Finding the value of the Iraqi dinar can be done through an online currency converter or through a news organization's financial section. Unfortunately, not all news agencies track all currencies, so a more in-depth search may be required.
While no one can predict exactly when the Iraqi dinar will rise in value, the level of political and economic tension Iraq faces often indicates the value of the dinar. When Iraq gets more deeply involved in political and military conflict with other nations, the dinar's value typically plummets.
Currency dealers typically sell Iraqi dinar to investors who are banking on the hope that the currency will eventually increase in value. This transaction, however, is ill-advised due to the dwindling state of Iraq and its links to being a scheme, according to Forbes.
Up-to-date exchange rate information can be found for the Iraqi dinar at XE.com. XE.com uses information from global foreign exchange markets to calculate the current value of all of the world's currencies.
According to a May 9, 2014, report from Huntsville, Ala., WHNT News, it is possible that one or more small U.S. banks trade in Iraqi dinars, but the station was unable to locate a bank that does. Wells Fargo Bank and Bank of America state on their websites that they do not deal in the dinar, and HSB
The Iraqi dinar scam tricks victims into believing Iraqi currency is about to undergo a revaluation, encouraging them to exchange their dollars for dinars. The scammers usually rely on fake websites and news reports to provide hype, and draw comparisons to the rise in value of the Kuwaiti dinar afte
Currently no US bank will exchange Iraqi Dinars. They can be exchanged through ebay.com, private collectors and some international banks, including the Central Bank of Iraq.
Investing in Iraqi dinars offers no benefit to Americans. The federal government and multiple state governments classify Iraqi dinars investments as scams. The Federal Bureau of Investigation encourages investors contacted about Iraqi dinars opportunities to file a report.
The current exchange rate for the Iraqi dinar is available from XE, Google Finance and Yahoo! Finance. These exchange rates are updated in real time. The exchange rate listed on the Central Bank of Iraq compares the dinar to a limited number of foreign currencies and is updated on a daily basis.
Most major banks in the United States are able to perform currency conversions between dollars and Iraqi dinar. Some of the banks that offer this service include Wells Fargo and Bank of America.