American Banks Convert Iraqi Dinars
- When will it happen and why is it important? -
Many in the dinar market are waiting for large international banks to begin dealing in Iraqi dinars. According to the Wall Street Journal, "Iraq's central bank is on the verge of approving three foreign banks to offer financial services such as foreign exchange." (Subscription required. Find journal article here.)
Once International Banks become established in Iraq, the dinar should become widely available on the international market. How these banks offer dinar exchange, however, depends on their individual policies and procedures. We expect the dinar to be treated like all other foreign currencies, enabling investors to exchange dinars at their local currency exchange location or large bank.
Until then, investors will want to contact local Iraqi banks about exchanging their dinars. Find a list of local banks at the Central Bank of Iraq's website.
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American Banks Convert Iraqi Dinars
High resolution images (provided by www.DinarProfits.com):
The 25,000 Iraqi Dinar
The 5,000 Iraqi Dinar
25,000 & 5,000 Iraqi Dinar comparison
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