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Investing in Iraqi Dinar: Promising Opportunities and Potential Pitfalls

This article discusses what the educated investor should know about investing in the Iraqi dinar. Aside from talking about general points about the practice of buying currency, the piece outlines specific advice on how to recognize counterfeit dinar and other investment frauds.

Following the removal of Saddam Hussein from power and the recent opening of the Iraqi economy to the global free market, making an investment in Iraqi dinars is simple and easy.   Investor can now buy and sell dinar from anywhere in the world, especially if you are in touch with a reputable dealer who can provide you with authentic bank notes.  However, before you make an investment in the Iraqi dinars you should be aware of the following:


  • The most important point that investors should understand when purchasing Iraqi dinar is that it is a long-term investment. The value of the dinar depends on the economic and political condition of the country, as well as the overall state of the global economy.
  • Recent indicators show progressive improvements in security and trade in Iraq.  Also, the world-wide financial climate has stabilized and is steadily recovering from the financial crisis of 2008.  
  • Large dividends on buying currency can take months or even years to fully appreciate. Therefore, expecting quick returns on the investment right away, as with any prudent investment plan, is not recommended.
  • The value of the dinar is showing a gradual increase; however, this is no clear indication that the worth of the currency will necessarily skyrocket in the near future.  Past instances of gains in other monies, such as the German mark and Kuwaiti dinar, have increased speculation into Iraqi dinar by many investors.
  • Make sure that you thoroughly analyze your financial portfolio before buying Iraqi dinar or making any other important investment decisions.  Seeking the advice of professional financial planners can be helpful, even for seasoned investors.  Ensure that your strategies are well-balanced, and never place all of your capital into one investment plan.   


Another crucial aspect to investing in currency is ensuring authenticity.  Unfortunately, counterfeit schemes and fraudulent dealers are on the rise, preying on patrons all over the world.  The best strategy for avoiding counterfeit merchandise is working with dealers that are well-known, respected, and properly licensed. Also, it is important that you learn how to personally confirm that the money you buy is real. The security features that you should look for on the currency:

 

  • The new dinars have ultraviolet writing, which can be checked with a UV lamp.  The ultraviolent writing should show the note’s denomination value.
  • A horse head watermark is embedded on the Iraqi dinar. This should be the most prominent feature seen in the white space on the left side of the note when the money is held under a bright light.
  • At the bottom left hand corner you should see a holographic symbol with eight sides.  This symbol should change colors from green to purple when viewed in different angles.
  • The dinar should have a metallic security thread embedded within the note.
  • Every dinar has an exclusive serial number written in Arabic.

 

Legitimate currency dealers will provide purchasers with written documentation guaranteeing the authenticity of the money, but you should still educate yourself on how determine whether or not it is counterfeit.  Make sure that the trader is registered with the US treasury and has a verifiable physical address and phone number.  Be sure to learn their payment and shipment policies.  Also, ask what procedures they follow for verifying and packaging the dinars before passing them on to the investor.

 

Before making an investment into any currency, get the latest information on its current standing in the global market so that you can ensure that you are receiving a fair rate from the dealer.  It is also a good bet to inquire into the exchange deals you would receive if you wanted to sell some or all of the currency back to the dealer.  With a little homework and proper planningBusiness Management Articles, investing in the dinar can prove to be a fruitful financial opportunity.

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR


To learn more about the Iraqi dinar or get the latest Iraqi dinar exchange rate information, please contact DinarBanker.com.  Dinar Banker is a respected broker that both buys and sells Iraqi Dinar.  As a US-based company, we are registered with the Treasury Department as a certified foreign currency business and are a proud member of the Better Business Bureau.   

 



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