Here is a chart showing the Iraqi Dinar value history from 2004 to 2011; keep in mind that you want the historical value to go down so that it’s closer to the US Dollar, however, you can see that it started heading back up which is bad. Also keep in mind that we are talking fractions of a cent here and that all the dinar on this cart only equal $1 US Dollar!
Below was the US State Department’s section Iraq’s new national currency on 10/15/03 which they called the “New Iraqi Dinar” and is to replace the “Old Dinar” and the “Swiss Dinar” currency of northern Iraq.
The goal is to create one type of currency that will be used in Iraq with emphasis on practicality in denominations rather than the obscure values used in the past.
You were allowed to exchange your old dinar for the new national currency up until 1/15/04 and included exchange center locations throughout Iraq.
I had the chance twice, I was offered the Kuwaiti Dinar for nothing. In 1990 I passed it up and years later my $400.00 USD investment would now be worth over $1,000,000.00 USD.
In 2004, again I was looking at making a small investment into the BiH currency. I was able to buy it at 1 USD and get 4 BiH dollars.
just think what $500.00 USD would be worth today.
My point hag on and keep watching the Iraqi government needs this as does the US. The US has a lot of the Iraq Dinar. Our national debt will take a big cut.
Absolutely not JK, there is no basis for the value of the iraqi dinar to repeat history, and odds are, it will not even be close to that amount!
does anyone have an idea when iraq will revalue their currency? and what the rate would possibly be? When |Saddam cas the pres. I saw that it was around 3.33. wouldn’t chave to go back to at least that amount??
put them in Museum
i have 50000 iraqi dinar. i collected these dinars after the start of iraq crises. Are these dinars can be exchanged? Please help me and tell the correct way to exch these dinars and also intimate the currect exch rate to pak currency. Thanks
Can someone please explain the value history to me? I’m not sure if i have the full understanding of this venture. What is the significance of dropping the zeros or not?
John, I have that question myself. I came back from Iraq with just over 3 million of the new dinar. My concern is what if they come up with another new currency… how can we trade what we have in for the new stuff, how can we find out when the grace period is to do this trade? My bank sells dinar and the branch manager claims that if that should happen we should be able to trade what we have for the new stuff… BUT… we will have to pay the processing and s/h fee’s. Just makes me wonder how much we’ll lose and who’s gaining in this?
Have Dinars with many zeros? Look at Germany on the 20′s and Latin America on the 80′s. What happened? They exchanged the currency of the many zeros with a new currency. Let’s say – 1,000 of the old one will be 1 of the new. They don’t evaluate the currency, it was just exchanged by a new one with no zeros. Sorry to bust your dreams of easy money.
I have some dinars and do not know how much they are worth here. It is not much as they were from an army friend that was in Iraqi & Kuwait. Some say 1/4, 1/2, 20, then I have 55 that have Saddams face on them. Can you help? I also have some coins.
I have faith that this will all end soon this month before the 30th cause of the I.M.F they cant go no further. for the ones that do have the dinar hang in there like myself. are goverment needs to pick up the pace and make this happend . not just for us but for Iraq as well. this will open alot of doors for the people here for jobs , cause of some of us will start up business so that will help out.
It is true that this is a gamble but one thing to have in mind is that if for just say you buy some currency and it only goes up to lets say five cents you will still recoup and make some money back. I will probably wont throw my life savings at it but you are buying a chance that the value of the iraqi dinar will repeat history.
I know first convenience bank in Texas has the iraqi dinar at their bank because i bought some and take a chance with it its like the lotto you are taking a chance trying to win so take a chance on this because when something good happen you will up set at your self cause you didn’t get in on it. Look at the history of the iraqi dinar value and you’ll see the opportunity!
All I have to say is its a gamble.
Do you really want to miss out.
If it goes up you make a lot of money. If it goes down you lose a thousand bucks. Of course depending on how much you buy.
All I have to say is its a gamble.
Do you really want to miss out.
If it goes up you make a lot of money. If it goes down you lose a thousand bucks. Of course depending on how much you buy.
just think about the kuwait currency pre and post invasion by Hussein, I know its long term but things happen in time!
I don’t eat at a place called Ma’s, and I don’t drink out of a straw! I have doubt’s about a currency that has 25,000 denominations!
Iraq is the most capitalistic society on Earth!! They count their money, like they shuffle cards in Vegas!
If i wanted to exchange larger denominations of dinar for smaller how would that be done today
I see the history, so I ask, when will the dinar get revalued? Will the zero’s be dropped?