Iraq Exported Oil in July to Eight Billion Dollars

Announced that the Iraqi Oil Ministry announced yesterday that the country's exports of crude oil rose in the (July) to 2.442 million barrels per day in an average of 2.423 million barrels per day in the previous month.

And issued a statement which drew that shipments from the northern Kirkuk oil fields are still parked. The total selling price of Iraqi crude to $ 102.8 per barrel and revenues of $ 7.8 billion in July. Iraq exports most of its oil from the ports of the south.

Furthermore, Turkish officials said that Iraq's Kurdistan oil pumping through a pipeline to the Turkish port of Ceyhan resumed yesterday at a rate of 75 thousand barrels per day after a stopover late last month due to full storage tanks. They pointed out that the sixth tanker carrying 260 thousand barrels of Kurdish oil left the port of Ceyhan after the completion of the download.

In the markets, the combination settled «Brent» near $ 105 a barrel, as it overshadowed fears of a global glut in the supply of concern about the violence raging in the Middle East and North Africa. And paid an oversupply in the markets of West Africa, Europe and America «Brent» to decline 3.3 percent despite the political and security tensions in Iraq, Libya and Ukraine that can disrupt crude production in the future.

Crude rose «Brent» 16 cents to $ 105 a barrel, after falling $ 1.18 on Friday to 104.84 dollars, its lowest settlement price since the second of April. U.S. crude rose 20 cents to 98.08 dollars after they ended the week at its lowest settlement since February 6 (February).

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Iraq Food Imports in 2012

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Innocent Iraqi people came across a series of wars in the last 3 decades. They lost their beloved ones, but at the same time, they deprived of basic necessities of life. The Grain Board of Iraq GBI established a state-run food rationing system in 1990 to facilitate their citizens. Unites Nations applied trade sanctions on Iraq due to the aggressive political moves of formal ruler Saddam. The poorer citizens had to pay the penalty as they were starving of eating food items at that time. The food rationing system was put into place to allow the Iraqi people to get required quantities for almost no charge. More detail please read full story.

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Iraq is supporting the World Peace

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The law and order situation in Iraq was out of control few years back, but after the UN invasion in 2003, the Coalition Forces took charge of Iraq and a democratic government took office as a result of general elections in 2006. Initial years were extremely challenging for the current democratic government, apart from the law and order situation speculations, counterfeits and black marketing were at its peak. Many sectarian and religious issues restricted Maliki`s scope of improvement. More detail please click here

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Currency Exchange Online Auctions Through Central Bank of Iraq

Experts say, the hard-currency public auction governed by the actual Central Bank of Iraq (CBI) - your specialist in charge of utilizing a financial plan in the nation -- features brought from the enhancement of economic terms, through which board people in Iraqi personal banking institutions are generally invested.

Every single day given that 2004, the actual CBI offers held antique dealer through which difficult forex is solid for you to financial institutions, organizations along with investors in exchange for evidence transfer as well as transaction invoices. The sale try to reduce market place speculation along with support the particular exchange charge associated with Iraqi dinars to the US dollar. The particular CBI - which usually will not deal with men and women : carries $1 regarding 1,118 Iraqi Dinar.

The particular exchange rate continues to be changing pursuing the criminal arrest guarantee granted up against the previous governor of the CBI, Sinan al-Shabibi, at the conclusion of last year. During his phrase, Shabibi adjusted the sale since data leaked about smuggling funds through Iraq to Iran to satisfy the actual latter’s requirements regarding tough currency exchange amongst worldwide sanctions.

As a method regarding managing the actual claims, the CBI prohibited just about any standard bank as well as organization along with money associated with below $400,000 via getting involved in your currency exchange public auction. Additionally, most contributors were required to publish their own participations towards the legal department in the Ministry of Internal, the economical criminal offences device along with the money-laundering section with the CBI with regard to acceptance.

This specific string associated with limited procedures features diminished participation within this market to a minimum. Subsequently, the particular CBI has been accused of approving currency-trading protection under the law to a limited number associated with firms as well as financial institutions, which usually led to local-currency decline as us dollars grew to be scarce.

