Savvy investors are always looking for unconventional ways to invest, including investing in foreign currency whose value is on the upswing. There’s never any guarantee of how stable a particular currency will be, but with careful attention U.S. dollars can be turned into currencies like the Iraqi dinar which may gain value over time.
One reason to buy Iraqi dinars is that their foreign demand isn’t very high. Part of the reason for this is that Iraq’s economy is driven by international oil sales, which are conducted in dollars instead of in the Iraqi dinar. This means the dinar has retained its “exotic” status.
The Iraqi dinar has been in use continuously since its introduction in 1932. The conversion rate for dinars to dollars overwhelmingly favors the dollar: throughout much of 2012, a single U.S. dollar was valued at around 1,200 dinars. But with Iraq’s economy slowly recovering after years of ongoing warfare, the value of the Iraqi dinar may see a steady increase. This means that dinar speculation could prove to be a worthwhile pursuit for foreign investors, even including middle income Americans.
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