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Tips for Stretching Your Travel Budget in Vietnam

by Xchange Of America ~ August 9th, 2015

One of the easiest ways to stretch your Vietnam travel budget is to exchange your currency before leaving your country. By doing so you ensure that you’ll get a better rate and you won’t have to pay the Vietnamese bank a commission for doing something you can easily do at home.

Waiting in Line is the Worst

Airports in Vietnam charge hefty fees because they know many travels come unprepared. Do your research early to find the best exchange rate possible. Then travel with ease knowing you have the Vietnamese dong needed to take care of your expenses straight off the airplane. Waiting in line wastes valuable time and you’re ready for some relaxation after that long flight, right?

Act Like a Local

Some other tips that help you manage your money better is to do as the locals do. It may sound cliché but if you want to immerse yourself in another culture, you need to learn its people’s secrets. Strike up a conversation with Vietnamese people. Ask what they recommend you see, eat, and visit.

Some of the experiences you can have in Vietnam include visiting the beautiful pagodas throughout the country. Visit Hanoi and feel the energy of the bustling city. Crawl through the Cu Chi Tunnels. Find out what it was like to be a part of the Viet Cong in the 1960s. Last but not least, don’t miss the beauty of Cuc Phuong National Park. It’s home to over 2,000 species of trees as well as beautiful wildlife like the Clouded leopard.

Eat local food

Eating local food is one of the best ways to get the full Vietnam experience and you will spend much less money on local food than you would at restaurants. The quality of local food is often just as good if not better than what you would find at a restaurant. There are even websites where you can meet local hosts and cook with them or pay for them to cook for you, and there are thousands of options for street vendors and other vendors who sell different local meals. Do a bit of research on the area that you are traveling to and get some information about the type of food there, and find the local vendors and avoid going to well known restaurant chains.

Take the Bus or Train

Traveling in Vietnam by bus is cost-effective. The train from Danang to Hanoi costs around 758,000 Vietnamese dong. If you’re interested in taking a private tour, learn who offers the best deal. Keep in mind that although tipping is not a requirement, it reflects well on you as a person. Having some basic knowledge of the currency allows you to control the situation with ease by compensating your driver or guide with the right amount of dong each day.

Tipping is a Generous Gesture

Keep Vietnamese dong in different denominations to give to the people who help you get around while traveling. They’ll appreciate the gesture and you’ll have access to someone who knows a city inside and out. They’ll tell you where the best places to eat, drink, and enjoy entertainment are at.

Three Things You Need to Do to Prepare for Your Trip to Iraq

by Xchange Of America ~ August 8th, 2015

As any good traveler tells you, it pays to plan ahead. By researching the currency common in Iraq, you do two things. First, you avoid making the mistake of exchanging your cash for the wrong money. Next, you’re able to get a better exchange rate than you would at the banks in Iraq. That’s why it makes sense to do this before you leave the country.

Be Hotel Ready Right Away

Buy dinars and take care of the small expenses you incur straight out of the airport or train station. You won’t lose sleep waiting in line at the currency exchange counter. You’ll be able to catch a ride to the hotel where a delicious meal and nice comfortable bed awaits you. You’ll be able to tip your cab driver generously because you’ll have currency on hand that he accepts.

Don’t wait until the last minute

If you want until the last minute to buy dinars before you travel, you’ll end up potentially having to spend money at an expensive overseas or airport currency exchange. You may end up spending substantially more money than you expected, so don’t wait until the last second to buy dinars and be sure to purchase them ahead of time so that you can get a good exchange rate without service fees. Service fees will add up and can add unexpected costs to your trip, and you may end up also having to take the time out for unexpected detours to currency exchanges.

Pack for the Weather

Other things that make your trip easier is packing for the climate. If you haven’t been to Iraq before, you’ll want to research what the weather is like at the time of your travels. You don’t want to be overdressed or underdressed. A packing list helps you stay organized. You’ll know what you have in your luggage and which items remain in your carry-on bag.

