Currency unit consisting of 1,000 fils or 20 dirhams. When officially introduced at the end of the British mandate (1932), the Iraqi dinar was equal to, and was linked to, the British pound sterling, which at that time was equal to US$4.86.
1932–1949
1949–1971
Iraqi dinar (ID) equaled US$4.86 between 1932 and 1949 and after devaluation in 1949, equaled US$2.80 between 1949 and 1971.
1959–1967
Iraq officially uncoupled the Iraqi Dinar from the pound sterling as a gesture of independence in 1959, but the Iraqi dinar remained at parity with the pound until the British unit of currency was again devalued in 1967.
1971
One Iraqi dinar remained equal to US$2.80 until December 1971, when major realignments of world currencies began.
1973
Upon the devaluation of the United States dollar in 1973, the Iraqi Dinar appreciated to US$3.39.
1980
It remained at this level until the outbreak of the Iran-Iraq War in 1980.
1982
In 1982 Iraq devalued the dinar by 5 percent, to a value equal to US$3.22, and sustained this official exchange rate without additional devaluation despite mounting debt.
1988
In early 1988, the official dinar-dollar exchange rate was still Iraqi dinar (ID)1 to US$3.22; however, with estimates of the nation’s inflation rate ranging from 25 percent to 50 percent per year in 1985 and 1986, the dinar’s real transaction value, or black market exchange rate, was far lower-only about half the 1986 official rate.
1986–2003
1986–2003 between .33 cents to 1.32 to a dollar.
2001
Oil-production: 2.452 million bbl/day (2001 est.); note — production was disrupted as a result of the March-April 2003 war (2001 est.)
2002
GDP: purchasing power parity — $58 billion (2002 est.)
2002
Exports–partners:US 40.9%, Canada 8.2%, France 8.2%, Jordan 7.5%, Netherlands 6.4%, Italy 5.4%, Morocco 4.7%, Spain 4.4% (2002)
2003
In october 2003, the official Dinar-dollar exchange rate was ID1 to US$0.00027.
2004–2005
August 2004 till 2005, the official dinar-dollar exchange rate is ID1 to US$0.00068. Population: 25,374,691 (July 2004 est.)
2006
As of Jan 1st 2006, the official Iraqi dinar-US dollar exchange rate is ID1 to US$$0.00067.
WARNING.......TOTAL FRAUD ALERT
Do Not Trust Anything This Liar Says, He Is Not To Be Trusted and Has Screwed Me Over On Commissions Owed For Over a Year. I Have All Documentation, So Do Not Make Purchase From This Dinar Bank Site Or Anything This Fraudster Offers. I Gave Him A Whole Year To Make Good, And Nothing But Excuses and LIES!
Marshall Wayne Donnerbauer
Positive Changes in Iraq
Upon Saddam Hussein’s deposition in 2003, Iraq has undergone political and economic changes. Many believe that the re-building of Iraq’s infrastructure will stabilize Iraq socially, politically, and economically. With the new government establishing a new monetary system that encourages foreign investment, and the central bank of Iraq awarding foreign licenses, many also believe that the value of the new Iraqi Dinar banknote is poised to escalate.
More Treasury Bills on the Way
The government of Iraq will issue more Treasury bills to the secondary market. For the first time in years, the central bank auctioned Treasury bills in July. Thus far, local banks have bought 900 billion Iraqi dinars ($628 million) worth of three-month bills with coupons ranging between 2.5 percent and 6.8 percent. To improve Iraq’s local currency, the dinar against the dollar, Iraq’s central bank also plans to build up its foreign-currency reserves.
Creating viable domestic capital markets will start the process of trimming the massive pre-war debt. Iraq’s path to debt reduction along with the generosity of the Paris Club by forgiving 80% of Iraq’s debt is good news for the Iraqi economy. Iraq’s growth-oriented policy, along with Iraq’s prospects of economic stability makes investing in the dinar potentially lucrative.
