Will the RV happen 01/01/13?

[FXStockpiling]

If no, then what date do you think? Oh, and Dec 2nd is out :lol:/>

[chara55]

I'm not sure BY 1/01/13 but I think IF it is going to RV at all anytime soon it will be before 1/31/13...JMO

God Bless

Gooo Rvvvvvv

[flyguy2323]

If no, then what date do you think? Oh, and Dec 2nd is out :lol:/>/>

I think maybe more closer to the end of January. That is if O really is looking to help out the US and not turn us into a socialist society. If he is then all bets are off.

[easyrider]

in january sometime before the IMF cuts Iraq off of loans in february

[kjwayne]

in january sometime before the IMF cuts Iraq off of loans in february

I agree. RV sometime before Feb. 23 2013! Hopefully December 23 ,2012!

[powerpager]

YES !!!

[securityguy]

No....Based on my previous "Luck in Life" Murphy will find a way. Hay, were having fun here, right!

[keepmwlknfny]

Not the RV that we want thats for sure......the only type of RV thats been talked about being implemented the first of the year is the RD of the notes we hold......but since there still has been no issuance of a new currency code i think we are safe for the time being.....

If we see a new ISO code early next year they will probly end up lopping in July.....here is to hoping none of the above happens!!!

[FXStockpiling]

In retrospect the 1st is a holiday so it might not reflect in the markets until the 2nd. I guess we will have to go out and enjoy bringing in the new year and then the bringing in the RV party. But now I am concerned about not knowing when to stop celebrating. We will need to set limits for everyone to stop partying so we can avoid the RV celebration cliff. :lmao:/>

[doctor robbins]

Many don't want to hear it but keepmwlknfny is right. If the dinar is revalued at the start of 2013 it will be no more than a few %. In fact that kind of revaluation can occur whenever the CBI deems it appropriate just like the one last year when they went from 1170 to 1166. If they choose the date 1-1-13 that would almost certainly be a re-denomination because that's when countries tend to conduct currency reform in that way.

[TomRiddle]

Not the RV that we want thats for sure......the only type of RV thats been talked about being implemented the first of the year is the RD of the notes we hold......but since there still has been no issuance of a new currency code i think we are safe for the time being.....

If we see a new ISO code early next year they will probly end up lopping in July.....here is to hoping none of the above happens!!!

Many don't want to hear it but keepmwlknfny is right. If the dinar is revalued at the start of 2013 it will be no more than a few %. In fact that kind of revaluation can occur whenever the CBI deems it appropriate just like the one last year when they went from 1170 to 1166. If they choose the date 1-1-13 that would almost certainly be a re-denomination because that's when countries tend to conduct currency reform in that way.

+1

[Mammaw]

FX, that night job has you kicking. LOL. Glad to see you up and about. IMO it will be setup to start up no later than the 1st. And we know how they like Holidays. It would be a great time for it to happen, because we couldn't run to the bank.

But regardless, I will take it a day earlier or a day later...just bring it on.

Are you thinking it will happen pretty close to the 1st? And if so, what is your reasoning?

[snooz]

I voted no.....But I do have confidence it will happen before April 2013.....Not that I am negative on a date but I try to fallow the speed Iraq is going lately....Not much as been done since a couples of years exept for fight over power, but hey, Iraq is Iraq !!!

Thank you for the post and vote game !!

[Mrgrizz44]

I voted no because, I cant win the lotto, I always loose in Vegas, and I cant seem to hit my ass with both hands. So by voting no it will most likley happen! :Dsrc="http://dinarvets.com/forums/public/style_emoticons/default/biggrin.gif">

[Blu Collar Guru]

IMO: Between now and the first quarter of 2013. If the re denominated bills are truly to be introduced within this time frame I also believe that's when the re value will come as well. Only time will tell. Go RD/RV .

