Currency expert John Jagerson, of LearningMarkets.com , tells WHNT News 19 a "revaluation" of Iraqi dinar "could not happen" and "is not planned to happen."
In October 1931, the Iraqi Dinar (IQD) was unofficially uncoupled from the British Pound and pegged itself to the US Dollar (USD), where until 1949, the IQD, equaled 4.86 USD.
Until 1971, the IQD devalued to 1 IQD to 2.80 USD. In 1959, the IQD was officially uncoupled from the British Pound as a gesture of Iraq's independence. From 1959 until 1967, at which time the British pound revalued, the IQD remained n par with the British Pound. From 1967 to December 1971 the value of 1 IQD equaled 2.80 USD.
From 1973 until 1982, during the Iraq-Iranian War, the IQD was equal to 3.39 USD. In 1982 it was devalued to 1 IQD to 3.22 USD. Although into the early part of 1988, the standard exchange rates continued to show the IQD as 1 IQD to 3.22 USD, the IQD's real exchange rate was much lower by half of the standard exchange rate.
After the Gulf War I and due to UN sanctions, the IQD was devalued from 3.22 IQD to 1 USD to 3000 IQD to 1 USD. by late 1995.
In 2003 the IQD was equal to 0.00027 USD and was revalued to 1 IQD to 0.00068 (more than double the value) in August 2005. In January 2006, the IQD was devalued to 1 IQD to 0.00067 USD.
Since then the IQD has been revalued and devalued to where it stands today at 1 IQD to 0.00083. A 125.42% increase from January 2006 or an average increase of 10.5% per year which is currently better than most hedge fund returns.
To say the RV will not happen is to be ignorant of currency and not just Iraqi's currency. Countries revalue and devalue their currencies through the years. One of the biggest complaints about China is their yo-yo currency where they devalue it frequently. This author, Jagerson, who spent years researching the subject to author a self-published e-book spent no more than 5 minutes espousing his bias that this is a scam. If he spent a little more time, let's say 15 minutes more, he would have come to s different conclusion.