FAQ
1. How to buy Iraqi Dinar from Dinar2u?
For cash on delivery:For order on Iraqi Dinar value above 1 million, cash on delivery can be made within Klang Valley, Malaysia. As for order of Dinar value below 1 million, cash on delivery is within Seri Kembangan, Malaysia only.
For Order via courier delivery:
Step 1: Bank in payment into our account (Maybank)
Step 2: SMS amount bank in, your name, address and contact number to us
Step 3: Delivery will be arrange within 24 hours upon received of your payment
Step 4: Sit and wait. It usually take 1-3 working days for order to be delivered (Gdex/Fedex).
2. How can I exchange my New Iraqi Dinar for Dollars?
The central bank of Iraq has issued licenses to Western Banks to operate in Iraq these are the three banks: National Bank of Kuwait, HSBC Bank and Charter bank of England. Once these banks are operational in Iraq you could exchange the dinars trough their branches anywhere in the world . The website for HSBC bank Click Here . Dinar2u is always in the market to sell your dinar, kindly email us for the precedure.
3. Why is it more expensive to order Dinars in smaller denominations compare to bigger denominations such as 25,000 notes?
This is because of a couple of reasons. Firstly it takes 40 notes to make up 1 Million in the 25,000 denomination. For the 5,000 denomination it takes 200 notes to make up 1 Million. That is 5 times as many! This adds to the cost of importing and exporting orders. Not only that, it takes 5 times as long to ensure every one of those notes are 100% authentic. Availability of the lower denominations in uncirculated condition is harder to get your hands on as well. This adds to the process and it can take longer to get your shipment to you. So as you can see, the smaller denominations are more labor intensive and therefore are more expensive to order. If you do want smaller denominations this is not a problem.
4. Why can't I buy New Iraqi Dinar from an International bank or money changer?
International banks and money exchange will not have any New Iraqi Dinar to give you because it is not a traded currency at the moment, because of its low value. Once the International Exchange rate has been set, you will then be able to go to any International bank or money exchange and turn your Dinar to Dollars.
5. When International Exchange rate for Iraqi Dinar will be set?
Nobody knows for sure, when the International Exchange rate will be set for the New Iraqi Dinar. It could be a couple of months, years or nothing will change.
6. Once the Exchange Rate has been set, at what price should I cash it in?
I am not a financial advisor so this really is totally up to you. No-one can predict the exact twists and turns of market, not even the experts. If the exchange rate returns to its prior war figure of $0.33 US per Dinar than you could certainly exchange it all then. If you had 1 Million Dinar it would be worth $330 000 US! Nothing to complain about! Many plan on exchanging a small amount of Dinar then and keeping an eye on how Iraq's economy and oil production continue to progress. So as you can see, it really is totally up to you.
7. How can I follow the changing value of the New Iraqi Dinar?
You can find the week to week institutional exchange rate changes at the dinar2u or Central Bank of Iraq
8. Why can't I buy Dinar at the current rate that is listed at the Central Bank of Iraq?
That rate is only available to institutions in Iraq or to account holders at banks over there. We do not even get it at this price. This is because our business partner takes his profit out of the difference. When you purchase Dinar from our partner, you are basically paying them a convenience fee for bringing the Dinar to you.
9. What if Iraq decides to change their currency again?
It is very expensive for a country to change its currency and there are no indications that this will ever happen again. The New Iraqi Dinar has been very well received by the people and has unified the country under one currency. Many people in Iraq are proud of their currency as it reflects a lot of great history and strength in Iraq. The New Iraqi Dinar is also a reminder to the people that Saddam is now out of their daily lives. In 2004, they started making smaller denominations and coins to cater for the continual rising value of the Dinar. This is also confirmation of the countries long term commitment to their new currency.
10. What kind of return can I expect from Iraqi Dinar?
Dinar2u can not guarantee any specific return. However, judging by the increase in market value since the release of the New Iraqi Dinar, and by the value of the Dinar in the past, there is a good possibility that it may increase in value. As with any purchase of currency there is always a risk that the value can go down.
11. How do I know that the Iraqi Dinar is authentic?
The Dinar notes have the most advanced security features available in the world. Each bill contains watermarks, metallic inks, a safety strip, color changing symbol, raised lettering, as well as writing that is visible only in Ultraviolet light. The banknotes are uncirculated.dinar site stands behind the authenticity of every bill. Their authenticity is verified by a De La Rue machine. Refer to authentication of Iraqi Dinar.