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Ask Dave

Buying Other Countries Currency?

Don't buy foreign currency as an investment, Dave says - especially not in a war-torn country like Iraq.

QUESTION: A listener says his wife wants to invest in Iraqi currency.  Is that a good idea?

ANSWER: This is a terrible idea.  You do not buy currency in a war-torn country.  A shift in the elections or the governmental process will do away with the Iraqi currency and you’ll lose all your money if you do this.  Do not buy foreign currency as an investment – especially in a country at war.