shamisc Posted March 9, 2010 Report Share Posted March 9, 2010 "The Central Bank of Iraq has announced their plans to redenominate the Iraqi Dinar to ease cash transactions. By the end of 2010, they intend to drop three zeros from the nominal value of bank notes. It should be noted that the actual value of the dinar will remain unchanged. That means that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) will both be worth the same amount in US Dollars. As stated by the Central Bank of Iraq."Link to info: http://www.xe.com/currency/iqd-iraqi-dinarAnd YES, I know this is not the first time this was posted! Link to comment Share on other sites More sharing options...
dreamstealer Posted March 9, 2010 Report Share Posted March 9, 2010 It's been discussed before in many other threads. Thanks for the effort though Link to comment Share on other sites More sharing options...
TIM Posted March 9, 2010 Report Share Posted March 9, 2010 Please not again. This is getting old as i am! Link to comment Share on other sites More sharing options...
shamisc Posted March 9, 2010 Author Report Share Posted March 9, 2010 I have been totally against it before....but now that I read it closely, It does say that 1000 IQD will =1 IQD and be worth same amount in USD(.000855) IS the XE.com website incorrect? I've seen the re-denomination discussed in other threads, but didn't see what It said above! I'm really disappointed until I hear otherwise! Link to comment Share on other sites More sharing options...
ronscarpa Posted March 9, 2010 Report Share Posted March 9, 2010 I have been totally against it before....but now that I read it closely, It does say that 1000 IQD will =1 IQD and be worth same amount in USD(.000855) IS the XE.com website incorrect? I've seen the re-denomination discussed in other threads, but didn't see what It said above! I'm really disappointed until I hear otherwise!Shamisc,As was mentioned above - this was discussed at length, and the CBI denied it. However, if it did go from 1170/$1 (.000855) to 1000/$1 (.001), it would be a 17% increase; just for the sake of information. RON Link to comment Share on other sites More sharing options...
DaveH Posted March 9, 2010 Report Share Posted March 9, 2010 discussed, explained, ad nauseum Link to comment Share on other sites More sharing options...
cdb Posted March 9, 2010 Report Share Posted March 9, 2010 "The Central Bank of Iraq has announced their plans to redenominate the Iraqi Dinar to ease cash transactions. By the end of 2010, they intend to drop three zeros from the nominal value of bank notes. It should be noted that the actual value of the dinar will remain unchanged. That means that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) will both be worth the same amount in US Dollars. As stated by the Central Bank of Iraq."Link to info: http://www.xe.com/currency/iqd-iraqi-dinarAnd YES, I know this is not the first time this was posted!No plans to make ID1000 = $1 Link to comment Share on other sites More sharing options...
ToddS Posted March 9, 2010 Report Share Posted March 9, 2010 "The Central Bank of Iraq has announced their plans to redenominate the Iraqi Dinar to ease cash transactions. By the end of 2010, they intend to drop three zeros from the nominal value of bank notes. It should be noted that the actual value of the dinar will remain unchanged. That means that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) will both be worth the same amount in US Dollars. As stated by the Central Bank of Iraq."Link to info: http://www.xe.com/currency/iqd-iraqi-dinarAnd YES, I know this is not the first time this was posted!It is ok just because you had not seen it before and brought it here, it bothered us the first time we saw it as well but it is pretty much not an issue at this time. Thank you for the effort though and do not let this prevent you from bringing other news to the site you may be the one that finds the "smoking gun" we all seek.ToddS Link to comment Share on other sites More sharing options...
Enorrste Posted March 9, 2010 Report Share Posted March 9, 2010 (edited) People, people, people; I've already told you long ago that from the statement, "It should be noted" onward was an "insertion" from the reporter and NOT part of the CBI statement. Remember? Throw it out. It is not consistent with my "chronology" post. Steve Edited March 9, 2010 by ToddS Link to comment Share on other sites More sharing options...
shamisc Posted March 9, 2010 Author Report Share Posted March 9, 2010 Thanks guys...I feel much less nausea than just a few mins ago! Been buying dinars for 3-4 months, reading on here for a month or so! So far, it makes days really long, but exciting! Especially on the weekends!( Waiting to see what Monday brings) I read somewhere a while back that the $25,000 would hold it's value until re-circulated through the CBI...then the "new" currency would replace it! That makes much more sense..to me. If I was an Iraqi man and was told that my ex:5,000,000 was now only worth 5,000...I would flip my wig!!! As would most of the people! Link to comment Share on other sites More sharing options...
demotrek Posted March 9, 2010 Report Share Posted March 9, 2010 I wondered this too. Glad you asked (again) and not me Link to comment Share on other sites More sharing options...