The Central Bank of Iraq
For the first time in decades, the central bank of Iraq awarded foreign bank licenses to the following banks: HSBC, Standard Chartered, National Bank of Kuwait, Iranian National Bank, Commercial Housing bank, and Bahraini Arab Banking Institute. The Bahraini Arab Banking Institute is listed on the Bahrain, Kuwait, and Paris stock exchanges, and its major shareholders include the Kuwait Investment Authority, the central bank of Libya, and the Abu Dhabi Investment Authority. Granting foreign licenses and liberalizing interest rates will create a vibrant free-market economy. Iraq’s re-invigorated banking policies will positively effect the value of the dinar in the near future.
The Potential of the Dinar
Prior to United Nations sanctions, the Iraqi dinar traded at 3.35 per U.S. dollar, and prior to the war in Iraq, the Iraqi dinar traded at .33 U.S. Dollars. During major combat operations, the Iraqi dinar declined to an all time low. However, after major combat operations, the value of the dinar increased 25%. Countries such as Germany (post WWII) and Kuwait (post Iraqi invasion) experienced a similar devaluation of their currency, but both countries recovered. Today, the dinar has increased from 3,500 against the dollar during the U.S. led invasion last year to 1,400 against the U.S. dollar. Imagine the growth potential of the Iraqi dinar once Iraq recovers and begins to enjoy the potential revenue of a country rich in oil and other natural resources.
The New Iraqi Dinar Banknote
Today, De La Rue, the world’s largest commercial security printer and paper maker based in Great Britain, prints the new Iraqi dinar banknote. The new Iraqi dinar banknote has various security features making the dinar very difficult to counterfeit, and the dinar banknote is now available in 50, 250, 1000, 5000, 10000, and 25000 bills. With the re-building of Iraq’s infrastructure and with the prospect of stability at hand, the Iraqi dinar is quickly becoming a very attractive investment opportunity.
With the Iraqi constitution voted in with an overwhelming 78% win with millions voting, the stage is set for an economic boom in Iraq. Combined with democracy taking hold, Iraq has just disclosed that they were sandbagging Saddam by not disclosing a new oil reserve which will put Iraq in as the number one in the world for oil. Combined with national debt of billions being forgiven, Iraq could be the investment move of history.
Order a sample affiliate package for only $30.00 and receive $1,925.00 in dinar currency which will someday be worth several thousand dollars, it is only a matter of when, not if. In my experience, this is as low risk as any investment comes, as well as offering the small investor the opportunity to make millions with only a few hundred dollars. Please visit
http://Iraqi-Investments.com to learn more.
PURCHASE NOW http://Free-Dinar.com
"More professional investors are buying. commodities, foreign currencies and equities, creating tension in the stock market."
Wall Street Journal 11/24/04
Iraq has been granted 32 billion dollars in debt relief. "The Paris Club agreement represents a major international contribution to Iraq's continued political and economic reconstruction. I encourage (other) nations to agree to comparable debt reduction for Iraq." George W. Bush 11/22/04
Opening International Trade has increased the wages to Iraq's 25 million people who have pent-up demand for goods and services. An estimated $33 billion has already been collected for rebuilding Iraq. Coca-Cola, Chevron, Texaco, and more are investing! "...wages are triple those paid elsewhere in the Middle East."
Wall Street Journal 11/24/04
More Iraqi's are holding on to the dinar as a savings vehicle after years of hoarding dollars.
The limited circulation of the new currency as compared to the open-ended printing of old notes by Saddam's political leadership.
"Iraq has a stable currency; value of the new dinar has already risen 25 percent."
US Department of State ? Bureau of Public Affairs 06/30/04
Iraq has the World's largest natural gas reserve and is the world's 2nd largest oil producer.
"No one doubts Iraq's potential for enormous production. Only 17 of its 80 known oil fields have been developed, and the costs of new production are among the world's lowest."
"A senior Iraqi leader evoked the eternal dream that Iraq could produce 10 million barrels a day."
The New York Times 05/03/05
The Kuwait currency devalued by the same margin in the '90's has completely rebounded.
"If post-war Kuwait is any example: A Kuwaiti dinar was valued at about a dime after the war. Each now brings in $3.40 ...If (Iraq Dinar) jumps to a few cents, (investors) can start paying off mortgages." Stars and Stripes Mid-east ed., 10/15/04
Following World War II, it took three years to institute a new currency in West Germany. Iraq has taken only six months.
