War, shootings, bombings, torture, and death… When you think of Iraq, the picture that comes to mind is, more likely than not, disturbing. For the foreseeable future, violence in Iraq is without end. It is shocking then that, according to Turkish newspaper Hurriyet Daily News, tourism in Iraq is on the rise, and prospering more than ever. What does this mean for Americans?
There are large populations of Iraqi born foreigners in the United States, especially in California, Michigan, and Illinois. With over 2 million tourists flocking to Iraq in 2012, now is the time for these populations, and others, to buy iraqi dinars and feel confident in Iraqi dinar investment. The dinar was worth approximately $3.21 from 1971 to 1973, and the exchange rate continues to become even more economical. With a fairly low exchange rate, Iraqi dinar investments do not come with high risks, and that is more than good news for American investors. The Central Bank of Iraq encourages financial transactions as well, especially large scale ones. As of 2002, banks can now deal in 10,000 denomination dinars.
Whether investors land bills with Saddam Hussein on the front, meaning dinars issued from 1990 to 2003, or modern bills with any number of colors and denominations, the unlikely boom in tourism means that now is the time to do it.