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Www Dinartrade Com Buy Iraqi Dinar


The value of the Iraqi dinar is unlikely to change before 2026. In March 2021, a spokesman for the Central Bank of Iraq announced that the currency would remain fixed for the next four years. Later that year, another government official confirmed that the exchange rate had been established in government budgets.




www dinartrade com buy iraqi dinar



The value of the Iraqi dinar is fixed by the Iraqi government and does not change, unless the central bank changes the exchange rate. This means that the government decrees the price for sale and purchase of the currency.


On Dec. 19, 2020, the Central Bank of Iraq devalued the dinar against the US dollar, which dropped from 1,182 dinars to 1,450 dinars per $1, due to the financial crisis that hit the country in the wake of the drop in oil prices in the global market to less than $30 a barrel, and the increase in Iraqi government spending on state employees' salaries. To secure these salaries Iraq had resorted to loans from banks and to the re-deduction of bonds to the Ministry of Finance, which amounted to more than 30 trillion dinars ($20.6 billion).


After the reconsideration of the exchange rate, a strong current emerged led by a number of politicians, most notably Sudani who called for restoring the dollar exchange rate to its previous value. Sudani had argued at the time that a devaluation of the dinar would trigger a "revolution of the hungry."


Ever since Sudani took office, the market has been witnessing a stagnation phase. Businessmen and citizens wary of the devaluation of the dinar cut their purchases of assets to avoid any future loss ensuing from the exchange rate difference.


Kadhimi's government was unable to remedy the negative implications of the dinar devaluation, in particular those affecting the poor classes. The government had allocated more than $6 billion to support vulnerable groups, but parliament reduced it to less than $1 billion.


Dagher urged the government to cut the state employees' salaries, which amount to more than 63 trillion dinars ($43 billion) and to allocate the savings made from this reduction for achieving economic development.


