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What Would be the Future of Iraqi Dinar?

When we look few years back, a decision was taken by the government of Iraq and the Iraqi dinar was announced to be redenominated. But due to some reasons, the government could not implement this decision and now after almost four years the decision is still pending. However, this announcement made a good impact on the dinar investors and Iraqi people and they started investing in it. The People and investors are still waiting for the implementation of the announcement about the revaluation of Iraqi dinar. The government is also struggling to make decisions for the dinar, the government decided to lay this issue in front of the IMF, but we have seen that there is still no decision made for the Iraqi dinar revaluation.

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This country has the second largest oil reserves in the world. This is the main reason for the investment in Iraqi dinar. What would happen if the revaluation takes place? According to some dinar experts, the position of the country would not get better because any country could revaluate its currency only when its position would be too bad. But the inflation rate would be too much high and the locals could become under a lot of stress. Although, there is not a very high chance, that the currency would get equaled to the US dollar. But, there would be a handsome profit for the investors. Because, when we look back at the history of Iraqi dinar, then it would be interesting to see that this currency has a strong background. This currency revalued in the past and had a very strong position in the international currency market.

Iraq is under a lot of debt, there are many Iraqi people who are managing the business in buying and selling of Iraqi dinar. They know that the country is under a lot of foreign debt. They have to pay it off this debt in any conditions. Iraq will be able to pay off its debt that it had taken from Kuwait. May be the government is trying to pay off its debt and then they will think about their currency revaluation. These are all just guesses and predictions. But one thing is for sure, the debts are rising on daily bases and they would not be forgiven. Iraq must pay them off in any condition.

Now the recent attack on Mosul by ISIS disturbed the whole process of revaluation of Iraqi dinar. But most of the economists say, when the law and order situation gets better in the country then the currency will be revaluate very soon.

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Why US Banks are Encouraging People in Buy and Sell Iraqi Dinar?

The US banks are encouraging people to participate in Iraqi dinar currency. But, why? The Dinar revaluation postponed by the finance committee of Iraq, but the US banks started motivating the people to sell their Iraqi dinars to them. Why these banks are purchasing these useless papers from their customers by offering better price on the return of these Iraqi dinars? If Iraqi dinars are just useless papers.

Its answer is very simple, the Iraqi dinars are not useless papers and the US banks realized the facts of the Iraqi economy and the future of the Iraqi dinar.

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The revaluation of the Iraqi dinar is postponed till the end of 2014. But some of the people are talking about the cancellation of the Iraqi Dinar revaluation. I don’t think that how Iraqi dinar will not be revalued and why it can’t regain its value back in the global currency market, when most of the things are going in the favor of the Iraqi Dinar revaluation. The Iraqi Dinar revaluation was just delayed due to preparation of general elections or the preparation of the budget is the reason. But, the government of Iraq and the central bank of Iraq are now paying much attention to the Dinar revaluation process. Here are following some of the important factors that lead to the revaluation of the Iraqi dinar.

Iraq is now trying to get the membership of world trade organization as soon as possible. After this important membership, the Iraqi dinar will be traded as an international currency in the world without any restriction and the investors from all around the world would be able to buy and sell Iraqi dinars in their home country. They will not have to go to Iraq to exchange the Iraqi Dinar currency. According to some resources, the central bank of Iraq would stop selling the US dollars in the auction very soon, because it is causing money laundering in the country. Iraq will start international trade with Iraqi dinars very soon and it doesn’t need the US dollars anymore. If Iraq need to start the trade with its home currency then Iraq will have to revalue its currency as soon as possible.

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Iraqi dinar notes bearing the image of ousted Iraqi leader Saddam Hussein are counted at a street side currency exchange 06 October 2003 in Baghdad. The new Iraqi currency will be available on the market 15 October 2003. AFP PHOTO/Sabah ARAR (Photo credit should read SABAH ARAR/AFP via Getty Images)

All of these things show that Iraqi dinar is going to revalue very soon. Iraq will have to regain its value back in the international market. Looking of all these facts, the US banks are buying Iraqi dinars from the people to get the maximum profit with the Iraqi Dinar investment.