View Full Version : Investing in the Iraqi Dinar?
08-12-2004, 06:11 PM
Anybody know anything about this and what the chances of thier money going up are? I've been hearing a lot of good things and I am seriously considering picking up about 1,000,000 Dinar. Would cost me about $1200 but at the current rate I could make several times that amount. Risky investment, but potential to BOOM!
Any help would be great... Thanks!
08-12-2004, 06:14 PM
You go first. rofl
08-12-2004, 06:15 PM
08-12-2004, 06:24 PM
I think the Iraq situation is balanced somewhere between chaos and stability. If it goes the way of stability - the insurgency is crushed, the elections are successful, etc. and oil starts pumping - the value of the currency will probably climb. If it goes the other way, you'll be making a long term investment - let's put it that way.
08-12-2004, 08:55 PM
I'm fine with it being long term. I look at it this way. Pre-war the Dinar was worth up to $3.20 US per 1 Iraqi Dinar. Right now the rate is about 1400 per $1.00 US. I can pick up about 1 million Dinar for under $1000. Should the Dinar go up to $.01 US that is $10,000 I've made on a $1000 investment. Should it go up to .10 that is $100,000 I've made. Should it go up to pre-war levels that is a $3.2 million dollar gain on a $1000 investment. Certainly high risk and unstable... I'm just trying to find out if there are people here that have done a lot of research on this type of investment. Very similar to the Kuwait situation during the first gulf war. What once was .10 is now 3.60 in Kuwait!!!