The Iraqi dinar (IQD) revaluation rumor has been around for lots of years and continues to attract a substantial number of believers. Scores of people have bought Iraqi dinars from fast-talking promoters and online dinar money dealers based on the firm belief that they will make windfall profits reportedly as much as 1,000 times their original investment when the money is revalued. If you want to know more about it, then you can search Dinar Inc. on web.
The Iraqi dinar was trading in July 2014 at a rate of about 1,200 per United States dollar, so a 1,000-fold revaluation would see the exchange rate at 1.2 per U.S. dollar. So what are the odds of that revaluation actually happening? Probably about the same as winning the Powerball lottery, which is to say virtually nil? Before you plunk down your hard-earned dollars for the money equivalent of moose pasture, here are top reasons why you ought to not invest in the Iraqi dinar.
– Iraq is falling apart
– The economy is struggling
– Iraqi dinars do not trade on global foreign exchange markets
– Iraqi dinars can be redeemed only in Iraq
– Several U.S. states have warned about Iraqi dinar scams
– Dinar money brokers may not be legitimate
– Great deal of money already in circulation
– Inflation differentials
– Devaluation more likely than revaluation