CELEBRITIES THAT INVESTED IN THE IRAQI DINAR
Iraq is quickly approaching a historical milestone. Most of the 133,000 US troops present in the emerging nation are due to have moved from Iraq's cities and towns to military bases by 30 June. Iraqi Prime Minister Nouri al-Maliki said the withdrawal of US troops from Iraq's towns and cities by the end of this month would be a "great victory" (BBC online, June 22, 2009). The withdrawal is part of an agreement that will see combat operations across Iraq end by September 2010 and all US troops out of the country by the end of 2011. While Iraq is reaching this historical milestone, DinarBanker.com, the leading buyer and seller of Iraqi Dinar online has sold its one hundred billionth Dinar this month.
Investors are purchasing Iraqi Dinar because Iraq continues to stabilize and has significant wealth as the second largest oil reserve holder in the world with reserves worth over $10 trillion at the current market value. This combined with an all-time low price of the dinar (see Iraqi Dinar history) is driving sophisticated investors into diversifying their investment portfolios and investing Dinar. Donald Trump has been rumored to have invested aggressively in the new Iraqi currency (Boston magazine, October 2006). As of today the internal exchange rate is 1,169.00 Iraqi Dinars = 1 USD or 1 Iraqi Dinar = 0.000855 USD. Since the creation of the new Iraq Dinar, in October 2003, the international demand for the new currency has steadily increased.
Investors buying the Iraqi Dinar are counting on the rising purchasing power of the new currency on its road to internationally recognized currency status. Iraq continues to increasingly benefit from International support, backed by the major industrial nations from around the world, pledging trillions of dollars for reconstruction of the infrastructure, including: power, water, road and highways, IT and phone systems, and health and human services. The U.S. is among the leading industrialized nations contributing massively to this international support. The United States has pledged over $18 billion, military and civilian support, debt relief and economic ties that will give Iraq the capability to develop its potential as a $70 billion a year economy, which will be second only to Saudi Arabia.
Ty Rhame, Co-President of DinarBanker.com states: "As a very large investor of the Iraqi Dinar, I'm surprised the Iraqi Dinar has not made larger moves in the last 6 months--I believe something big is just around the corner."
The International Monetary Fund (IMF) will provide Iraq with a $5.5 billion 5-year standby loan, which Iraq will be able to draw down in three installments (Reuters, June 16, 2009). Additionally, large oil corporations are aggressively trying to lock up oil deals and even multinational financial institutions are seeking a stake in the emerging economy. The Middle East arm of HSBC, seeing great potential in Iraq, is planning to expand its banking operations as security and the country's legal framework improves. "We're only scratching the surface as far as I'm concerned," HSBC Bank Middle East chairman Youssef Nasr said. "Even though the situation has improved on the security front, the size of the economy, the activities in which we can get involved is still a fraction of what is to come." (Reuters, June 11, 2009)
"The upside to investment in the Iraqi Dinar could be substantial once recognized by the IMF," says James Shaw, Managing Partner for DinarBanker.com.
DinarBanker.com, established in 2004, is one of the largest and most experienced companies for anyone looking to buy Iraqi Dinar online, offering next day delivery of the Dinar purchased. The Atlanta, Georgia based, Iraqi Dinar company is registered with the US Department of Treasury as a certified foreign currency business. As Better Business Bureau (BBB) member, DinarBanker.com has an impeccable reputation backed by its satisfied customers. DinarBanker.com understands its clients investment needs and is always ready to assist with a 24/7 customer service.
For more information about DinarBanker.com or if you would like to purchase Dinar or sell Dinar from the comfort of your home, please visit www.DinarBanker.com.
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