By John Lee.
Reuters reports that "thousands" of people are still speculating on a huge upward revaluation of the Iraqi dinar, which it describes as "one of the chanciest investments in the world".
It quotes a Las Vegas-based speculator, who previously lost most of his retirement fund on the stock market, as saying:
"It's not a question of if, but when Iraq revalues its currency ... The dinar will eventually have substantial value, possibly the highest in the world ... If the dinar rises to just even a penny, you would have realized a profit of 900 percent."
The article goes on to say that some speculators are even betting that the dinar could rise to a value of $1 to $3, which would represent gains of between 116,500 percent and 349,700 percent.
One dinar dealer, which reportedly charges a spread of 30 percent on transactions, told Reuters he sold about $577 million in dinars to U.S. customers in 2011. "His customers are U.S. mom-and-pop investors - teachers, police officers, and construction workers", says the report.