gr8cooker142 Posted March 9, 2010 Report Share Posted March 9, 2010 Thanks guys...I feel much less nausea than just a few mins ago! Been buying dinars for 3-4 months, reading on here for a month or so! So far, it makes days really long, but exciting! Especially on the weekends!( Waiting to see what Monday brings) I read somewhere a while back that the $25,000 would hold it's value until re-circulated through the CBI...then the "new" currency would replace it! That makes much more sense..to me. If I was an Iraqi man and was told that my ex:5,000,000 was now only worth 5,000...I would flip my wig!!! As would most of the people!How much did you pay for your 5 mil dinars? Link to comment Share on other sites More sharing options...
krucialmix Posted March 9, 2010 Report Share Posted March 9, 2010 Yawn! ..... Link to comment Share on other sites More sharing options...
shamisc Posted March 9, 2010 Author Report Share Posted March 9, 2010 (edited) Not saying I have 1 mil...was just an ExampleThank you for adding that. I was going to suggest to you that it is never a good Idea to discuss how much IQD you hold or have invested, just to be safe.ToddS Edited March 9, 2010 by ToddS Link to comment Share on other sites More sharing options...
tj34 Posted March 9, 2010 Report Share Posted March 9, 2010 To be fair, nobody has posted that article in 6 days. I believe that is a new DinarVet record.But now it's started back up again. My bet is Thursday that someone posts this same article again along with their LOP question. Someone bet Wednesday, I dare you? Link to comment Share on other sites More sharing options...
dmd Posted March 9, 2010 Report Share Posted March 9, 2010 ok this is iraq never know Link to comment Share on other sites More sharing options...
golferking Posted March 9, 2010 Report Share Posted March 9, 2010 iraq always drags their feet Link to comment Share on other sites More sharing options...
jocko129 Posted March 9, 2010 Report Share Posted March 9, 2010 People, people, people; I've already told you long ago that from the statement, "It should be noted" onward was an "insertion" from the reporter and NOT part of the CBI statement. Remember? Throw it out. It is not consistent with my "chronology" post. SteveDid everyone get this!!!!!!! Pls we sound like a dog chasing its tail, going around and around and around for ever!!!this case is closed!!! Link to comment Share on other sites More sharing options...
armondtoth Posted March 9, 2010 Report Share Posted March 9, 2010 (edited) if you know this was not the first time this has been posted, why post it again? Edited March 9, 2010 by ToddS Link to comment Share on other sites More sharing options...
sammiePJ Posted March 9, 2010 Report Share Posted March 9, 2010 if you know this was not the first time this has been posted, why post it again?it's just to get our blood flowing.. im not worried.. we have seen it before and the bottom line.. is this.. until we have a definate answer to all our long awaited questions.. we must just take things with a grain of salt.. to those who post articles... thanks for your input..be safe and be blessed...my dinar family:woot: Link to comment Share on other sites More sharing options...
EmilyJJJ Posted March 9, 2010 Report Share Posted March 9, 2010 Ok people. if it only revalues at a penny you still doubled your money what are you complaining about. We just need to HURRY UP and BE PATIENT. This will happen when it is going to happen. We do not know the date, we do not know the rate. We just know that it will eventually happen. Reading on this sight and getting upset over a smoke screen is not going to make it any easier. Just Chill out and wait... Link to comment Share on other sites More sharing options...
War Eagle Posted March 9, 2010 Report Share Posted March 9, 2010 At a penny,most people will have about a 1100 % profit!!!!! Link to comment Share on other sites More sharing options...
Kent Posted March 9, 2010 Report Share Posted March 9, 2010 People, people, people; I've already told you long ago that from the statement, "It should be noted" onward was an "insertion" from the reporter and NOT part of the CBI statement. Remember? Throw it out. It is not consistent with my "chronology" post. SteveNote that the XE article links (last phrase hyperlink) to the Reuters article also posted on the XE website:http://www.xe.com/currency/iqd-iraqi-dinarIt says: "An Iraqi cabinet committee ordered the change in 2007, but the central bank did not think it appropriate until recently, Kasim said. The dinar's value will remain unchanged, he said." Reuters is directly contradicting your statement Steve. IMO, it is also significant that with XE's statement we have currency trading experts interpreting the news. We can certainly disagree with them, but it is significant that they are putting their reputation out there and taking a stand and not retracting. Many in this forum have suggested XE as a credible source of forex information - that is until they posted this statement about a lop and no one wanted to believe it. Link to comment Share on other sites More sharing options...
FDyer Posted March 9, 2010 Report Share Posted March 9, 2010 As far as re-posting...People, please keep in mind that some members are fairly new to this site and learning/researching. (I am.) Perhaps would be nice to kindly refer them to other posts that already ask the questions/concerns they are posting that are duplicates. Link to comment Share on other sites More sharing options...
DPEASNUTZ Posted March 9, 2010 Report Share Posted March 9, 2010 Im still not sure you won't lose the value. Link to comment Share on other sites More sharing options...
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