CBI Source: reveal the intentions to raise the value of each Iraqi Dinar to $1 usd per IQD

[BigFrankD]

An RD takes them to .86, not 1.

[dvforumuser]

Perhaps I read the article incorrectly, but although it does says after deleting the zeros, it did also say it would be a gradual climb to 1 USD. Wouldn't an RD require an immediate jump to 1 USD? If not, the new notes would literally be worthless.

An RD today would be an immediate jump to 86 cents for 1 new-dinar, to match a 1000:1 IQD to new-dianr exchange, and a 0.00086 USD to 1 IQD exchange. A slow rise to an even $1 for the new-dianr would then mean a slow rise for the IQD to 0.001 from 0.00086 . If you bought at $1200/M (i.e. 1 IQD to 0.0012 USD) you would still lose money in this scenario. Edited March 25, 2012 by dvforumuser

[sanders2340]

Folks that first paragraph plainly states that the value will be raised GRADUALLY until the replacement currency is introduced. When the replacement currency is introduced, it will be 1 to 1. Look for it to come out fairly low. Adam is probably right with his ten cents theory. I will jump up and down for ten cents Just be prepared for a low initial rate.

[dinarful]

Great article....I am ready!!

[DinarDana]

Folks that first paragraph plainly states that the value will be raised GRADUALLY until the replacement currency is introduced. When the replacement currency is introduced, it will be 1 to 1. Look for it to come out fairly low. Adam is probably right with his ten cents theory. I will jump up and down for ten cents Just be prepared for a low initial rate.

This is clearly what I understood as well. Thank you.

[HughJeffin Byrd]

An RD takes them to .86, not 1.

a .86 = $1.17

[BigFrankD]

a .86 = $1.17

.86 dollars per dinar = $.86.

[HughJeffin Byrd]

.86 dollars per dinar = $.86.

Wrong... .86 = $1.17... unless there is a $ in front, then the rate is much different then the dollar amount.

http://www.safedinar.com/Default.asp

go to the calculator and type in 0.86 for the rate

[BigFrankD]

Wrong... .86 = $1.17... unless there is a $ in front, then the rate is much different then the dollar amount.

http://www.safedinar.com/Default.asp

go to the calculator and type in 0.86 for the rate

No, exchange rates go both ways. Saying .86 dollars per dinar is the exact same value as saying 1.17 dinar per dollar, and if they delete three zeros it's $.86.

[rightsonword]

An RD today would be an immediate jump to 86 cents for 1 new-dinar, to match a 1000:1 IQD to new-dianr exchange, and a 0.00086 USD to 1 IQD exchange. A slow rise to an even $1 for the new-dianr would then mean a slow rise for the IQD to 0.001 from 0.00086 . If you bought at $1200/M (i.e. 1 IQD to 0.0012 USD) you would still lose money in this scenario.

True, I guess it depends on when the NIQD is introduced, before or after the rise in exchange rate. This article at least seems to suggest they may be introduced after the rise.

[RodandStaff]

Thanks Lady C, nice find. I can't honestly wrap my brain around a slow increase though, I know that is a popular opinion however. By example... this isn't your normal stock... say Apple, or Walmart. But what if most folks "knew" that the stock would go up to full value (say in the 1.00 to 3.00+ rate for the dinar)... would they just sit back and watch it happen or jump on the band wagon like a duck on a June bug in droves? That to me would be the most logical outcome if the rate came out too low.

Speaking from a logical standpoint only... coming out at $1.00 would make more sense... creates less confusion for the business folks. After just reading Delta's thread "They walk among us" it could be a real nightmare for shop owners if it came out at any other low rate... but a 1 to 1 rate would make the transition much easier. That.. and lots of folks would cash out 100% at $1.00, and then if it went up as Shabbs has said.. to the highest in the M.E.... they would save a boat load when it came to cashing in. So in my opinion... if you can afford to save some of your dinar, and the roller coaster doesn't bother you too much ... you just might see an ever higher rate of return in 3 to 6 months or so, if indeed that is the route they go (but then... nobody knows just yet). I don't think they will wait much longer than that... if for no other reason than them wanting their status and position of top dog back asap.... imo. Either way... git-r-dun boyz... just git-r-dun!!!

Come On RV Baby!!!

[moneysoon]

If you are crooked, confusion is your friend. If you are upright, simplicity is your Brother. My prayer is that the good folks over there are ready to "straighten up and fly right." Blessings!

[HisHands]

Thanks Lady C, nice find. I can't honestly wrap my brain around a slow increase though, I know that is a popular opinion however. By example... this isn't your normal stock... say Apple, or Walmart. But what if most folks "knew" that the stock would go up to full value (say in the 1.00 to 3.00+ rate for the dinar)... would they just sit back and watch it happen or jump on the band wagon like a duck on a June bug in droves? That to me would be the most logical outcome if the rate came out too low.