Iraq has long, hot summers followed by short, cool winters. Lightweight cotton clothing is advisable during the hotter months. Waterproof clothing as well as heavier sweaters and jackets make winter months comfortable. Layering heavier clothing over lighter clothing and removing layers as necessary is one way to avoid being too hot or too cold while in Iraq.

Read Up on Iraqi Customs

It’s important to read up on other country’s customs before visiting. Avoid ugly stereotypes by being a good guest. Go out of your way not to offend anyone. For example, if you’re staying in someone’s home, it’s nice to bring cookies, pastries or a box of chocolate. Extend both hands when giving a gift.

Learn when to tip and how much. Again, it’s important to buy Iraqi dinars before you leave home so you’ll have currency on you at all times. You’re going to need it throughout your stay.
Avoid the hassle by knowing how much each bill or coin represents. Round up tips to make sure the person assisting you receives compensation for in dinars for what they’ve done. It’s a good habit to get into if you plan on visiting Iraq again.

Travel to Vietnam because the Vietnamese dong is affordable right now

by Xchange Of America ~ December 28th, 2014

Travel to Vietnam has increased in recent years because the Vietnamese dong is currently low compared to the U.S. dollar, and you can buy a significant quality of the currency at a relatively low amount. The amount of money that you can save on the Vietnamese dong can be substantial, and you can to travel to Vietnam for a very low amount. Vietnam offers a wide range of benefits compared to other countries, and the biggest benefit to traveling in Vietnam is the fact that you won’t spend very much money compared to other countries. There are many other unique benefits to traveling in Vietnam, and the main benefit is that you won’t be spending much money due to the low exchange rate of the Vietnamese dong to the dollar.

Vietnam is hospitable and friendly

One great reason to travel to Vietnam is the fact that the country is very hospitable and friendly to Americans and people from other countries. Street vendors and restaurants throughout the country accept both dollars and Vietnamese dong in many cases, and the people are warm and welcoming. The people can definitely make a travel experience much better and more comfortable, and you will get a warm welcome whether you are from America or Europe. Vietnam is also actively trying to improve its tourism experience and expand on this industry, and as a result they are a wide range of amenities and comforts now available to tourists that normally would be available in first world countries.

The Vietnamese dong is affordable

You can buy large quantities of the nation’s currency at a very low amount, and as a result you won’t be spending very much money per day. Even in the largest cities you will just spend a little over $10 per day, and you can stay at large hotels at a fraction of the cost of other countries. The low cost of travel makes Vietnam one of the most affordable countries in the world to travel to, and you can spend a long time in the country without spending more than few thousand USD or even less. The Vietnamese dong may go up in value in the future so right now is a great time to capitalize on this opportunity and travel to the country for a low amount.

Vietnam has excellent low priced food

Vietnam certainly has great Vietnamese restaurants throughout the country where you can get a full meal for just a few dollars, but there are also a wide range of other cuisines now available, especially in the larger cities. You can find Chinese, Indian, and other ethnic cuisines, and another thing to take into account is that each region of Vietnam will have different cuisines as well. For example you can buy king crab at some of the beach cities like Da Nang and the cost will be around $10 or less, and there is much more than just pho available throughout the country. Take advantage of the exchange rate with the Vietnamese dong now and travel to Vietnam for a low cost.

Buy Vietnamese dong before you travel

by Xchange Of America ~ December 3rd, 2014

Vietnam has become a popular tourist destination, and many people buy Vietnamese dong before traveling because of the country’s amazing landscape, food, culture, and hospitality. You can buy Vietnamese dong right now at a relatively low cost compared to many other currencies in the world, and the dollar remains very strong against this currency. If you are looking to travel it is by far one of the best countries where the dollar will go very far, and the best hotels and food in the country are available for a fraction of the cost that they would be in the United States or Europe. Even in the biggest cities you can expect to spend no more than $12 to $15 per day.

