History of the Iraqi Dinar

Historical value of the Iraqi Dinar, from 1932 to 1982, has fluctuated between $4.86 US and $3.22 US PER DINAR.  On October 15, 2003 a New Iraqi Dinar was introduced to replace the old ‘Saddam pictured’ Dinar.  It has unified Iraq under one currency which reflects great history and strength in Iraq and avoids any religious or political images.  Prior to the war in Iraq, the official international exchange rate for the Dinar was $0.33 US per Dinar.  In 2006, it is now at its lowest point in history at $0.00067 US.

Iraq’s situation is similar to that of Japan and Germany after World War II.  Their economies were at rock bottom so you could buy up lots of their currency at a very cheap price.  Once their economies were back on track, anyone who had taken advantage of the situation became extremely wealthy, almost overnight!

The New Iraqi Dinar is not a traded currency at this present time, but it is expected that the international exchange rate should be set in the near future.  Once this is set, you will be able to take your Dinar to any international bank or money exchange and turn it into dollars!

 

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