While investing in iraqi currency, the dinar to be specific, might not be the best investment idea at the moment, there are still a few things that you should probably know for the future. With the conclusion of the war in Iraq, there might just be more of a demand for it in the near future. Here are some facts to get you started.
1. Before the dinar was introduced, Iraq used the Indian rupee as currency. When the dinar replaced the rupee, Iraqi dinar exchange rate was equal to about 11 Indian rupees.
2. Though they were not always, after 1954 dinar notes were issued by the Central Bank of Iraq. They have also been adding different denominations throughout the years. The most recent additions to the dinar currency was during the early 2000s.
3. Those investing in iraqi currency have been accumulating the new Iraqi dinar since it was introduced in 2003. Though the price for the dinar has been steadily low in the past decade or so, it has begun to raise little by little in the past few years.
4. At the moment, Iraqi dinar are considerably affordable. While this does make them a low risk investment, there is not much prospect for a return on that investment at the moment so people should keep in mind that investing in iraqi dinar should be done at their own risk.
5. The iraqi dinar has been been produced in several denominations and color schemes over the past decade or so. This is another reason that the currency is beginning to catch the eye of foreign currency trading specialists.