PDA

View Full Version : Iraqi Denar



damali_sala
04-21-2005, 01:37 AM
Hello All,

I talked to my uncle yesterday and he told me about purchasing some Iraqi Denar. He purchased his at a little more than 1,400 Denar per US dollar a couple months ago. I did some research last night and the exchange rate has already decreased to about a little over 1200 Denar per US dollar. Many finance experts are saying that the Iraqi Denar will be close to if not 1 to 1 with the US dollar within the next couple years as the country continues to stabalize more and more. I was thinking about purchasing about $5,000 worth. Has anyone else done any research on this?

What happened...The Iraqi currency is being switched to a new currency which was printed by the US government. Bush reserved a certain amount for investors to purchase. So now people are purchasing the currency as an investment.

I'm interested to know what you guys think.

blackluvdmom
04-21-2005, 05:20 AM
Question,

Once you purchase the denar what do you do with it? You can't sell it back you would lose money.

startingover
04-21-2005, 05:56 AM
I purchased some Dinar a few months ago and as I've been hearing, you'ld have to find a World Bank. You can't just walk into any ol bank and exchange it. If it does what the kuwaiti money did after Desert Storm, it will be worth the investment. The thing about it now is to buy it at a rate that is actually true to the current exchange. There is a lot of conversion taking place before most people in the states can buy it (if thye can actually find it). I bought mine while in Kuwait and got a good exchange. Just be careful.

damali_sala
04-21-2005, 06:59 AM
Why couldn't you sell it back? I would think that once the denar starts moving closer to the value of a dollar that when you sell it back you would have made a profit. For example if I purchase 1200 denar today for $1 US it has a value of .00083 per US dollar. If a year from now the value of the denar goes up lets say to 500 denar per US dollar it has a value of .002 US dollars. If you do the math, that original 1200 denar will be sold back for $2.4 US dollars. If the denar actually reached the value of a US dollar then you would get $1200-taxes from a $1 investment. I have to do more research before I make the investment. I'm not sure if you can set up an account and trade the currency electronically. I will do some more investigating.

Kinkes
05-03-2005, 03:53 AM
Originally posted by damali_sala@Apr 21 2005, 12:59 AM
Why couldn't you sell it back? I would think that once the denar starts moving closer to the value of a dollar that when you sell it back you would have made a profit. For example if I purchase 1200 denar today for $1 US it has a value of .00083 per US dollar. If a year from now the value of the denar goes up lets say to 500 denar per US dollar it has a value of .002 US dollars. If you do the math, that original 1200 denar will be sold back for $2.4 US dollars. If the denar actually reached the value of a US dollar then you would get $1200-taxes from a $1 investment. I have to do more research before I make the investment. I'm not sure if you can set up an account and trade the currency electronically. I will do some more investigating.

816815



Wow, this sounds like a great investment. Have you found a way of trading electronically? If so, please let us know.


Thanks! :D

China
05-03-2005, 07:29 PM
Yes, please share!!

Kinkes
05-04-2005, 02:29 AM
I found a couple of sites where you can purchase foreign currency online. Anybody know if they are safe?

netta1
05-04-2005, 03:47 PM
GOOD TOPIC, I brought this up a while back ago and nobody knew what I was talking about, LOL.


Anyway, there are several resources for Iraqi Dinar, the best thing to do is do your research on it by typing "Iraqi Dinar" in a search engine.

There is also a investors Forum

Iraqi Dinar forum (http://www.investorsiraq.com/index.php)

Anyway not too long ago they were handing out this information to a police department in my state and telling officers to invest. I recently bought 100,000 in Iraqi Dinar which actually came to about 100.00 american dollars, do you realize that if the dinar goes up by just one penny I would have 10,000, how sick is that ??????? :D And if it goes up by 1.00 well that would equal 100,000 American dollars, thats pretty darn good since I only invested 100.00 dollars. I think my caluations are correct but you can always check them on A way to buy Dinar (http://safedinar.com).

You can also by Dinar from Ebay (thats how I got mine) and I plan on getting more. 20,000 increments are the safest way to go because they have the most security codes. Anyhow there is information like this on the forum listed above so check it out guys!!!!! Happy investing :2cents:

China
05-04-2005, 07:48 PM
Thanks netta!

China
05-05-2005, 04:55 PM
Netta1,

When did you purchase the Iraqi Dinar and what bank are you going through?

netta1
05-05-2005, 10:01 PM
Hey china,

Theres a man by the name of Joey who sells them on Ebay my mom actually purchased them for us about a couple of months back. It took about one week and half before we received them.

