Iraqi Dinar Revaluation: Cold Truth About The Dinar Increasing to $3 USD
Information Only. Not Financial Advice A friend of mine asked for my help to manage a windfall of money she was going to be receiving soon, based on the revaluation of the Iraqi Dinar. I had not heard of this, so I did some research. Below is a summary of my findings and I’m sharing this so those considering speculating in exotic currencies can do so with full understanding of the risk and with realistic expectations. Key Words There are several key words that must be understood before a grasp of the subject of “Currency Exchange” is possible: Currency - A currency's value is determined primarily by supply and demand in the foreign exchange market, meaning its price fluctuates based on how much people want to buy or sell it, with key factors like a country's interest rates, inflation, economic stability influencing the demand for that currency; essentially, when demand is high, the currency value increases, and vice versa. Closed Currency - A closed currency is a type of curr...