Invest Now in the Iraqi Dinar!

Written by Seattle News Stations on . Posted in Buying dinar, Dinar, Iraqi dinar exchange rate history

Iraqi dinar exchange rate

The Dinar, previously subdivided into 1,000 fils before fils became obsolete due to inflation, is the official Iraqi currency. Many people enjoy dinar trading. The dinar, and thus, dinar trading was introduced into circulation in 1932. It replaced the Indian rupee, which had officially been Iraqi currency due to the Post WWI British occupation. From 1947 to 1954, the National Bank of Iraq issued Iraqi dinar banknotes. After 1954, the Central Bank of Iraq took over issuing the banknotes and dealing with dinar trading. Until 1959, the Iraqi Dinar value was right on par with that of the British pound, making dinar trading a safe investment.

Iraq is referred to as the cradle of civilization. Though the country has had a tough time lately, 1,260 Iraqi dinars currently trade to the U.S. dollar, a level that had not been reached since last year. The last United States troops in Iraq withdrew from the country in December of 2011. At that time, the war had been going on for almost 9 years, Saddam Hussein, the Iraqi president was overthrown and executed, and dinar trading became an unsafe speculation.

Between 1990 and October 2003, dinar trading banknotes were issued issued bearing a beautified engraving of Saddam Hussein. The face of Saddam Hussein is no longer on the Iraqi Dinar value banknotes in print today. Investors may still be able to purchase the old bank notes online if they so choose, however, many people who engage in dinar trading do not want banknotes with the face of Saddam on them.

The largest number of foreign born Iraqis currently residing in the United states are living in Michigan, California, and Illinois. For these people, the dinar trading is not just a material exchange, but is imbued with emotional value as well. Dinar trading may be a particularly good activity for these foreign born individuals in both a financial and emotional sense. Learn more at this link.

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