Table of Contents
Is the Iraqi Dinar investment legit?
The Iraqi Dinar Investment Scheme is a scam as it is considered a Ponzi scheme targeting many people worldwide. There are many reasons to support the claim, and some of these reasons are mentioned below.
Why are people investing in the Iraqi Dinar?
Investing in the Iraqi Dinar Basically, it would be like investing in any other currency: you purchase X amount of Iraqi Dinars (IQD) by paying some amount of US Dollars (USD). This would create more stability and economic growth for the people of Iraq, leading to the an increase in value of the Dinar.
Is it illegal to buy Iraqi Dinar?
It is illegal in the U.S. and most other major economies to market an investment without appropriate securities registration. The scammers get around this requirement in two ways. First, it is technically legal to sell hard currency for its numismatic value.
Does Iraqi Dinar have any value?
Iraqi dinars do not trade on global forex markets: The value of the dinar is currently set through an auction process by the Central Bank of Iraq. As the dinar does not trade on global forex markets, its value is set by government edict rather than by supply and demand as it is for freely traded currencies.
How do I get rid of Iraqi Dinar?
Sell your dinars to banks. There are several banks in the Middle East that will purchase dinars. Three of these banks are the Central Bank of Iraq, the National Bank of Jordan, and the National Bank of Kuwait (see Resources). You will need to contact the banks directly and discuss their policies and procedures.
Where can I sell my dinar?
Will the dinar revalue 2020?
There are confirmed news items that Iraq did plan to redenominate its currency, but not revalue. 9 In the absence of any revaluation, there is going to be no change in the forex exchange rate of Iraqi dinar IQD (with or without redenomination).