Will Iraq’s Dinar Revalue Like Kuwait Dinar?

Will Iraq’s Dinar Revalue Like Kuwait Dinar?

Iraqi dinar might have gone through a lot of struggles but, it never has considered giving up. People are quite skeptical if whether dinar will revalue like what Kuwait achieved or not. No one might actually know when. However, we might want to consider a little history of what once was called the Great Babylon against Kuwait’s.

Brief Dinar History

Way back 1992 Iraqi Dinar was about 3.22 US dollar. However, after the Gulf War its value rapidly dropped to about 0.30 US dollar right under the United States Embargo – a tragic drop that tagged along frustrations not just to the Iraqi citizens but also to a lot of foreign investors who took part of the economy of the country. 2003 was also a year that tore most of Iraqi entrepreneurs apart. This was when the US led an invasion in the premises of the country that drove away a lot of opportunities. In 2010, the exchange rate dropped to a distressing 1170 over the US dollar.

Fortunately, our dinar notes have gone a lot of improvements that they have gone on international trade along with the hard currency. If the tide might continually go so well with the dinar notes and they go back to pre-war levels of just about 0.30 US dollar, your 1000 dinar notes would be equal to 300 US dollar. How’s that for an exchange of currency?

Iraq’s dinar can also reach Kuwait dinar

Throughout the dinar history, Kuwait dinar is one of the most successful currencies ever recorded. It underwent a lot of developments. The first Kuwaiti dinar was printed in 1961 where it bore the image of the late Amir with the signature of the late Chief of Kuwait Financial Council.

When Iraq invaded Kuwait, its dinar rapidly declined that one Kuwait dinar went equal to 10 US cents. Fortunately, on 5
th of January year 2003, its value went to a significant change that it raised to 0.2996 against the US dollar.  It even went to 5 phases of changes from 1968 to 1994. It was on April 3, 1994 that the nationally acclaimed and approved banknotes were finally accepted and circulated. The country was able to build high technology and techniques to prevent counterfeit currency which were used for domain manufacturing. This great achievement by the Kuwait Constitution influenced all aspects of Kuwait life that encouraged the Central Bank of Kuwait to release its gold and silver coins on national events as commemoration to the people who took the courage to grant a significant change to the country specifically to the Kuwaiti banknotes.

This made it as one of the most valued currency in the world translating it into 0.34 per dinar. Now, the world is expecting the same with Iraq’s dinar. With efforts to release the country from Chapter VII, guidance from the US Government and an oil rich land with ever growing international demand, even experts admit that (if given time) one dinar can go back to its former value against the hard currency. Sooner or later, Iraq might even exceed what experts have been conceptualizing.

This article may be reprinted offline or
online as long as this ad remains and
is hyperlinked online.  DrDinar is
founded on integrity in Dinar intel.

Leave a Reply