Dinar was equal to the dollar!

[yota691]

Economic News

Dinar was equal to the dollar!

Palm - Deputy Governor of the Central Bank of the appearance of Mohammed Saleh said that the bill included proposals for a new currency and the categories that bear and details of technical and economic.

Saleh pointed out during the permit media changing the currency and delete zeros decision taken by the executive and approved by the legislature, and that the project will not be implemented hastily, but will be taken a number of factors to consider before you start to implement it, including the date of the financial year and the strength of the national economy, among other indicators in the favor of the view that This law, if approved, will have a positive impact on the Iraqi currency in several aspects you need during the next phase, which will strengthen the value of the Iraqi currency.

He described the favor of a system of cash payments of the current Iraqi regime miserable, noting that the largest denomination in which value does not exceed twenty dollars, confirming that the deletion of zeros will enhance the value of the Iraqi currency, and reduces the cost of handling cash, The currency in its present estimated size of today Petrlionat dinars, making the process of dealing monetary cost is high.

And the concerns of rigging the new currency in the event issued or it will affect negatively on the economic situation, responded in favor: it reflects the look bleak, do not forget that there are other countries in deciding to switch its currency and dropped them zeros, such as Turkey, Romania and Brazil without being its economy to shocks and thus Iraq is not unknown or running water moving in path not knock him one before is likely to include the new currency for the inhabitants of a coin by the paper.

The increased zeros on the Iraqi dinar to the days of inflation, which came on the value of the Iraqi currency as a result of previous wars and the subsequent economic blockade was over, the currency of Iraq to the paper was printing the former regime, issued in large quantities without a cover, while the Iraqi dinar until the mid-eighties equivalent of more than three U.S. dollars.

But the adviser to Iraqi Prime Minister for Economic Affairs Abdullah Al-Hussein Anbuge said in a press statement: that the rampant corruption in state institutions and the low level of efficiency and economic situation in general in this time is not in favor of lifting the zeros.

He pointed to what he said about it bumps will change the currency and delete zeros, including the risk of fraud and increase the demand for goods causes a fake due to payment of dinars instead of a thousand dinars, as now, explaining that the re-printing of new currency will have the costs of expensive, adding that attempts will be made to persuade the Bank Central to wait in his plans in this regard.

Previously Chairman of the JSC confirmed that Iraqi, earlier, to delete the zeros of the Iraqi currency will not affect the circulation of the Iraqi Stock Exchange and its shares

The director of a money transfer companies abroad Sami Rashid: I think that the lifting of the zeroes from the currency will increase confidence in the currency, and will lead to increased purchasing power of citizens, and will drop the phenomenon of trading blocs, the large cash used by the Iraqis since the nineties.

He believed economic analyst Talal Jassim said the switch of the Iraqi currency a necessary but pointed to the need to provide the conditions necessary for its implementation, particularly the security and political stability, adding that the relative stability of the Iraqi currency after the issuance of currency recently, and the result of the return link Iraq to the global economy and the availability of reserves of foreign currency due to oil exports , encouraged the central bank to consider deleting the zeroes.

Jassim added that lifting the three zeroes will lead to an exchange rate of one dollar per dinar to where Jassim called to the need to follow the policies of peaceful citizens to convince them and get a feel for a period not exceeding two years.

http://www.nakhelnews.com/pages/news.php?nid=11181 No date on it so I can't tell u how old this is.

Edited January 15, 2012 by yota691

[zigmeister]

Interesting. This article leads me to believe it will start at a lower rate then lead to one dollar per dinar.

[yota691]

Interesting. This article leads me to believe it will start at a lower rate then lead to one dollar per dinar.

Zigmeister I just wish they do something!!

[sweet C]

Thanks for posting!!!

[lotsofdinar]

Sounds like another RD article to me. Reducing the face value of the currency from trillions to billions (deleting the zeros) would bring the exchange rate pretty close to a dollar.

[George Hayduke]

Economic News

Dinar was equal to the dollar!

Palm - Deputy Governor of the Central Bank of the appearance of Mohammed Saleh said that the bill included proposals for a new currency and the categories that bear and details of technical and economic.

Jassim added that lifting the three zeroes will lead to an exchange rate of one dollar per dinar to where Jassim called to the need to follow the policies of peaceful citizens to convince them and get a feel for a period not exceeding two years.

http://www.nakhelnews.com/pages/news.php?nid=11181 No date on it so I can't tell u how old this is.

Hmmm.... 25,000IQD to 25 IQD with a value of $21.50 but two years later it could be worth $25?

GH

[Elixirbaby]

Jassim added that lifting the three zeroes will lead to an exchange rate of one dollar per dinar to where Jassim called to the need to follow the policies of peaceful citizens to convince them and get a feel for a period not exceeding two years.

http://www.nakhelnew...s.php?nid=11181 No date on it so I can't tell u how old this is.

I like this part

go rv

[moneysoon]

So, it has been said again! We simply need to sit back and wait.

[yota691]

Hmmm.... 25,000IQD to 25 IQD with a value of $21.50 but two years later it could be worth $25?

GH

Please explain your Math, for some it been alot longer.

