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8 Best Reasons why you should consider the Iraqi Dinar
If you do a search on the Iraqi dinar and investing, you will see many reports for and against investment. It can make it very difficult to decide whether it is worth the money spent. Seeing the benefits mapped out is the best way to determine whether investing is a move you want to do.
With the current exchange rate, you can invest in thousands of Iraqi dinar for only a few dollars. This means you do not have to worry about losing a massive amount of money. This can be a real fear for American investors looking at the stock market. In fact, it is a number one reason why Americans are investing in the dinar; they have lost thousands in the American stock market when it crashed.
2) Deletion of zeros occurring soon
The project has been on the to-do list for the Central Bank of Iraq since 2006. It has been postponed numerous times, however, the International Monetary Fund is making the project be a now or never situation. The parliamentary committees that have been in discussions with the Central Bank of Iraq are waiting until after the parliamentary elections early next year. They feel this would have the least amount of shock to the economy as possible.
3) Large return
The Iraqi dinar is currently worth .0007 of a cent. This means if you spend one dollar, you will get 1430 dinars in return. If the dinar returns to $3, then your one dinar would be worth $3. This means that 1430 dinar would be $4,290, and you only spent $1. Even taking the reports from the International Monetary Fund that says they will set the value at $1.50, you are set to see a large profit. By spending one dollar now, you will be able to make $2,145 after the revalue project is complete. The profit percentage is off the charts. When the dinar rises from .0007 of a cent to one full cent, you will have already made $14.
4) No debt
Unlike the United States, Iraq does not much, if any, debt. The country has worked to pay off all creditors, and the export of oil has helped them regain the money. The ability to be debt-free means they will not lose any of their profit after they control the smuggling and counterfeit money operations. The more money that Iraq keeps in their reserves, the stronger the dinar will grow. This, in turn, makes it more profitable for you, the investor.
5) Large export ability
Iraq is one of the few countries that have a commodity that everybody not only wants, but they need, oil. The oil that is under the surface of the country of Iraq is high-grade oil, and is invaluable. This allows Iraq to set the cost and it will fluctuate as unrest occurs. The oil export business is about supply and demand, and as the demand increases, so will the price. Iraq will benefit from this by strengthening their economy, and due to reason number four, they will not have money come back out.
6) Precautionary measures going into place
The Central Bank of Iraq and the parliamentary committees are putting precautionary measures to prevent a major shock to the economy. They will have both values of the dinar on the market for a few years to allow the exchange to be gradual, but will then phase out the old dinar. This will allow the economy to be barely affected, and with the increased value, the unemployment levels will begin to drop.
7) Lowered unemployment levels
The stronger dinar will push purchasing power, which will lower the unemployment rates. This helps you as an investor because more businesses will start in the country of Iraq. The strength of the dinar will continue to grow, which could push the value of the dollar down. If this occurs, then the value of the dinar actually will become greater in comparison to the dollar. The lower unemployment levels also mean that people will have more money to trade the dinar, but since the dollar is still needed for travel, they will want to purchase your money.
8) Tougher regulations
It is important to realize that the regulations regarding the exchange of dinars to dollars and vice versa will be tougher. This is to prevent the counterfeiting operations to lower the value of the dinar by flooding the market with worthless banknotes. If you purchase your dinar through the correct channels, then you will have no problem exchanging it for dollars when you decide to cash in. You will need to purchase from a reputable seller, which is not someone who approaches you on the street, and you will need to present your identification. Finally, after your purchase, you will need to make sure you are given a document showing proof of purchase. This document will be needed when it comes to exchanging your dinar for dollars.
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