased development, and slowly, the political picture is starting to take shape...not stabilizing, but starting to take a definitive shape.