ISO Codes were given. Are we there yet?

[Belecosity]

Its this simple Luigi....we DO NOT want a new ISO code for the dinar. It means they are going to RD the current series of notes and make ours invalid after a certain period of time. Which would mean our dinar would NEVER see a higher value.

has the new dinar ever had an ISO code? If they were never able to trade IQD internationally since it's institution why would it have one?

if it is "about to be loaded" and has never been used internationally they wouldn't change it just use it for the first time right?

 

Sorry I dont know much about this.. trying to understand this.

Is the ISO just the "IQD"??

[mrref]

First, there is no such thing as a stupid question when it comes to this ride.

 

ISO codes are assigned by the IMF to any int'l currency tradable on the exchange. Without a code, the IQD remains an exotic currency. ISO code means we can go to a bank or Forex & get a better spread rate rather than going through a facilitator. ISO also sets the value of the exchange rate between currencies.

Thank you

http://www.iso.org/iso/about/about

http://www.iso.org/iso/home/standards/currency_codes.htm

 

Thanks

[keepmwlknfny]

has the new dinar ever had an ISO code? If they were never able to trade IQD internationally since it's institution why would it have one?

if it is "about to be loaded" and has never been used internationally they wouldn't change it just use it for the first time right?

 

Sorry I dont know much about this.. trying to understand this.

Is the ISO just the "IQD"??

Yes the ISO code right now.for the dinar is IQD.....we want them to keep that.....if they come out with a new one, we are in trouble and you should get rid of it asap.....i know i will.....

[moultonn]

It was from pineapple Frank, so who cares what the code is,,, he is at least one year behind his prediction like all of the gurus

[Jaygo]

I wanna know who the original genius is that brought up a knew "code" anyway? Is there an article anywhere that talks about a new "code" or is this just some made up guru crap? I don't get on here everyday so I may have missed something.  

[Markinsa]

I wanna know who the original genius is that brought up a knew "code" anyway? Is there an article anywhere that talks about a new "code" or is this just some made up guru crap? I don't get on here everyday so I may have missed something.  

 

Adam said to Eve, "The CBI is going to Revalue Dinar, but they will have to issue currency in the lower denominations to handle day to day transactions."

 

Eve said "Good for Iraq! Its about time they rasied the value of the Dinar."

 

And the Snake scurried up on his belly and said, "No! They aren't going to RV but LOP!  There is no way the CBI can afford to RV.  Where is all the money going to come from?  What they are going to do is issue a second currency with a different ISO Code so the Dinar can have two different values!"

 

So here we are...

 

-

[Jaygo]

Adam said to Eve, "The CBI is going to Revalue Dinar, but they will have to issue currency in the lower denominations to handle day to day transactions."

 

Eve said "Good for Iraq! Its about time they rasied the value of the Dinar."

 

And the Snake scurried up on his belly and said, "No! They aren't going to RV but LOP!  There is no way the CBI can afford to RV.  Where is all the money going to come from?  What they are going to do is issue a second currency with a different ISO Code so the Dinar can have two different values!"

 

So here we are...

 

-

Markinsa, 

 

Are you speaking in "code?" I don't understand!  

[zigmeister]

We do not want a new ISO code.  So Frank is either stupid or forgot to pack a lunch!

[Boozer]

You miss read There is NO new ISO codes. Iraq has not applied for a new code, and if they did it takes months to get one, Please go back and reread , If I knew how I would bring it over,

Cant put up the newshound site but its there

You miss read There is NO new ISO codes. Iraq has not applied for a new code, and if they did it takes months to get one, Please go back and reread , If I knew how I would bring it over,

[WISKY291]

Frank, is full of it.

[sandyf]

First, there is no such thing as a stupid question when it comes to this ride.

 

ISO codes are assigned by the IMF to any int'l currency tradable on the exchange. Without a code, the IQD remains an exotic currency. ISO code means we can go to a bank or Forex & get a better spread rate rather than going through a facilitator. ISO also sets the value of the exchange rate between currencies.

 

ISO codes are nothing to do with the IMF. There are ISO codes in every walk of life but the one we are interested in is for currency. There may have been new codes issued for the smart cards, who knows.

 

The last amendment from ISO in respect of Iraq was No 102 in 1999. The current ISO code is IQD 368 3

 

 

From : 0181-996-7048

To : ISO 4217 Maintenance Agency

Date : 16th April 1999 Total pages : 1

ISO 4217 AMENDMENT NUMBER 102

The following changes are made to 'Table A.1 - Currency and funds code list' of ISO 4217 -

1995.

1. Amend the following entry :-

GERMANY Deutsche Mark DEM 276 2

This changes the numeric code for GERMANY from 280 to 276 to align with ISO 3166-1 :

1998. All other information remains unchanged.

2. Amend the following entry :-

IRAQ Iraqui Dinar IQD 368 3

Delete the footnote # relating to the Iraqi Dinar.

