25000 dinar note is the highest currency denomination available in Iraq today. Hence, you may be of the opinion that you can buy a lot of stuff when you step out into the market in Baghdad or any other urban or rural market in the country. However, the drastic fall in the prices of crude oil and the ’still improving’ internal security situation has led to inflation and a huge rise in prices of basic goods in Iraq.
While prices of wheat and rice (imported rice) stood at less than 500 Iraqi Dinar per kg in January 2004, the cost of these goods have risen from 2500 Iraqi Dinar to 3300 Iraqi Dinar per kg by January 2009. As far as locally grown rice is concerned, the starting price stood at 700-800 Dinar per kg, which has now risen to more than 4500 Dinar per kg today.
The rise in prices of basic foodstuff is making life miserable for most ordinary men on the street. That is when you realize that the 25000 Iraqi Dinar note in your pocket is not going to fetch you a lot. You would need numerous 25000 Dinar notes for your shopping bag to get filled.
The fluctuations in the prices of beef and vegetable oil have been particularly vicious in Iraq. While prices stood at 1250-1750 Iraqi Dinar in 2004, prices now stand at more than 7500 Iraqi Dinar today. Despite the inflation and high prices, there is no denying that shopping in Iraq has a charm of its own.
Iraq is one of the oldest civilizations and no race can ever survive for such a long time without having healthy trade in and out of the country. The markets are flooded with numerous stalls and shops with each and every shop keeper hawking his or her wares in loud voices.
The smells, sights, colors and shapes is enough to dazzle even the most bored person. The market may not have the glitz and glamour of an American mall. It may also not have the sophistication of a Japanese or French market. Yet, it grows on you and you realize that shopping is a lot more than just a commercial transaction here.
Old shops jostle for space with new shops here with rickety old stalls overloaded with fruits and vegetable stands next to neat shops proudly displaying the latest electronic goods. The markets are crowded and the sheer surge of humanity on the market days is enough to disorient the most experienced shoppers.
Prices of bread, white meat, sugar and beans and lentils too have increased over the years. All this means that 25000 dinar will not help you purchase a lot of foodstuffs in an Iraqi market. As far as personal use items like shoes, garments and other such products are concerned, a 25000 Dinar note will help you buy a few of these products without any difficulty.
As per the current dinar exchange rates, a 25000 Iraqi dinar will fetch around $17. Now, what can one buy with $17 in a shopping mall or store in USA? A trip to Walmart will help you realize the fantastic goodies that $17 or 25000 Iraqi Dinar can buy in America.
You can easily buy a brand new digital camera from Walmart or Walmart.com for $17 amount. If you want something for personal use, then how about a few purses or one or two pairs of jeans? A 25000 Iraqi Dinar can be used to buy enough rations and foodstuffs to provide sufficient nutrients for an individual for 4-5 days. Or you could feed a family of four individuals for a day with $17 shopping in Walmart.
25000 Iraqi Dinar can easily help you buy flash drives, books, Cd’s, DVDs, PC games, video game consoles and other such electronic gadgets at Walmart. Inflation and teething trouble for the government has led to prices rising in Iraq.
The romance and charm of shopping in any market in Iraq has not diminished one bit. The improvement in the global economic condition will, hopefully, cool prices in the markets of Iraq as well. That will soon make the experience of shopping in the markets of Iraq with 25000 Iraqi Dinar notes a lot more enjoyable.
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Written by Darren Chabluk for http://DrDinar.com
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