Keeping Up with Iraqi Dinar Exchange Rates
Iraq is often called the cradle of civilization, and due to this nickname has one of the oldest histories of currency. Currently, the government uses the Dinar as its form of currency. The notes printed before the Gulf War were often called Swiss Dinar because it used Swiss printing technology.. Since then, there have been many changes with the Iraqi currency, and the Iraqi Dinar to US dollar value is constantly changing.
Many Americans are making investments in Iraqi Dinars. However, before choosing this as a form of financial investment, make sure you have plenty of information about the currency, the state of the government, and the Iraqi dinar to us dollar exchange rate. Also, keep in mind that Iraq has very few exports other than oil, which is sold in dollars. This means there is little demand for Dinars, and they are mostly kept for their exotic status. Take this into account when determining the Iraqi dinar value.
If you choose to buy Iraqi Dinar, you will need to determine what denominations you would like them in. In 1991, 50 and 100 Dinars notes were issues, and then 250 Dinars notes in 1995, and 10,000 Dinars notes in 2002. By October 2004, a 500 Dinars note was issued.
No matter what amount of Dinar you choose to invest in, you are going to want to buy from a reputable company, and keep track of the Iraqi Dinar to US dollar exchange rate. Starting in 1947, the Dinar banknotes were issued by the National Bank of Iraq. After 1954, the bank changed to the Central Bank of Iraq. Through much of 2012, Dinars coming out the bank were valued around 1,200 Dinars per US dollar. However, keep in mind that the ratio of Iraqi Dinar to US dollar can change at any moment.
Do plenty of research on Iraqi Dinar value, and consult a financial advisor if this is an investment you think you can profit from. Be sure to keep up on Iraqi Dinars latest news and exchange rates. With the right amount of knowledge and timing, you could profit from Iraqi Dinar investment. Once you have a solid financial plan, seek out a company that works specifically in the trade of Iraqi Dinar.