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Friday, May 27, 2011

What about the Iraqi Dinar?

Cramer from CNBC gave many reason to buy the dinar.
    Millions of investors have bought into Iraq's post-Saddam currency, the dinar (currency code: IRD). While some investors are critical of the dinar's success, others are watching with a hopeful eye toward the Middle-East. The fact that oil is Iraq's mainstay makes it promising since the rest of the world needs it. The whole supply and demand thing. As of now, the dinar has roughly the same value as North Korea's currency. The only difference is that Iraq is actually moving forward while North Korea is just...well, North Korea. So what are the pro's and con's of investing in the dinar? Well let's start with the con's. If Iraq does not recover and flops then the money will remain worthless as it is now. The only loss will be the fees spent on the purchase of the currency, since the dinar can be sold back at current value. Overall it seems a safe investment, but that's a matter of opinion. The pros far outweigh the cons as far as those who bought it are concerned. The 1,000 dinar will cost roughly 0.85(USD) cents. 1 dinar is .0008(USD) cents. Some investors view this as a an obvious smart investment. Some, on the other hand are skeptical. Whether or not its value goes up, is remained to be seen, but if it does it will make some happy investors.    

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