You may question whether or not an exchange in Iraqi Dinar would be worth the expense. Buying or selling the Iraqi Dinar could be provide a currency that is worth more in the future or one that may be worth less. Buyers should be aware of the risks involved in buying the Iraqi Dinar and holding it in it’s physical form. Buying the the Iraqi Dinar involves risk and may not be suitable for all individuals. When buying the Iraqi Dinar you must recognize there is a significant risk of loss involved.
All individuals who engage in buying the Iraqi Dinar need to acknowledge the risks. Lifesong Development Group is a company that specializes in foreign currency exchange. One of the over 80 currencies we sell is the Iraqi Dinar for those what want to buy Iraqi dinar and we buy Iraqi Dinar for those who want to sell it. There are many factors that play into the current status of the Iraqi Dinar.
Some individuals focus on the fact that Iraq has one of the largest oil reserves in the world, second only to Saudi Arabia. Prior to the first Gulf War, Iraq was also the second largest oil-producing country in the world. At that time, Saudi Arabia was the first with Kuwait following up in third. In essence, Iraq is sitting on what could be a potentially lucrative business. This may or may not impact the value of the Iraqi Dinar in the future.
The origin of the Dinar was in 1932 when British rule in Iraq was obliterated. At that time, the Iraqi Dinar was still related to and equivalent to the British pound sterling. Over the years, the Iraqi Dinar’s exchange rate has fluctuated as the country’s international relations have changed and economics have risen and fallen. However, in general, when the Dinar has fluctuated, it has tended to remain at the new rate for a substantial amount of time, rather than rising and falling with every small fluctuation of world currencies. In 2003, when Saddam Hussein was overthrown, Iraq began dramatic changes both economically and politically. Many experts agree that with the restoration of the infrastructure of Iraq, Iraq will grow and stabilize both socially and politically, as well as, economically. This does not necessarily mean the value of the Iraqi Dinar will increase. The new government is instituting a new financial system which is encouraging investments from overseas. The central bank of Iraq is also granting foreign licenses. Even with positive changes, the value of the Iraqi Dinar may or may not increase in value. The value of the Iraqi Dinar has dramatically fluctuated during times of war in the country. The Dinar has already begun its upward climb and and increase roughly 45% in value since it was issued. However, that increase took place of a 12 year period and has stagnated. The Iraqi Dinar has not increase in value in the last 6 years. Whether the Iraqi Dinar will continue to increase in value is uncertain.