Dinar News Making Dinar change for goods bought

[gr8cooker142]

I thought they already had the smaller 100 and 50s in circulation. It is the truck loads ect, bringing in the small bills. 1, 5, 10, ect. These will be released soon according to reports.

Yea but I am talking about the change part like our .01, .05, .10, .25, .50 that we have.

[beau777]

I am sure they will make change the same way they do now.

[gr8cooker142]

I am sure they will make change the same way they do now.

Yea but the dinars are worth nothing now and if it RV's then the smallest dinar is the 25 dinar coin right? So, how then would they make change? Am I missing the point? Either they need smaller Dinars or you tell me??

[luckylucy]

Maybe someone on the ground there can tell us ... but my guess is that items are priced so that they don't have the need. I don't think they have sales tax ... though they will soon.

Interesting question .. than's for posting it!

luckylucy

Yea but I am talking about the change part like our .01, .05, .10, .25, .50 that we have.

[racbluto]

I have heard that they are making coins called "fils" which are fractions of a dinar. And why would you need them if the dinar was not going to RV.... ~~~~Bluto

[DidweRVyet]

Teresa are you sleeping

[dannyc]

awww nice puppy :0)

[gr8cooker142]

Maybe someone on the ground there can tell us ... but my guess is that items are priced so that they don't have the need. I don't think they have sales tax ... though they will soon.

Interesting question .. than's for posting it!

luckylucy

What about the goods that cost under 1 dollar U.S. ?

[Riley]

gr8cooker142 - it's not like that over here - not yet anyway......if you ask how much something costs - EXAMPLE: they will not charge you like $1.42 USD - it will be $1.00 or $2.00.....at least that's the experience at the little Iraqi store where I am....... or 1,000 dinar......I am waiting to see the new money as well - I have yet to see the coins.

[rich daniels]

at current rates 50 denar is equal to about a nickle. some say we should do away with pennies here in the us. so i dont see it as siginifigent that the smallest note is 50 denar. also the iraq people do not seem to like the coins, they were issued and retracted in the past. on the other hand anything they do with the denominations is note worthy

[gr8cooker142]

gr8cooker142 - it's not like that over here - not yet anyway......if you ask how much something costs - EXAMPLE: they will not charge you like $1.42 USD - it will be $1.00 or $2.00.....at least that's the experience at the little Iraqi store where I am....... or 1,000 dinar......I am waiting to see the new money as well - I have yet to see the coins.

I guess what I am asking is lets say that the dinar RV's at .10 at the less then 50 dinars are worth 5.00 usd what are they going to use for products that cost 1.00 or less?

[racbluto]

In the past hey had coins called fils. At that time 1000 fils = 1 dinar maybe they will bring them back or make new ones. ~~~~Bluto

[Teresa82]

gr8cooker142 - it's not like that over here - not yet anyway......if you ask how much something costs - EXAMPLE: they will not charge you like $1.42 USD - it will be $1.00 or $2.00.....at least that's the experience at the little Iraqi store where I am....... or 1,000 dinar......I am waiting to see the new money as well - I have yet to see the coins.

OH now that is interesting Riley, I never thought of not having to have change. But my husband did say he thought it had already been minted....He heard. That may not be true though just so you know! Let us know if you see ANY OK ?

MICK- no I wasn't sleeping, I was just playing with her....................do I look like a dried up prune? I'm starting to get a complex now!

[gr8cooker142]

I guess what I am asking is lets say that the dinar RV's at .10 at the less then 50 dinars are worth 5.00 usd what are they going to use for products that cost 1.00 or less?

But don't they have stuff that like penny candy or stuff under 1.00 USD ?

[gr8cooker142]

gr8cooker142 - it's not like that over here - not yet anyway......if you ask how much something costs - EXAMPLE: they will not charge you like $1.42 USD - it will be $1.00 or $2.00.....at least that's the experience at the little Iraqi store where I am....... or 1,000 dinar......I am waiting to see the new money as well - I have yet to see the coins.

But don't they have stuff that like penny candy or stuff under 1.00 USD ?

[SuperFlyJr]

But don't they have stuff that like penny candy or stuff under 1.00 USD ?

They can just begin minting/printing smaller denominations. They can create their own versions of fractions of a dinar like we have quarters, dimes, nickels and pennies that act as fractions of a dollar. If the RV is exceptionally large, I wouldn't be surprised to see them begin to phase out the old currency and release new versions where they have bills for smaller values (1, 5, 10 dinar) and coins for fractions.

[gr8cooker142]

They still need to have in place the smaller denominations in place prior to the RV other wise there will be tons of problems, anymore thoughts?

[chuksan]

For all of you who are interested. The Finance Minister of Iraq has made a statement that the IQD is going to be revalued and they will issue bills in the 25,10,5,1, 1/2 and smaller denoms. This can be found on another site I can't menntion names but DD is a good bet. Check for info on exchange rate and exchanging money.

[gunfighter]

i believe they already have small denominations printed up. i'm trying to remember when and where i saw them. if i find the document showing all of the currency that was printed i'll bring it for everyone to see.

[CavDude]

I suspect that the coins are already "in place" and will be backed up by the Smart Cards. It just makes sense.......but wait, this is Iraq, yes ?