Fundamental Aspects of Increasing Trend in Iraqi Dinar

After the falling of the Saddam Hussein’s Regime, political and economic reforms created hopes for rebuilding of the infrastructure and for the social, economical and political stability of Iraq. The new monetary system has inculcated such factors, which have brought the attention of the foreign investors towards to the Iraqi dinar once again. All the positive reforms being observed in the country have raised new hopes for a higher value trend in Iraqi Dinar.

The Iraqi government has also added to these positive signs by issuing treasury bills through central bank auctioned in the secondary market. The auction drew the attention of the local banks for purchasing the bills worth 900 billion Iraqi dinars (equivalent $ 628 million) at a token rate of 2.5% and 6.5%. The central bank of Iraq is also been observed to have taken measures to improve the value of the Iraqi dinar by increasing the foreign currency reserves; which would surely increase the exchange rate of the Iraqi dinar to USD.

All the measures would help in re-building of the domestic capital market and re-shaping the debt burden, which was built inappropriately in Saddam Hussein period. Remarkably, these measures have helped in waiving off 80% of the country’s debt by the Paris club. The apparent future aspects of the country’s growth and fundamental improvements along with the country’s growth oriented policy has gained the investor eye on Iraqi dinar.

Beside these above factors, development in the banking sector displays the potential and economic stability of the country. Foreign banks are also showing their interest and a few licenses have been granted to certain banks for starting their operations in the country. The banks, who have decided to start the businesses here, are the Iranian National Bank, National Bank of Kuwait, Bahraini Arab Banking Institute, Standard Chartered, HSBC, and Commercial Housing Bank. The presence of foreign banks in the country is the symbol of the revival of economic stability, which would ultimately help in boosting of the Iraqi Dinar.

Considerable measures have been taken by the world organization like UNICEF, WHO and USAID like giving aid and reforming advice for the growth of the country. These helps have provided the country certain leverage to increase the potential growth in other sectors outside the oil industry. Considering all the above factors, the Iraqi currency has recovered its potential value, which was lost in the Saddam Hussein regime and the Gulf war after effects. People are now in a better position being in possession of the Iraqi dinar and investors too are not going to be at loss while taking great interest towards investing in Iraqi dinar.

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Why You Should Buy Iraqi Dinar

If you wish or dream to get early a retirement in your life, then getting into the Iraqi Dinar will be the most lucrative option for you. Before 2007, buying the Iraqi Dinar was near invisible. However, when the rumors of the fresh Iraqi Dinar approached the market, they shocked the economic world and the currency market, triggering the investors to jump in for the new currency.
The recent plan to launch new Iraqi Dinar currency has been approved by the Iraqi Government and CBI. On the other hand, the rate of investment in Iraqi Dinar has significantly increased within a couple of days. Currently, the Iraqi Dinar is progressing towards the aim to dominate the Middle East with the exchange rate potential by welcoming investors to the trade of buy sell Iraqi Dinar.
With the news of Revaluation of Iraqi Dinar, being expected to hit the market at anytime, the best option would be to buy the Iraqi Dinar today and sell it when the progress hits the marketplace of Iraq.
Currently, the Iraqi Dinar is available in 6 denominations. Printed by the De La Rue England based corporation, all of the currencies of Iraq are prepared keeping in mind the best quality offered. This above mentioned corporation is the same that printed Swiss Dinars before the reign of Saddam Hussein. Comparing to the Dinars present in Saddam’s era, the latest ones come with safety features, making them much more difficult to counterfeit.
As a country, Iraq has always strived to bring about improvement in the issues dealing with foreign currency and has efficiently tackled and treated the inflation. However, it is extremely important that that the investors learn about the exchange policies of dealers and banks in order to be one-step ahead in this exchange.
On the other hand, the investors should also carefully ponder on the buy sell Iraqi Dinar as the value generated is overall based on the denominations and amount of the Iraqi Dinar you aim to sell. One should always keep track of the Revaluation of Iraqi Dinar, as it will be extremely helpful.
Undoubtedly, the Iraqi Dinar will prove to be the best and the strongest form of investment for people. Buying the Iraqi Dinar can be done at any moment in life as it comes with no limitations. Contact the dealer today and start investing in the Iraqi Dinar in order to have a safe future with this leading currency!
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THE HISTORY OF IRAQI DINAR EXCHANGE RATE

Iraqi dinar was introduced in 1931, the Iraqi dinar has replaced by British pounds into being pegged to the US dollar. The Iraqi dinar was equaled to US$4.86 between 1932 and 1949 and equaled to US$2.80 between 1949 and 1971, after being devalued in 1949.

As a gesture of independence in 1959, Iraq uncoupled the Iraqi Dinar officially from the Pound. But Iraqi dinar remained at equality with the pound till the currency unit of Britain was devalued in 1967for second time. Until December 1971, 1 Iraqi Dinar equated to the value of US$ 2.80.

Soon after the inflation of the United States dollar in 1973, the Iraqi Dinar valued to US$3.39. The value of Dinar remained same till the war of Iran - Iraq. Iraq in 1982 devalued the Dinar by 5%, equating it to US $ 3.22. In the earlier of 1988, the standard exchange rates Iraqi Dinar – Dollar continued to equate the Iraqi dinar (ID )1 to US$3.22. But, with levels of the nation´s cost of living rate varying from 25 % to 50 % a year in 1985 and 1986, the real exchange rate Dinar value, was much lower-only relating to half the 1986 official rate.

After the Gulf War in 1991, because of UN sanctions, the formerly used Swiss printing was no more offered. A fresh, lower quality notes issue was created. Because of the issues such as sanctions against Iraq by the United States and the extreme government publishing of the new notes matters, the dinar devalued rapidly, and in late 1995, 3,000 dinars equated US$1=.

In October 2003, the official Dinar value was 1 ID = US$ 0.00027.2004. In 2005 august, the official value of dinar - dollar exchange rates became 1 ID to US$ 0.00068. On January 1st, the rates fluctuated to the value of 1 ID = US$ 0.00068. The values further changed and become 1ID = US$ 0.00067 on January 1st 2006.

Under the rule of Saddam Hussein, Iraq experienced big political and economical changes. The new government however encourages foreign investments and aims to build its new monetary system. Thus, the value of exchange rate Dinar is expected to get increased rapidly.

Prepared with many safety features making the currency incredibly hard to counterfeit, each new note was created in the U.S. Empire by De La Rue, the biggest professional protection and anti-forgery papermaker on the globe.

The new currency was released in volumes of 50, 250, 500, 1,000, 5,000, 10,000 and 25,000 dinars and is portrayed with pictures of Iraq's lifestyle and pre-Saddam record. Many economists say that the Iraqi Dinar has the potential to increase its value in the future.

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