When will the Iraqi dinar revalue

50 Iraqi dinars - front viewNot Financial Advice: According to Forbes, revaluation can only happen once the Iraqi government stabilizes and no country that is borrowing money is going to have a revaluation anytime soon. The Better Business Bureau is warning consumers against considering a foreign currency investment involving the Iraqi dinar.

Since 2008, the Iraqi dinar has only appreciated by 5 percent against the dollar. It is the weakest currency among oil producing Arab nations, worth just a tenth of one U.S. cent. The dinar is experiencing additional pressures as a result of international economic sanctions imposed on Iran and Syria.

The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided. Read more at Al-Monitor.

Updated on Tuesday, October 29 2013 at 04:44AM EDT
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