Speaking from a logical standpoint only... coming out at $1.00 would make more sense... creates less confusion for the business folks. After just reading Delta's thread "They walk among us" it could be a real nightmare for shop owners if it came out at any other low rate... but a 1 to 1 rate would make the transition much easier. That.. and lots of folks would cash out 100% at $1.00, and then if it went up as Shabbs has said.. to the highest in the M.E.... they would save a boat load when it came to cashing in. So in my opinion... if you can afford to save some of your dinar, and the roller coaster doesn't bother you too much ... you just might see an ever higher rate of return in 3 to 6 months or so, if indeed that is the route they go (but then... nobody knows just yet). I don't think they will wait much longer than that... if for no other reason than them wanting their status and position of top dog back asap.... imo. Either way... git-r-dun boyz... just git-r-dun!!!

Come On RV Baby!!!

Since Rod is bringing this up....if they come out low and slowly rise....won't all the businesses, banks, schools...basically everyone have to change the prices, tuitions, etc every time it makes a move? Seems to me that would be a literal nightmare for them to do this. Maybe I am looking at it wrong, and I stand open for correction, just using some common sense since I run a business here in the states and cannot imagine having to change my rates every time the currency moves.

[RodandStaff]

Since Rod is bringing this up....if they come out low and slowly rise....won't all the businesses, banks, schools...basically everyone have to change the prices, tuitions, etc every time it makes a move? Seems to me that would be a literal nightmare for them to do this. Maybe I am looking at it wrong, and I stand open for correction, just using some common sense since I run a business here in the states and cannot imagine having to change my rates every time the currency moves.

Your right HisHands... "every single move would mean changing everything in the pricing structure"... that is a recipe for a nightmare with a lot of short fuses imo.

[Carrello]

Carrello, I think everyone's nerves are pretty much raw lately, All I'm reading are some pretty high emotions.

Remember where we are at in our minds... Looking forward to looking back

Good advice, Shelley.

[HisHands]

Your right HisHands... "every single move would mean changing everything in the pricing structure"... that is a recipe for a nightmare with a lot of short fuses imo.

That would be so hard to comprehend even here in America, let alone in Iraq where I do not thnk the people are as highly technologically advanced.

If people knew that it was going to go up like this slowly, wouldn't there be a run on the money and the CBI lose even more money because people would know it was going to appreciate. IMHO they would lose more money because EVERYONE would then know what was happening. Right now it is still a skeptical investment in many people's eyes. It would be like a sure bet to most investors. Once again, open to other opinions if I am totally off base. Just makes sense that it would probably cost them a lot more in the long run if they truly did it over a period of time.

[RVPleaseToday]

Inside Iraq, the exchange rate means nothing. A Dinar is a Dinar. There would be no confusion at all if the exchange rate rose gradually. The Dinar is pegged to th USD, which means the exchange rate is only important if you are exchanging Dinar to USD or vice versa.

The dollar's exchange rate changes constantly, because it is traded on the open market, but we don't have to constantly refigure things within the US, because here, a dollar is a dollar.

Edited March 25, 2012 by RVPleaseToday

[crusher]

That would be so hard to comprehend even here in America, let alone in Iraq where I do not thnk the people are as highly technologically advanced.

If people knew that it was going to go up like this slowly, wouldn't there be a run on the money and the CBI lose even more money because people would know it was going to appreciate. IMHO they would lose more money because EVERYONE would then know what was happening. Right now it is still a skeptical investment in many people's eyes. It would be like a sure bet to most investors. Once again, open to other opinions if I am totally off base. Just makes sense that it would probably cost them a lot more in the long run if they truly did it over a period of time.

I agree with what you are saying. If a sure bet to most investors came up they wouldn't be buying a few hundred dollars worth, but they would invest big amounts of money on a sure thing. Who wouldn't, and It would cost the CBI big time. I find it hard that they would go this route. It would be like the CBI telling us a sure date and rate. Investors would go gaga and sell their souls for cash to invest. I cant see how they could go this way, but its only my opinion and gut feeling.

[Tubbs]

wiggle,wiggle,wiggle,wiggle, wiggle

I'm sexy and I know it

Adam told me to WORK out

On on the beach (( Belize) in my speedos trying to tan my cheeks

Go Rv :cool:

[hoosier1470]

with the Central Bank will raise the value of the dinar against the dollar gradually towards the day to begin replacement where the value will be in the absence of a wiggle one equivalent of IQD one US dollar.

Ok sounds like they're going to come out small and be up to a dollar by the time the new dinars are ready for distribution.

