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The currency unit of Iraq is a dinar, the Iraqi dinar has been used as a currency unit since its introduction in 1932, since then it has been abandoned time to time during wars but now it is the official currency of Iraq. It has happened more than once that Iraqi dinar was discarded as the official currency of Iraq.

The Iraqi dinar started its circulation in 1932, before the Iraqi dinar the Indian rupee was the official currency of Iraq since the British occupied Iraq in the World War 1, and at that time rate of exchange was at 1 dinar for 11 Indian rupee, the Iraqi dinar was one of the leading currencies in the world, but the absence of it as an official currency harmed it, it stayed out of the world market for a long period of time, and Iraq’s trade and exchange was dealt in the Indian rupee at that time.

The Iraqi dinar has had some golden days as well, this was before the gulf wars, when Iraq was a business hub in the middle east, and its trade and exchange was at its peak, people from neighboring countries would come to Iraq for studies and business, even until the 80s the days weren’t so bad for the dinar, but during the gulf war the country faced instability, times were so good for the dinar that the exchange rate was 1USD TO 3IQD, and it was even better in the early 1950s.

The gulf region, and specially Iraq was involved in two wars, the late 80s and early 90s, which had no good impact on the nation whatsoever, a lot foreign forces go involved in Iraq after that, and the Iraqi dinar was faced by a lot of sanction by the IMF, and by the year 1995 the exchange rate of iraqi dinar had felt down to 1USD to 3000IQD, this did not happen in a day, but decades of war had bring the dinar to this stage where it was also not accepted by the banks, banks stopped carrying the dinar and it was not even traded in the international market for some time.

Wars and invasions have always effected Iraq’s development as a country, and so the Iraqi dinar has faced a lot of time battling these situations, but whenever the Iraqi has stayed in the international market for a while, it start to grow and gain appreciation and value, mainly because of the oil powers of Iraq, Iraq is one the top oil exporters in the world, and has been for a century now, Iraq has one the biggest oil industry if not the biggest, their oil industry is capable enough to change the whole situation of the country and make everything better on its own, but when a country is at war, priorities of the government changes and it cannot focus much on its development side.

The dinar has always faced ups and downs, whether it was because of the gulf war or the invasion of Iraq, but it is still seen as a currency to invest by many and people are still interested to buy Iraqi Dinar.

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When it comes to forex trading, there are many currencies that dealers deal in every day, but when you want stability, essence profitability, there is no currency compared with the Swiss franc, the forex traders never pass on any opportunity to invest in the Swiss franc, and there is no surprise in their approach towards the Swiss franc, Switzerland has a very stable financial system, their banking system is one of the oldest as well, and they have kept themselves from converting to the euro, that has also added to the reputation of the Swiss franc. Although Switzerland were lined up to join the Euro Zone and convert their currency unit to EUR, but to date the currency of Switzerland remains the Swiss Franc, it is considered as one of the most stable currencies all over the globe, and that is the reason why it is one the top most traded currencies in the international trade and monetary markets.

If you ask a forex trader that what I should do to enhance my portfolio as a forex trader, surely he will advise you to deal in the Swiss franc, I know many traders who were worried when they had invested in different currencies, unstable and ever fluctuating rates of those currencies were a headache, but those who then changed to Swiss franc now sleep soundly, because they know they have invested in a very stable and strong currency, and many of them call it safe haven currency.

Switzerland is renowned for its stable political and financial position, but that is not the only thing that makes their currency and industries, business so strong and attractive to investors, Switzerland has one of the finest infrastructures anywhere across Europe. From Zurich to Geneva, from Basel to Bern, you would find well- drilled infrastructure in the entire country, for many, their dream vacation destination is Switzerland, and rightly so, it is one the most beautiful places to be anywhere in the world, equipped with technologies but the beauty of the nature is well preserved by the Swiss, which makes it a huge tourist attraction, and tourist are the biggest cash movers, they bring their currency, exchange it with yours and that only helps your currency. Tourism has been a real help for the Swiss franc over the years, along with many other things, it is right up there in the mix list of top earning industries of Switzerland.

Switzerland has a many options of earnings, may be this is the secret behind their ever stable economy, on one hand they have their unrivaled banking system, which is one of the most ancient banking systems in the world, and on the other hand they have companies like Nestle, Glencore, Roche, and Swatch. Swiss chocolates are world famous, Swiss watches and their technology, really the world takes a bow! And their pharmaceutical industry is along among the world’s leading pharmaceutical industries with companies like Novartis and Roche.

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