Currency Exchange

[mtblujeans]

My DSs were sent Iraqi money by several guys serving over there and I know the new currency came out, but I have not kept up with info about exchanging the old money for the new. Can anyone help me with info about this? Is it too late to exchange the old Iraqi currency? If not, how would one go about this? Thanks

 

[JohnsPrincess]

Can you explain a bit more on why you want it exchanged? I mean, was the money sent the your DS's as souveniers (sp?). Was it sent to them because they are going over? If it's number one, I'm not sure how you would go about exchanging it. You'd have to find a bank that carried the money and I don't think there are any in the states. If it's number two, they'll be able to exchange it there... ??

 

[mtblujeans]

I am confused, but someone here told me that currency was supposed to be exchanged and not kept in circulation.

 

[JohnsPrincess]

That's only if you want to use it. Because of the new currency, the old will not be accepted after a while (if it even is now). So, if you wanted to actually buy things with it, you'd have to exchange it. If you want to keep it for a souvenier, which I do, then...you just keep it. I have the former currency from Saudi with Sadam on it, etc. It's a neat piece of history.

 

[jsmith]

The old currency-what guys in the first deployment sent home is worthless-you cant exchange it for the new currency or anyother currency anymore-its only value is as a piece of history-the new iraqi currency, which is backed by the US government is treated as anyother world currency in currency exchanges although the value is not very high. Lots and Lots of soldiers-including my DH have bought the new dinar speculating on the market rising same as you do in stocks and bonds-but it will be several years before those notes have enough value to make them worth exchanging-bottom line=keep them a as a souvinier of the soldier who sent them

 

[mtblujeans]

Ok, that's good to know. Thank you!