drembody
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| Iraqi Dinars |
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I know several people who are purchasing Iraqi Dinars each month. One person is buying 100,000 Iraqi dinars each month (2003 Issue) for about $72. The theory is that the Iraqi currency will rise against the dollar as the Iraqi economy recovers. Is this a scam?
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Sat Nov 20, 2004 10:53 pm |
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Doro Ajani
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That would depend on when the Iraqi economy will improve to function in such a way that the Iraqi dinar increases in value relative to other currencies...
With the Iraqi Dinar trading at D1,462.5000 IQD to $1.00 USD, I have a feeling that this may take a while.
Here's a table of values for national currencies worldwide:
quote:
Currency Name
Currency Code
Exchange Rate
Afghanistan Afghanis
AFA
A42.7850
Albania Leke
ALL
L101.5700
Algeria Dinars
DZD
D74.8580
Andorran Franc
ADF
F7.4659
Andorran Peseta
ADP
P186.1670
Angolan New Kwanza
AON
K58.1705
Argentina Pesos
ARS
P2.9400
Aruban Florin
AWG
F1.7700
Australian Dollar
AUD
$1.2795
Bahamas Dollars
BSD
$1.0050
Bahraini Dinar
BHD
D0.3770
Bangladeshi Taka
BDT
T61.0540
Barbados Dollars
BBD
$2.0780
Belize Dollar
BZD
$1.9750
Bermuda Dollars
BMD
$1.0015
Bhutan Ngultrum
BTN
N45.2530
Bolivian Boliviano
BOB
B8.2206
Botswana Pula
BWP
P4.5065
Brazil Reals
BRL
R2.7620
British Pound
GBP
£0.5381
Brunei Dollar
BND
$1.6676
Bulgaria Leva
BGL
L1.5087
Burundi Franc
BIF
F1,094.0000
Cambodian Riel
KHR
R3,974.6000
Canadian Dollar
CAD
$1.1936
Cape Verde Escudo
CVE
E84.6075
Cayman Islands Dollar
KYD
$0.8205
CFA Franc BCEAO
XOF
F503.3819
CFA Franc BEAC
XAF
F525.3500
CFP Franc
XPF
F91.5119
Chile Pesos
CLP
P588.5000
Chinese Yuan
CNY
Y8.2865
Colombia Pesos
COP
P2,521.0000
Comoros Franc
KMF
F393.7800
Costa Rica Colones
CRC
C462.9300
Croatian Kuna
HRK
K6.0616
Cuban Peso
CUP
P21.0000
Cyprus Pounds
CYP
P0.4457
Czech Republic Koruny
CZK
K23.9630
Denmark Kroner
DKK
K5.7040
Djibouti Franc
DJF
F180.7600
Dominican R. Peso
DOP
P31.0000
DXGold
DXG
1.0000
East Caribbean Dollar
XCD
$2.7200
ECU
XEU
E0.7674
Ecuador Sucre
ECS
S25,000.0000
Egypt Pounds
EGP
P6.3054
El Salvador Colon
SVC
C8.7570
Estonian Kroon
EEK
K12.0098
Ethiopian Birr
ETB
B8.9399
EURO
EUR
€0.7674
Falkland Islands Pound
FKP
P0.5885
Fiji Dollars
FJD
$1.6949
Gambian Dalasi
GMD
D29.5900
Ghanaian Cedi
GHC
C8,940.5000
Gibraltar Pound
GIP
P0.5428
Guatemalan Quetzal
GTQ
Q7.9836
Guinea Franc
GNF
F2,721.9000
Guyanese Dollar
GYD
$179.5000
Haitian Gourde
HTG
G35.5430
Honduran Lempira
HNL
L18.9870
Hong Kong Dollars
HKD
$7.7755
Hungary Forint
HUF
F189.0400
Iceland Kronur
ISK
K66.9960
Indian Rupee
INR
R45.0400
Indonesia Rupiahs
IDR
R9,003.9000
Iranian Rial
IRR
R7,900.0000
Iraqi Dinar
IQD
D1,462.5000
Israel New Shekels
ILS
S4.3913
Jamaica Dollars
JMD
$85.1000
Japanese Yen
JPY
¥105.4000
