The Exchange rate for Iraqi Dinar
In 1982, one Old "Saddam Hussein" Dinar was equal to $3.22 US Dollars (USD). This rate did not waiver until 1988, when black market trade of the Dinar began to increase. After the Gulf War, the the dinar still retained a value of 1 Iraqi Dinar to $.33USD. It was not until after Operation: Iraqi Freedom (beginning in 2003), that the dinar plummeted to a value of just 1 Iraqi Dinar to $0.00027USD. This is when the currency became the New Iraqi Dinar (IQD).
After the capture of Saddam Hussein, investment opportunities in the Dinar were made apparent. The value of one IQD went from $0.00027USD in October of 2003 to $0.00068USD in August of 2004. That is roughly a 252% growth. To put that in perspective, say that you were able to purchase 5,000,000IQD at the listed exchange rate (1IQD = $0.00027USD) in October, 2003. That would have been a $1,350 initial investment. By August of 2004, less than a year, that same 5,000,000IQD was now worth $3,400USD, for a gross profit of $2,050!
Since that dramatic increase, the exchange rate has held steady at roughly 1IQD = $0.00067USD. Even so, it is clear why many investors think that the Iraqi Dinar has the potential for massive growth. Compare this with the Kuwaiti Dinar after the Gulf War. The World Bank set the value of one Kuwaiti Dinar equal to $0.10USD. Today, one Kuwaiti Dinar equals approximately $3.45USD.
So, what will the Dinar be worth in 5 years? At this point, economists are estimating that the IQD will stabilize (eventually) somewhere between $.01USD and $1.00 USD. The timeframe for that is currently unknown and depends largely upon how quickly the Iraqi economy is able to rebound. Imagine: if you invested just $1000 at the current exchange rate and the Dinar increased in value to $1USD, you would have a gross profit of over a $1,000,000USD. With a wealth of resources and support, the future of the Iraqi Dinar looks bright indeed.
Interested in investing in the Iraqi Dinar? Visit our approved seller: Dinar Profits.com.
Below is a graph of the Iraqi dinar to US dollar exchange rate over the last three months. The dinar has been steadily appreciating over the last few months and the rate as of Jan 16th, 2008 is 1IQD = $0.00083USD). We update the graph approximately every month. You can also find more exchange rate information from the Central Bank of Iraq, here.
Links, news & information:
Information and news on Iraqi Dinars
Buy Iraqi Dinars from our trusted supplier
Why Invest In Iraqi Dinars?
Your Guide to Investing in Iraqi Dinars
Ten questions you should ask before buying Iraqi Dinars
The Pros and Cons of Investing in Iraqi Dinars
Find out if your Iraqi Dinars are authentic
Follow the Iraqi Dinar exchange rate
Steady Increase in the Iraqi Dinar
American Banks Convert Iraqi Dinars
High resolution images (provided by www.DinarProfits.com):
The 25,000 Iraqi Dinar
The 5,000 Iraqi Dinar
25,000 & 5,000 Iraqi Dinar comparison