Recent current events have led many Americans to take an interest in the nation of Iraq. Iraq is known as the Cradle of Civilization, because it is the historical location of the first prosperous human civilizations, located in the Tigris and Euphrates River Valley. With constant political and business involvement with the country, many Americans have found the benefits of investing in the Iraqi dinar. The current Iraqi dinar exchange rate to U.S. dollars is about 1160 dinars to $1. The dinar has been trading around that level for most of 2013, and has not reached this level consistently since late 2008. This has much to do with increased stability in the region after several years of constant warfare and a return of businesses and foreign investments. As it continues to grow stronger, there is no time like now for Iraqi dinar investments.
Here is a little more information on the iraqi dinar exchange rate history. The dinar replaced the Indian Rupee in 1932 as the national currency of Iraq, which had been since British occupation following World War I. The Iraqi dinar was initially strong and pegged at equal to the British pound until 1959. It was then, without changing the value, pegged at equal to 2.8 U.S. dollars. By not following the devaluations of American currency in 1971 and 1973, the dinar rose to a value of $3.3778. The dinar remained just over 3 times as valuable than the U.S. dollar up until the First Gulf War in 1989. International sanctions that followed and excessive government printing of a new note led to an almost immediate astronomical inflation and devaluation of the dinar, hitting a low of 3000 dinars to $1 U.S. in 1995.
The nation of Iraq is in the midst of a long road to recovery as is it’s currency. The Iraqi dinar exchange rate history is full of ups and downs and a once promising strength. As Iraq rebuilds from recent military conflicts, so does the dinar. By investing in dinars now, the way they have been growing in the recent past, one can only imagine how much they will be worth as the value climbs ever towards former peaks. Continue reading here: www.gidassociates.com