Question about iraqi dinar investing?
Sean Phillips asked:
My friend asked me to buy some Iraqi currency as its value is very low suffering the impact of the war on its economy… He said that when two years later when the value appreciate, i would get back 10 times the amount i invested… Is this true? I want to know your opinions… He has showed me the notes and told me that it is genuine as he showed me some security features( passing it through uv light to show some markings) that certify the iraqi dinar is legit… He himself has invested some money and asked me to do so… He says that i would get the dinar on the spot when i pay up so theres no chance that i would be cheated… He also say that Bush has plans to rebuild iraq’s economy and with its large oil reserve, it’s economy could be stabilized and then the dinar would be available in the international banks… I seriously need some experts view as im in a dilemma.. There doesnt seem to be any way i can lose as the dinar is already in an all-time low and the only way is up…
My friend asked me to buy some Iraqi currency as its value is very low suffering the impact of the war on its economy… He said that when two years later when the value appreciate, i would get back 10 times the amount i invested… Is this true? I want to know your opinions… He has showed me the notes and told me that it is genuine as he showed me some security features( passing it through uv light to show some markings) that certify the iraqi dinar is legit… He himself has invested some money and asked me to do so… He says that i would get the dinar on the spot when i pay up so theres no chance that i would be cheated… He also say that Bush has plans to rebuild iraq’s economy and with its large oil reserve, it’s economy could be stabilized and then the dinar would be available in the international banks… I seriously need some experts view as im in a dilemma.. There doesnt seem to be any way i can lose as the dinar is already in an all-time low and the only way is up…
Tags: Dilemma, International Banks, Money
but the dinar has saddam hussein on it right? so I don’t think that the new provisional government owuld keep it? Just a thought invest in the money throught the bank but be careful some countries like kenya will not let you buy their own currency unless you are a resident
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If you have some money to spend, it’s a great deal right now. but don’t spend more than you can afford because the revalue may happen very soon or within the next couple of months or more. this will help them to actually have money to rebuild the country.
it is hard to find information on this since the media never talks about economic issues in detail because they don’t want the masses speculating or even knowing that this type of war profiteering is going on.
if you are still unsure look at the history of the dinar’s value as well as the value of the neighboring countries that also have oil.