Buy Vietnamese dong now as the dollar is strong

In recent months the dollar has been very strong, and if you buy Vietnamese dong now you can benefit from the strength of the currency. You can buy Vietnamese dong in the tens of thousands for a low amount, and the value of the Vietnamese dong was recently lowered in order to encourage travel and investment in the country. If you buy Vietnamese dong before you travel, you will end up saving a substantial amount of money on travel costs and you won’t have to use a foreign currency exchange service, although dollars are also widely accepted throughout the country. Some vendors however may not be able to accept dollars, so it’s a good idea to buy Vietnamese dong before you head over there.

You can buy Vietnamese dong at a lower cost if the exchange rate is good

You should also think about timing your purchase so that you can buy Vietnamese dong when the exchange rate is favorable. Meaning that if there is a particular day when the dollar is stronger, you may want to buy Vietnamese dong on that day to save more money on currency exchange costs. You can call a currency exchange service like Dinar Inc. to find out what the exchange rate is on a particular day, and when you buy Vietnamese dong on a day when the exchange rate is high you can end up saving a substantial amount on money for your upcoming trip to Vietnam.

Have some cash on hand when you travel

It’s a good idea to have some cash on hand when you travel to a foreign country, which is why you should buy Vietnamese dong before your trip. The cost to convert dollars can be substantial, and you may end up spending more money than you need to if you wait until the last minute. The best thing to do is to buy Vietnamese dong before you travel and have cash available for services like taxis, restaurants, street vendors, and other vendors who may not be able to take dollars. You don’t need very much and if you aren’t sure how much you’ll need, you can contact someone at Dinar Inc. for an estimate on the total cash that you might bring when you travel.

History of the Vietnamese dong

by Xchange Of America ~ July 23rd, 2014

The Vietnamese dong (Code VND) has been the official currency of the country of Vietnam since 1978. Because the currency has been devalued so much since 1978 it is issued in bills of 200, 1000, 5000, 10000, and higher. It previously was divided into lower denominations called hao and xu, but neither of these are used any longer. The word dong refers to the bronze coins that were used during the Vietnamese dynasties. There have been several commemorative dong coins that have been issued since 1986 but they are not used in circulation. After a period of time in which coins were not issued, the State Bank of Vietnam began issuing coins in December of 2003 starting in denominations of 200.

Economy grew after Cold War ended

Vietnam was and continues to this day to be a communist country. The U.S. placed embargoes on Vietnam during the Cold War that first affected North Vietnam in 1969 but was extended to the South in 1975. After the Cold War ended, foreign countries began investing heavily in Vietnam, as it was a new economy with tremendous growth potential. However the United States maintained sanctions against Vietnam, but it did not prevent countries like Great Britain, France and Australia from investing.

The Vietnamese dong was devalued due to pressure from the U.S.

The U.S. pressured the IMF to devalue the Vietnamese dong in order to encourage the use of the U.S. dollar in the country, but the devaluation actually ended up benefitting the economy in the long run as it increased foreign investment and eventually U.S. investment once the sanctions were lifted in 1994. The Vietnamese dong continued to be devalued through a series of progressive currency devaluations, and the collapse of the USSR allowed Vietnam more trading freedom with the West.

The Vietnamese economy is one of the fastest growing in the world

At the moment the Vietnamese economy is one of the fastest growing economies in the world. A substantial middle class has emerged that is about 35% of the population, and its natural resources are now being developed including oil and gas. Many national companies have begun opening franchises in Vietnam including McDonalds and Starbucks. Companies like Samsung have moved their factories into Vietnam, strengthening the economy and providing jobs which in turn increases the chance that the Vietnamese dong will increase in value in the near future. Contact Dinar Inc for more information about buying Vietnamese dong.

Is the Time Right for American Banks to Convert Iraqi Dinars?

by admin ~ July 29th, 2013

The climate in Iraq has definitely been stabilizing: less violence, more businesses being formed, reconstruction work under way, and the banking and economic systems are being constantly improved. Even with all of the progress that’s been made to date, American banks have still not fully embraced the Iraqi dinar. At this point, in order to convert Iraqi dinars to American dollars, you must deal with a bank which operates in Iraq, or the Central Bank of Iraq.