In an attempt to support the injury, the actual CBI certified many personal banks for you to straight promote a specified number of money for you to Iraqi residents pertaining to take a trip functions as well as medical treatment offshore. This kind of authorization permits whoever keeps the Iraqi passport to buy $5,000 via private banks once per month, in line with the CBI price associated with 1,118 Iraqi dinars to the money. This particular apply is now lucrative.

The particular swap fee in the Iraqi black market nonetheless is an acronym at about 1,225 Iraqi dinars to the dollar, a positive change of several Dinars per buck. As a result, the actual lengthy lines looking at exclusive financial institutions have grown to be a normal incident. At most events, forex merchants have offered to book given through folks to enable them to purchase more Forex.

The Business owners associated with several non-public change companies are convinced that banks certified to market US dollars are dealing with intermediaries in exchange for undisclosed commission rates. These kind of claims, however, has yet to be confirmed. Authorities from the CBI and banking institutions have refused to opinion.

Amin Abbas, associated with the Financial Committee inside the Iraqi parliament, asserted “the CBI usually takes a total obligation for that fall with the exchange fee in the Iraqi dinar towards the US dollar due to its hard to stick to measure throughout giving allows to interchange companies. The method, for that reason, is becoming tied to specific businesses. A few publication rack overtaking the whole process of hard-currency buyer from the CBI on account of your limits imposed through the CBI’s management,” he included. Following arrest justify issuing towards Shabibi, Prime Minister Nouri al-Maliki employed Abdel-Basset Turki, previous head with the Supreme Review Panel, as temporary Key Lender governor. But talk about the CBI’s responsibility inside the decline in the Dinar’s Exchange Rate features experienced, despite Turki believed his or her placement.

Mohammed Khalil, an official inside the Iraqi parliament’s Economic as well as Expense Committee, noted in which “the current supervision of the CBI provides inhibited the actual movement involving US dollars to the market and also the accessibility regarding citizens and traders to this particular forex due to its limited steps. [The CBI] fears the actual smuggling of significant amounts of challenging foreign currency to other countries and funds laundering.”

Khalil ongoing, “The CBI must facilitate the process of moving US dollars to the market and should and then carefully discover their exchange in and out of the nation so that you can do not allow funds washing and other alike violations.”

Decline of Iraqi Dinar and Political Scenario

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The current exchange rate of the New Iraqi Dinar in the foreign exchange markets is $1 for 1226 IQDs.  It has been observed by the financial hubs that the demand for dollars has increased in the last couple of weeks. The purchases of CBI, The Central Bank of Iraq is 131 million dollars as compared to the 126 million dollars in the previous financial session. As a result, the dollar reserves of CBI have exceeded $67 billion at the moment. More detail please visit here

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Iraq Natural Gas Projects

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Nature has blessed Iraq with abandon natural resources of oil and gas. The World is looking towards Iraq for its increasing fuel needs. Apart from neighboring countries, the rest of the world is also negotiating oil deals with Iraq to get rid of their energy crises. Like crude oil agreements, deals on gas projects are being finalized by the Iraq government. More detail please visit here

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Iraq Will Import Rice from Thailand

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The agriculture sector of Iraq is gradually moving ahead as the series of wars ruined this industry as well. Infrastructure for cultivation is hardly available as Iraq is blessed with oil under the soil in most of the areas. To fulfill the domestic food needs, Iraq imports various commodities from the other countries. So Iraq is the equal business opportunity for the importers and exporters at the same time. More detail please visit here

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All Awaiting Formation of New Government

Source by: Iraqi Dinar

URL: https://www.iraqidinar.net/all-awaiting-formation-of-new-government/

It is hoped that the Iraqi government will quickly get it house together and quicken the pace at which things are getting done in the Iraqi nation. The rate at which things are moving is not really helpful for the growth of the Iraq economy and the Iraqi dinar. Because of this, Iraqi nationals that are living in Iraq are forced to consistently suffer in the present persistent decay that the Iraqi nation is going through. More detail please visit here

Iraq-Aqaba Pipeline Project

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The Iraq Business News reported that the Iraq-Aqaba Pipelines Project is close to be completed. After the completion, the project will be handed over to a pursuant to investment regulations. The pipelines will be constructed across the Gulf of Aqaba and carry oil from Basra to Jordan and Egypt. Egyptian Prime Minister HeshamKendil has signed an agreement at the beginning of this month during his visit to Baghdad. For more detail please visit here

