Large-scale government construction and development programs include:. After the Gulf War in , previously used Swiss printing technology was not available, resulting in new notes being of lesser quality. Fortunately, since Saddam's ouster in the Iraqi economy has improved dramatically. Now to the other side of the coin: Please note that Currency Liquidator no longer supports Internet Explorer versions 7 or 8.
The Iraqi Dinar is the currency of Iraq. Our currency rankings show that the most popular Iraq Dinar exchange rate is the USD to IQD rate. The currency code for Dinars is IQD, and the currency symbol is د.ع. Below, you'll find Iraqi Dinar rates and a currency converter.
Is there the possibility of a scam in such an investment scheme?
By any of these measures, Iraq is a very wealthy country. Due to inflation, today these smaller notes are rarely used in everyday transactions. Although there are many currency dealers online, basic research quickly reveals that most of them are marginal, and some of them are outright questionable. When you buy Dinar , at a minimum you should insist on receiving a full guarantee to cover authenticity of the banknotes. The very best dealers also offer more: The best dealers accept e-check because it's fast, easy and safe.
Most importantly, a leading currency dealer will be fully registered with the U. That's an exceptionally strong qualification to look for when you're ready to buy the Dinar. As with any business decision, before buying Iraqi Dinar you should perform appropriate due diligence and consult your own trusted, third-party professionals. Here are some things to consider:. The Dinar's value has fluctuated over time.
Fortunately, since Saddam's ouster in the Iraqi economy has improved dramatically. Many people are enthusiastic about the Dinar. However, since then the economy has skyrocketed thanks to the country's booming oil industry. Given the country's oil wealth, the Iraqi economy should do even better in the future.
The purchase of foreign currency carries a high level of risk and is not suitable for all people. Foreign currency purchases pose risks to buyers as a result of fluctuations in the value in the currency purchased. The value of any currency purchased may be affected by many political and economic factors applicable to its issuing country.
Revaluation results in that currency becoming expensive to the base currency by the factor of adjustment and hence changes the purchasing power of that currency. It simply drops off the zeroes keeping the purchasing power the same as before. There are confirmed news items that Iraq did plan to redenominate its currency, but not revaluate.
In the absence of any revaluation, there is going to be no change in the forex exchange rate of Iraqi dinar IQD with or without redenomination. Economists also point out that it would not be beneficial to the Iraqi economy to allow any such value appreciation by the authorities even by means of revaluation. Doing so will lead to multiple problems for Iraq:. However, this is misleading. The new release was to prevent use of stolen and looted old Kuwaiti dinars. Examples of European countries like the Netherlands, UK, etc.
These other countries managed to make a rapid comeback from the effects of World War II, and are today considered among the developed countries. One important fact missed here is that these countries were able to progress faster because the war situation was completely different from the Iraq War. It was then a case of world war where the European countries in question were on the winning side and got maximum support in the post-war aftermath. The case of Iraq, by contrast, is more of a civil war, where there exists a possibility of the country being split into multiple fragments.
Even if it stays as one nation, it will still take a good long time for the economy to recover. Similar to Iraqi dinar, similar rumors are reported for Vietnamese dong and, most recently, the Egyptian pound. No banks are offering Iraqi dinars. If you have to buy Iraqi dinars, you can buy them only at select money exchangers, who may or may not be legally registered.
How Iraq, its economy and hence the forex rate develop over the long term, is going to be a long term uncertain bet. Trading forex currencies is always risky, as external factors at international levels are difficult to control or predict.
Unless you are trading on regulated markets or through regulated agents, traders and investors should use extreme caution for trading such currencies.
By Shobhit Seth Share. Is there the possibility of a scam in such an investment scheme? Financial scams usually have certain characteristics. A few tip-offs include: In the case of the Iraqi dinar investment scheme, there might be additional red flags: The basics of forex First, here's a very rudimentary explanation of what it means to invest in a currency. Trends further down the line will depend on the current and future developments in the region.
Now to the other side of the coin:
Top IQD Exchange Rates
This currency convertor is up to date with exchange rates from September 5, Enter the amount to be converted in the box to the left of the currency and press the "convert" button. To show Iraqi Dinars and just one other currency click on any other currency. The Iraqi Dinar is the currency in Iraq (IQ, IRQ). Welcome to the Iraqi Dinar exchange rate & live currency converter page. The Iraqi Dinar (IQD) exchange rates represented on this page are live, updated every minute within the forex market's trading hours of Sunday through Friday GMT. Free realtime forex chart for USDIQD (US Dollar / Iraqi Dinar) foreign exchange, including easily-selectable and configurable technical indicators for analysis of online forex trading.