[billjr]

1/3/13

[easyrider]

some countries are going to RD at the beginning of january 1st 2013 why wouldnt Iraq just do the same? if they indeed wanted to go that route but those other countries came out with a new ISO currency code in august this tells me Iraq has no intention to RD anytime soon if they are gonna do it they will most likely by 2014 but then what will happen to their currency and economy beforehand without raising the value so we shall see but i dont see an RD in Iraq's future in 2013 in my opinion.

Edited December 4, 2012 by easyrider

[NoviceInvestor]

I would like to see an RV by the end of January 2013, but I have my doubts ..there seems so much confusion out there and so much to be done..the news articles create in my mind so many mixed signals that I cannot see anything but the contiuance of the long wait..I wish it were no so ..but its a real world we live in here and Iraq seems to have such a long way to go in terms of prospect and growth motivation...JMO

[Osmosis]

No, because Iraq is Iraq..........and they seem perfectly happy with the status quo! Do they really need to RV the dinar? My biggest fear is that we will all be here this time next year asking the same questions.

I'm ready for it to happen, you are ready...........but Iraq?

[NoviceInvestor]

I would be happy with a 10 cent RV ...I could stop work on that value

[whatsthis]

some countries are going to RD at the beginning of january 1st 2013 why wouldnt Iraq just do the same? if they indeed wanted to go that route but those other countries came out with a new ISO currency code in august this tells me Iraq has no intention to RD anytime soon if they are gonna do it they will most likely by 2014 but then what will happen to their currency and economy beforehand without raising the value so we shall see but i dont see an RD in Iraq's future in 2013 in my opinion.

you asked a question as to why I have an answer for you , BECAUSE IT'S IRAQ!

[sandyf]

in january sometime before the IMF cuts Iraq off of loans in february :)/>

The ball is in Iraq's court rather than the IMF. They have taken about 40% of the SBA but cannot get any more unless the 3rd and 4th reviews are carried out. Depends on interpretation, but the original MOU from Feb 2010 would indicate that currency reform is a requirement of the 4th review. The reviews take about a month so should any reform take place on Jan 1st, there would be time to complete the reviews before the SBA expires.

I do not think the SBA can be extended again. I think that the way the last extension was granted excludes a further extension.

[ALBUNDY]

NoviceInvestor : " I would be happy with a 10 cent RV " , for me, I will be more than happy with .10 cents ( we can only hope so ) even it isn't enough for me to retire and I will cash in all and never look back.. And I can't predict the date, but the sooner is the better.

[ALBUNDY]

Keepmwlknfny : what do you think about this article and the comments, specially the last comment keep? This is the latest date I can find keep. Anyone can also give opinions too. How many people are still interested to buy this currency? Come on don't be shy raise your hand.

House on Board With Govt Plan To Redenominate the Rupiah

December 01, 2012

A rupiah redenomination bill is currently being sought by the Indonesian government and it is asking the House of Representatives to start the legislation process for the bill next year.

The redenomination is an attempt to simplify currency transactions by replacing the currency with a new one. In the past, officials have mooted the idea of removing three zeros from the rupiah. For example, a Rp 1,000 note would become simply Rp 1.

Finance Minister Agus Martowardojo conveyed the plan to House Deputy Speaker Anis Matta on Friday, according to Ignatius Mulyono, chairman of the House’s legislation committee.

“The House accepted the government’s plans,” Ignatius said. “We are now awaiting the draft to be submitted to the House.”

Ignatius said that the House would discuss whether the redenomination bill could be included in the 2013 national legislation program — a list of bills that the House targets to ratify during a year.

An academic study of the bill, Ignatius said, has been completed. “With the redenomination, transactions would be simpler and faster,” he said.

Bank Indonesia has introduced higher-denomination bills five times since 1964 because of inflation. That makes current daily transactions often run into the millions of rupiah.

The Rp 100,000 ($10.43) note is now the second-highest denomination banknote in the region after Vietnam’s 500,000 dong note.

There are concerns, however, that the proposal could devalue the currency. But Ignatius said that the House would ensure that the government would conduct intensive socialization programs for the public should the bill be passed.

Agus said that the government and Bank Indonesia had coordinated closely to transform the redenomination idea into a workable plan.

