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Dinar News I may be crazy, but read this VERY carefully! taken from XE.com


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"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-dinar

And YES, I know this is not the first time this was posted!

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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!

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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 ;)

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"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-dinar

And YES, I know this is not the first time this was posted!

No plans to make ID1000 = $1

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"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-dinar

And 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.

:woot:

ToddS

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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 by ToddS
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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!

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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?

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Not saying I have 1 mil...was just an Example

Thank 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 by ToddS
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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?

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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

Did everyone get this!!!!!!! Pls we sound like a dog chasing its tail, going around and around and around for ever!!!this case is closed!!!

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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:

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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...

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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

Note 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-dinar

It 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.

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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.

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