Oil revenues and existing assets from the Saddam dictatorship are being pumped into government operations and reconstruction projects such as: paying 350,000 teachers (rehabilitating 2,200 schools), 100,000 doctors and healthcare workers,(30 times more funds over pre-war levels, restoring 240 hospitals), upgrading electrical grids, water, sewage, irrigation systems, and expanding oil output.
Several dozens of countries are contributing financially to the renewal of Iraq, and 19 countries are providing personnel for operations in Iraq.
The new Iraqi Government and the US treasury are working together to reinstate a strong decentralized banking system in Iraq.
Iraq has vast areas of fertile land and the most precious commodity of all in the Middle East, water. With the rejuvenation of the Tigris and Euphrates River, Iraq's agriculture sector may once again be the Breadbasket of the Middle East.
Iraq holds the second largest oil reserve in the world, with 95 percent of Iraq?s revenue coming from exported oil. Combine that with the continued rise of oil prices and you have the makings of a strong economic comeback. The Iraqi Dinar has also managed to appreciate in value from it?s all time low of 3000 Dinar to one US dollar to the recent level of between 1500 and 1400 Dinar to one US dollar. Before the 1991 war it was 1 Dinar to 3 US dollar. Keep in mind that the new Dinar has only been in existence since October 15, 2003. The monetary system established by the new government encourages foreign investment, a key to developing a strong economy.
A new stock market opened recently with over record trading volumes pushing stock prices drastically upwards for the 27 firms listed, with over 2 billion shares changing hands in only 6 trading sessions. Real estate in Iraq is booming, largely because of the severely depressed prices due to the restrictive policies of the old regime. With money flowing into Iraq, citizens are now buying houses in neighborhoods generally reserved for government officials.
Our advice is to educate yourself as much as possible. Get your news reports from multiple media outlets and contrasting viewpoints. Only then can you begin to see the situation for what it is, a great, affordable opportunity for investment.
Things you should know about the New Iraq Dinar.
-You can buy 1 Million Dinar for $1000 -That's 1/10th of a penny for 1 Dinar
If the dinar raises to .01 penny for 1 Dinar you just made $10,000
If the dinar raises to .32 (Pre war Value) you just made $320,000
If the dinar raises to 1 for 1 you just made 1 Million for a $1000 investment.
WHAT is Iraq Dinar, touted by some as the "next Microsoft of our lifetime" and "Like a sure-bet Penny Stock"? It is the NEW Currency issued following the fall of the Saddam regime in 2003. Prior to Gulf War I, Kuwait's Dinar was traded at a rate of $3.55 (US Dollars) to 1 Kuwait Dinar. When Saddam invaded, the value dropped to $.06 (six pennies) to 1 Kuwait Dinar. Those who KNEW to speculate and purchased, profited hugely when the price increased a year later to its Pre-war value! Iraq Dinar traded between $.33 to $3.35 per 1 Dinar prior to the second Gulf War. You can see the possibilities. Even if it moves to 1 penny, you score a profit!! In a speech, G.W. Bush stated "We also want to leave the Iraqi people with a strong Dinar".
Before Saddam came to power the Dinar was worth $3.30 PER DINAR.
That is a typical value for some oil producing countries in that region. For example Kuwait's currency is valued between $3 - $4 a piece now. After Saddam came to power, lost 2 wars (Iran & Kuwait) and years of UN Sanctions drove the Dinar down to it's lowest exchange rate ever. Right before Operation Freedom began, the official international exchange rate for the Dinar was $0.31 PER DINAR.
Right now you can buy 1 Million Dinars for less than $1000.00 US.
That is less than $.001 PER DINAR! Speculators have been buying the New Iraqi Dinar up in the Billions. Even if the Dinar only returns to be worth $0.01 PER DINAR, that 1 Million Dinar would be worth $10,000.00 US. Many think it is likely to go much higher than even their old exchange rate once Iraq gets their oil production back up to full capacity.
There is no international exchange rate set for the New Iraqi Dinar yet, that is why you cannot go to a bank right now and get it. It is also what makes this opportunity possible! The only way you can get their new currency is to be in Iraq. We bring it in legally through connections with money brokers we have there. If Iraq's new government continues to progress and stay on their timetable, the international exchange rate should get set in 2006. Once the international exchange rate is set, you should be able to take your New Iraqi Dinar to many international banks or money exchangers here in the US and exchange it as you could do before.
