Iraqi Dinar Revaluation – Projections For the Future

 

Financial experts and the economists are of the opinion that the economy of Iraq will bounce back and the Iraqi Dinar will revalue and reach a value of three Dinars per one U.S. dollar. They believe that the economy of Iraq is likely to reach good heights by 2013. Currently, the worth of one million Iraqi Dinars is less than thousand US Dollars. There was a time when the worth of one million Iraqi Dinars was equivalent to 3,000,000 US dollars.

Remember, Iraq was has vast reserves of crude oil and many areas Iraq has not been geologically explored using the latest and modern seismic techniques. Today, Iraq has minim of 115 billion barrels of crude oil reserves and this figure is as per old surveys. However, the government of Iraq has publicly stated that Iraq has large reserves of petroleum and its reserves could be the largest in the world.

Financial analysts are of the opinion that even if the worth of the Iraqi Dinar were valued at 0.26 U.S. Dollar (this is the lowest valued currency of the mainstream Middle Eastern Countries) then one million Dinars would be equivalent to 260,000 US Dollars. The studies show that since late 2003, the economy of Iraq has shown signs of recovering and there has been a steady increase in the conversion of natural resources. This in turn has steadily increased the value of currency.

One also needs to remember that there is a global oil shortage and the prices of crude oil are soaring. Today, currencies of the oil-rich Middle Eastern countries are much higher than the Iraqi Dinar. The economies of India and China are growing and will continue to grow. And there will be great demand for oil which will increase the value of the bank notes. Hence, there are strong indicators that the currency will continue to grow in value and be revalued to keep up with the growth of the Iraqi economy.

Related Posts




Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!



10 Most Popular Search Terms