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Grand Plans of Chrystal Group in Iraq

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“THE National” has reported that Crystal Group of Abu Dhabi has planned a hotel Chain in  Iraq in the next two years. The first bench mark in this chain will be open in May this year. Crystal group`s spokesman has stated that the group will start from Baghdad and the name of the first hotel will be “The Crystal Grand Ishtar”. According to the report, Crystal Group is planning to open hotels in Karbala, Erbil, Basra and Suleimanya in the coming two years. More detail please visit here

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Financial Growth of Iraq

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Seven years have passed, but Iraq economy is still struggling. The root causes are countless, but the question is how long it will take and what will be the right steps to be taken? Iraqi dinar is very popular these days in all international financial markets not because of its high rates, but for its future forecasts. ID had not been traded freely in world foreign exchange markets because of the absence of some well reputed Iraqi bank outside Iraq even in the times when Iraqi dinar was at its peak. For more detail Visit Here

Dust Storms of Iraq

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Natural calamities and disasters are always hard to forecast for the department responsible for weather and environment. Some countries are geographically situated in a position that sand and dust storms often stuck with them. Unfortunately, Iraq is one of those countries where dust storms hit and last for days. UNO has been playing its role in Iraq for decades. A ministerial meeting has been held under the supervision of UNEP, United Nations Environment program In Nairobi Kenya. For more detail please visit here

PetroChina Considers Join Exxon at West Qurna-1

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Iraqi Budgets Is Yet To Be Passed

The Chairman of PetroChina has told Reuters that his company is willing to join Exxon Mobil in the 400,000-bpd West Qurna-1 oilfield project.

Jiang Jiemin (pictured) told the news agency:

“We are willing to jointly develop the project with Exxon Mobil. Exxon Mobil welcomed our participation and the Iraqi government also supports us joining the development … The asset value of the whole project is massive, but near-term capital spending required is not that huge.“

He went on to say that the PetroChina, owned by the China National Petroleum Corporation (CNPC), would “thoroughly evaluate the project” and make an investment decision at an “appropriate” time.

Exxon is understood to be considering various options to resolve the difficulties caused by the company’s activities in Iraqi Kurdistan, which Baghdad regards as illegal, and the Ministry of Oil may be willing to offer better terms. One option for Exxon may to to sell part of its 60 percent stake while remaining as operator.

CNPC made a play for Exxon’s full stake in West Qurna-1 at the end of last year, but the U.S. company was not satisfied with the bid, according to industry sources.

Iraq Boosts Gold Reserves

Iraq manufactured its first major relocate many years to improve the gold supplies, joining key banking institutions coming from growing market financial systems including Brazil along with Spain in diversifying their international reserves.

According to a report from the Lebanese Daily Legend, central standard bank has bought are already one of the greatest owners involving gold’s rally considering that 2010 - per year that observed main banking institutions turning internet consumers from the platinum initially by 50 % decades in the middle of increasing questions concerning the balance in the dollar as the world’s leading arrange currency exchange.

During the period of 3 months in between June and March this season, Iraq’s gold holdings quadrupled for you to 31.07 tonnes, your Worldwide Monetary Fund‘s month-to-month data document showed in Thurs.

Iraqi Dinar a Long Term Bet

This is the debate nowadays that Iraq’s financial and economic growth would be seen in the near future because of the higher exports of the oil and oil derived products. Authorities are seening level of comforts by allowing dinar to feel strengthen under the force of flows of oil money into the country in the long term.

According to the IMF, at the moment country is getting 0.2 percent budgeted surplus of gross domestic product to enhance this figure up to 12.1 in 2017.Iraq is still facing deficit in the trade of goods and services as it was in 2010 and 2011. But 2012 showed a MIX TREND of upwards and downwards.If we talk about the projection up to 2017 for next five years then there is an estimation of large surplus of 11.3 percent of GDP. 

