RV rate explained

[colbyco]

.10 would be only for the old notes with the 3 zeros.New denoms will have a 1:1 rate to the dollar. Makes perfect sense!

100 old for 1 new ! Way better than 1000 old to 1 new! right?

Made perfect sense back in 2003 when Iraq's exchanged their Swiss dinar for the current dinar at 150:1

[Redwizard]

Ok so, 1000 dinar at .10 = $100.00

1 new dinar (minus 000) at $1.00 = $1.00, give me the .10

[colbyco]

Ok so, 1000 dinar at .10 = $100.00

1 new dinar (minus 000) at $1.00 = $1.00, give me the .10

1 new dinar = 1.00 usd

1 old dinar= .10 you got it?

[Nelg]

Practically it makes no sense at all! Value is needed in the dinar. Anything less that 1 to 1 is pure foolishness.

[mrref]

.10 would be only for the old notes with the 3 zeros.New denoms will have a 1:1 rate to the dollar. Makes perfect sense!

100 old for 1 new ! Way better than 1000 old to 1 new! right?

Made perfect sense back in 2003 when Iraq's exchanged their Swiss dinar for the current dinar at 150:1

You have a link to this? Or is it just your thinking??

[colbyco]

AGAIN FOLKS ! the Dinar will revalue at a 1:1 exchange rate to the NEW Dinar. The old Dinar will have to be exchanged for 100 old for 1 new! that equates to .10 for your old Dinar.

[colbyco]

Denominations of current Dinars will work perfectly with the New Dinars coexisting until all old Dinars are removed from circulation . Look carefully at the denominations and you will see the only way that the currency can coexist without overlapping is by removing only one zero! not three or two .

AGAIN REMEMBER you will get only 1 New Dinar for every 100 Old you turn in.

[TXNOLE]

So if you invested $1,000 in dinars, your return would be $10,000...........far from the millions most expect, but not a bad return on a highly speculative investment.

[colbyco]

So if you invested $1,000 in dinars, your return would be $10,000...........far from the millions most expect, but not a bad return on a highly speculative investment.

[/quote

NO ! but if you bought one million dinars at 1000.00 dollars you will have 100,000.00 dollars at cash in.

Edited March 15, 2012 by colbyco

[crazybroad]

Colby i think you nailed it right on. Why didn't we all see that at first? perfect logic.

[TXNOLE]

Does that math work? 1,000,000 divided by 100 = 10,000 x $1.00 = $10,000

[jackster]

Ok so, 1000 dinar at .10 = $100.00

1 new dinar (minus 000) at $1.00 = $1.00, give me the .10

You are correct. They will 3 0's not 2 0's.

1,000,000 minus 3 0's is 1,000. So, $1 to 1 IQD. The 1 million IQD you possess will become 1,000 IQD. At a 1-to-1 exchange the 1,000 IQD becomes $1,000. How much did you pay for your Dinar?

"Look carefully at the denominations and you will see the only way that the currency can coexist without overlapping is by removing only one zero! not three or two .

AGAIN REMEMBER you will get only 1 New Dinar for every 100 Old you turn in."

"1 New Dinar for every 100 Old you turn in" is removing 2 zeros not 1 zero.

So the CBI doesn't understand what they're doing?

25,000.00 becomes 25.00

10,000.00 becomes 10.00

5,000.00 becomes 5.00

1,000.00 becomes 1.00

Here's the tricky part:

500.00 becomes 0.50 Will they create a 0.50 note? Probably not. But they could give you a .50 coin or you could trade in two 500 IQD notes(1,000 IQD) for one 1 IQD.

250.00 becomes 0.25 Same thing but four 250 IQD notes for 1 IQD

Math? Divide the current Dinar by 1,000. Not 100. That's how 3 zeros are removed.

[JayLee202]

I hope ya'll wrong!