As Iraq regains its economy and its people celebrate its recovery and prosperity, you will be able to celebrate with them as you will reap the rewards right along with them!
We know you will want to get more information before buying New Iraqi Dinar. We recommend you start with our FAQ page and then go through our Links section as you will find some great information from unbiased, credible sources about why you should buy the New Iraqi Dinar. You will also find links to positive progress and good news on Iraq that you will not hear about through the mainstream media.
Frequently Asked Questions
1. I don't understand why the cost of 1 million Dinars in 25,000 notes is priced differently than 1 million Dinars in other denominations. Is it now or will it be more difficult to exchange certain denominations of Dinar?
The price differences are because of a few factors. Firstly, because of the differences in the amount of notes to make up 1 Million Dinar. 1 Million Dinar in the 25,000 Notes is the most efficient method - it only takes 40 notes. Next we move to the 5,000 Dinar note. It takes 200 notes to make a million. That is 5 times as many notes, which add to the cost of transport and then shipping to import, which is passed on to you. Then we add verification and inspection of the notes. They take 5 times as long to go through and verify their authenticity.
Finally the last factor is availability. The lower denominations are becoming more difficult to obtain. Especially the 1,000 Notes. We are of course only speaking of the uncirculated new notes. I can easily get circulated notes, but you don't want them for this type of investment.
As far as how this will effect exchangeability, it will not. The only thing they factor at exchange is what quantity you can exchange at once. If you only have 25,000 Dinar notes, you can only exchange your Dinar in increments of 25,000, so if you only want to change in 30,000, you can't - you have to change in 50,000 Dinar (2 x 25,000). Whereas with the 5,000 or 1,000 you get the added flexibility of smaller increments.
2. How fast will the value of the Dinar go up? Why won't it just stay at the price it is now? How long would I need to hold onto my New Iraqi Dinar?
The last official international exchange rate before Operation Iraqi Freedom began was $0.31 PER DINAR. When the new currency was introduced, the exchange was 1 for 1 for the old Saddam Dinars, and 150 for 1 of the Swiss Dinars, as explained in this article here. So after the New Iraqi Dinar was introduced, people in Iraq had the same amount of Dinar than they did before the new currency came out. Today the Dinar is worth about $.001 PER DINAR. What that means is that the average Iraqi went from having a Dinar that was reasonably valued to poor. For example, let's say you had 50,000 in the old Dinars when it was worth $0.31 PER DINAR. So you trade in your 50,000 Dinars for the new Iraqi Dinar so you've go the same amount of Dinar. Now your 50,000 Dinars used to be worth $15,500 Dollars US, except because the value is so low now, your Dinar is now worth $50 US. This is one of the reasons we expect the Dinar to return to it's previous official value sooner than later as it will restore the buying power of all the Dinar the Iraqi's have. How soon? That is what we've been watching, for what the official international exchange rate will be set at. All current economic reports point to early 2006. While it may be easy for most of us here to buy Millions of Dinar, it is not the case for most people in Iraq.
How long will you need to hold onto your Dinar? Well, if the exchange rate returns to $0.31 PER DINAR, you could certainly exchange it all then. There are many who plan on exchanging a small portion of their Dinar then, and then holding the rest of it and watching how Iraq's economy and oil production continues to progress. If you are looking to exchange your Dinar at $1 PER DINAR vallue or higher, you should expect to hold onto it for a minimum of 10 years, as that is how long it will take to substantially improve their oil production facilities and that is if oil prices stay where they are. Of course, the higher gas prices are, the more that will improve the value of Iraq's oil and gas holdings and therefore the value of the New Iraqi Dinar.
3. Where will I be able to exchange my Dinar?
Once the international exchange rate is set you will be able to go to any major international bank or money exchanger to exchange your Dinars for Dollars as it was before. Banks and money changers typically charge a 4% fee for the conversion.
