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Iraqi Dinars - Special Report
Chris Papatheofanous is PortAl Iraq's exclusive dinar trading associate. She became an Iraqi dinar trader “with one goal in mind”: to educate herself and her buyers on the incentives for investment in Iraq.
Papatheofanous and her husband, Egidio Abate aren’t alone in their mindset--“everyone,” Papatheofanous said, “is very excited about Iraq's new banknotes, mainly because they had and have a very important story to tell.”
And the duo’s story begins in November 2003, with a partnership offer from a Jordanian supplier in the sale of Iraqi dinars. “The new Iraqi currency had just been issued on October 15, 2003, and was very much in demand on eBay,” Papatheofanous said. The prospect of selling the new dinars beat the couple’s former occupation of selling old “Swiss” Iraqi dinars on eBay.
The new Iraqi currency
The new dinar had replaced older notes that displayed Saddam Hussein's image. One old dinar was exchanged for one new dinar; one “Swiss” dinar was exchanged for 150 new dinars.“This was a great chance for us to expand our business, and therefore we decided to embark on the road of new dinars and see were it would take us,” Papatheofanous said.
Increasing demand for the Iraqi dinars
Since the production of the new bank notes, the international demand for the new Iraqi dinar has continued to rise. Papatheofanous attributes the increased demand to the newfound enthusiasm amongst investors through the flow of investment information (highlighting the popularity of business websites such as PortAl Iraq) and a series of events (most notably the authorization of six Western Banks to work in Iraq).“I strongly believe that when banks make a market for the dinar, its value will increase,” Papatheofanous said.
In addition, Papatheofanous attributes the Iraqi dinar’s current value, potential rate of return and Iraq’s position as the second largest oil reserve holder in the world, with 95 percent of Iraq’s Pre-Gulf war foreign exchange earning coming from exported oil.
Papatheofanous acknowledged how “remarkable” Iraq is as a postwar country, stating that “even in the midst of chaos, scandals and physical violence, the dinar has managed to appreciate by 25 percent in value.”
The “all-time low” of the dinar, according to Papatheofanous, also appeals to investors. “Investors are very aware that they are buying the dinar at a postwar level; therefore, it has captivated a broader spectrum,” Papatheofanous said. “Anyone can afford it, regardless if they are big or small investors.”
Investors are willing to take the “minimal” risk, Papatheofanous argued, because it is “well worth it, considering that this little investment might render them millionaires one day.”
Excellent security features
And--further encouraging the dinar demand--are the note’s security features: watermarks, metallic inks, safety strip, color changing symbol, raised lettering and writing that is only visible in ultra violet light.“When there is confidence in any currency, stability and growth are the next to follow,” Papatheofanous said.
"Thanks, Chris, for your great service! I especially appreciated your prompt phone call to answer my questions BEFORE I purchased through you. The notes are beautiful and uncirculated. The tracking of the shipment was 100% accurate and uneventful. I've told my friends about your service and they are very intrigued, and will soon purchase through you as well! Here's to a very prosperous future for the people of Iraq!"
Bruce, AZ,USA (3 Million Dinar) Read more...
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