January 3rd 2012
I have been trading the Iraqi Dinar since March 2003 and am one of the oldest Dinar Dealers in the world . We have never written nor followed any bulletin board nor other posts on so called overnight , magical “RV” – Revaluation of the Iraqi Dinar . We do believe in long term appreciation of the Dinar against traditional currencies such as the Euro and US Dollar which we have steadily seen over the past 9 years but urge caution in believing in dramatic overnight currency increases . With this in mind , BEFORE investing in Iraqi currency , please conisder this :-
1. Investing in any currency is a HIGH RISK investment – only invest what you can afford to lose .
2. Be fully informed of the political and economic situation of the currency you are buying.
3. Bear in mind that the Iraqi Government has CLEARLY stated VARIOUS times over the past year that they intend deleting 3 zeros from the current Iraqi money . ie. a zero lop in order to ease financial transactions as written about previously in my blog .
If this was to become a reality we will make every effort to exchange the old currency for the new ones for our clients provided we have a sufficient time window and it is carried out in and orderly and patient manner and provided the appropriate authorities allow us to move the old and new currencies freely . We are not responsible in any way for sudden chnages in government policies towards movement of currencies nor any change of currency overnight .
We strive to serve our customers needs but there are limitations to which we can act at times and this needs to be borne clearly in mind .
For this reason we have clients whom we have recommended in the past purchase Call Optiosn through us as well as hold cash within the Iraqi banking system , but equally like any investment , this too comes with risks .
We still belive the long term potential for Iraq is good and over the long term the currency has good potential for appreciation , but all the above mentioned factors must be taken into account before making any decision to purchase the currency . Certainly not on rumours spread over social media and bulletin boards .
3rd January 2012