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RAISE THE ZEROS


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#41 rico1

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Posted 15 June 2012 - 11:09 PM

If 1 divided by .00086 equals approximately 1166 dinars,

and if you take three zeroes from the .00086 to get .86,

then you would STILL have to divide the .86 into the dollar, to get:

$1 divided by .86 = 1.16

correct? Maybe I'm not getting it, but I never understood not having to still do the math if you took the 3 zeroes off in this way.

No, you have done the math correctly after they remove the zero's instead of being .00086 dollars per dinar it will be .86 dollars to the dinar. And not to say a dirty word here but that sounds like a L*P to me but I hope not.
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#42 alan_coaks_3

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Posted 15 June 2012 - 11:48 PM

the 3 zeros will come off the currency
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#43 imgesing

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Posted 16 June 2012 - 12:13 AM

it is obvious to me that they are not talking "exchange rate"...They mean a 1,000 dinar note becomes 1dinar and will be worth $0.86....To do this all they need is to declare a bank hoilday in Iraq....the banks will close on friday ,stay closed till Tuesday when the the new rate is in effect...all accounts will be adjusted for the new dinar ... Mortgages, loans , rent ,food will be adjusted.. a simple divide by 1000... There may be a problem making change of less 1/10 dinar for a while as those small denoms will be in short supply There would be utter confusion if they tried an RV at that time...
Now an interesting fact...Oct.21 is a national holiday (banks are closed) AND Oct 22 is a PLANNED bank holiday.... WHY?



Hence the announcement of electronic banking. This will disolve any issues with exchange.
IMHO...

Peace
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#44 rockfl9

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Posted 16 June 2012 - 05:57 AM

I got the month wrong.. The bank holiday is AUGUST 21. So banks will be closed from the 18th to 21st...The end of Ramadan. I checked with several Iraqi calendars this Bank Holiday only shows up on ONE. So looks like a recent addition!
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#45 Realdinar

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Posted 16 June 2012 - 06:31 AM

I got the month wrong.. The bank holiday is AUGUST 21. So banks will be closed from the 18th to 21st...The end of Ramadan. I checked with several Iraqi calendars this Bank Holiday only shows up on ONE. So looks like a recent addition!

Good deal, go rv!
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#46 TQueezy

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Posted 16 June 2012 - 01:44 PM

No, you have done the math correctly after they remove the zero's instead of being .00086 dollars per dinar it will be .86 dollars to the dinar. And not to say a dirty word here but that sounds like a L*P to me but I hope not.



1 dinar is 0.00086 us dollars. 1166iqd : 1usd

Minus three zeros, which is divide by 1000, you get

1.16 dinar per dollar.
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#47 fnbplanet

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Posted 16 June 2012 - 02:40 PM

1 dinar is 0.00086 us dollars. 1166iqd : 1usd

Minus three zeros, which is divide by 1000, you get

1.16 dinar per dollar.



THANK YOU!
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#48 rico1

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Posted 17 June 2012 - 11:29 PM

Posted Imagerico1, on 15 June 2012 - 10:09 PM, said:

No, you have done the math correctly after they remove the zero's instead of being .00086 dollars per dinar it will be .86 dollars to the dinar. And not to say a dirty word here but that sounds like a L*P to me but I hope not.


1 dinar is 0.00086 us dollars. 1166iqd : 1usd

Minus three zeros, which is divide by 1000, you get

1.16 dinar per dollar.


Are we not saying the same thing? my example is 1 Dinar = .86 dollars your example 1 Dollar is 1.16 Dinar.





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#49 Ironwolf1974

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Posted 18 June 2012 - 12:25 AM

I keep trying to tell my mom it could still go either way.

I really hope it RV's though, my mother would be pretty crushed if it lopped.
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