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08-23-2006, 08:15 PM #3
Senior Member
investing in iraqi dinar
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:
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