The central bank of Iraq is planning  to make 1 Iraqi dinar equals to 1 US dollar with a consideration  of redenomantion and positive reception, even though, that will take approximately 3 to 4 years to do that because of the instable circumstances in the middle east and its is also said if the circumstances changes  over night in a shortest span of time then the process of redenomination will take over faster and convincingly the value of dinar will go up and up along with the increasing trend  with oil prices and 

Most of the analysts predict that the process of appreciation would go further and they are expecting Iraqi dinar to stay stable for the next 3 years, further more, after the expected castling of the Iraqi dinar, they will take Iraqi dinar beyond par against the value of the dollar, including the advantages and disadvantages of redenomination.

In order to do above adjustments with Iraqi Dinar Investment they will have to stabilize the politics, up to date skills, improved education, diversification in the economy so that not only depending on oil exports, and planning to offer finished product instead of exporting the crude form of oil.

To some how stability in the value of the Iraqi dinar has been observed for the last 3 to 4 years and it is still showing too much positives in its growth. After the invasion of Iraq in 2003, further execution of Saddam and renewing the currency notes, it is, on  the average well in the course of stability along with a few political fluctuations.

Making bets in Iraqi dinar, by my point of view is slow, long term but most fruitful investment as we all know the higher the risk higher the profit and vice versa. But to determine the potential risk is the art of imagination and evaluating the past experiences which both are in favour of the Iraqi dinar to invest because there is no Saddam who spent most of his time in wars and destruction of Iraq.

Iraqi authorities are wishing the dinar go back to the value as it was like before, when it was equal to 3 US dollars in 70’s, 80’s. I expect the time will come when they will flourish with rich oil industry and economic diversifications when Iraq will be the strongest economy of the world because they are an oil bomb country.

New Sensation of Iraqi Dinar Investment

In the business world, Iraqi money is making a new sensation with the promising future of economy. Iraq has become the point of attention for the investors, economists, financial experts and common man. The currency of this country is in heavy demand or you can say that this currency is on steep rise a will be revalued soon and this currency will make you rich and prosperous. Many companies are just investing in Iraq with the studies of economists and financial experts. Many experts think that this is the right time to invest in any project of Iraq as Iraq is only the country that can provide you with the potential investment source. This source is only the source that can generate the long term benefits because every project in Iraq is available at low bids and even the currency of Iraq is also at the lowest value. And thus Iraqi Dinar Investment  is also a good option for the Iraqi currency investors who want to earn a good profit from this investment.

When opting for dinar investment then investing in 10000 denominations is the best option because investing in 10000 is a promising investment and this will bring a huge return on investment and this currency will offer the impressive growth rate on investment.

It is important that potential investors should keep their attention on the present exchange rate to estimate the return on investment. As you know dinar was banned to be traded in international market after happening of gulf war. And still, at present, Iraqi cash has got so much popularity despite of its ban. Investing in 10000 dinar is at all-time low value currency and it has been thought that this currency will swing to a favorable change once the devastating currency revives gradually. So we can say that your present investment will get translated into an excessive profit in the near future. So, don’t go anywhere, just consider investing in 10000 dinars.

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Free Iraqi Dinar Coin Set

There were many news and updates in the newspapers and online web portals which provided the latest information about the Iraqi currency news and updates that Government of Iraq is planning to revalue the dinar by removing the three zeros from the basic denomination. Nowadays dinar is trading at the value of 1167 Iraqi revenue and it has been expected that after Authentic Iraqi Dinar will come back almost to equal with the value of USD. And this is the reason why people are leaving other investments and just investing in Iraqi money.

As you know, Iraq is the second largest oil producer of the world and this year Iraq produced the record oil in last 32 years i.e. 43 million barrels. Iraq has also enhanced its oil exports and these exports will add 25 billion USD in the reserves of Iraq and this will be very helpful in order to minimize the debts of Iraq. So investing in Iraqi cash will surely bear the true results and will make you rich and prosperous.

