Banking expert: Delete the three zeros from the Iraqi currency will impact positively

[carlablum]

Banking expert: Delete the three zeros from the Iraqi currency will impact positively on the Iraqi economy

2010-05-09 12:47:49 05/09/2010 12:47:49

BAGHDAD (Iba) Iraqi bank expert said that the process of deleting three zeros from the Iraqi currency will have a positive impact on the Iraqi economy to Tahedvh of an amendment to the conditions of the Iraqi currency in general.

Said Abdul Aziz Hassoun in contact with the agency, the independent press (Iba) "Many countries have taken action himself, including Turkey, which deleted six zeroes from the currency, and therefore the right of the Iraqi Central Bank could adjust the exchange rate this way, especially since there is a difference large numbers no longer reflects the value of domestic production of Iraq. "

"If the exchange rate is adjusted properly the matter would be meaningful as a whole, especially the central bank set the mechanisms and plans for the replacement of banknotes in another new value and the form and a suitable period to allow replacement of all their bank notes."

The members of the Economic Commission in the previous parliament urged the central bank and Ministry of Finance to address what they described as Baltrhl cash Iraqi funds by raising three zeros from the currency.

He Hassoun that the process of lifting the three zeros from the currency will have a significant impact on the Iraqi market because the dinar would be equivalent to one thousand dinars currently, adding that the process will be of positive influence to support the economy of Iraq through the central bank's plan to strengthen the Iraqi currency exchange rate.

He did not specify when the central bank will be picked up the implementation process, while some media sources leaks about the impossibility of implementation of the Central Bank for this operation is to Ststensvh financial resources and enormous economic cadres.

http://translate.googleusercontent.com/translate_c?hl=en&sl=ar&u=http://www.ipairaq.com/index.php%3Fname%3Dinner%26t%3Deconomy%26id%3D24920&prev=/search%3Fq%3Dnahrain%26hl%3Den%26client%3Dfirefox-a%26channel%3Ds%26rls%3Dorg.mozilla:en-US:official%26hs%3D6EN%26sa%3DG&rurl=translate.google.com&usg=ALkJrhhFr6h06XhxQlf1Xtx4GCmNQro29Q

[mrref]

Ok can someone break this down and explain what this does to the RV. Is it good or bad.

[SuperFlyJr]

If he's talking about strengthening the dinar then that sounds like RV to me, not lop! Deleting 3 zeroes would take the exchange rate from $1 = 0.00086 to $1 = 0.86.

[truckerron49]

Ok can someone break this down and explain what this does to the RV. Is it good or bad.

Well, I hate to say it, but she has it outlined in red.. so you should be able to decipher it.. However it is more of the same old lop theory and goes against everything else we have been seeing in the news. I lop with no reevaluation would be catastrophic to the new Iraqi financial upswing.. I would say that this article, in my opinion, is once again incomplete.. No offence to the person who shared it with us is meant, as this is teh way the Iraqi news reports........

[mrref]

Thats the point that I was making, doesn't make sense, its incomplete, so that's why I was asking if someone could break this info down and explain what it means. Anybody from Iraq in the Forum Where is the big "E"??????????????

[sonny1]

ACCORDING TO THIS ARTICLE, THE WAY THERE TALKING ABOUT IT, I TAKE THIS AS A LOP ARTICLE. I KNOW THERE IS NO WAY THEY WOULD EVER LOP. IT WOULD ONLY CAUSE MAJOR CAOS IF THEY LOPPED, AND MAKE THEM MORE HATED THAN THEY ALREADY ARE, BUT IN THE CONTENTS OF THIS ARTICLE HE IS TALKING ABOUT A LOP!!

[yothor]

it talked about the Turkish Lira. wikipedia reads,

2004 — 1 U.S. dollar = 1,350,000 lira

2007 — 1 U.S. dollar = 1.26 new lira (The use of New Turkish Lira, which drops 6 zeros from the currency-Turkish Lira-, is implemented in 2005. Turkish Lira and New Turkish Lira were used together in 2005. After 2009, New Lira was converted to Lira, but New Lira used as currency until 31 December 2009)

[kjwayne]

the process of lifting the three zeros from the currency will have a significant impact on the Iraqi market because the dinar would be equivalent to one thousand dinars currently, adding that the process will be of positive

Read more:

My take on this is that when they drop the three "0", that would make 1 dinar worth $.86 USD. That would be a lop and anrv at the same time. The dinars that are out would have to be brought back in to the CBI to be exchanged for thier new money, in other words , a time frame to do this. IMO , this article is talking rv of $.86.

[retirementafterrv]

Banking expert: Delete the three zeros from the Iraqi currency will impact positively on the Iraqi economy

2010-05-09 12:47:49 05/09/2010 12:47:49

BAGHDAD (Iba) Iraqi bank expert said that the process of deleting three zeros from the Iraqi currency will have a positive impact on the Iraqi economy to Tahedvh of an amendment to the conditions of the Iraqi currency in general.

