Business and Management

Should You Have Iraqi Dinar Currency, Selling It Won’t Be Easy

If you're among the thousands of those who have purchased Iraqi Dinar money in hopes of scoring a major profit, you might now be wondering what options there are for liquidating your Dinar holdings. To explore more details about Iraqi dinar you may check here

Should You Have Iraqi Dinar Currency, Selling It Won't Be Easy

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The Iraqi Dinar investment fantasy has existed for almost a decade now. The fantasy is promoted by a slew of sites that sell Iraqi money – that is, real bodily bundles of money – to"investors" through mail order.

 The sites' sales pitch goes like this: "Before the 1990's Gulf War 1 million Dinar was worth $3,200,000 USD; now you can purchase 1 million Dinar for only $1,150.00 USD". Since the Iraq economy enhances the Dinar will probably be revalued.

If the revalue reaches a level approaching it is pre-war exchange rate, today's small cash outlay could return countless those savvy enough to get in now. Iraq's vast oil resources, well-educated population and ensured rebuilding aid from the use make purchasing Iraqi dinar almost a sure bet."

This rationale has proven persuasive for tens of tens of thousands of folks who have taken the plunge and purchased Iraqi currency.

But people who buy Iraqi dinar aren't purchasing a liquid, actively traded investment; instead, they're purchasing a numismatic"classic" which has very substantial transaction costs. By way of instance, today you can expect to pay about $1,150 USD for 1,000,000 of Iraqi Dinar (IQD) money from online dealers.

The exact same 1,000,000 IQD has an official exchange rate value of only $854 USD – a hefty 30% markup. Traders justify this margin by noting the high costs of transporting and safekeeping foreign currency bundles.  

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