Jordan Dinars
JOD
D0.7140
Kazakhstan Tenge
KZT
T134.8900
Kenyan Shilling
KES
S81.5750
Kuwait Dinars
KWD
D0.2948
Lao Kip
LAK
K8,061.6000
Latvian Lats
LVL
L0.5244
Lebanon Pounds
LBP
P1,516.1000
Lesotho Loti
LSL
L6.0595
Liberian Dollar
LRD
$0.9950
Libyan Dinar
LYD
D1.3129
Lithuanian Litas
LTL
L2.6497
Macau Pataca
MOP
P8.2252
Malagasy Franc
MGF
F9,950.5000
Malawi Kwacha
MWK
K105.7600
Malaysia Ringgits
MYR
R3.8032
Maldive Rufiyaa
MVR
R12.8500
Malta Liri
MTL
L0.3328
Mauritanian Ouguiya
MRO
O259.9100
Mauritius Rupee
MUR
R28.5000
Mexican Pesos
MXN
P11.3910
Mongolian Tugrik
MNT
T1,120.3700
Morocco Dirhams
MAD
D8.6209
Mozambique Metical
MZM
M19,707.0000
Myanmar Kyat
MMK
K6.2625
Namibia Dollar
NAD
$6.1482
Nepalese Rupee
NPR
R74.1940
New Zealand Dollars
NZD
$1.4132
Nicaraguan Cordoba Oro
NIO
O16.1800
Nigeria Nairas
NGN
N130.0100
NL Antillian Guilder
ANG
G1.7686
North Korean Won
KPW
W2.2000
Norway Kroner
NOK
K6.2528
Omani Rial
OMR
R0.3860
Pakistan Rupees
PKR
R59.5500
Panamanian Balboa
PAB
B1.0050
Papua New Guinea Kina
PGK
K3.1646
Paraguay Guarani
PYG
G6,195.7000
Peruvian Nuevo Sol
PEN
S3.3040
Philippines Pesos
PHP
P56.3600
Poland Zlotych
PLN
Z3.2886
Qatari Rial
QAR
R3.6406
Romania Lei
ROL
L31,203.0000
Russian Ruble
RUB
R28.6900
Samoan Tala
WST
T2.6490
Sao Tome/Principe Dobra
STD
D9,024.0000
Saudi Arabia Riyals
SAR
R3.7505
Seychelles Rupee
SCR
R5.2090
Sierra Leone Leone
SLL
L2,460.0000
Singapore Dollars
SGD
$1.6495
Slovakia Koruny
SKK
K30.5210
Slovenian Tolar
SIT
T187.7700
Solomon Islands Dollar
SBD
$7.6453
Somali Shilling
SOS
S3,047.0000
South African Rand
ZAR
R6.0595
South Korea Won
KRW
W1,101.3000
Sri Lanka Rupee
LKR
R105.0400
St. Helena Pound
SHP
P0.5428
Sudan Dinars
SDD
D258.5000
Sudanese Pound
SDP
P2,582.5000
Suriname Guilder
SRG
G2,502.4000
Swaziland Lilangeni
SZL
L6.1710
Sweden Kronor
SEK
K6.9097
Swiss Franc
CHF
SF1.1630
Syrian Pound
SYP
P53.6930
Taiwan New Dollars
TWD
$32.8550
Tanzanian Shilling
TZS
S1,074.0000
Thailand Baht
THB
B40.3930
Tonga Pa'anga
TOP
P1.9646
Trinidad and Tobago Dollars
TTD
$6.2300
Tunisian Dinar
TND
D1.2439
Turkey Liras
TRL
L1,457,000.0000
Uganda Shilling
UGS
S1,722.6300
Ukraine Hryvnia
UAH
H5.4443
United Arab Emirates Dirhams
AED
D3.6731
Uruguayan Peso
UYP
P26.1800
US Dollar
USD
$1.0000
Vanuatu Vatu
VUV
V108.8000
Venezuela Bolivares
VEB
B1,921.0000
Vietnam Dong
VND
D15,760.0000
Yugoslav Dinar
YUN
D59.9410
Zambia Kwacha
ZMK
K4,817.5000
Zimbabwe Dollar
ZWD
$5,663.1000
Doro Ajani
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Sun Nov 21, 2004 12:02 am |
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drembody
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I guess the problem as I see it is the fact that the Iraqi Dinar's value is under the control of the Iraqi central bank. If we give them US Dollars for Iraqi Dinars, what incentive do the have to maintain a strong Dinar? Despite the fact that we have an exchange rate, the Dinar is not currently exchanged anywhere outside Iraq.