Many Iraqis have lost faith in their dinar currency but to some foreign speculators, it promises big profits. The contrast underlines the uncertainties of investing in Iraq as the country recovers from years of war and economic sanctions. \n The logic of the dinar bulls is simple. Iraq\'s oil exports rose to 2.6 million barrels per day in September, their highest level in three decades; the country aims to hit 6 million bpd by 2017, which would put it close to Saudi Arabia\'s current level. \n Even if unstable politics, militant violence and bureaucratic inefficiency prevent that target from being hit, Iraq still seems to be on the threshold of an oil boom that will transform its finances. \n Inflows of new oil revenue could give the country big external surpluses and push state finances deep into the black by late this decade - the classic recipe for a strong currency. \n \"As far as our investors are concerned, when they buy Iraqi dinars they do know it is a long-term investment. You know it takes time for a country to rebuild itself,\" said Hassnain Ali Agha, president of Dinar Trade, a U.S. dealer of exotic currencies. \n Because the dinar is not freely traded by banks outside Iraq, online dealers of banknotes such as Dinar Trade are the only way that most foreigners can invest in the currency. The Las Vegas-based company says it sells as much as hundreds of thousands of dollars worth of dinars daily, shipping dinar notes to thousands of customers in the United States and elsewhere. \n Agha said that because of optimism about Iraq\'s oil wealth, there had been solid demand for dinars since his company was founded in 2004, a year after the U.S. invasion which triggered years of political violence and economic turmoil. \n Back in Baghdad, however, Iraqis themselves are not convinced. Many take what opportunities they have to change their dinars into hard currency, and conduct all but small day-to-day transactions in U.S. dollars. \n \"We have no trust in the Iraqi dinar - we feel afraid to save it. We trust the dollar more. The dollar does not go up and down, it is fixed,\" said housewife and mother-of-two Eman Saadeldine. \n Wild swings \n The dinar has endured wild swings over the past three decades. In the 1980s, one dinar bought around $3, but economic sanctions imposed on Iraq around the time of the 1991 Gulf War sent the currency into decline and stoked inflation, which the government fuelled by printing money. By late 1995, $1 bought as much as 3,000 dinars. \n After the 2003 invasion, the central bank intervened in the currency market to strengthen the dinar, using its supplies of dollars to manage the exchange rate. \n But over the last several years, even as Iraq\'s oil production has expanded, there has been none of the appreciation for which speculators have been hoping. The central bank now sells dollars in daily auctions at a fixed price of 1,166 dinars, a level barely changed since 2009. \n In fact, the dinar has recently faced downward pressure as a result of the international economic sanctions imposed on neighbouring Iran and Syria. Iraqi traders rushed to buy dollars to sell on illicitly to residents and businesses in those countries, which are hungry for hard currency. \n The dinar fell as low as 1,280 in the open market this year before Iraqi authorities reacted by allowing two state-run banks and some private lenders to sell dollars, helping push the exchange rate back to around 1,200 currently. \n Long term \n In the long term, however, Iraq\'s finances and economy may improve so dramatically that authorities feel comfortable allowing the dinar to appreciate under the pressure of flows of oil money into the country. \n The IMF expects this year\'s estimated budget surplus of just 0.2 percent of gross domestic product to balloon to 12.1 percent in 2017. The country\'s balance of trade in goods and services, in deficit as recently as 2010, is projected over the next five years to shift to a large surplus of 11.3 percent of GDP. \n Deputy central bank governor Mudher Kasim told Reuters that he expected redenomination of the dinar to go ahead in 2014 or later, by which time the amount of Iraqi currency in circulation would have increased significantly, making financial dealings in cash even harder. \n In the long term, the central bank aims to make 1 dinar equal to $1 with a combination of redenomination and appreciation, although that will take over three years because of instability in the Middle East, Kasim said: \"If not for the regional circumstances, we would proceed faster with that plan.\" \n Some analysts think the appreciation could go further. Kamal al-Basri, research director at the Iraqi Institute for Economic Reforms, an independent research body in Baghdad, said he expected the dinar to stay stable for the next three years, but that afterwards it might strengthen beyond parity against the dollar, including the effect of redenomination. \n For that to happen, Iraqi politics will have to stabilise, skill and education levels rise and the economy diversify so that it is not so heavily dependent on oil exports, he said. \n Speaking at the Baghdad currency exchange shop that he owns, Ahmed Abdul-Ridha said the dinar\'s stability in the past three years was good, but it did not indicate the long-term trend. \n \"We wish the dinar\'s value would go back to what it was like before, when it used to equal $3 in the 1970s and even in the 1980s,\" he said. \n \"I expect that day will come. Why not? What we are going through is an abnormal condition...We are an oil country.