Sunday, June 18, 2006

Iraqi Dinar - Tulip Mania or Big Opportunity??

The new Iraqi dinar, introduced in October, is now virtually worthless: It takes 1,460 dinars to equal $1, according to Bloomberg financial news service. (

But dinar trade is thriving on the Internet people,investors, Smugglers,expats, Sheiks, Students everyone is buying Iraqi dinars from USA to Pakistan, India, Egypt, Middle East and just about everywhere

The lure: Investors remember that the Kuwaiti dinar plunged to 10 cents after Iraq invaded Kuwait. It's worth $3.39 now.

The Iraqi dinar sold for as much as $3 before the first Gulf War. And Iraq sits on the world's second-largest oil reserves, an enormous asset and they say if it could so well under a Dictator Democracy would surely do better.

As for me personally I also bought a few Iraqi Dinars from the local Al Saad Exchange in Doha, Qatar.

Dekte hai :))

related: Check the latest exchange rates at

Some people don't agree and think its is a high risk investment with a poor outlook.