Iraq must have a counterpart to our Mr. Greenspan. Why would he want to make a bunch of foreign currency speculators rich? How does it benefit Iraq to have a strong Dinar when they have hordes of oil, gold, and US Dollars?
There are rumors of GIs who mailed boxes of Kuwaiti currency home during the first gulf war and became wealthy as the currency rose against the US dollar. Most of the folks playing the Iraqi Dinar are GIs mailing Dinars home in hopes of becoming rich when the Dinar floats to $3.00USD to the Dinar.
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Sun Nov 21, 2004 3:13 am |
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Doro Ajani
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Posts: 59
Joined: 11 Sep 2004
Location: New York City
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You can see from the current exchange rate that the GIs who got ahold of Kuwaiti Dinars have definitely turned a profit by now. This possibility may be what's driving the speculation in Iraqi Dinars.
Doro Ajani
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Sun Nov 21, 2004 4:54 am |
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pattyflip
Contributing Member
Cash: $ 2.01
Posts: 39
Joined: 22 Nov 2004
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I myself have invested in 500 000 iraq dinar. Maybe it won't go up in value, but sometimes you need to take a big risk for big rewards. You are getting dinars at less than a tenth of a penny so even if the value rises to one penny you are still making a lot of money. I would make $5000 dollars if that happened. Iraq has the potential to have a very strong currency. They have the population of canada, and are swimming in oil, which the world is running out of, so if most of their debt is forgiven, they shall begin to prosper. The worst case senario of investing dinar is you lose a few hundred dollars if the money is furthur hyper-inflated so if you do choose to invest, use your Vegas money.
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Mon Nov 22, 2004 10:26 pm |
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Andrew
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Cash: $ 459.45
Posts: 1694
Joined: 02 Nov 2003
Location: Texas
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A new Iraqi Dinar Forum you may be interested in.
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Tue Aug 02, 2005 7:01 pm |
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Offshore-Wealth.com
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Cash: $ 3.75
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| offshore-wealth.com |
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Interesting,
I did very well with the Kawaiti dinar, but that doesn't mean the same will happen with the Iraqi dinar, but it could. The one thing everyone can count on is this, what goes up comes down, and what is down will go up, this is what history has taught us over and over again.
The way I look at it is this. With the new Iraqi currency, it actually costs more to print than it is valued at this moment in time, and that is crazy. It is almost the same dilemma we in US have with minting a penny, it costs more to mint than it is worth. (g)
There are so many factors to consider when investing in currency markets, but the secret has always been buy low, sell high, nothing new here. If the value of the dinar is virtually worthless, then it would be my time to buy. Even without a western conversion outlet just yet, this will change soon as the US forces democracy down their throats, a constitution is mandated this month, the talk of dividing up country, second largest oil reserves in the world, number one in natural gas, it can't go any lower, so with little risk, and where small investments can trun into fortunes, I think it is a good gamble to pick up a million or two. (g)
Good luck,
FREE NO COST NO PURCHASE HOME BUSINESS RESEARCH & REVIEWS
http://RECESSIONPROOF-BUSINESS.com http://CRYSTAL-THIN.com
http://STOP-PAIN-FAST.com
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Thu Aug 04, 2005 10:23 pm |
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abmglobalteam
New Member
Cash: $ 0.45
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Joined: 12 Aug 2005
Location: USA
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| Am Afraid from Iraq |
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am not optimistic with any thing related to iraq!!!
VMG Online Marketing Specialist
http://www.geocities.com/abmglobalteam/
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Fri Aug 12, 2005 4:51 am |
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Offshore-Wealth.com
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Cash: $ 3.75
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Joined: 20 Jul 2005
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| Offshore-Wealth.com |
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Interesting,
There is more and more talk about investing in Iraqi dinar, yet there is no market yet defined, so go figure. Never in the history of currency investing has there been more buzz in the news media with a currency as worthless as this. LOL
Makes you wonder, are we seeing a market develop before the market is defined? I think this is shaping up as a sure winner as more and more people start stockpiling currency. After all, doesn't supply and demand rule in all markets. So why should it be different here?
