CBI announces the in country rate.

[Luigi1]

From a AngelQuest link...

 

CBI announces the in country rate $4 USD=1 IQD.

Int'l rate should be very close to that figure.

[mike5103]

Sounds good Luigi1.Fingers and toes crossed....

[sxsess]

Thanks Luigi! I hope this is real.

[Luigi1]

Sounds good Luigi1.Fingers and toes crossed....

 

 

 

USA rate probably closer to 3.50 after the Fed Res sets the bank spread before taxes.

[Zebra0101]

what's an "AngelQuest" another guru??

[jordan1]

From a AngelQuest link...

 

CBI announces the in country rate $4 USD=1 IQD.

Int'l rate should be very close to that figure.

PROOF PROOF PROOF OH THE ELUSIVE PROOF<<<  PROOF=TRUTH

[Luigi1]

Thanks Luigi! I hope this is real.

 

 

Odds are the in country rate will be released allowing Iraqis to get first crack at the exchange. We may have to wait another few days or a week for our chance.

[SnowGlobe7]

i read the link...says 4 to 1

 

if true prob more like .25 cents. 

[Luigi1]

what's an "AngelQuest" another guru??

 

 

If her link is right...she will not only be top Guru but a real angel.

[mrmcwhipit]

wow sure would be nice if true ,

we shall see .

[coolbeans]

 

The article says nothing of the sorts. 

 

She is talking about the removal of 4 billion notes in circulation to 1 billion.

 

That is where she is getting 4 to 1

 

At todays rate with her logic (term used loosely) that would be .0008 X 4 = .0032

 

Which equates to $3,200 USD per one mIllIon IQD

Edited April 13, 2013 by Markinsa
Language

[Luigi1]

i read the link...says 4 to 1

 

if true prob more like .25 cents. 

 

 

You may be right. The link is not all that clear. This is still better than Adam's prediction of .10 cents. Horray for Adam if true. He was not far off the prediction.

[magawatt]

Is this derived from this?

http://www.alsabaah.iq/ArticleShow.aspx?ID=44644

[sxsess]

If Adam says something I will believe it.

[mrparrot]

In country?

 

Ok, the way I understand it,

there's one rate, in AND out

of country.

 

The only thing I can see happening

is that the citizens of Iraq, inside the

country, will have first shot at exchanging

their bills.

 

There won't be two different rates.

 

What you'll have is the rate for citizens in Iraq,

and the diluted / watered down due to spreads

rate for the rest of the world.

 

And once the rate is announced,

it's going to be everywhere, at the

same time.

 

If I'm wrong, please, correct me...

[stealthwarrior]

We wait for Adams word.

[yusofsabri]

I read the topic and I clicked it. It was so fantastic. Then I quickly went down to the bottom of the thread. It was just a rumors. Dangggg!!!!!!!

[sxsess]

I maxed my cell phone volume out, just in case Adam sends good news!! Ha

[C.H.]

I am drinking with Okie.

[BETTYBOOP]

O.M.G.!!!! PLEASE LET THIS BE TRUE !!! THANKS LUIGI + 100000000 IF I COULD. RUMOR OR NOT....I LIKE IT.. .

[zigmeister]

I believe the same article is on Bondlady as well.  However what it truly means is above my head as Iraq tends to speak in tongues.

[RVWITHME]

Actually, the story is more like this:

 

Parliamentary Finance: Central Bank starts this year … 13/04/2013 2:18 pm

said parliamentary Finance Committee, the central bank, according to correspondences official start of this year procedures deleting three zeros from the local currency, saying that it would lead to the development of cash transactions and economic international.

A member of the Finance Committee Abdul Hussein al-Yasiri Center Brief for the Iraqi Media Network (IMN) It “According Almkhtabat official with the central bank, it is supposed to start this year Balastaadadt necessary to delete three zeros from the local currency.”

and noted that “the local currency will reduce from four billion units to one billion units which will make there Anciabh in the process of the transfer of currency.”

and between Yasiri that “the Finance Committee supports changes to the local currency because of the importance of the country’s economic.”

The central bank says that the deletion of zeros comes within the plan for the development of monetary policy and the reform of currency management.

and was a member of the Finance Committee parliamentary Haitham al-Jubouri, had said in an earlier statement to him that “replacement currency and delete Ocefarha will features the best and the biggest decrease of the volume of inflation and revive the dinar due to lack of demand for the dollar, which comes positive aspects significant to the economy of the country, and replaced revive economy Alibd but needs political environment and economic environment for the implementation of the project without facing any obstacles lead to the deterioration of the currency Iraqi “was the Iraqi Central Bank has pointed out last August that plans to delete the zeros from the Iraqi dinar to facilitate financial transactions made ​​through cash in most cases.

Among the difficulties faced by Iraq if they are to foot the deletion of zeros from the dinar is withdrawn about 30 trillion dinars in circulation in the Iraqi market, then discarded and replaced with a new currency

Edited April 13, 2013 by RVWITHME

[automag]

Food for thought...........Can you imagine if you turn ordinary citizens into millionaires by the millions? Not to say they can't but it seems logical they are still gonna need people to sweep up the market after the next suicide attack. If you had millions of dollars would you go down there and sweep up? Not me either. Plus I bet we wouldn't be millionaires for long because of inflation and if a coke was 20.00 and a loaf of bread was 30.00........I guess we'll be alright. Just thinking out loud.

[zigmeister]

Interesting, "Among the difficulties faced by Iraq if they are to foot the deletion of zeros from the dinar is withdrawn about 30 trillion dinars in circulation in the Iraqi market, then discarded and replaced with a new currency"

[Belecosity]

Food for thought...........Can you imagine if you turn ordinary citizens into millionaires by the millions? Not to say they can't but it seems logical they are still gonna need people to sweep up the market after the next suicide attack. If you had millions of dollars would you go down there and sweep up? Not me either. Plus I bet we wouldn't be millionaires for long because of inflation and if a coke was 20.00 and a loaf of bread was 30.00........I guess we'll be alright. Just thinking out loud.

Yup, that is why the dollar is most used and the CBI has allowed the value of the IQD to drop below its pegged rate.... So this won't happen. just my 2Cents