I've heard some speculation about it, and I wanted to get others' opinions of this. Many people speculate that it will revaluate for a nice profit from it's current rate of about 1170 Dinars/ 1 US Dollar to something much higher when it goes online for worldwide trading. What are everybody's thoughts on this investment? Does anybody have any idea what it will revalue to? Does anybody have any idea of a timetable for this to happen? It's hard to find unbiased info on this, and all opinions are appreciated.
Iraqi Dinar (IQD)
- Thread starter trader912
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IQD can be a potentially good investment, but there are 2 big caveats you should understand:
1. Iraq is an exporting economy. They benefit from a weaker currency. This may limit the appreciation pace.
2. Consider huge spreads and commission for USD/IQD trading. It's a very illiquid pair.
1. Iraq is an exporting economy. They benefit from a weaker currency. This may limit the appreciation pace.
2. Consider huge spreads and commission for USD/IQD trading. It's a very illiquid pair.
I agree with your assesment, and I did not get the greatest conversion rate, but it got me in the game. I currently hold 225,000 Dinars just to prospect with. Some are saying that it will have a major return, but I just don't see that. I'm looking for a more modest return, maybe even a 10-1 profit. Who knows.
My main concern is that I've heard they will drop the 3 zero's from the currency to make it easier to use. So, a 25,000 Dinar note would become a 25 Dinar note and that they could make that close to a 1/1 dinar/dollar value. Don't want my currency to become obsolete.
I've asked many brokerage firms, and none have any idea as to when it will come online for trading. I'm hoping soon to see if this is a lame-duck investment or one with a major return.
My main concern is that I've heard they will drop the 3 zero's from the currency to make it easier to use. So, a 25,000 Dinar note would become a 25 Dinar note and that they could make that close to a 1/1 dinar/dollar value. Don't want my currency to become obsolete.
I've asked many brokerage firms, and none have any idea as to when it will come online for trading. I'm hoping soon to see if this is a lame-duck investment or one with a major return.
Currently IQD can be considered a very passive investment. Similar to real estate maybe. For it to come to on-line Forex market, the liquidity should increase - and for that they need normally functioning exchanges in Iraq - and for that they need more stability.
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