Inquire which safety measures the selling service or platform offers to you. Then, you can check its efficiency through research and decide accordingly. If you are directly selling to a buyer, make sure to verify the information they provide.
You can maintain a systematic and proper record of all your transactions while selling Iraqi Dinar. It keeps track of all your discussions and activities with the service. You may also note down the negotiations and other helpful information. Make sure to include the dates and correct amounts. The record can serve as your proof in case the deal goes wrong. Additionally, it allows you to keep tabs on everything.
The service cannot try to trick you or deny any previous claims. Moreover, it helps you learn from your mistakes. Or you can check which selling strategies work and try to improve them. It is crucial to ensure safety and security before you involve in trading or financial transactions. If you plan to sell Iraqi Dinar, make sure to take the above precautions. Avoid getting into any deals that seem suspicious or refuse to show valid proofs.
Sign in. Forgot your password? Get help. Create an account. Password recovery. The World Financial Review. Go to top. The views expressed in this article are those of the authors and do not necessarily reflect the views or policies of The World Financial Review. November 9, Sovereigns in the Courtroom: Is the U. October 18, July 27, Is this the end of trickle-down economics? May 13, For the U. In Iraq, prices are quoted both in dinars and dollars, but many prefer the greenback, locals interviewed by Reuters said.
Saja Majeed, a year-old civil servant in Baghdad and a mother of two, said she carries dollars in her wallet because it is safer and she sees little opportunity for the dinar to rise. Revaluation will only happen once the Iraqi government stabilizes. America investors are remaining patient. Emerging Markets Updated.
Financial scams usually have certain characteristics that can be identified with a bit of research:. In the case of the Iraqi dinar investment scheme, there might be additional red flags :. All these factors give rise to further doubt. Forex refers to currency trading and currency pairs. If your expectations come true, and the exchange rate improves to a hypothetical value—say one U.
But what happens if the dinar takes the opposite direction? Now your invested holding of 1. It mentioned the International Compact with Iraq , which was interpreted in multiple ways and led to further speculation in the Iraqi dinar currency trading.
The article further states:. Civil war, regional fights, and western countries staying away are major concerns of current Iraq, with the extreme possibility of the country splitting into three separate regions.
If that happens, the payday may never come for investors holding the Iraqi dinar and waiting for value appreciation. Backed by the oil reserves , Iraq has the potential to spring back and establish itself as a stable economy. It managed to do so after the eight-year-long Iran-Iraq war.
But that will need a peaceful, promising business atmosphere to establish investor confidence, which will, in turn, help revive its economy and bring back the IQD forex rate to less depressed levels. Now to the other side of the coin:. There are signs indicating that Iraqi dinar investments are nothing more than a hyped scam.
Additionally, some incorrect statements are heavily publicized by the propagators of Iraqi dinar Investment schemes incorrect statements in italics :. Supporters of Iraqi dinar Investment are reported to be confusing two economic terms: Revaluation and Redenomination. Revaluation is the calculated adjustment made to a country's official exchange rate relative to a chosen baseline, such as gold or the U. After a revaluation, a currency becomes expensive relative to the base currency by the factor of adjustment, and hence the process changes the purchasing power of that currency.
Redenomination is done in case of high inflation levels by old high-value notes being made equal to new small value notes e. Redenomination simply drops off the zeroes keeping the purchasing power the same as before. There are confirmed news items that Iraq did plan to redenominate its currency, but not revalue. 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.
Economists also point out that it would not be beneficial to the Iraqi economy to allow any such value appreciation by the authorities even by means of revaluation. These choices will be signaled globally to our partners and will not affect browsing data. We and our partners process data to: Actively scan device characteristics for identification. I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation.
This compensation may impact how and where listings appear.
0コメント