Heres his email

joeysharplin@yahoo.com



Make sure your your specific about your request and do ALLLLLLLL the research you can.


Oh and because Dinars aren't on the "international market" yet banks won't exchange them. All the hoopla is regarding at what price the Dinar is going to open at. Heres a discussion about it taken from the forum I mentioned earlier http://www.investorsiraq.com/showthread.ph...ghlight=opening (http://www.investorsiraq.com/showthread.php?t=964&highlight=opening)

AgentDime
05-07-2005, 01:20 PM
My father about $1000 US worth of Iraqi Dinars. He encouraged me to make a purchase, but I did not. I was thinking the so many people would buy them, the value would never reach what the speculations. Also there is an issue of where you will exchange them.

Good luck to those who have made the investment, and if they come out to be a great investment, I hope I am still in good with daddy!

China
05-09-2005, 08:36 PM
Thanks again Netta1. I've been reading on that message board for the last few days.

Kinkes
05-16-2005, 03:57 PM
Originally posted by China@May 9 2005, 02:36 PM
Thanks again Netta1. I've been reading on that message board for the last few days.

840581


Have you purchased anything yet, China?

CatSuga
05-17-2005, 06:31 AM
Originally posted by netta1@May 4 2005, 08:47 AM
I recently bought 100,000 in Iraqi Dinar which actually came to about 100.00 american dollars, do you realize that if the dinar goes up by just one penny I would have 10,000, how sick is that ??????? :D And if it goes up by 1.00 well that would equal 100,000 American dollars, thats pretty darn good since I only invested 100.00 dollars. I think my caluations are correct but you can always check them on

Can someone second this.

http://www.xe.com/iqd.htm
__________________________________________________ _________

Ok, edited to add research
The facts are that the ISX will open.....one day. ;)
2005, 2006, 2007 or 2010.....one day.
And on that day the IQD will open up at least at 1 penny.

1,000,000 IQD X 1 USD penny = 10,000
1,000,000 IQD=683.39
10,000<------>683.39= Straight pimpin&#39;
__________________________________________________ ________

Edited for another question!
How is everyone buying their dinars?
I see that some people are opening Iraqi bank accounts and wire money(western union) to them to be xchanged to IQD. I think I&#39;m going to do this.
http://www.warkainvestmentbank.com/contact_us.htm

China
05-17-2005, 11:25 PM
Originally posted by Kinkes+May 16 2005, 02:57 PM-->
<!--QuoteBegin-China@May 9 2005, 02:36 PM
Thanks again Netta1. I&#39;ve been reading on that message board for the last few days.

840581


Have you purchased anything yet, China?

848463
[/b]

Not yet. I planned to purchase in June, though. Me and my friend are both planning to put up about $800.

CatSuga
05-18-2005, 12:29 PM
Ok, after more studying I just got an email from Warka bank.

Basically all I have to do is Email them my information and they will open the account (which doesn&#39;t have to be funded for 60 days, so as of right now that means free) and then western union a deposit and they transfer the $$$ over into IQD.

www.warkainvestmentbank.com

damali_sala
05-24-2005, 08:51 AM
Hey guys,

When I opened up this topic I didn&#39;t know much about the Dinari and what all was going on. I am actually purchasing my Dinari from my uncle&#39;s friend who is a banker and has access to the world bank system. He has setup an account with a foriegn bank. He said like stated before the Dinari is not on the market as of yet. However because Iraq&#39;s government has formed a democracy and is moving towards stability the limitation set as a result of the gulf war will be lifted sooner rather than later. I am no expert on this subject nor have I done all of the research. My family members who are into economics and investing understand the details and how it all works. They have invested their own money so that was good enough for me. I am purchasing $2000 US worth. I will have done a little bit of research. And from that all I have to say is make sure that you are purchasing your Denari from a credible source. Most of all just be careful.

China
05-26-2005, 06:34 PM
Originally posted by damali_sala@May 24 2005, 07:51 AM
I will have done a little bit of research. And from that all I have to say is make sure that you are purchasing your Denari from a credible source. Most of all just be careful.

857907


This is why I haven&#39;t purchased just yet. What bank are you going through?

kikicoily
05-26-2005, 09:12 PM
I think this could be a rewarding investment, but I did a little research and came across this article in CNN Money. I guess, basically it&#39;s a risk, just like any other investment.

Risky investment (http://money.cnn.com/2004/08/10/pf/expert/ask_expert/)