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Thread: The Future for the Iraqi Dinar

  1. #1
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    The Future for the Iraqi Dinar

    The Future for the Iraqi Dinar
    Posted on 21 October 2010. Tags: dinar, IQD, iraqi dinar, re-denomination, re-valuation, Redenomination, revaluation


    We get many enquiries at Iraq Business News relating to the future of the Iraqi dinar (IQD), for example:

    ◦Will the Iraqi dinar increase in value?
    ◦Will the currency be re-denominated, dropping the ‘three zeros’?
    ◦Is it wise to buy Iraqi dinar?
    Firstly, Iraq Business News is not in a position to give investment advice. Our mission is to provide our readers with the highest quality information on the business and economy of Iraq. We hope that this information will be useful to decision-makers at all levels.

    Regarding the dinar, we do not have a crystal ball, but in the past the ramping up of petroleum production has often caused currencies to rise, and it is certainly the plan over the coming years to greatly expand Iraq’s oil and gas output.

    Experts debate whether re-denominating the currency (dropping the zeros) would help the economy or change the underlying valuation of the currency, and we present all sides of that debate Investors might want to consider transaction costs when buying and selling dinars, and in the event of a possible re-denomination, the costs and practicalities of trading each 1,000 ‘current’ dinars for one ‘new’ dinar.

    We would recommend that investors get professional advice before putting any money at risk.

    As always, we will inform readers via the Iraq Business News website as soon as we have anything relevant to report.

    Best Wishes,

    Your Iraq Business News Team.




    http://www.iraq-businessnews.com/201...e-iraqi-dinar/

  2. #2
    Administrator shela1153's Avatar
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    We can look at this article in several ways I guess, One is, this is positive because the writer is acknowleding that the currency could very well rise in the future given increased oil production. On the other hand the writer stopped short of saying it was a good idea to invest in Iraqi Dinar. He also suggests it may be difficult to exchange your large notes for smaller ones if redenomination occurs. hmmmmmmmmmm. I don't see the later as a problem, except that you will again pay a fee for the exchange. If the currency revalues and redenominates it will surely be on the Foreign Exchange market and thereby being a tradeable currency, so exchange is demanded.

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