4. What if Iraq decides to change their currency again?
Anything can happen, but this is very unlikely and we have not seen any indications by anyone in Iraq that they are unhappy for any reason with their new currency. In fact, the new currency has brought more stability and now increased value for them, so (as you will find in the news stories on the links page) many people who used to hoard Dollars for their value, have traded in their Dollars for Dinar and are holding Dinar. It has unified Iraq under one currency. You will also find in the news and links that the many people there are very proud of the new currency! It reflects a lot of great history and strength in Iraq and avoids any religious or political images. Having the new currency brought them a stability and peace of mind that they did not have with their old currency. It also got the a big reminder of Saddam out of their daily lives! The bottom line is that the new currency has been very well received. In fact, in 2004 they started making smaller denominations and coins to help accomodate for the increasing value of the dinar!
It is very expensive for a country to change it's currency. This new currency was developed after 3 months of study by some of the best treasury advisors and economists in the world. They studied the situation in Iraq and worked with their Central Bank to come up with the present currency as a long term solution. Since the New Iraqi Dinar was introduced, it has more than doubled in value. How did their currency board react to that. Did they even mention changing the structure of the denominations? Did the look at adding or subtraction zeros from the denominations? No, they started printing lower denominations and coins to adjust for the rising value - which shows a further commitment to keep what they have and work with it.
5. How can I follow the changing value of the Dinar?
You can find the week to week institutional exchange rate changes at the
Central Bank of Iraq.
6. Why can't I just buy the Dinar at the current rate that is listed at the Central Bank of Iraq?
That rate is only available to institutions in Iraq or to account holders at banks there. You are basically paying us (or any other Dinar dealer) a convenience fee to bring the Dinar to you. The exchange rate on the street in Iraq is about 1,000 Dinars to 1 US Dollar right now. Once we get closer to when the international exchange rate is going to be set, the supply will become unavailable to us as many people there will be unwilling to part with what Dinar they have. We pride ourselves that our prices are at the lower range on the web and we know we provide better service than other Dinar dealers. Besides, you know that if you pay peanuts, you get monkey business! We know that trying to save a few bucks working with another dealer has brought many back to us, after the anxiety and stress of not getting a response after sending someone your money is a horrible feeling. We try to be as responsive and available as possible, you would be surprised how many people send or leave messages with another dealer about questions or an order, only to not hear back for days if not a week! That is just not acceptable to us.
7. Is this legal?
It is perfectly legal to buy the Iraqi currency from a federally registered broker. It is a legal investment and if you go through the links on the site, you will see credible, authoritative sources that confirm this.
8. How can we verify your federal registration?
We are a registered MSB. That is a Money Service Business. We are registered with the IRS (A division of the Department of the Treasury). There is a listing of registered MSB's on the MSB website. That list has not been updated since April of 2005. We registered shortly after it was updated, so you would need to call them to verify our registration. To verify our registration you can call the contact number listed on the MSB website. It is: Detroit Computing Center Hotline #: 1-800-800-2877. Press 3 for the MSB department. You can then speak with an IRS agent to verify that we are registered. Please be forewarned that you are usually asked to leave a message and it can take a week or longer for them to get back to you. We have no reason NOT to be registered! Registration is free and there is no licensing involved. The registration requirement came as a result of the Patriot Act, and is to have any agency that deals with money movement or currency exchange to report money laundering or suspicious activity.
Help Finish the Job our Brave Armed Forces Began.
By helping Iraq and buying the New Iraqi Dinar, you are investing in the future economy of Iraq.
How does buying the New Iraqi Dinar help Iraq? Their new currency came out in October, 2003. People buying Dinar with Dollars have helped the New Iraqi Dinar more than double in value since then. This has mainly been due to speculative buying. This means people who get paid in Dinar, like Iraqi government workers, police, and security forces can afford to buy more things they need and make being a lawful part of their new society more attractive. Prosperity in the new Iraqi democracy helps to promote liberty and democracy while eroding support for the terrorist insurgency.
By buying Dinar, you will also hold a stake in Iraq's future success.
The Dinar has long been a strong currency. Right now it is at a historically low rate. It is similar to what happened in Japan and Germany after World War II. Their economies were shattered so you could buy up lots of their currency very cheaply. Once their economies got back on track, anyone who had taken advantage of that opportunity became extremely wealthy. The US Government has invested over 200 Billion Dollars in the future of Iraq so far. They have committed another 18 Billion Dollars in Reconstruction Aid. That is more than $2000 per US Household. Are you in a position to directly profit from that investment? You are if you buy Dinars.
gif.gif)