He also added that any redenomination process would take anywhere from five to 10 years to complete.

One of the likely consequences of a redenomination is marked prevalence in the use of coins because they are worth smaller denominations.

Comments:

559152 hansardwidrick, 10:49am Dec 3, 2012, Will there be cents then?

Jwong, 8:38am Dec 3, 2012, @maspanji... do u even understand the difference between redenomination and devaluation????? it has nothing to do with DEVALUATION!!!!

Kesiangan, 6:04pm Dec 2, 2012, @dizzy Please explain your maths.

maspanji, 1:32pm Dec 2, 2012, Oh boy, it was happened under Soekarno then Soeharto and now Sir SBY and that means Rupiah was devalued how many times ? right on dizzy !.

dizzy, 10:34pm Dec 1, 2012, Accounting classes during high school was nightmare enough for me then..... During suharto time. Now I can't imagine what the new generation must have been going through. Make sure you don't miss that additional zero, son, or you sure as hell won't balance that sheet!

ronyboy, 4:50pm Dec 1, 2012, ges we wont be millionaires for long...

THE LINK : http://www.thejakart...e-rupiah/559152

[hbrill61]

Keepmwlknfny : what do you think about this article and the comments, specially the last comment keep? This is the latest date I can find keep. Anyone can also give opinions too. How many people are still interested to buy this currency? Come on don't be shy raise your hand.

House on Board With Govt Plan To Redenominate the Rupiah

December 01, 2012

A rupiah redenomination bill is currently being sought by the Indonesian government and it is asking the House of Representatives to start the legislation process for the bill next year.

The redenomination is an attempt to simplify currency transactions by replacing the currency with a new one. In the past, officials have mooted the idea of removing three zeros from the rupiah. For example, a Rp 1,000 note would become simply Rp 1.

Finance Minister Agus Martowardojo conveyed the plan to House Deputy Speaker Anis Matta on Friday, according to Ignatius Mulyono, chairman of the House’s legislation committee.

“The House accepted the government’s plans,” Ignatius said. “We are now awaiting the draft to be submitted to the House.”

Ignatius said that the House would discuss whether the redenomination bill could be included in the 2013 national legislation program — a list of bills that the House targets to ratify during a year.

An academic study of the bill, Ignatius said, has been completed. “With the redenomination, transactions would be simpler and faster,” he said.

Bank Indonesia has introduced higher-denomination bills five times since 1964 because of inflation. That makes current daily transactions often run into the millions of rupiah.

The Rp 100,000 ($10.43) note is now the second-highest denomination banknote in the region after Vietnam’s 500,000 dong note.

There are concerns, however, that the proposal could devalue the currency. But Ignatius said that the House would ensure that the government would conduct intensive socialization programs for the public should the bill be passed.

Agus said that the government and Bank Indonesia had coordinated closely to transform the redenomination idea into a workable plan.

He also added that any redenomination process would take anywhere from five to 10 years to complete.

One of the likely consequences of a redenomination is marked prevalence in the use of coins because they are worth smaller denominations.

Comments:

559152 hansardwidrick, 10:49am Dec 3, 2012, Will there be cents then?

Jwong, 8:38am Dec 3, 2012, @maspanji... do u even understand the difference between redenomination and devaluation????? it has nothing to do with DEVALUATION!!!!

Kesiangan, 6:04pm Dec 2, 2012, @dizzy Please explain your maths.

maspanji, 1:32pm Dec 2, 2012, Oh boy, it was happened under Soekarno then Soeharto and now Sir SBY and that means Rupiah was devalued how many times ? right on dizzy !.

dizzy, 10:34pm Dec 1, 2012, Accounting classes during high school was nightmare enough for me then..... During suharto time. Now I can't imagine what the new generation must have been going through. Make sure you don't miss that additional zero, son, or you sure as hell won't balance that sheet!

ronyboy, 4:50pm Dec 1, 2012, ges we wont be millionaires for long...

THE LINK : http://www.thejakart...e-rupiah/559152

I have enough funny money.