The new system of banking in Iraq has seemingly been modeled after the Federal Reserve Bank in the United States. It has responsibility for managing the currency, holding foreign exchange reserves, moderating interest rates and, therefore, inflation, and stabilizing currency prices. With this type of system in place and improvements that have been made, many more banks will be interested in opening in Iraq.

Many of those involved with the dinar believe that when large international banks are confident enough to deal in Iraqi dinars, it will cause a surge in pricing. Since 2004, eleven foreign banks have been licensed by the Central Bank of Iraq to do business in the country. However, due to the still volatile conditions there, at least by western standards, these banks have largely partnered with existing Iraqi banks rather than opened full-fledged branches of their own. This lack of presence of the foreign banks is seen as hindering the improvement in the dinar’s value that many people seek. Three global banks, National Bank of Kuwait, HSBC Bank, and Charter Bank of England are being especially closely watched as it comes to their involvements in the Iraqi banking environment.

Traders feel that once these banks with such a huge global presence become entrenched in Iraq, it should cause the dinar to become available everywhere on the international market. People should be able to easily trade dinar for their local currency; as easily as they do any other foreign currency at their local bank or currency exchange.

Until this happens, if you have dinars you want to exchange, you will have to deal directly with local Iraqi banks. You can find a lot more information about banks and banking in Iraq by visiting the website for the Central Bank of Iraq. There is also a list of all the banks that do business in Iraq on the site.

American banks should begin converting Iraqi dinars in the near future, as the continued stabilization of the monetary systems are put in place, economic growth is felt, and violence is kept in check in the country.

What Does the Future Hold for Iraq’s Dinar?

by admin ~ July 21st, 2013

The answer to this question is not as easy as yes or no, since there are so many things influencing the value of the Iraqi dinar. (Among these are violence, inflation, and reconstruction to name just a few.)

However, there are some positive signs in Iraq that suggest that the country as a whole is stabilizing, which should help to push the Iraqi dinar higher.

Iraq’s economy is tightly interwoven with Iraq’s oil supplies, so as oil prices stabilize it also has a positive impact on Iraq’s economy and its money supply.

The Iraqi government is also working with the International Monetary Fund and the United Nations on ways to support their efforts in economic reform, reconstruction, investment and higher educational areas. These efforts will also support guaranteed water resources, removing the existing landmines, and developing agriculture to help the Iraqi people become self-sufficient. Both the United Nations and the U.S. government are well aware that greater security in the region will only come with greater economic improvements.

To that end, the U.S. military will no longer use United States dollars to pay for anything in Iraq or Afghanistan. In an about-face in the way business has been conducted, they are attempting to keep U.S. money out of the hands of Al-Qaeda and the insurgents, by instead paying out funds via electronic funds transfer in the local currency. This measure is seen as one which will build up trust in the Dinar and the banking systems, which is essential to any increase in the dinar’s value.

Other good news for Iraq has been that the United States, the United Arab Emirates, and Cyprus have all forgiven 100 percent of the Iraqi debt. Iraq’s leadership has also asked China to forgive the $8.5 billion U.S. dollar debt it has with them, highlighting China’s role in Iraq’s reconstruction process. There has been no response from China yet.

What does all of this mean? Experts are saying that the Iraqi dinar should be restored to its past value (which was $.30 pre-war, and also was over $3 U.S. pre-Gulf War, and now is stable at a low 1170 dinar per U.S. dollar) before the end of the year or soon thereafter, due to the already mentioned reasons, and one more important one, below.

The whole Middle Eastern region is discussing publicly the unification of all their currencies similar to what we saw with Euro. With this discussion being had by the governments in the region, and the fact that it makes sense for them all to get away from dollar exchange at the same time a collapse is seen as imminent, oil-rich Iraq will definitely be a part of these equations. This has been in the works for quite some time, and is expected to be implemented within the next twelve months, and should have a very profound, exponential effect on the value of the Iraqi dinar.

