You may have heard of dinars, which are the currency of the country of Iraq. This form of currency has risen in popularity in recent years, thanks to the value of it versus the US dollar.
Currently the Iraqi dinar is worth much more than the US dollar because it didn’t follow US currency devaluations in 1971 and 1973. That made the value of rise to almost three dollars and forty cents.
The Iraqi dinar exchange rate is pretty high, which is why it has become so popular as a form of currency. Especially after the Gulf War when Iraqi currency was printed locally and in China, using cheap paper made from wood pulp and crappy lithography.
This cheap form of making the currency is why it was able to be valued so highly. Printing dollars is a much more expensive process.
Because of the rise of popularity in buying dinar, the Central Bank of Iraq has issued dinars in values of 50, 250, 1,000, 5,000, 10,000 and even 25,000. The 10,000 banknotes were to be used for larger, and inter bank transactions.
Some of the banknotes from 1986 and the years from 1990 to October 2003 contain an idealized engraving of Saddam Hussein, former President of Iraq. If you have a banknote like this, hang on to it, as it could be worth something someday, other than its current face value.
Because of its popularity, that is why Iraq currency is available for sale, and people will buy it so they can order items overseas and get more for their money. It is an easy way to stretch their dollars, especially during a time in history when the dollar is at its lowest value ever.
Trackback from your site.