Said Abdul Aziz Hassoun in contact with the agency, the independent press (Iba) "Many countries have taken action himself, including Turkey, which deleted six zeroes from the currency, and therefore the right of the Iraqi Central Bank could adjust the exchange rate this way, especially since there is a difference large numbers no longer reflects the value of domestic production of Iraq. "

"If the exchange rate is adjusted properly the matter would be meaningful as a whole, especially the central bank set the mechanisms and plans for the replacement of banknotes in another new value and the form and a suitable period to allow replacement of all their bank notes."

The members of the Economic Commission in the previous parliament urged the central bank and Ministry of Finance to address what they described as Baltrhl cash Iraqi funds by raising three zeros from the currency.

He Hassoun that the process of lifting the three zeros from the currency will have a significant impact on the Iraqi market because the dinar would be equivalent to one thousand dinars currently, adding that the process will be of positive influence to support the economy of Iraq through the central bank's plan to strengthen the Iraqi currency exchange rate.

He did not specify when the central bank will be picked up the implementation process, while some media sources leaks about the impossibility of implementation of the Central Bank for this operation is to Ststensvh financial resources and enormous economic cadres.

http://translate.googleusercontent.com/translate_c?hl=en&sl=ar&u=http://www.ipairaq.com/index.php%3Fname%3Dinner%26t%3Deconomy%26id%3D24920&prev=/search%3Fq%3Dnahrain%26hl%3Den%26client%3Dfirefox-a%26channel%3Ds%26rls%3Dorg.mozilla:en-US:official%26hs%3D6EN%26sa%3DG&rurl=translate.google.com&usg=ALkJrhhFr6h06XhxQlf1Xtx4GCmNQro29Q

thank for the post

[6ftnsunny]

No, it is a legit theory. It very well could happen that they delete the zeros from the exisitng currency then revalue it. DO you guys really think this investment/ lottery ticket is a 100% gaurantee? Come on, let's

keep our heads on straight with this whole thing. Even if that does happen, hopefully at worst we will be able to double what we invested in the currency. Hope for the best, expect the worst, but don't let yourself get irrational about this like so many have.

[yothor]

its quotes the guy

"Many countries have taken action himself, including Turkey, which deleted six zeroes from the currency, and therefore the right of the[b] Iraqi Central Bank could adjust the exchange rate this way, especially since there is a difference large numbers no longer reflects the value of domestic production of Iraq. "

In my eariler post, I showed exactly what Turkey did. He said they could do it this way. Nothing about 25000 dinar will be 25.

[newtothis]

[i knew they were going to do it this way, that is why i did not invest heavily in dinars. it is good bizness for them to do so. we, the dummies, buy all these worthless dinars, hoping that when a rv hits, it will be at or dollars!!! the iraqi gov has sold so much of their currency, knowing that the investors would hope for a big rv turnaround. they, in order to not bust in their new economy, have only GOT TO RV AT A MUCH LOWER RATE THEN WE EXPECT. THEIR NOT STUPID. IN OTHER WORDS, IT IS A BIG RIPOFF OF COURSE, AND I;M SURE THEY HAD THIS IN MIND FROM THE VERY BEGINNING.

[Barboza]

Hello,

$.86 = $860,000...where is the rip off in that ?

Would you please elaborate on your math? IMO it is confusing?

Hello,

$.86 = $860,000...where is the rip off in that ?

Would you please elaborate on your math? IMO it is confusing!!!

Read more: http://dinarvets.com/forums/index.php?app=forums&module=post§ion=post&do=reply_post&f=5&t=18180&qpid=117506#ixzz0nTZS3IU1

[k98nights]

Would you please elaborate on your math? IMO it is confusing?

Would you please elaborate on your math? IMO it is confusing!!!

Read more: http://dinarvets.com/forums/index.php?app=forums&module=post§ion=post&do=reply_post&f=5&t=18180&qpid=117506#ixzz0nTZS3IU1

.86 cents X 1000000 dinar = 860,000 dollars

If you paid a grand for a million and you get 860 grand back... I'd say you're not getting ripped off at all.

[Chief V]

the process of lifting the three zeros from the currency will have a significant impact on the Iraqi market because the dinar would be equivalent to one thousand dinars currently, adding that the process will be of positive

Read more:

My take on this is that when they drop the three "0", that would make 1 dinar worth $.86 USD. That would be a lop and anrv at the same time. The dinars that are out would have to be brought back in to the CBI to be exchanged for thier new money, in other words , a time frame to do this. IMO , this article is talking rv of $.86.

He Hassoun that the process of lifting the three zeros from the currency will have a significant impact on the Iraqi market because the dinar would be equivalent to one thousand dinars currently

I'm going to have to agree with KJ on this one, it also sounds as if they're looking at the GCC with the new currency as well, since their has been some speculation on that as well that they could convert to a Gulfwide or Middle Eastern Currency similiar to the Euro. That will take time, although I don't expect them to drop to .86 right off the bat, it would be nice......just have to wait and see.

