Is the new Iraqi Dinar ever going to appreciate again.....I have over 3.5 mil Dinars from my service in Iraq?

Question

Will the Iraqi Dinar ever go up in value as the Kuwaiti Dinar, Iraq is bigger with way more Oil, but also has violence thats off the charts. I guess I'm trying to get wealthy in 10 years.

Answer 1

No...you've got about $2800 USD.  I'd cash it in as soon as possible.  The value of the Iraqi Dinar is about .0008 USD.  Good luck.  I wouldn't keep my hopes up of their currency going up any time soon.

Answer 2

No, unlike a stock currencies do not appreciate over time.

In fact due to inflation they are worth less every year. Oil, violence or business doesnt matter at all when it comes to currencies, the only thing that matters is how much currency the government prints, the more it prints the less its worth.

Can the Iraqi dinar ever equal the dollar, sure it can. But not because it goes up in value, (since all those dinars have already been printed). It can achieve parity only if the dollar collapses and is also worth next to nothing. Then you would indeed be a millionaire, but it would be pretty much be meaningless.

Answer 3

Unlike someone above me said, money does indeed increase in value depending on the issuing country's overall wealth, the number of bills in circulation and its tradability throughout the world.  Just look at the Deutschmark from n**i Germany during WWII.  The Germans printed a lot of bills "knowing" that they were going to find more wealth for the country.  Well, their wealth remained the same as the war dragged on, but the bills kept amassing which ended up depreciating them to a point of worthlessness.  Once the war ended, millions and millions of bills were destroyed, thus increasing the value of the ones remaining.  As Iraq becomes more stable and their GNP goes up, the Dinar will slowly increase in value, and as more and more of the bills go through the bank, millions of them will be destroyed which will also increase the value.

There has also been constant talk of a re-valuation of the Dinar for years, but as of now it has not happened.  Once the government within Iraq stabilizes and the banks are free to trade with the rest of the world, the value of the Dinar will increase exponentially.  You currently have a little over $2,000 in your hands, but if you hold onto it for a while (5 or 10 years) it is completely possible that you could retire.  

Or you could do like the first answer tells you to and "cash it in" as soon as possible, but you will find that is harder to do than one would think.  There are no banks in the USA that will take them right now.  The best you could hope for is to sell them on eBay.  Good luck to you either way.