THE CENTRAL BANK OF IRAQ IS READY TO REVALUE THE DINAR

[keepmwlknfny]

Hey don't leave me hanging!

LOL sorry....I tried replying but for some reason it wouldnt post....but anywayz.....yea even if you have your dinar in an electronic account and it redenominates you will not be safe....it will still be affected....if you have lets say 10,000 dinar and it redenominates at a rate of 1000 to 1 then for every 1000 you have it will be removed and you will be left with 1 dinar.....I wish there was a safe haven against a redenomination but unfortunately there isent......

If currently 1USD = .00085 IQD and after a possibly re-denomination (ie losing 3 zeroes) now makes 1 USD = .85 IQD, obviously we are still breaking even. Hypothetically, if I used to have 1,000,000 dinar and now have 1,000 dinar due to the lose of the 3 zeroes and the IQD revalues to $3.00, instead of having 3,000,000 USD I now have 3,000 USD.........is this what you are thinking?

Yes that is correct................redenomination = bad........RV then redenomination = good (depending on the rate)

[onerighthand]

It is hard to grasp the concept, Instead of a thousand little dinars, you trade them in for one big dinar and you end up with the same buying power. Correct?

Another thought. I imagine it would and Will affect the ISX. Stock values change or the amount of stock you own would change?

[keepmwlknfny]

It is hard to grasp the concept, Instead of a thousand little dinars, you trade them in for one big dinar and you end up with the same buying power. Correct?

Another thought. I imagine it would and Will affect the ISX. Stock values change or the amount of stock you own would change?

Correct.......for them, they will have to exchange those bigger bills for smaller denoms until the larger ones are phased out completely and they will be worthless......for us we will be straight going for USD.....hopefully......and yes depending on what they do with the currency it will also affect the ISX...that was another issue that they brought up about how to handle this situation.....I cant quote it exactly and Im not even going to try but to make things short it was considered to be a big headache if they redenominate and it would be confusing as hell.......