[nutrinobaem]

Hello,

$.86 = $860,000...where is the rip off in that ?

Yes its a certain ripoff!! you don't understand, they drop 3 zeroes first from their currency making your 25000 dinar bank note equivalent to 25 new dinar, then they revalue it to 0.86 so get the same amount of dollars when you exchange that 25000 bank not since its new value is equivalent of only 25 new dinars

[Serenity]

Yes its a certain ripoff!! you don't understand, they drop 3 zeroes first from their currency making your 25000 dinar bank note equivalent to 25 new dinar, then they revalue it to 0.86 so get the same amount of dollars when you exchange that 25000 bank not since its new value is equivalent of only 25 new dinars

Our 25000 notes will be worth 25000 x .86 in exchange.....The Iraqi people will exchange their 25000 notes for 25 notes....We will become wealthy; the Iraqi people will gain purchasing power...Currency holders outside Iraq have nothing to do with the exchange to smaller notes...Outside holders will be exchanged into their respective currencies values and all three zero notes will be pulled back this way and destroyed...When the smaller denoms are introduced, the only time outsiders will see them is at their new values and when you want to exchange for dinars at a bank to go on vacation in Iraq...I hope this helps!!!

[kingjaffi]

Yes its a certain ripoff!! you don't understand, they drop 3 zeroes first from their currency making your 25000 dinar bank note equivalent to 25 new dinar, then they revalue it to 0.86 so get the same amount of dollars when you exchange that 25000 bank not since its new value is equivalent of only 25 new dinars

And the lopsters awakes. NO ONE KNOWS WHAT WILL HAPPEN! We are all speculators but with facts and hope! nutrinobaem quit it already! Go RV!

[Mongo]

...........................

[captspiffy]

Hell's Bells !!!! I'd take .86 and be tickled all the way to conversion, and I wouldn't

even need a feather !!! All I want to do is see it happen! Enough talk about it,

GET ON WITH IT !

" It will happen when it happens, and not a second earlier! "

[nutrinobaem]

Our 25000 notes will be worth 25000 x .86 in exchange.....The Iraqi people will exchange their 25000 notes for 25 notes....We will become wealthy; the Iraqi people will gain purchasing power...Currency holders outside Iraq have nothing to do with the exchange to smaller notes...Outside holders will be exchanged into their respective currencies values and all three zero notes will be pulled back this way and destroyed...When the smaller denoms are introduced, the only time outsiders will see them is at their new values and when you want to exchange for dinars at a bank to go on vacation in Iraq...I hope this helps!!!

I don't understand why Iraqi people would get only 25 dinars for their 25000 notes and international investors would get 25000? After all both have invested same amount to buy dinars , won't this be a big loss to them

[carlablum]

Expert: Delete the zeroes of the Iraqi currency will positively affect the economy

2010-05-10 15:20

Iraqi bank expert said that the process of deleting three zeros from the Iraqi currency will affect a positive factor "to the Iraqi economy to Tahedvh of an amendment to the conditions of the Iraqi currency factor" in general.

The aim for Hassoun said in a statement released by the independent press that countries taken the same action, including Ankara's omitted six zeros off its currency, right Iraqi adjusted rate of exchange in this way, especially since there is a difference large numbers no longer reflects the value of local production of Iraq.

"If it adjusts the exchange rate factor" decent matter meaningful as a whole, especially as select mechanisms and plans for the replacement of banknotes another part of the new value and duration of appropriate permits everyone to replace their bank notes, adding that the effectiveness of the operation will be of positive support of the Iraqi economy through a plan in promote the exchange rate of the Iraqi currency.

http://translate.goo...iL0tntG34LgIJ9g

Read more: http://dinarvets.com/forums/index.php?/topic/18277-delete-the-zeroes-of-the-iraqi-currency/page__pid__117810__st__0entry117810#ixzz0nXmzIYP3

[mythunter]

Confused.... Are you talking about a lop or an RV?

[mham50]

Yes its a certain ripoff!! you don't understand, they drop 3 zeroes first from their currency making your 25000 dinar bank note equivalent to 25 new dinar, then they revalue it to 0.86 so get the same amount of dollars when you exchange that 25000 bank not since its new value is equivalent of only 25 new dinars

This method of making 25000 to 25 and the the dollar value to .86 would be no re-evaluation. 25000 at .00086 is the same as 25 at .86 dollar value. $21.50. This can not be the case if the object is to re-evaluate the dinar,

There would be not re-evaluation if 25000 dinar at .00086 is equilant to 25 dinar at .86. The value would be US 21.50 for 25000 or 25 dinar.

[Guest Tricky]

One important fact that no one has mentioned, why does a country do a LOP? They do it to fight "out of control" inflation and this is why it doesn't make sense for Iraq to do a LOP because their inflation is in single digits and they have little to no debt. Iran and Turkey are two countries that have done LOPs in the last several years and here's an article on why Iran was looking at doing a LOP.

http://www.huffingtonpost.com/2008/09/01/iran-considers-lopping-ze_n_123013.html

Tricky