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Dinar is the official currency unit of Iraq, and it is officially named as the Iraqi dinar( IQD), the current exchange rate of the Iraqi dinar at 1USD to 1164 IQD, these rates are by the central bank of Iraq, times have not been good for the Iraqi dinar, mainly because of the country’s situation which has been instable for over a decade now, but still there are some positives about the dinar, and people still see it as a good currency to invest in, people invest in currencies with a view to earn profits and the currency that is performing well in the international trade and monetary markets is mostly purchased by the people, although Iraqi dinar does not enjoy the stature and value it once had in the international market but people still want to invest in the currency, and many think this is a jackpot currency and a way to get-rich-quick, this can mainly be because of the potential revaluation of Iraqi dinar, the revaluation of the Iraqi dinar has been a matter of discussion for some time now, but due to countless reasons the dinar has still not been revalued because people are not interested to buy Iraqi Dinar.

Iraqi Dinar

There may be several reasons behind it, maybe there are major forces involved who do not want to see the Iraqi dinar getting revalued and reaching its previous heights, or even exceeding it, because nobody is to deny the potential of Iraq to become prosperous again, and the main reason behind being this hopeful is because of Iraq’s oil industry, Iraq is rich with oil and has been one of the biggest oil exporters of the world, Iraq always had the potential to become the biggest oil exporter in the world, it is ranked 4th in the world with only Saudi Arabia, Bolivia and Iran topping the oil exports of Iraq, a lot of countries have shown their confidence in Iraq’s oil industry, and countries like France, china and the USA have invested in the oil industry.

Iraqi DinarIraq’s 95% exports have always been oil and oil related products, no other industry of Iraq stands as important as their oil industry, they have always heavily relied on their oil exports, but war and combats have affected the production and exports of oil and many countries stopped trading with Iraq, but since the government was resumed in Iraq, there has been slight positives in just about everything, and the government always emphasized on investing more on the Iraqi oil industry, and with some major investment coming in from numerous countries there is a good chance that the Iraqi oil industry can again reach its full capacity and again export humungous amounts of oil that it has always been exporting.

Everything that Iraq achieves is mainly dependent on its oil industry and obviously the Iraqi dinar will also get appreciated in the international market if the Iraqi oil industry swings its full flow and those who hold the dinar now would have the opportunity to earn some good bucks.

The growth in economy of Australia has been rapid, especially in the recent past it has been one of the fastest growing economies in the world. And obviously the economy has an effect on the trading the country’s currency in the internation...

Jan 7, 2015

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