Is the Iraqi dinar worth more than the US Dollar?
The potential for an Iraqi dinar revalue could be a game-changing event.The currency could be taken out of the global currency basement and put back up on the main floor, where it had been for decades up until 1991.
With or without revaluation, the weaker currencies have more upside potential than the more established ones.There are a number of situations that could improve the exchange rate of Iraqi dinar if they changed significantly.
The Iraqi dinar has tremendous profit potential.Whether or not Iraqi dinar re value is a big part of that anticipation.The currency has been in a very narrow range.While the currency has shown stability, the likelihood of an increase in value compared with other currencies, particularly the US dollar, is heavily dependent upon Iraqi dinar revalue potential.
The presumption is that the Iraqi dinar is much higher than it is right now.That is a distinct possibility, when you consider the energy potential of Iraq.It's true with both oil and natural gas.Iraq has the fifth largest oil reserves in the world, estimated at more than 143 billion barrels.
Is the Iraqi dinar going to revalue soon?It is anyone's guess at this point in time.The country was invaded by the US in 2003 and is currently in a consolidation phase.Existing institutions are being improved upon.It takes a long time and costs a lot.
There is an excellent chance that the Iraqi dinar will go up in value.Iraq has nowhere to go but up, apart from the situation with oil, which is the country's main product and leading export.The country has had to rebuild from the ground up after the war.
A massive rebuilding effort is underway after the war and civil conflict.There is greater hope for the future of the country as the infrastructure continues to improve.The improvement that seems to be going in fits and starts in the present could very well be building a national economic boom of the future.
It depends on the internal political situation.It has been stable in recent years.The current political regime is propped up by the continued US involvement in the country.There is a lot of speculation about the future of the country's leadership.
There are a lot of local conflicts in the country due to both regional and religious divisions.Iraq has had weak leadership thus far.If the country can develop that kind of leadership, there is a good chance that Iraqi dinar will be even higher in the future.
The question depends on what factors affect dinar revaluation.The price of oil is the biggest variable.Russia, Saudi Arabia and the United States produced more oil in 2016 than Iraq.Iraqi produces less oil than the United States, with a production of 4.5 million barrels per day.
Despite the country's current economic and political troubles, oil wealth looms large in its future.Iraq could be improved by a sudden spike in oil prices.Iraq could be well-positioned if the global supply of oil is disrupted.Iraq could prove to be a major source of oil in a disrupted distribution chain since it is currently a stable oil- producing nation.
Iraq could potentially increase its share of the global oil trade.The location and quality of the country's oil makes it easy to get to.
A significant increase in oil could change the outlook for the Iraqi dinar.If some of Iraq's neighbors become less reliable in the future, this will be more likely.
Increased oil prices and relative stability in Iraq could increase the flow of foreign capital into the country.It would boost the value of the currency several times higher than it is now.
Despite the current limitations in Iraq, the country's enormous oil wealth could very well prove the detractors wrong and send its currency rocketing higher.
There has been no significant news regarding a potential revaluation of the Iraqi dinar.The country is trying to consolidate.It is likely that the Iraqi dinar has been kept low.As most investors know, countries either keep their currencies low compared to foreign currencies or devalue them in an effort to encourage domestic growth.
The political and economic dynamics of the area are likely to change sooner or later.The Iraqi dinar will benefit greatly when they do.
If there is a long-term spike in oil prices, this will be true.The current weakness in oil could prove to be weak.Over the past 40 years or so, oil has gone through several cycles of low prices.There is always a big surge in the price.It tends to happen quickly and substantially when it does happen.It would take just a few months for oil to go from $50 a barrel to more than $100.
The Western industrial democracies are dependent on imported oil.Higher oil prices will benefit Iraqi dinar, but they will also make Iraq a more desirable place to invest and to do business.The combination of factors could cause the currency to go up.
Iraqi dinar has strengthened slightly against the US dollar in the past week.It was 1,166.08 IQD as of October 11.One week ago, the exchange rate was 1,169 IQD.It is a step in the right direction to increase the dollar value of Iraqi dinar.
The Iraqi dinar has been stable against the US dollar.A gradual devaluation of the US dollar could be a significant driver for Iraqi dinar.Iraqi dinar can rise by default.
The Iraqi currency would still be increasing against the dollar even though it wouldn't be rising based on internal strength.US investors who hold the majority of their assets in dollars would see an increase in their Iraqi dinar holdings.
An Iraqi dinar revalue situation could improve the exchange rate even more.It is possible for the dinar to increase in value against the US dollar without the revaluation.
The Iraqi Dinar exchange rate history does not support higher valuations in the immediate future.Since the 2003 US invasion, we have looked at the currency.
It is easy to forget that before the Gulf War in 1991, the dinar was trading at an all-time high.The currency was 4,000 times more valuable than it is right now.
Since the early 1970s, the currency had been very stable against the US dollar.Since the Gulf War, the currency has fallen into exotic currency status.