Hello all,
Below is from xe.com. I'm sure you all have seen this 1000 times (or more) as I know it has been discussed in these forums. Are we understanding this correctly that when they do drop (raise) the three zeros that the 25,000 dinar note is only going to be worth a 25 dinar note and so on?
I certainly hope not we were on such a high yesterday! The gentleman who informed and convinced us to make this investment gave us call yesterday afternoon stating that it was suppose to open at 5:00 am at .85. This info came from his "boots on the ground" who are Americans working with the Iraq government. He would not have given us this information unless it was a sure thing or so he thought. Does anyone know if that is true?
Hoping that it has RV'd and we don't have bad news about the value!
God Bless,
Shamrocklady
Iraq, Dinar
The Iraqi Dinar is the currency of Iraq. The currency code for Dinars is IQD, and the currency symbol is د.ع . Below, you'll find Iraqi Dinar rates, a currency converter, Iraqi Dinar News and more. You can also subscribe to our currency newsletters with daily rates and analysis, or take IQD rates on the go with our XE Mobile apps for your iPhone, BlackBerry, or even your regular phone.
Notice: IQD may be redenominated:
In 2010, the Central Bank of Iraq announced their plans to redenominate the Iraqi Dinar to ease cash transactions. The intention would be to drop three zeros from the nominal value of bank notes; but the actual value of the dinar would remain unchanged. That would mean that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) would both be worth the same amount in US Dollars. Although the announcement stated that the change would take place by the end of 2010, there has been no redenomination as of January 2011 and no further announcements have been made. As stated by the Central Bank of Iraq, their mandate is to "ensure domestic price stability and foster a stable competitive market based financial system." For more information about the redenomination, read "Iraq Planning Currency Redenomination."