Well, if they are releasing new notes in September...then we should begin seeing some substantial changes in the exchange rate very soon!! Go RV!

[DinarDana]

Inside Iraq, the exchange rate means nothing. A Dinar is a Dinar. There would be no confusion at all if the exchange rate rose gradually. The Dinar is pegged to th USD, which means the exchange rate is only important if you are exchanging Dinar to USD or vice versa.

The dollar's exchange rate changes constantly, because it is traded on the open market, but we don't have to constantly refigure things within the US, because here, a dollar is a dollar.

True, however you are somewhat correct, but unless you haven't noticed our prices change with food items, gas and things of this nature. Other imported big ticket items, like cars and furniture, the prices will not change because there is not a fast turnover in the marketplace.

So in some cases the prices will absolutely change on what appears to be a daily basis. If a shop owner imports oranges from Italy and the exchange rate fluctuates, after he sells he will need to reorder, if the reorder (import price) changes, his pricing will reflect the new import price.

[Canuklady]

Thanks Lady C, nice find. I can't honestly wrap my brain around a slow increase though, I know that is a popular opinion however. By example... this isn't your normal stock... say Apple, or Walmart. But what if most folks "knew" that the stock would go up to full value (say in the 1.00 to 3.00+ rate for the dinar)... would they just sit back and watch it happen or jump on the band wagon like a duck on a June bug in droves? That to me would be the most logical outcome if the rate came out too low.

Speaking from a logical standpoint only... coming out at $1.00 would make more sense... creates less confusion for the business folks. After just reading Delta's thread "They walk among us" it could be a real nightmare for shop owners if it came out at any other low rate... but a 1 to 1 rate would make the transition much easier. That.. and lots of folks would cash out 100% at $1.00, and then if it went up as Shabbs has said.. to the highest in the M.E.... they would save a boat load when it came to cashing in. So in my opinion... if you can afford to save some of your dinar, and the roller coaster doesn't bother you too much ... you just might see an ever higher rate of return in 3 to 6 months or so, if indeed that is the route they go (but then... nobody knows just yet). I don't think they will wait much longer than that... if for no other reason than them wanting their status and position of top dog back asap.... imo. Either way... git-r-dun boyz... just git-r-dun!!!

Come On RV Baby!!!

I like your thinking!

If people knew that it was going to go up like this slowly, wouldn't there be a run on the money and the CBI lose even more money because people would know it was going to appreciate. IMHO they would lose more money because EVERYONE would then know what was happening. Right now it is still a skeptical investment in many people's eyes. It would be like a sure bet to most investors. Once again, open to other opinions if I am totally off base. Just makes sense that it would probably cost them a lot more in the long run if they truly did it over a period of time.

Great point. This is exactly why I stopped doing ten cent math. I believe the rate will be higher and they will take most of their medicine initially. They already know how many Dinars they are on the hook for. I'm thinking they come out at slightly above a dollar and let it rise over time. To me that seems like the simplest way to do it.

Thanks for the post Carrello.

[jcav]

The parliamentary economic: It was agreed with international companies for the printing of the currency after you delete the zeros

On: Sun 03/25/2012 7:54

Baghdad: Said the parliamentary decision of the Economic Committee in the Iraqi parliament, on Saturday, Iraq's new currency that will include the Kurdish language alongside Arabic and English, as well as photographs of the archaeological features of the Kurdistan region.

He said Mahma Khalil told the Kurdish news agency (Rn), on Saturday that "the restructuring of the Iraqi currency and delete zeros of the three of them would give them economic advantages task," adding that "it was agreed with four foreign companies a giant to reprint the new currency after deleting three zeros from the beginning of next year."

He noted that "the new currency will be paper and metal, paper groups include 200 dinars 0.100 dinars, 50, 10 dinars, five dinars" .. "I will include metal either categories 2 dinars, one dinar, half dinar, 250 fils a quarter of a dinar."

According to Khalil, it "would be difficult to counterfeit or falsify the new currency, to be printed because it enabled a very sensitive" .. Noting that "paper money will be resistant and fortified against damage quick."

He noted that "the new currency will be charged three languages, Arabic and Kurdish as well as English as a universal language," noting that "the currency will include photographs of sites and cultural relics from around the country, including tourist and archaeological features of the Kurdistan region."

http://translate.goo...ew%26id%3D62716

[welcome007]

but why would they come out and tell us this???????

[rightsonword]

but why would they come out and tell us this???????

I'm guessing it's RVing sometime through April first while all the Iraqi banks are closed so that no more IQD can be bought or sold, so it doesn't matter if they let the cat out of the bag. Or, it's a mistranslation. It can't be a LOP article in my opinion if it says that the printing will start after they "delete the zeros."