Where to Check The Iraqi Dinar Exchange Rate?

by admin ~ July 18th, 2013

Authoritative Iraqi dinar exchange rate information is found at official government websites like:

Yearly Average Currency Exchange Rates are published by the IRS. The Internal Revenue Service has no official exchange rate. Generally, it accepts any posted exchange rate that is used consistently.

CIA World Factbook provides the official value of a country’s monetary unit at a given date or over a given period of time, as expressed in units of local currency per US dollar and as determined by international market forces or official fiat.

US Treasury Financial Management Service - Which reports standardized exchange rates for use in reporting by US governement agencies.

This quarterly report reflects exchange rates at which the U.S. government can acquire foreign currencies for official expenditures as reported by disbursing officers for each post on the last business day of the month prior to the date of the published report. Example: The quarterly report as of December 31, will reflect exchange rates reported by disbursing officers as of November 30. If current rates deviate from the rates in this report by 10 percent or more, Treasury will issue amendments to this quarterly report. Amendments will also be issued to reflect the establishment of new foreign currencies.

To ensure all reports are translated at uniform exchange rates, all U.S. government agencies should use these rates, except as noted above, to convert foreign currency balances and accomplished reported transactions to U.S. dollar equivalents as of the date of this report and for the ensuing three months. Since the exchange rates in this report are not current rates of exchange, they should not be used to value transactions affecting dollar appropriations.

Central Bank of IRAQ (CBI) reports Iraqi dinar exchange rate figures based on its regular auctions of Iraqi dinar currency auctions.

In addition to these authoritative government resources, the IRS webpage on Foreign Currency and Currency Exchange Rates lists three following external, non-government Iraqi dinar exchange rate sites which can be considered reliable:


Reasons to Buy Dinar?

by admin ~ July 16th, 2013

Before you can understand what the Iraqi dinar is worth, and whether or not investing in that country is going to be good value for money, it’s worth taking some time to understand the progress it’s made in the years since the US-led invasion that toppled Saddam Hussein.

Here are a few things that you might not know about what’s been happening in Iraq lately:

  1. Did you know that 47 countries have reestablished their embassies in Iraq?
  2. Did you know that the Iraqi government employs 1.2 million Iraqi people?
  3. Did you know that 3100 schools have been renovated, 364 schools are under rehabilitation, 263 schools are now under construction and 38 new schools have been built in Iraq?
  4. Did you know that Iraq’s higher educational structure consists of 20 Universities, 46 Institutes or colleges and 4 research centers
  5. Did you know that Iraq has a counter-terrorist unit and a Commando Battalion?
  6. Did you know that the Iraqi Police Service has over 55,000 fully trained and equipped police officers?
  7. Did you know that there are 5 Police Academies in Iraq that produce over 3500 new officers each 8 weeks?
  8. Did you know there are more than 1100 building projects going on in Iraq? They include 364 schools, 67 public clinics, 15 hospitals, 83 railroad stations, 22 oil facilities, 93 water facilities and 69 electrical facilities.
  9. Did you know that 96% of Iraqi children under the age of 5 have received the first 2 series of polio vaccinations?
  10. Did you know that 4.3 million Iraqi children were enrolled in primary school by mid October?


Instead of shouting these accomplishments from every rooftop, they would rather show photo’s of what a few perverted malcontent soldiers have done in prisons in many cases never disclosing the circumstances surrounding the events.

Instead of showing our love for our country, we get photos of flag burning incidents at Abu Ghraib and people throwing snowballs at presidential motorcades.

The lack of accentuating the positive in Iraq serves only one purpose. It undermines the world’s perception of the United States and our soldiers. This is verifiable on the Department of Defense website. Pass it on!

Investment in Iraq?

There was a time when Iraq was a leader in its region, and for every 1 Iraqi Dinar you exchanged, you would receive an outstanding $3.20US. The New 25,000 dinar note would have been worth over $75000US dollars!

