Is it time to buy Iraqi Dinars?
Although U.S. troops left Iraq at the end of 2011, news of the country is sill a daily topic in America.
Are we familiar enough, and comfortable enough, with what is happening in Iraq today that perhaps this is the time to consider Iraqi dinar investment as part of a personal portfolio?
Recent elections were notably peaceful, but in a democracy the majority rules. In Iraq, the Shiite Muslims hold the majority over their Sunni brethren and are in power in the government. This has led to some resentment in the Sunni population, and has resulted in unrest. Prime Minister Min Nuri Kamal al Maliki has made overtures to the Sunni community to find ways to maintain the peace and move Iraq forward as a progressive Arab state.
The changes and increased stability in Iraq have attracted foreign investment, and this has led to more interest in Iraqi dinar investment. The largest provider of Iraqi dinar in the United State is GIDAssociates.com, a currency trader, not an investment house.
As a currency, the dinar was first brought into circulation in 1932 and the iraq currency was pegged at par with the British pound in 1959. Times have changed, and for much of last year, the Iraqi dinar conversion was one US dollar for 1,200 dinars. Former President Saddam Hussein had his face on the dinar in 1986, and on notes issued from 1990 through October of 2003.
As far as Iraqi dinar investment, the banknote itself is due for a facelift with some remarkable features: a color changing symbol such as seen on a credit card, ultraviolet markings visible only in that light, raised inks, and metallic inks that can communicate with a cell phone held near it, touch sensitive currency paper what can hold onto a fingerprint, and notes with discrete serial number with western and Arabic numbers. But those are not quite ready for circulation. These additional safeguards will make Iraqi dinar investment even safer.
In the United States, there is a solid demand for Iraqi dinar investment. GIDAssociates sells billions in uncirculated dinars every month, in 10,000 and 25,000 dinar notes. Customers buying dinars must be US based and use funds drawn on US banks, with all shipments of the banknotes through the US Postal Service.
As a currency trader, GIDAssociates does not provide Iraqi dinar investment advice. The value of the Iraqi dinar to the US dollar can rise and fall and has done so.