- More by Antonio De Lucia
Al-Said Dinar continues bullish rally trading at $0.25 USD
Al-Sahawat Times | Ethical Global News from Oman and UAE | Donate HERE
The Crypto Token Currency (CTC) Al-Said Dinar continues a 16 week bullish rally against the USD this week hitting and holding at $0.25¢.
The physical hard cash circulation of Al-Said Dinar rose over the first and second quarter of 2019.
When Al-Said Dinar was first launched back in 2017 the opening months saw wild instability with trades ranging from 1 dinar selling for $1.80 to as little as $0.07¢.
However throughout 2018 Al-Said Dinar steadily rose in value reaching a stable plateaux of $0.14¢ as a running median for 4 months consecutively.
Following 2019’s increase in print currency circulation and an uptake in digital accounts, Al-Said Dinar has become more widely accepted as a retail currency for purchases between larger corporations around the world.
As of May 2019 the daily median trade for Al-Said Dinar (DIN) to USD is $0.20¢ holding firm until late July 2019 when the moving average hit today’s $0.25¢. Making the Al-Said Dinar (DIN) only marginally behind the AED.
The spread was always the worry for investors in to Al-Said Dinar which has progressively narrowed and stabilised to become a more attractive investment and holding than a traditional crypto currency or even hard currency or commodity in many circumstances.
Predictions:
It is hard to predict accurately with crypto currencies even if they are CTCs. It would not be surprising to see stability grew rather than value with the spread reducing to mitigate exchange and trade costs making the DIN not only an appealing currency for circulation and payments but also for investment traders.
Over the last two years we have seen the pattern of reduced spread as durations of stable exchange prolong.
DIN is traded privately and not on public markets, this gives equal measure of pros and cons which must be assessed before making substantial investments.
Currently the minimum trade value is 100 DIN ($25.00) with an average individual trade value of 25’000 DIN ($6,250 USD).
Printing ethically:
Whilst exact details are scares for obvious security reasons, we do know that Al-Said Dinar are printed on recycled material blends of linen, cotton and a third undisclosed material.
Inks are vegetable based with the polymers used in the security features being vegan friendly.
Current print denominations as of 2019 (Mark 4 designs):
Coins: 0.01 | 0.05 Din (with the 0.1, 0.25 and 0.5 dinar coins ending production in 2018)
Notes: 0.1 Din | 0.5 Din | 1 Din | 5 Din | 10 Din | 20 Din | 50 Din | 100 Din
(The 0.1 Din, 5 Din and 20 Din notes introduced in 2019)
2019 saw an increased demand for a future 500 Din note to be produced. Should this become reality we can expect the new note in late 2019 or early 2020 which based on current exchange rates would have a value of $125 USD.
Since you’re here …
… we have a small favour to ask. More people are reading Al-Sahawat Times than ever but advertising revenues across the global media industry are falling fast. And unlike many news organisations, we haven’t put up a total paywall. We want to keep our journalism as open as we can. So you can see why we need to ask for your help. Al-Sahawat Times’ independent, investigative journalism takes a lot of time, money and hard work to produce. But we do it because we believe truly ethical media and an unbias perspective really matters.
“I appreciate there not being a paywall: it is more democratic for the media to be available for all and not a commodity to be purchased by a few. I’m happy to make a contribution so others with less means still have access to information.”
If everyone who reads our reporting, who likes it, helps fund it, the future of ethical media and the futures of our staff and their families would be much more secure. For as little as £1, you can support Al-Sahawat Times and it only takes a minute. Thank you.
This story is available on:
APPLE NEWS | GOOGLE NEWS | AL-SAHAWAT TIMES
Talk to a journalist
Email: NewsDesk@alsahawat.com
Web: alsahawat.com
Follow Al-Sahawat Times
⬆️ Follow on Instagram
⬆️ Follow on Twitter
⬆️ Follow on LinkedIn
⬆️ Follow on Facebook
⬆️ Follow on YouTube
Read it on FLIPBOARD
Views: 0