Edited January 15, 2012 by yota691

[Rudolph_the_Red]

I think what this article is trying to say is simple. Right now 1 USD = 1170 IQD so $21.37 = 25000 IQD. After the LOP or RD then $21.37 = 25 IQD. Which is close to a 1-1 ratio. Its not saying that its going to RV to a rate of 1:1, that would be nice, but highly unlikely based on this article.

Sometimes my red nose makes me feel like a clown!

[yota691]

I think what this article is trying to say is simple. Right now 1 USD = 1170 IQD so $21.37 = 25000 IQD. After the LOP or RD then $21.37 = 25 IQD. Which is close to a 1-1 ratio. Its not saying that its going to RV to a rate of 1:1, that would be nice, but highly unlikely based on this article.

Sometimes my red nose makes me feel like a clown!

Thanks for input

[Tirebiter]

I think what this article is trying to say is simple. Right now 1 USD = 1170 IQD so $21.37 = 25000 IQD. After the LOP or RD then $21.37 = 25 IQD. Which is close to a 1-1 ratio. Its not saying that its going to RV to a rate of 1:1, that would be nice, but highly unlikely based on this article.

Sometimes my red nose makes me feel like a clown!

If this in fact happens in this scenario, I think I will go ahead and exchange my 25k notes for the 25 notes and just wait for the value to hopefully increase over time.

[yota691]

This article came out Nov 2011 sry folks for the oldness.

[socaljeepnut]

Lots of stuff coming out all at once again about the zero issue.

[zigmeister]

If this in fact happens in this scenario, I think I will go ahead and exchange my 25k notes for the 25 notes and just wait for the value to hopefully increase over time.

We may have to prepare for your scenario. It was my thought as well. We'll see.

[DiveDeepSix]

Ahhh, more riddles from Dr. Seuss and company!

[powerpager]

Good Post, Lets Get Moving !!!

[R Veyron]

When they say "will not impliment hastily" makes me think they considering how to actually do this. That they have not fully decided on what they are doing.Changing a countries currency is not something that happens every day and im am certain that there are a plethra of variables to take into consideration. It can't be easy but I don't think they should sell themselves short by lopping . Im sure they are fully aware of their countries potential. Just have to wait and see how this all unfolds.

[skitealwedrop]

I have never thought that we would see a LOP. Think about it, what benefit would that have on the Iraqi economy? Zero, in my mind. Iraq is currently using USD to pay their bills. I'm thinking we will see a 1 to 1 RV or something very close to get Iraq back in game from a financial/economic stand point. Iraq has to have a currency that has some value, right?

And the story plays on. Go RI/RV!

[Carrello]

I have never thought that we would see a LOP. Think about it, what benefit would that have on the Iraqi economy? Zero, in my mind. Iraq is currently using USD to pay their bills. I'm thinking we will see a 1 to 1 RV or something very close to get Iraq back in game from a financial/economic stand point. Iraq has to have a currency that has some value, right?

And the story plays on. Go RI/RV!

You're the accountant. You tell us.

[thatoneguy]

I like this part

go rv

Man, Elixir. Drop the zeros and 1:1 it? No way Jose! I'm not sitting on 100mil, 50, or whatever. No good for us "low guys/gals". (Dreamy eyes well up w/ tears, drops dinar, and walks off).

[Elixirbaby]

Man, Elixir. Drop the zeros and 1:1 it? No way Jose! I'm not sitting on 100mil, 50, or whatever. No good for us "low guys/gals". (Dreamy eyes well up w/ tears, drops dinar, and walks off).

IMO dropping the three zeros means retiring the notes with three zeros on them. 25,000 note 10,000 note and the 5000 note. I'm not sure how you convince someone to give up their 25k note for a 25 dinar.

[skitealwedrop]

You're the accountant. You tell us.

I expressed my opinion in my post. Even Adam has come off his .10 theory. Let's calm down and be patient.

IMO dropping the three zeros means retiring the notes with three zeros on them. 25,000 note 10,000 note and the 5000 note. I'm not sure how you convince someone to give up their 25k note for a 25 dinar.

Good point. There is no way in hell that Iraq will lop prior to an RI/RV. If you think about it Iraq's currency would be worth less than it is today.

[Sanssouci]

Sounds like another RD article to me. Reducing the face value of the currency from trillions to billions (deleting the zeros) would bring the exchange rate pretty close to a dollar.

Yuuup! That's what is says. Thank you for sharing.

This article came out Nov 2011 sry folks for the oldness.

I did get a sense of vuja de.

"Do you ever get that strange feeling of vuja de? Not deja vu, vuja de. It's the distinct sense that somehow, something that just happened has never happened before. Nothing seems familiar. And then suddenly the feeling is gone. Vuja de." - George Carlin

[zigmeister]

Yuuup! That's what is says. Thank you for sharing.

I did get a sense of vuja de.

"Do you ever get that strange feeling of vuja de? Not deja vu, vuja de. It's the distinct sense that somehow, something that just happened has never happened before. Nothing seems familiar. And then suddenly the feeling is gone. Vuja de." - George Carlin

Just today.