Which Banks Exchange Iraqi Dinars?

There is currently no US bank that will exchange Iraqi Dinars. eBay, private collectors, and a few foreign banks (including the Central Bank of Iraq) all facilitate their trade.

In some cases, it may be challenging to convert funds into U.S. dollars denominated in Iraqi Dinar. Nobody can buy or sell them at a bank in the United States. This is due of a widespread swindle in which Iraqi Dinar dealers trick unsuspecting buyers into buying Dinars by promising huge returns on investment if they buy the currency now. Since 2009, there has been zero or minimal appreciation in the value of the Iraqi dinar.

The currency rate is another factor making it challenging to convert Iraqi Dinar. As of the end of 2015, one Iraqi Dinar was worth about $0.0086 USD. Furthermore, most US institutions will only convert the most frequently requested foreign currencies, such as the Canadian dollar or the Mexican peso. Because the Iraqi Dinar is so infrequently demanded, it is not worthwhile to maintain an exchange rate for it.

The danger of fraud and mail loss should be taken into account when exchanging Iraqi dinar with a foreign bank or a private vendor. It is recommended that small amounts of Iraqi Dinar be sent together with shipping insurance if you plan on selling this money.

Joel Gomez
Joel Gomezhttps://www.gadgetclock.com
Joel Gomez is an Avid Coder and technology enthusiast. To keep up with his passion he started Gadgetclock 3 years ago in 2018. Now It's his hobby at the night :) If you have any questions/queries and just wanna chit chat about technology, shoot a mail - Joel at gadgetclock com.

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