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Feasting on the iraqi dinar
1. Feasting on the Iraqi dinar:
These days Iraq is enduring some serious problems. Not even the economy of Iraq is going in the
right direction. On the other hand the production of oil in Iraq is very low too. Curses like
unemployment and inflation have also increased in the domain and it is now a serious problem for
the new Iraqi government to deal with. According to some recent business news the inflation rate of
Iraq has increased to 50% whereas the rate of unemployment has also increased to 60 percent in the
past few years.
Despite of all these economic, social, political and security issues the currency of Iraq is in high
demand. Since the month of September, the demand of dinar has been encouraged to almost 12
percent against the US dollar. And this matter has stirred the currency investment market of the
world. But if you are thinking that this is the end then don’t think about it now as there are many
website who are dealing in the trade of Iraqi dinar and many people are purchasing Iraqi dinars.
Many websites are selling Iraqi money to the American people and advertising their campaigns as
one of the best investment option of the day. But the question arises that is it possible to exchange
the Iraqi currency with other foreign currency at the time of the need? Well, there is no guarantee
because Iraqi dinar is not traded in the open currency market and the people who are buying Iraqi
currency are buying it thorough the online websites. Moreover it is hard to find a currency dealer
who is willing to purchase Iraqi dinars for any other foreign currency.
On the other hand the Central bank of Iraq is buying US dollar by selling oil to America and the US
dollar is being used to counter the increasing inflation rate in Iraq. Many investors still think that the
value of Iraqi money will rise and it will be fruitful for the people to purchase Iraqi money. If you have
also invested in the Iraqi currency then you will have to wait for a very long time, until the value of
the Iraqi dinar will rise and it will become legal for the people to trade Iraqi currency in the open
market.