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Iraqi Dinar - Frequently Asked Questions

Individuals considering buying or selling Iraqi dinars are urged to obtain additional information from a licensed financial professional , and to ask specific questions concerning the risks as well as the opportunities of such an investment. WE ARE NOT ACCREDITED FINANCIAL ADVISORS AND THE ANSWERS AND LINKS PROVIDED ON THIS WEBSITE ARE FOR INFORMATIONAL USE ONLY. Please read our terms and conditions for more information

Iraq's Economy and Banking

Where can I track the exchange rate of the Dinar?

The most accurate rate is probably on the Central Bank of Iraq website

What banks have been granted permission to go into Iraq?

HSBC
Standard Chartered
National Bank of Kuwait
Iranian National Bank
Commercial Housing Bank
Bahraini Arab Banking Institute
For more official information on banks in Iraq

Some relevant articles:

Are there any western banks selling the dinar?

Added November, 23, 2004: We have heard scattered rumors that a couple of western banks have started selling the dinar. We cannot confirm this information but please be aware of this.

Where can I find more info about the Iraqi economic and financial situation?

Our service

Are your banknotes authentic?

All of our notes are 100 % Genuine with prominent security features, in Crisp UNCirculated condition, and are obtained directly from Iraq.

What is your current quote?

You can see our prices for the 25,000 note (most popular) here.

Can you handle very large orders?

Yes. We can handle any amount requested. We offer special prices for large quantities. Contact us for more information.

How long will it take for the Dinars to arrive?

On average, 5 - 8 working days once payment is received. Some delays occur from time to time, we promise to keep you up to date and help you track your new dinars until they are safe with you.

I see that the current exchange rate is different than what you charge for the dinars. Why the markup?

If you know anybody willing to take the risk to fly to Iraq just to buy dinars or you know Iraqis willing to send your currency from there, then the current official exchange rate is indeed the fair price. We charge this markup to cover our shipping costs, time, bank charges, phone bills, website maintenance, salaries, and most importantly risk costs. You are paying a high premium for our supplier to take the risk and drive from Jordan to Iraq and back in one piece. As you know, Iraq is not a stable place and you need to be very motivated to venture there.

Do you ship worldwide?

Yes. We have flawlessly shipped our dinar packages to the United States, United Kingdom, Canada, France, Belgium, Germany, Sweden, Switzerland, Japan, China, Puerto Rico, Guam, and Singapore. We will be happy to send to any country but please check with your country's customs whether you are allowed to import currency.

Do you accept other currencies than the USD?

No. We accept payments drawn on USD only. You can exchange your local currency in USD at your bank.

The investment's potential

When do you think IQD 1 = USD 1?

We are not accredited financial consultants and do not offer investment advice and therefore are unable to give you advice about when we think the dinar will be worth a certain amount compared to the dollar. You must remember that Iraq is a post-war country and is very unstable. We cannot predict the future; it is very difficult to make economic projections for a post-war nation.

How will I sell the Iraqi dinars in the future?

Iraq is a post-war country and its financial institutions are ruined and are in the process of being reconstructed. To sell your dinars, you would need to work through a bank that trades Iraqi Dinar. We do not believe that there is a western bank that currently trades the Dinar and we cannot guess when banks will start trading this currency. We estimate that once the Iraqi economy is back on its feet and the Dinar is traded internationally, you will be able to sell your Dinar to your bank. In the mean time, however, we do not guarantee that you will find where to "cash out" and sell your dinars. The lack of liquidity in this investment is one of the biggest risks you take when you invest in the Dinar.

What kind of taxes can i expect to pay when cashing in iraqi dinar in the USA?

Please check with your accountant. We cannot give you a fair answer as we are not financial advisors or certified public accountants and do not know the tax laws of you country.

How soon will my investment in the Iraq dinar pay off? When do you think the 1 dinar = 1 USD? How fast do you think I will multiply my money by a factor of 2, 10, 1000?

We are not accredited financial consultants and do not offer investment advice. Our service is to bring Iraqi dinars from Iraq to you. We do not know when and if the dinar investment will pay off; it depends on many factors including the security and political situation in Iraq. We strongly suggest you do your homework and learn the risks and potential rewards this investment offers.

Are there any risks investing in the Iraqi dinar?

Many. Iraq is a postwar country and is currently unstable and investing in Iraqi dinar is risky. Invest only what you can afford. Consider this investment as the most risky part of your portfolio.

Is it legal to ship foreign currency to the USA? What is the limit?

We are not accredited financial consultants nor tax accountants and do not offer investment or legal advice. Yes it is legal and there is no limit to the amount of currency that you bring into the USA. However, when a person brings more than $10,000 American Dollar worth of currency into the USA, they must file a "Report of International transportation of currency or monetary instruments" (FinCEN Form 105)).

Misc

I have some old "swiss" Iraqi dinar, where can I exchange them for the new dinars?

You may want to read about the exchange of new Iraqi dinars for old Iraqi dinars here.

I still have a question unanswered.

Ask now and we will answer within maximum 24 hours

"Chris, Sorry for the delay in responding to your request to share my experience with your company. I've been in transit and not checking my email daily, however, I would like to thank you so much for the high standard of professionalism you've shown in communicating with me, and with working with me to get the Dinar I purchased to me on a specific date, since I was in transit. It arrived right on time, on the correct day, just as we had discussed on the phone. You are amazing to have orchestrated that so perfectly, and my confidence in your company is very high. As soon as I get back in Alaska I will be purchasing more Dinar from you. I have great confidence as well that the Dinar will eventually be worth a great deal of American dollars, and I will hold onto it until it does. I look forward to doing business with you again shortly, and am recommending you to all of my associates. Thanks again. Robin of Alaska"
Robin, FL,USA (2 Million Dinar) Read more...

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