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Author Topic: Iraqi Dinar - an unbelievable earning opportunity?  (Read 1472 times)
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« on: November 20, 2006, 12:19:50 AM »

Hi,

Just wondered if anyone is a guru in the area of currency here. My father-in-law just introduced me to this mydinar.net website where it's promoting the buying of Iraqi Dinar as it is now very low in value due the the war. However, since Iraq is in the process of reconstruction and it's sitting on pile of black gold, the possibility of it coming back to the value which it is used to is pretty certain.

The ex rate used to be 1 Iraqi Dinar to USD$3.20 (SGD$5.50).
Now it is at SGD$0.00107156 (from XE.com)

This MLM company allows people to buy DNR41,800 at S$300 (Rate is 0.00717 which is seven times higher than current rate). Since the rate is so high, I don't think it's a worthwhile buy from this company but it will definitely deliver to you as I have seen the sample from my father-in-law (he already bought one).

However, I have one question which I have no answer for and was hoping someone could help.
Will the currency (physical dollar) remain the same, or will the Bank in Iraq issue new notes when the currency value is restored?

Anybody from the financial sector that can help?
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