Can anyone validate

[waitn]

I have a friend who says that he bought dinar back in 2006 or 07 for under $700.per million. A dealer is telling us no way that is possible. Can anyone validate those prices?

[pokerplayer]

I have a friend who says that he bought dinar back in 2006 or 07 for under $700.per million. A dealer is telling us no way that is possible. Can anyone validate those prices?

If he bought in Iraq, quite possible. I remember when it was 1469, so yes he may very well of.

Cheapest I bought for $720 per million.

Hope this helps, pp

[FlintNPebbles]

Could be from in country. My husband brought ours back from Iraq when he was deployed there. We got just over a million for just under $700. He had been told it was $700 for the million and when the guy came back he gave him an extra 100,000 because it was the correct price.....we have had it a long time

[old timer]

i bought mine in dec of 03. (but try edinarfinancial.net) good luck

[stmbulldogs]

I think you were telling your story to your friend as it took place in this year. Dinar prices were at 4000:1 at one point. May not be the same conversation I am talking about, but if it is, then I have to side with VD. Your statement implies they were bought recently at $672.00.

[Shane19]

In 2005 when I was working in Kuwait, we got it for about 400.00 for a million at market in Mahboula district. Now you could always go to the airport and pay 6 or 7 hundred for the same amount at that time.

[aragav8r]

My 1st cost $420.oo and the next couple were $480.oo , during the 2003/2004 during R&R;s down in Q8.

[GI_Jane]

I have a friend who says that he bought dinar back in 2006 or 07 for under $700.per million. A dealer is telling us no way that is possible. Can anyone validate those prices?

I bought my million in Iraq for about 650.00 in 2004, so I can definitely verify it was possible.

[chilli24]

I bought for 670 in 2005, so I would thinkit is probable that they bought under $700.

[CaptainWingnut]

I have a friend who says that he bought dinar back in 2006 or 07 for under $700.per million. A dealer is telling us no way that is possible. Can anyone validate those prices?

Here's some history on the value of the Iraqi Dinar.

This information is available in any history book (or online).

In 1932 the Iraqi Dinar was valued at: $1-IQD to $4.86US

1949 to 1971 the Iraqi Dinar was valued at: $1-IQD to $2.80US

1973 saw the IQD gain strength against the USD only because the USD was devalued

as the US went off the GOLD STANDARD. $1-IQD to $3.3778USD

Iraq made a 5% devaluation of their currency shortly thereafter to $1-IQD to $3.2169

Where it stayed until the Gulf War in 1991

THIS IS THE RATE THAT IRAQ TALKS ABOUT WHEN THEY SAY THEY WANT TO GO BACK.

THIS WAS WHEN THE IQD WAS CALLED ALSO

SWISS DINAR (I have some!!)

In 1991 due to sanctions placed on Iraq by the U.S. and the rest of the International

community its value dropped to $3,000-IQD to $1-USD

Early 2003 for a short period of time (just as the Swiss Dinar was being exchanged for the

new De La Rue security notes) you could get $4,000-IQD for $1-USD

(This was my first introduction to the actual IQD as some friends purchased it... unfortunately

I Did NOT!!)

In October of 2003 the CBI rate was $1-IQD to $0.00027US or $3,703-IQD for $1US.

In January 2006 the CBI rate was $1-IQD to $0.00067US or $1,492IQD for $1-US.

About February 2007 the IMF put Iraq on a "Programmed" exchange rate

or Managed Float of $1,170-IQD to $1-USD

This rate moved a little up and down until about Jan 2009 when the rate maintained its

1170 to 1 until January 19, 2012 when it was changed to 1166 to 1.

First POSITIVE movement since at least 2009.

A demonstration in my opinion that Iraq is in control of their currency...

My other Essay on that one!!

Go RV

[CaptainWingnut]

Wikipedia History of Iraqi Dinar

[Tom 777]

I bought mine in 2004 @ 1470 iraqi dinar per 1 US dollar.

[jericho]

Two factors: When and From Where.

For about a year following the release of the new currency it could be purchased that cheaply, if you bought in Iraq or from the right dealer. If I'm not mistaken, Ali was one of them. I've had several friends that got in that early....way ahead of me. My only question to them was...why the hell did i found out about this from someone else? By the time I got on board it was pretty much locked at 1170 plus dealer fees.

Anyway, yes this is probably true!