The Revaluation Of The Iraqi Dinar
The number of individuals who are investing in Iraqi Dinar is still on the rise. It is even expected that for the next two years, Dinar will have millions of foreign investors worldwide. But what keeps the number in constant rise? Why does everyone seem to want lots of Dinar as many as they could? Why would they want that?
The answer is simple. The revaluation of the Iraqi Dinar. So, what is revaluation in the first place? Well, revaluation, in a practical sense, is the rising of the value of a currency of a country. In other words, a revaluation of Iraq’s money will give high profits to those individuals who have purchased Dinar. How? Simply by purchasing Iraq money as earlier as possible and wait for the next revaluation of the currency. At present, it would only cost you $0.85 to get 1000 Iraq Dinar and if there will be a revaluation, then it could mean that you can earn $1000 if the exchange rate turns out to be 1 Iraq Dinar for 1 USD.
Financial experts and economists all over the world are stating that the economy of Iraq will rise and stand back and revaluation is much expected in the next years to come. These experts felt that the economy of Iraq will bounce back and gain power by the year 2013. What led these experts to these assumptions? It’s the slow yet constant increase of the value of the Iraq’s currency. There even came a time when 1,000,000 Iraq Dinar is equivalent to $3M. A certain fact that happened before the time of the war that it had.
Another factor that keeps financial experts and economists positive in the revaluation of the said currency is the country’s reserves of crude oil. As a matter of fact, there are still lots of areas which are not yet geographically discovered and explored but with the use of high-tech seismic techniques, these areas will be totally explored and may turn out to be another assets for the country. At present, the country has a minimum of 115 billion barrels of oil reserves based on a survey but according to its official government, the country still has more and could be one of the largest crude oil reserves in the globe.
With these factors considered, financial analysts are very optimistic that one million Dinar will have an equivalent of 260,000 USD. And since the year 2003, the economy of Iraq has shown a significant and constant increase in its conversion and natural reserves. These could definitely turn for an increase of the value of the country’s currency.
Now, the number of individuals who got hooked in accumulating Dinar is in rapid increase. Even some of the big names of the US market industry have invested in this currency. The revaluation may take some years but for some investors and businessmen, this is what they have waited for. If they can wait for ten years, then there will be no reason for them to wait for another three years.
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