The most obvious important factor is IQD literally trades in the “forex black market” instead of regular banks and trading desks. Additionally, some incorrect statements are heavily publicized by the propagators of Iraqi dinar Investment schemes (incorrect statements in italics): “IQD is heavily undervalued at present and will rise significantly against USD in mid-to-long term due to a pending revaluation bound to happen soon.”. Forex refers to currency trading and currency pairs. This will erode the profit potential even for short-term trading.. "Utah Division of Securities identifies Top Ten Investment Alerts for 2011." Newsweek. 1 United States dollar = 1,457.0000 Iraqi dinar, 1 Iraqi dinar = 0.000686 United States dollar Don't get overcharged when you send money abroad. 50 000 iraqi dinar unciculated dinar news 50 dinars currency notes uae dirham aed to iraqi dinar iqd dinar news dinar guru iraqi revaluation. After this “investment,” you wait and watch, expecting the IQD to rise against the USD. Just prior to these, the IQD/USD exchange rate was around 1,270 (April 2007), and as of Aug. 2020, it is around 1,190—a positive return of around 6.5%.  Trends further down the line likely depends on the current and future developments in the region. The peg was eventually changed to the US. Even if it stays as one nation, it will still take a good long time for the economy to recover. Have a confidential tip for our reporters? Shafaq News / The Central Bank of Iraq announced that the foreign currency exchange rate will be adjusted to 145 thousand dinars for every 100 dollars. The country of Iraq was formed out of the ruins of the Ottoman Empire after World War I. Accessed Aug. 2, 2020. Iraqi Dinar Value Today Wednesday, 20 January 2021. Accessed Aug. 2, 2020. The Iraqi Dinar is the currency in Iraq (IQ, IRQ). XE. Civil war, regional fights, and western countries staying away are major concerns of current Iraq, with the extreme possibility of the country splitting into three separate regions. If that happens, the payday may never come for investors holding the Iraqi dinar and waiting for value appreciation. In addition, trading forex currencies is always risky, as external factors at international levels are difficult to control or predict. You purchase ‘x’ amount of Iraqi dinar (IQD) by paying ‘y’ amount of U.S. dollars (USD). It mentioned the International Compact with Iraq, which was interpreted in multiple ways and led to further speculation in the Iraqi dinar currency trading. In terms of longer-term opportunities, forex trading in general comes with a few challenges: How Iraq, its economy, and hence the forex rate develop over the long term, is a long-term uncertain bet. The currency abbreviation for the United Arab Emirates dirham is the AED. However, this is misleading. Redenomination is done in case of high inflation levels by old high-value notes being made equal to new small value notes (e.g., 1,000 old dinars = 1 new dinar). Supporters of Iraqi dinar Investment are reported to be confusing two economic terms: Revaluation and Redenomination. The Iraqi dinar is the currency of Iraq and can be exchanged for U.S. dollars. Backed by the oil reserves, Iraq has the potential to spring back and establish itself as a stable economy. Similar to Iraqi dinar, similar rumors are reported for Vietnamese dong and, most recently, the Egyptian pound. , The reason why high-frequency trading shops do not trade the currency is that the IQD/USD forex trading market is virtually non-existent. Demonstrators at a rally at Tahrir Square at the end of October bemoaned corrupt politicians, daily power cuts, dilapidated hospitals, crumbling roads and a lack of jobs, and urged the government to ignore OPEC output cuts. 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