Investing in Iraqi Currency

Until 1959, the Iraqi dinar was pegged at per with the British pound. In 2013, the value is significantly lower, at roughly 1,200 dinars to one United States dollar. However, the Iraqi dinar exchange rate could change with the stability of the Iraqi nation improving, as United States troops have finally withdrawn from the country in 2011, ending almost nine years of war.

The Iraqi dinar was issued by the National Bank of Iraq from 1947 until 1954, and subsequently issued by the Central Bank of Iran. The dinar is also issued into subdivisions of 1,000 fils, but inflation has rendered the use of fils completely obsolete.

The value of dinar to us dollars is currently at a very low rate. However, there are some people who believe that the value of dinar to US dollars, though low, is favorable to investors who can make a potential profit if and when the Iraqi nation rebounds and their money becomes more valuable on a global scheme. On that note, the states in America with the highest number of Iraqi born populations are Michigan, California and Illinois. Residents in those states might be more apt to buy Iraqi dinars and reap the potential profits. Read this for more: www.gidassociates.com