Updated on January 3, 2015
Iraqi Dinar or IQD, is printed by the Central Bank of Iraq. If you want to know the iraqi dinar exchange rate the best place is cbi.iq, their official site. The revaluation of the Dinar may or may not happen the way people are expecting it to. I often get messages like, “Where Do You Buy Dinar From?” Here you go – Iraqi Dinar buyers guide.
The Iraq Central Bank puts out press releases on a weekly basis. You should check them out and convert them for free. The Iraqi Dinar is not an internationally traded currency yet, it’s purely speculation that the dinar will revalue to a rate of $3.71 per dinar, this seems outlandish. Iraqi dinars are really not worth that much right now, when Iraq gets things in order, their currency should appreciate, not automatically reset.
I don’t suggest you run and try to do a currency exchange using the dinar, they simply are not using it yet at places like Wells Fargo, Bank of America and Chase bank, please be patient. Wait until they delete the zeros of the Iraqi currency. I’m not expecting anything for several years.
The middle east has a lot of problems right now, Iraq needs help restructuring. The dinar currency is not going anywhere so don’t worry. Keep checking CBI for dinar news, which seems more frequently now than in 2013.
It’s been said that Iraq is out of Chapter 7 and into Chapter 6, this means they are getting closer to having an internationally trade-able currency. The dinar revaluation assumes the dinar will go back to the rate it was in 1990, before Saddam invaded Kuwait. Don’t spend too much money on dinar, just spend whatever you can afford to lose OK? Be smart about this investment. When the RV happens and the IQD becomes traded just go to your bank with your dinar and exchange it there. You can check out dinar recaps, dinar guru, dinar daddy and even dinar vets if you want to, it’s good to hear from all sides. When the world currency revaluation happens you need to understand it from every angle. If you listen to dinar calls you might find interesting information, or disinformation depending on who is speaking.
Check out the news today to see if anything happened, why wait for a two hour call when you can do it yourself? Some think this is a scam, if it is, they got a lot of suckers, this would probably go down as one of the greatest scams of all time.
Lower down you should see a video that I posted in May of 2014. The purpose of the video is to educate everyone that it is not a good idea to keep listening to the dinar gurus who claim each week that a revaluation will occur. I go into detail about how when one currency goes down, another goes up. All of the folks who believe they will get rich overnight are mistaken, yes, Iraq is a very resource rich country, however, there is also something seldom mentioned. When the currencies are revalued based on assets, the US Dollar will be devalued downwards between 30 and 50 percent, so in reality, Iraq’s currency will produce a gain of 30 to 50% right?
It doesn’t make sense that you can get a 40,000% increase on one currency when the other only is depreciated by 30%-50%. Simple mathematics and common sense must prevail. Unfortunately, the idea of get rich quick has many people around the world tuned to their phone or computers for daily or weekly dinar calls. I do not listen to calls for information, as they are, in and of themselves, misleading, or disinformation as I prefer to call it. You can listen to all the dinar calls or IQD calls you want, but in the end, all you have is false hope, hopium, and you keep coming back for a fix each week.
IQD to USD is the conversion you would use to figure out how much 1 dinar is worth in US dollars. Another way to say is here IQD exchange rates
dinar revaluation has been expected for sometime, more details are located here: http://globalcurrencyreset.net/iraqi-dinar-revaluation/ The dinar value is low and many feed this is a scam, a Dinar scam. The rv or revaluation has been expected since at least 2011 according to major online dinar sites. Dinar calls are listened to by many people all around the world, and they may not be aware that they are being misled. The news today in Iraq is posted in our breaking news page: http://globalcurrencyreset.net/breaking-news/
revalue update are posted at the link above, I call it the breaking news page.
You can buy Iraqi dinar online with a credit card. Some people think that once the currency becomes internationally traded that they can just jump in their car and head off to their nearest bank. Well, it is not going to be that easy. Remember, the banks, even today, still need to order currency from their distribution center. A bank obtains its coins and money from Brinks typically, so when the dinar goes live you still will have to wait to buy it at a local bank. You might have been able to go to Chase Bank back a few years ago when they sold it, now almost no banks have it. Ebay is a great place to check out if you are interested in making a purchase at the best possible price. I don’t recommend you buy dinar on reserve as there can be a lot of problems with non delivery if an rv takes place. Dinar reserves are a scam in and of themselves. See this post about dinar scams. I tended to use a credit card to buy dinar, it just worked so much easier for me.
For obvious reason, I gave up dinar, and focused on gold and silver. For the current value dinar keep checking online for sites like XE.com to change. No one knows for sure the future of Iraqi Dinar will be.
Thanks for reading my article on the Iraqi Dinar, I welcome your feedback, check out my site dinarrvnews.net