Iraqi Dinar is the official currency of
Iraq. It has been in circulation for as long as 1931 and is known for its
fluctuating nature as it has gone through vast changes since it initiated. It
is commonly known as IQD
Iraqi Dinar has always been in the eyes of
marketers for its volatile nature, even before its birth in Iraq, Iraqis used
to use Indian Rupee as their currency. Right from its circulation started that
is 1931 till 1951, Iraqis used IQD widely as pegged to British pound, and then
in 1959 it was pegged to the US dollar. It was then when Iraqi dinar equalled
2.8 dollars. Then came the era of 1971 and 1973 when US dollar was devaluated
and its currency market faced a devastating recession. US dollar being the
power currency affected many stock markets, bringing a lot of state currencies
up and down. So did happen to raqi dinar. It was brought down to $3.2169 and
persisted until the Gulf War began in 1991. It was remained the situation of
IQD. The new notes then came in denominations of 50, 250, 1000, 5000, 10, 000
and 25, 000.
The present situation of Iraqi dinar can
easily be seen as it was after the fall of Saddam Hussein, when investors
thought to spend in dinar and expect good profits, but it never happened.
However, experts still recommend that the investment in dinar in future will
not go in vain. Market for the IQD will rise, giving investors a good break
from losses or no profits. That will be the day when Iraqi dinar will be in
demand and the people who have invested in it will continue to earn profits.
Presidential order 13303 allows US citizens
to make an investment in dinar seeing Iraq’s potential to make good production
and profits with its oil and gas industry. So there are still a lot of chances
for the investors to see profits in their future investments as IMF expects
Iraq’s finances and economy to improve so much that the concerned authorities
have the comfort of allowing the dinar to do good even under the pressure of
oil money flows in the country.
Therefore, in long term, it can be said
that the central bank can make 1 dinar equal to $1 that too along with
redenomination and appreciation. It may take longer, but yes there are chances
for IQD to rise and shine in near future. So all the investors out there
thinking to buy or sell Iraqi dinar must visit Buy New Dinar Online currencystore. It has an experience of over 10 years and offers such features that seem
flexible to every being. With 24/7 customer service, Buy New Dinar online
currency store offers same day dispatching service and tracking. The presence of
our inventory also makes us a reliable source of online currency dealing. So
investors, come here to get the best prices for your currency and you will be
amazed by the services we offer.
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