As with all investments, only risk what you can afford to lose, but in this case, you can order a sample package and become an affiliate seller for only $30.US from OMPUS, so what risk is there in a small investment given you recieve nearly $2,000. in dinar in uncirculated anti counterfiet bills which if nothing else, may become collector items marking the new beginning of Iraq.
Good luck to all, Mike
Invest Peanuts For Millions
FREE NO COST NO PURCHASE HOME BUSINESS RESEARCH & REVIEWS
http://RECESSIONPROOF-BUSINESS.com http://CRYSTAL-THIN.com
http://STOP-PAIN-FAST.com
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Thu Sep 15, 2005 4:32 pm |
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Offshore-Wealth.com
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| Offshore-Wealth.com |
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Update,
Things are happening fast over the past month, and with billions in Iraq debt being fogiven, as well as open lines of credit from central banks, imagine what your countries economy would do if there was no debt?
Now consider the fact that Iraq is sitting on the second largest oil reserves, the most cost effective to refine, largest natural gas reserves, control over the two major rivers in whole region, and you will start to see what many of us are seeing.
Good luck to all, Mike
Invest Peanuts for Millions
FREE NO COST NO PURCHASE HOME BUSINESS RESEARCH & REVIEWS
http://RECESSIONPROOF-BUSINESS.com http://CRYSTAL-THIN.com
http://STOP-PAIN-FAST.com
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Sun Oct 02, 2005 5:28 pm |
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ryanmercer
Contributing Member
Cash: $ 8.35
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Location: Indianapolis, Indiana
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I decided a few weeks ago to do take the Dinar risk. My stormpay clicks money (not much but enough to buy 50k or so a month just from my boredom at work) as well as half of my adsense money gets invested each month into Iraqi Dinar... this is money I don't count on to live, Money as far as I care doesn't even exist... so I invest it in Dinar... if the dinar goes up hey I'm set... if not, I've got tons of interesting play money for my kids when I get around to starting a family.
-Ryan Mercer
http://www.ryanmercer.com
http://www.payformydegree.com
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Tue Oct 04, 2005 3:05 pm |
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currency
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I want to purchase iraqi dinars. Could someone give opinions for the legitimate & government registered websites dealing in genuine iraqi dinars
12dailypro.com
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Fri Nov 04, 2005 3:18 am |
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Offshore-Wealth.com
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| Iraqi-Investments |
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quote:
Originally posted by currency
I want to purchase iraqi dinars. Could someone give opinions for the legitimate & government registered websites dealing in genuine iraqi dinars
Greetings,
As there are many legitmate dealers who are registered to choose from, you should have little problem finding one with a google search under Iraqi Investments.
I have sold millions through Free-Dinar.com which is the referral affiliate of OMPUS, the registered dealer. You are assured of receiving authentic uncirculated notes for as little as $30.00 for sample package of $1,925.00 with complete information on how to verify what you are purchaisng is authentic.
You must be careful as many scammers are now seeing a new target as so many newbie currency investors are jumping on the dinar express. Now that the constitution is in place, plus final votes being counted as we speak, there is no better time than NOW to get your investment before the dinar is revalued. This could be your only chance to become a millionaire for peanuts and near zero risk. All you have to do is wait for revalue, and how difficult is that?
Anyone who wants a free sample $250. which could be worth thousands in a month or so, register your request NOW, no obligation to purchase anything, totally FREE SAMPLE of UNCIRCULATED IRAQ DINAR.
FREE SAMPLE....... http://www.trafficdinar.com/signup.php?r=25
To Become a Dealer for $30.00 ........ http://Free-Dinar.com
FREE NO COST NO PURCHASE HOME BUSINESS RESEARCH & REVIEWS
http://RECESSIONPROOF-BUSINESS.com http://CRYSTAL-THIN.com
http://STOP-PAIN-FAST.com
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Mon Dec 26, 2005 9:07 pm |
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dunfermlineyank
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wasnt it the iraq dinar that went up alot a couple of decades ago then it plumeted.
i might just buy some for the sake of it if they go up weyhey and if they dont i still have some dinars in my money collection.
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Fri Dec 30, 2005 7:23 pm |
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daisyjmv
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| The Dinar |
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I asked about it in a post above before I found this one.
I think I will invest in a few
Can't hurt
what's a good price?
Jan
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Tue Jan 10, 2006 1:28 am |
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