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Will Iraq revalue the IQD using digital currency?
There are hundreds of thousands of people waiting for Iraq to revalue their currency. And there are just as many who believe it will never happen.
For many of us, we have hope that Iraq will fully recover from the 2003 invasion and revalue their currency in the process. Oil revenue for the small country of 40 million people, have been the highest in 50 years. This is good news because it gives Iraq the financial foundation to rebuild and do something about their failing economy.
However, there is one problem, which cannot be overlooked. Iraq has over printed their currency and a revalue could possibly bankrupt the country.
Based on what other countries have done, Iraq could either print new currency, or go digital.
This week’s video shares information on the possibility of Iraq going digital. One of the previous videos' shares insights on why the printing of new money may be another option for increasing the value of the currency against the U.S. dollar and other world currencies.
Then again, Iraq earns an average of $10 billion US dollars in oil each month. They earn in US dollars, and they are rebuilding the country using Iraqi Dinars which at the time this article was published was around 1,480 Dinars to one U.S. dollar.
The question we must always ask ourselves, as Iraqi Dinar Investors, is: Does Iraq have intensions of revaluing their currency in the coming years?
Sandy Ingram is the Reporter on the YouTube Channel Edu Matrix where all things exotic currencies are discussed, mostly the Iraqi Dinar, the Vietnam Dong along with gold and equity share investments. Subscribe to the channel and or follow Sandy Ingram here on Medium.