The question that we often hear these days, is, “Will Iraq regain its economic strength?”

The New Iraqi currency, now a one version currency common to both the North and South, and independent from the executive government, represents Unity, Strength, and Credibility, essential in economical recovery. A nice beginning in stabilizing the Dinar, and furthermore, making the north-south commerce a much smoother ride.

Mesopotamia is one of the finest areas of the globe, and excluding petroleum, there are other natural resources in addition to the brilliant Iraqi brains, that can make Iraq one of the strongest economies in the world in a very short period of time. Also, take into consideration that Iraq was the world’s largest producer & exporter of dates and that over 600 varieties of palm trees are grown in-country. If managed properly this alone can help Iraq get back on its feet in no time!

As we all know, Iraq floats over a lake of oil, and its reserve is sufficient to feed the world need for decades to come. An important factor in helping regain its strength back in an even shorter period of time!

An estimated 33 billion US dollars have already been collected for the process of reconstruction, and Companies like Coca-Cola, Chevron Texaco, Alabama Blount4 Inc. are investing!!!

If you are still skeptical about investing your hard earned money, consider the following more realistic point of view:

It’s very likely for the Iraq Dinar to stabilize at 1US dollars = 100 IQD in a few years, if and when that happens your investment in 1 bundle of 100pcs of the 25,000 Dinars for example would be worth $25,000 USD.

Is the U.S. Dollar’s Reign Nearly Over?

by admin ~ July 13th, 2013

On November 23rd, 2010 China and Russia announced their decision to stop using the U.S. Dollar to settle transactions between each other, opting to use either the Chinese Yuan or the Russian Ruble instead. The bilateral trade agreement was signed in St. Petersburg by Russian President Vladimir Putin and Chinese Premier Wen Jiabao. This development signals further deterioration of the U.S. Dollar’s credibility as a reserve currency.

The last straw may well have been the enormous amounts of money that the Federal Reserve has already dispersed in attempts to stimulate the U.S. economy, in addition to its most recent and quite controversial $600 Billion QE II package that was announced in early November.

Dollar’s Weighting Decreased, Euro Higher in IMF SDRs

Another clear signal that the U.S. Dollar’s supremacy continues dwindling is the fact that the International Monetary Fund or IMF reduced the weighting of the Greenback in November in its basket accounting currency known as the Special Drawing Right or SDR.

SDRs consist of a form of international reserve asset used by the IMF largely to settle their financial obligations. Its value is based on a weighted basket of four currencies: the U.S. Dollar, the Euro, the Yen and the Pound Sterling.

Each currency is given a specific weighting or percentage in the basket that makes up the full value of the SDR, and these weights are adjusted every five years.

In the most recent SDR weight change, the U.S. Dollar’s weighting was just cut from 44 percent to 41.9 percent, while the Euro’s weighting increased from 32 percent to 37 percent, and the Pound Sterling from 11 percent to 11.3 percent. The Yen’s weighting was also reduced from 11 percent to 9.4 percent.

A year before the IMF reduced the Greenback’s weighting, the Governor of the People’s Bank of China Zhou Xiaochuan suggested replacing the U.S. Dollar as a global reserve currency with SDRs.

How a Weak U.S. Dollar Affects the World Economy

As the status of the U.S. Dollar as a reserve currency continues to lose luster, its value will also very likely decline over time.

The global economic impact of a weaker U.S. Dollar makes imports to the United States more expensive and therefore affects the ability of world exporters to sell goods in the United States. This tends to have a domino effect as less and less gets sold in that huge marketplace; and more pressure is put on exporters in other countries.

Nevertheless, a softer Dollar tends to benefit industries in the United States as people need to buy domestic goods in the face of higher priced imports.

Overall, the diminished demand for goods in the United States and the lower value of its currency have negatively affected the world economy as a whole, contributing significantly to the global financial crisis.

It is therefore rather unsurprising that many forex traders have found that being short U.S. Dollars makes sense as a long term currency trading strategy in spite of its recent corrective late year rally.

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