\" \n \n','categories':'present':true,'commentsLang':null,'contentTitle':null,'country':'present':false,'countryCodes':'present':true,'disqusId':'prodn2170912en','dynamicDescriptionTag':null,'exclusiveLocked':false,'facebookDataHref':null,'icon':'present':false,'id':2170912,'image':'alt':'','caption':'','largeThumbnail':' _Image/61b54dc61dca10ed575fa0eb4c9df4d0/220.jpg','primary':' _Image/61b54dc61dca10ed575fa0eb4c9df4d0/640.jpg','smallThumbnail':' _Image/61b54dc61dca10ed575fa0eb4c9df4d0/144.jpg','srcset':', _Image/61b54dc61dca10ed575fa0eb4c9df4d0/640.jpg 640w, _Image/61b54dc61dca10ed575fa0eb4c9df4d0/1024.jpg 1024w','infoMainTag':'present':false,'infoMainTagData':null,'infoMainTagUrl':null,'infoSubTag':'present':false,'infoSubTagUrl':null,'infoSubTags':null,'lockedEndTime':null,'miscImageUrl':null,'numberOfReads':74,'publishedAt':'2012-10-07T09:25:56.000Z','removeCountryNameFromTitle':true,'section':'present':false,'sectionUrl':null,'sections':null,'source':'Trade Arabia','stocks':'present':false,'teaser':'Many Iraqis have lost faith in their dinar currency but to some foreign speculators, it promises big profits. The contrast underlines the uncertainties of investing in Iraq as the country recovers from years of war and economic sanctions. The logic of ','title':'Iraq dinar is a long-term bet','updatedAt':'present':false,'url':'/news/2170912/Iraq-dinar-is-a-long-term-bet/'}; window.midata.facebookDataHref = ' -dinar-is-a-long-term-bet/'; window.midata.isArchived = true; window.midata.locale = 'ISO3Country':'','ISO3Language':'eng','country':'','displayCountry':'','displayLanguage':'English','displayName':'English','displayScript':'','displayVariant':'','extensionKeys':[],'language':'en','script':'','unicodeLocaleAttributes':[],'unicodeLocaleKeys':[],'variant':''; window.midata.sections = []; window.midata.infoSubTags = null; window.midata.infoMainTag = null; window.midata.relatedArticles = null; window.midata.isMobile = false; window.midata.locale = 'en'; (function (d, s, id) var js, fjs = d.getElementsByTagName(s)[0]; var commentsLang = "en_EN"; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.async = true; js.src = "//connect.facebook.net/" + commentsLang + "/sdk.js#xfbml=1&version=v2.9&appId=328196127322541"; fjs.parentNode.insertBefore(js, fjs); (document, 'script', 'facebook-jssdk')); $(document).ready(function () var $stickyBanner = $('.stickyBanner'); var $stickyBannerStopper = $('.mi-article'); var $stickyrStopper = $('.mi-article__comments'); var $footer = $('.mi-footer'); if ($stickyBanner) var stickyTop = $stickyBanner.offset().top; var stickOffset = 100; var stickyStopperPosition = $stickyrStopper.offset().top; $(window).scroll(function () var sidebarNews = $(".news-sidebar-mub").offset().top + $(".news-sidebar-mub").height(); var footerTop = $footer.offset().top; var generalSidebarHeight = $stickyBanner.height(); var strickySidebarHeight = $stickyBannerStopper.innerHeight(); var fixedOffsetTop = strickySidebarHeight - generalSidebarHeight; var windowTop = $(window).scrollTop(); if(windowTop >= sidebarNews) $stickyBanner.css( position:'fixed', top:stickOffset ); if(windowTop >= (strickySidebarHeight - 100)) $stickyBanner.css( position:'absolute', top: fixedOffsetTop ); else $stickyBanner.css( position:'absolute', top:'initial' ); ); ); function formatKeyValue(dirtyString) return dirtyString.replace(/["'=!+#*;^()\[\],&]/g, ""); window.article = 'archived':false,'attachments':null,'body':'\n \n \n Many Iraqis have lost faith in their dinar currency but to some foreign speculators, it promises big profits. The contrast underlines the uncertainties of investing in Iraq as the country recovers from years of war and economic sanctions. \n The logic of the dinar bulls is simple. Iraq\'s oil exports rose to 2.6 million barrels per day in September, their highest level in three decades; the country aims to hit 6 million bpd by 2017, which would put it close to Saudi Arabia\'s current level. \n Even if unstable politics, militant violence and bureaucratic inefficiency prevent that target from being hit, Iraq still seems to be on the threshold of an oil boom that will transform its finances. \n Inflows of new oil revenue could give the country big external surpluses and push state finances deep into the black by late this decade - the classic recipe for a strong currency. \n \"As far as our investors are concerned, when they buy Iraqi dinars they do know it is a long-term investment. You know it takes time for a country to rebuild itself,\" said Hassnain Ali Agha, president of Dinar Trade, a U.S. dealer of exotic currencies. \n Because the dinar is not freely traded by banks outside Iraq, online dealers of banknotes such as Dinar Trade are the only way that most foreigners can invest in the currency. The Las Vegas-based company says it sells as much as hundreds of thousands of dollars worth of dinars daily, shipping dinar notes to thousands of customers in the United States and elsewhere. \n Agha said that because of optimism about Iraq\'s oil wealth, there had been solid demand for dinars since his company was founded in 2004, a year after the U.S. invasion which triggered years of political violence and economic turmoil. \n Back in Baghdad, however, Iraqis themselves are not convinced. Many take what opportunities they have to change their dinars into hard currency, and conduct all but small day-to-day transactions in U.S. dollars. \n \"We have no trust in the Iraqi dinar - we feel afraid to save it. We trust the dollar more. The dollar does not go up and down, it is fixed,\" said housewife and mother-of-two Eman Saadeldine. \n Wild swings \n The dinar has endured wild swings over the past three decades. In the 1980s, one dinar bought around $3, but economic sanctions imposed on Iraq around the time