UN Secretary-General’s Visit to Middle East And Iraqi’s Current Situation

Ban is now planning to meet with his newly appointed Humanitarian Envoy for Kuwait named Abdullah al Matoug. Ban appointed him last week where he was emphasized to build stronger relations with the government of Kuwait. Ban ki moon said that Gulf country had a tradition of 50 years of parliamentary elections and also recognized women voting rights since 2006...” Ban hoped to get more parliament seats in the parliament. Unlike this he said that vote in the general assembly last week to upgrade the Palestinian status to a non-member Observer State as “an important and historic development”, and thus Ban showed his position for the rights of Palestinian people and for the construction of viable Palestinian state. Ban said that he would like to play an important relo in building of stronger relations between Palestine and Israel and he further emphasized the resuming of operations and resolving of all outstanding issues. Ban further said that he will try his best to build stronger relations with the Israel and Palestine.

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He added there were hopes from the states members and he further said that it would have been better if the Palestinian bid came as a result of the relations and consents between two parties but now that the General Assembly had taken decision and this is a fare decision in this regard and as far as outstanding issues concerns. He further said that Russia, EU and US are also playing an important role in order to make smooth transition between these two countries and this is the credible job played by these countries. The way Syria crises is unfolding is condemnable and Syria is passing through a serious crises. 

There should a complete stop to military Violence and should be negotiation between opposition and government forces.“Like this way they cannot go on and International community should play important role to stabilize the political conditions of Syria. Ban met with special representative for Syria, Kakhdar Brahimi, and said that soon he will discuss the matter with US secretary of State Hillary Clinton and afterward there are chances that positive developments may occur for Syria. Ban said that he will make visit to Kuwait and Iraq and then to visit thousands of Syrian refugees at the Jordanian and Turkish Border. These are the matters which will pave the way of Middle East. Ban’s response for Middle East conditions was quite satisfactory. He insisted, saying the Joint Special Representative for Syria, Lakhdar Brahimi, will soon discuss the matter with US Secretary of State Hillary Clinton. After his visit to Kuwait and Iraq, Ban is scheduled to visit thousands of Syrian refugees at the Jordanian and Turkish borders.

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Growing Interest of US Investors in Iraqi Dinar

Las Vegas-based Scarpa is the one of those millions of investors who keeps their savings in the retirements accounts said that question is not “if” or “but”, but the thing is about when Iraq revalues its currency and when Iraqi dinar will be revalued and when it will become the highest possible value of the world.

He is the one who is not single who has fallen their investment on the high risk but despite of heavy risk, people investors are thinking this investment as long term turnaround investment and this investment will pay off just for the highly patient. Scarpa is not the single one who is buying the Iraqi dinar in America but there are thousands of people who are thinking this investment as a hope of getting the profit.

The basics for purchasing of Iraqi dinar are unwarranted. The US invaded the country in 2003 and US security recently has removed large proportion of its troops from Iraq. The present situation of the country yet remains unstable and destabilization in all over the Middle East and the most recent fight between Gaza and Israel could undermine the fledging republic more.

Interest of U.S. retails investors is good news for Iraq and is a part of a broad push for the purpose of investment opportunities that will offer some yield to the investors and this is the good chance for the investors who quote zero interest on their certificates and US savings as a cause of buying the Iraqi dinar and other exotic currencies.

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If we look at the value of Iraqi dinar then we find out that the Iraqi dinar is only equivalent to one tenth of US cent and this currency is in the downward pressure due to imposing of sanctions on the neighboring countries i.e. Iran and Syria.

When it comes to buy Iraqi dinar then it looks like as task as we. This currency is traded in Iraq only and only U.S customers via handful of dealers are liable to sell it that get the currency from the bank. In this way if a customer wants to sell the Iraqi dinar then dealer will only buy it back at discount of 30%. So, there is no quick trader here.

But Scarpa said he is ready to wait for getting the dinar revalued. If we take into consideration the largest oil reserves in the Middles East then we can say with the export of 3.4 million barrels of oil per day will make it the largest oil producer of the world.

"Scarpa said, if the dinar revalued with the increase of a penny then it would realize a profit of 900%.

Source of Information for Iraqi Dinar Investment

Nowadays, heap of news are about revaluation of Iraqi dinar. This news is for more than two years but this news about Iraqi dinar revaluation has risen up and every expert is authorizing this event to be happened. The present value of Iraqi dinar is 1167 Iraqi dinar per USD. And it has been expected that after the revaluation of Iraqi dinar this value will come to the level of 3USD per Iraqi dinar. That’s the reason, everyday investors of Iraqi dinar are rising and more and more people are tending to invest in Iraqi dinar. And the event is near to happen when people will experience to have a currency revalued which was bought at lowest price and will sell the Iraqi dinar at the highest price. This event is promising event and going to happen very soon. This event will make thousands of people rich and prosperous. So think about to invest in Iraqi dinar and make your investment safe and secure.

