Iraqi Dinar Suddenly Expensive, Hard-to-Find in U.S., Canada
In the days leading to to Iraq's inaugural Independence Day, which was celebrated for the very first time in history on October 03, 2023, something peculiar happened. Iraqi dinar (IQD), Iraq's native currency, saw a dramatic reduction in supply and increase in demand in the days leading up to the national holiday.
While this may turn out to be completely unrelated and irrelevant to the exchange rate between between the dinar and dollar, Euro, Yuan, Yen and other major world currencies; at least on paper, Iraqi Independence Day implies Iraq is independent. That is significant because without being independent (for example, if a foreign country's troops still occupy a foreign state, that country is under occupation and not sovereign. In order to have a sovereign currency, one must have a sovereign state.
Iraq celebrating Independence Day implies that the war is over, US troops are leaving or have left, and the conditions for the removal of sanctions are all present, meaning there should be a massive influx of demand for the IQD. If that happens without a proportional increase in supply, the market dictates the value of the dinar will increase immensely. When the dinar will revalue is still anyone's guess, but all signs are increasingly pointing to it happening if not already happened and just not announced publicly.