of the 1991 Gulf War sent the currency into decline and stoked inflation, which the government fuelled by printing money. By late 1995, $1 bought as much as 3,000 dinars. \n After the 2003 invasion, the central bank intervened in the currency market to strengthen the dinar, using its supplies of dollars to manage the exchange rate. \n But over the last several years, even as Iraq\'s oil production has expanded, there has been none of the appreciation for which speculators have been hoping. The central bank now sells dollars in daily auctions at a fixed price of 1,166 dinars, a level barely changed since 2009. \n In fact, the dinar has recently faced downward pressure as a result of the international economic sanctions imposed on neighbouring Iran and Syria. Iraqi traders rushed to buy dollars to sell on illicitly to residents and businesses in those countries, which are hungry for hard currency. \n The dinar fell as low as 1,280 in the open market this year before Iraqi authorities reacted by allowing two state-run banks and some private lenders to sell dollars, helping push the exchange rate back to around 1,200 currently. \n Long term \n In the long term, however, Iraq\'s finances and economy may improve so dramatically that authorities feel comfortable allowing the dinar to appreciate under the pressure of flows of oil money into the country. \n The IMF expects this year\'s estimated budget surplus of just 0.2 percent of gross domestic product to balloon to 12.1 percent in 2017. The country\'s balance of trade in goods and services, in deficit as recently as 2010, is projected over the next five years to shift to a large surplus of 11.3 percent of GDP. \n Deputy central bank governor Mudher Kasim told Reuters that he expected redenomination of the dinar to go ahead in 2014 or later, by which time the amount of Iraqi currency in circulation would have increased significantly, making financial dealings in cash even harder. \n In the long term, the central bank aims to make 1 dinar equal to $1 with a combination of redenomination and appreciation, although that will take over three years because of instability in the Middle East, Kasim said: \"If not for the regional circumstances, we would proceed faster with that plan.\" \n Some analysts think the appreciation could go further. Kamal al-Basri, research director at the Iraqi Institute for Economic Reforms, an independent research body in Baghdad, said he expected the dinar to stay stable for the next three years, but that afterwards it might strengthen beyond parity against the dollar, including the effect of redenomination. \n For that to happen, Iraqi politics will have to stabilise, skill and education levels rise and the economy diversify so that it is not so heavily dependent on oil exports, he said. \n Speaking at the Baghdad currency exchange shop that he owns, Ahmed Abdul-Ridha said the dinar\'s stability in the past three years was good, but it did not indicate the long-term trend. \n \"We wish the dinar\'s value would go back to what it was like before, when it used to equal $3 in the 1970s and even in the 1980s,\" he said. \n \"I expect that day will come. Why not? What we are going through is an abnormal condition...We are an oil country.\" \n \n','categories':'present':true,'commentsLang':null,'contentTitle':null,'country':'present':false,'countryCodes':'present':true,'disqusId':'prodn2170912en','dynamicDescriptionTag':null,'exclusiveLocked':false,'facebookDataHref':null,'icon':'present':false,'id':2170912,'image':'alt':'','caption':'','largeThumbnail':' _Image/61b54dc61dca10ed575fa0eb4c9df4d0/220.jpg','primary':' _Image/61b54dc61dca10ed575fa0eb4c9df4d0/640.jpg','smallThumbnail':' _Image/61b54dc61dca10ed575fa0eb4c9df4d0/144.jpg','srcset':', _Image/61b54dc61dca10ed575fa0eb4c9df4d0/640.jpg 640w, _Image/61b54dc61dca10ed575fa0eb4c9df4d0/1024.jpg 1024w','infoMainTag':'present':false,'infoMainTagData':null,'infoMainTagUrl':null,'infoSubTag':'present':false,'infoSubTagUrl':null,'infoSubTags':null,'lockedEndTime':null,'miscImageUrl':null,'numberOfReads':74,'publishedAt':'2012-10-07T09:25:56.000Z','removeCountryNameFromTitle':true,'section':'present':false,'sectionUrl':null,'sections':null,'source':'Trade Arabia','stocks':'present':false,'teaser':'Many Iraqis have lost faith in their dinar currency but to some foreign speculators, it promises big profits. The contrast underlines the uncertainties of investing in Iraq as the country recovers from years of war and economic sanctions. The logic of ','title':'Iraq dinar is a long-term bet','updatedAt':'present':false,'url':'/news/2170912/Iraq-dinar-is-a-long-term-bet/'; var articleTitle = 'Iraq dinar is a long-term bet'; var articleTitleValid = formatKeyValue(articleTitle); var signal = "User": "isLoggedIn":false, "Gender": null, // Male "Age": null, //"25", "UserId": '4f758ce8-9a8f-4b8e-9411-4650816f9bfe', "Country": 'US' , "Content": "ArticleId": "2170912", "ArticleTitle": null, "ArticleAuthorName": 'Trade Arabia', "ArticlePublishDate": '2012-25-07 09:25:56', "ContentType": "Page", "Keywords": null, "Topic":'News', "sTopic": localStorage.getItem("sTopic"), "Domain": 'English', //English , mubasher "Edition": 'sa', "Lang": 'en', "Platform": "Web" , "Page": "ChannelLevel1": "Article", "Event": null, , signal.Content.ArticleTitle = articleTitleValid;Iraq dinar is a long-term bet07 October 2012 09:25 AMMany Iraqis have lost faith in their dinar currency but to some foreign speculators, it promises big profits. The contrast underlines the uncertainties of investing in Iraq as the country recovers from years of war and economic sanctions. 041b061a72


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