The financial experts of Iraq are more hopeful that economy of Iraq will have a constant growth and the present economic conditions of Iraq may yield some important profits to large numbers of investors and other significant investors. Few year ago, before the government of Saddam Hussein one million Dinars were equal in value of approximately 300,000 USD but right after few years this currency fell down and reached to the historic low level and this is the time when Iraqi dinar is facing the low Iraqi dinar value. Iraqi dinar will revalue with the improvement in the economic conditions of Iraq. As you know Iraq is the second largest oil producer of the world and Iraq is welcoming the international world to make their investments in Iraqi dinar and to support the Iraq.

Free Iraqi Dinar Coin Set

Few months ago, Iraqi government managed to hold an international expo 2012 in which more than 2500 companies participated and shown their interests to make investments in Iraqi dinar. Iraq is supporting both big investors or tycoons and Small investors to invest in Iraq’s mega projects. After the expo, Iraq received the application of more than 2000 companies which requested to government of issue them NOC as soon as possible so as to start the work on the projects. Iraq promised to provide the security to all of these companies interested to involve in a project. This is a good sign for the development of Iraq and this will help Iraq to get its economic targets.

Iraqi dinar is the reliable and suitable currency for investment and people can invest in Iraqi dinar very easily if they have services of dedicated Iraqi dinar dealers as dealer is only from where you can get the dedicated and reliable services of Iraqi dinar. You can ask anything from the dealer. Dealers have made their own websites which offer you the latest exchange rate of Iraqi dinar and latest news and updates about Iraqi dinar and even you find the latest articles written by financial experts showing the currency scenario about Iraqi dinar investment.

Brief Introduction About Iraqi Dinar

Iraqi dinar a historic currency and this currency were known to be the Swiss dinar as well. Nowadays, you will find the investors investing in Iraqi dinar because high officials of Iraq are thinking to revalue the Iraqi dinar. Government of Iraq has also made a special committee in this regard and that’s the reason and this currency is hot in air and people are rushing towards this investment. If we look at the currency by means of natural resources of Iraq then there is a good hope for the Investors and this currency is the potential currency to revalue.

Iraqi dinar the second largest oil producer of the world and it has also the largest water reserves, gas reserves and minerals reserves and these sources are the most important factor for Iraqi dinar and if these factors are brought into consideration then it becomes sure to get the profiteering investment. That’s the reason Iraqi dinar investment has become the popular investment and people are rushing towards this investment and that’s the reason this investment has become the safest investment as well because you can Iraqi dinar notes which are latest in security and high in quality and available in six denominations. You can have these currency notes at the dealer’s online shop and easily you can get delivered Iraqi dinar at your doorstep. In this way you will get the very best from investment.

At present many government officials are saying that Iraqi dinar is in the process of revaluation and this revaluation will take few months and this investment will offer the bulks of profit from this investment and that’s the reason this investment is safe and secure investment. So invest in Iraqi dinar and make your investment safe and secure.

Iraqi dinar has a very adventurous history and its history is full of ups and downs. Iraqi dinar was issued in 1932 and at that time Iraqi dinar was at par of value with British pound and three times more in value from the USD i.e. 3.33 USD per Iraqi dinar and this currency maintained its value for more than forty years and afterwards with the start of Saddam Hussein’s government, Iraqi dinar could not maintain its value due to sanctions from UNO and gulf war and there was also one reason for the devaluation of Iraqi dinar and that’s the reason Iraqi dinar could not maintain its value and fall down to the historic low value.

Nowadays people are opting to invest in Iraqi dinar just because of the reason that this is the low valued currency and has potential to rise in its value with the rise in oil production and in this way this production can become the one of the important factor for rising of Iraqi dinar value. Iraq is making tremendous policies to increase the oil production and to rise its oil production and that’s the reason this investment can become one of the most important factor for the Iraqi dinar revaluation.So invest in dinar and make your investment safe and secure.