Dinar trade exchange rate
This is a question that all investors and would-be investors in the Iraqi dinar must be aware of at all times. Currency prices can change quickly, and often on very short notice. A single significant news event affecting the issuing country can cause large swings in the exchange rate, in either direction.
As of September,the currency is basically in a holding pattern as to what the Iraqi dinar is worth. The situation in the country itself is stable, relative to the potential range of issues that could affect its status. The most effective way to do that is dinar trade exchange rate using an Iraqi Dinar exchange rate calculator.
The value of the Iraqi dinar in US dollars has been fairly stable since early The Iraqi dinar exchange rate was pegged to the US dollar as of January at a sell rate ofand a buy rate of to 1 US dollar. However, the dinar is subject to widespread swings, since it is considered to be an exotic currency. Like all international currencies, the Iraqi dinar exchange rate is subject to market fluctuations.
Currencies trade daily, and the exchange rate for each currency is dependent upon both international events, and those taking place within the issuing country. This is similar to any currency exchange, such as euros to dollars. One of the complications with a currency like the Iraqi dinar is that it is very thinly traded.
This can make the international Iraqi dinar exchange rate uncertain. However, it does have a recognized exchange rate internationally nonetheless. Apart from the Iraqi dinar exchange rate with the US dollar, here are the exchange rates of the Iraqi dinar into various major currencies, as of September 26, It was introduced by the British during the military occupation in World War I.
Inthe Rupee was replaced by the Iraqi dinar. The initial Iraqi dinar exchange rate was one dinar to 11 Indian rupees. The Dinar was also pegged to the British pound until At that time, dinar trade exchange rate peg was moved to the US dollar. It remained at that level until The dinar went through a time of turbulence following dinar trade exchange rate Gulf War in The currency declined in value due to excessive money printing by the Iraqi government.
But also hurting the currency was that dinar trade exchange rate the war, dinars were no longer dinar trade exchange rate using Swiss printing technology. The newly printed currency was of lower quality, and declined in purchasing power rapidly. By latethe Iraqi dinar exchange rate had fallen to 3, to the US dollar on the black market. After the coalition invasion indinar trade exchange rate post-Gulf War currency was replaced by a new one, but still called the Iraqi dinar.
The Central Bank of Iraq announced a plan to re-denominate dinar trade exchange rate dinar in It was thought that this would better facilitate cash transactions. The plan included dropping three zeros from the nominal value of the currency, while retaining the original purchasing power. It is nonetheless hoped that dinar trade exchange rate will take place at some point in the future, though any specifics cannot be known at this dinar trade exchange rate.
There are a host of variables that simply cannot be anticipated. Due to the number of factions within Iraq, as well as various levels of influence and intervention by surrounding countries, political stability in the country is questionable.
An election or insurrection could change the situation quickly. Iraq has multiple factions in conflict with one another. The outcome of these internal conflicts could determine if a revaluation happens, and what value will be assigned to the currency at that point if it does.
The current situation in the country is tentative. While the US military has substantially withdrawn from Iraq, dinar trade exchange rate nevertheless maintains a significant presence. That presence is a stabilizing factor. Should the US decided to withdraw completely, the entire situation in Iraq, at all levels, could change radically. Iraq is located in what is probably the most militarily unstable region in the world.
Oil supply and price. That means that the economic fortunes of the country rise and fall with the price of oil. This could lead to a higher valuation on the dinar. That once again, could lead to a collapse in the value of the dinar. When and if a revaluation occurs — and it absolutely is not certain — the value of the currency will be determined by the above factors. The best way to determine the price activity of the currency is with a specific Iraqi Dinar exchange rate chart. That will enable you to trace the currency valuation going back as far as 10 years.
An Iraqi Dinar exchange rate chart covering the previous 12 months is generally sufficient for investing purposes. An example is the chart below:. The chart not only reveals the fluctuations in the Iraqi Dinar over the past 12 months, but also the highest, average and lowest valuations during that timeframe:. Though the recent dinar trade exchange rate of exchange rate activity with the currency in no way reflects its future direction, these numbers do provide at least some guidance.
For example, the chart above shows that as the Iraqi Dinar approaches its high ofit tends to pull back. And when it dinar trade exchange rate its low ofit tends to rise somewhat. These numbers are certainly not absolute. But they do establish at least a fairly reliable trading range for the dinar trade exchange rate. However, once again, an exotic currency like the Iraqi Dinar is more likely to be affected by events in and around the country, and with the price of oil, than it is dinar trade exchange rate any trading ranges or currency dinar trade exchange rate.
The short answer, is very few! Even large banks are pulling out of currency dinar trade exchange rate. This is even more true of thinly traded currencies, such as the Iraqi Dinar.
Not only selling, but what banks buy Iraqi dinar is even more open to question. The best source to either buy or sell exotic currencies like the Iraqi Dinar are currency traders.
But make sure that any that you use operate in full legal compliance. Also make sure that they have reliable third-party references, such as through the Better Business Bureau.
Only you can know if a given currency is investment worthy — not a trader who is looking to make a sale. Here at Treasury Vault we wish to remind you that investing in the Iraqi Dinar, or in similar dinar trade exchange rate currencies, is highly speculative. We suggest that you invest only with money that you can afford to lose, and make sure that the vast majority of your investment portfolio is held in more stable investments.
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