This changes the minor unit for the Iraqi Dinar to 3.

Regards

A M WADSWORTH (MISS)

ISO 4217 Secretariat

[sandyf]

This was the amendment for Zambia, 4 months before Redenomination.

 

31 August 2012

ISO 4217 AMENDMENT NUMBER 154

1) Effective from 1 January 2013, the following change will be made to

“Table A.1 - Currency and funds code list” for ZAMBIA:

Entity

Currency

Alphabetic code

Numeric code

Minor unit

ZAMBIA

Zambian Kwacha ZMW 967 2

 

The change is due to the deletion of three zeros. The conversion rate is 1000 (old) Zambian Kwacha to 1 (new) Zambian Kwacha (1000:1).

 

2) Effective from 1 January 2013, the following change will be made to

“Table A.3 - Codes for historic denominations of currencies and funds“ for ZAMBIA:

Entity

Currency

Alphabetic code

Numeric code

Minor unit

ZAMBIA

Zambian Kwacha ZMK 894 2

3) With immediate effect, the following change is made to

“Table A.1 - Currency and funds code list” for VENEZUELA:

Entity

Currency

Alphabetic code

Numeric code

Minor unit

VENEZUELA

Bolivar

VEF

937

2

The currency name change from Bolivar Fuerte to Bolivar has been requested by the Central Bank of Venezuela.

Kind regards,

SIX Interbank Clearing Ltd ISO 4217 Maintenance Agency

[Jaygo]

This was the amendment for Zambia, 4 months before Redenomination.

31 August 2012
ISO 4217 AMENDMENT NUMBER 154
1) Effective from 1 January 2013, the following change will be made to
“Table A.1 - Currency and funds code list” for ZAMBIA:
Entity
Currency
Alphabetic code
Numeric code
Minor unit
ZAMBIA
Zambian Kwacha ZMW 967 2

The change is due to the deletion of three zeros. The conversion rate is 1000 (old) Zambian Kwacha to 1 (new) Zambian Kwacha (1000:1).

2) Effective from 1 January 2013, the following change will be made to
“Table A.3 - Codes for historic denominations of currencies and funds“ for ZAMBIA:
Entity
Currency
Alphabetic code
Numeric code
Minor unit
ZAMBIA
Zambian Kwacha ZMK 894 2
3) With immediate effect, the following change is made to
“Table A.1 - Currency and funds code list” for VENEZUELA:
Entity
Currency
Alphabetic code
Numeric code
Minor unit
VENEZUELA
Bolivar
VEF
937
2
The currency name change from Bolivar Fuerte to Bolivar has been requested by the Central Bank of Venezuela.
Kind regards,
SIX Interbank Clearing Ltd ISO 4217 Maintenance Agency

Does Iraq have this amendment and just has not been activated yet?

[Texas1]

So now we have Zombies who redenominated?

I picked a bad week to give up mushrooms

[R2d2dc]

Wow, Great informative information tonight!

Thanks Luigi1, VIZIOIRAQI, Eagle007 and Markinsa

r2

[Luigi1]

Yes the ISO code right now.for the dinar is IQD.....we want them to keep that.....if they come out with a new one, we are in trouble and you should get rid of it asap.....i know i will.....

 

 

A ISO has been given to the IQD we now hold. The new lower denoms will be designated IQN & given a different ISO code.

This is how both currencies will co-exist together for the next two years untill all 000s are removed.

[doctor robbins]

Apparently Frank doesn't understand that a new ISO code would only be issued in the event of a lop.  Be looking for him to come up with an explanation for what he meant by this miscue on his next call.

[Belecosity]

Yes the ISO code right now.for the dinar is IQD.....we want them to keep that.....if they come out with a new one, we are in trouble and you should get rid of it asap.....i know i will.....

thanks keep for the clarification.

[Darin]

Apparently Frank doesn't understand that a new ISO code would only be issued in the event of a lop.  Be looking for him to come up with an explanation for what he meant by this miscue on his next call.

The way he puts it, or so it seems, is that the dinar currently does not have an ISO and giving it an ISO is a good thing.

He must of failed to get the memo as the dinar has an ISO already, see: IQD.

A new ISO would be bad, as a new ISO would exist for a newly printed currency while the old ISO would exist for the old currency.

Therefore, two rates would be able to co-exist. And foreign banks would be able to distinguish between the old currency and new currency and provide a proper exchange based on the ISO codes.

[hame55]

We don't want them to change their ISO code.  If they are going to change it now this would indicate an RD.  A new ISO code this game is over.  I hope Frank is making up stuff.

exactly

A ISO has been given to the IQD we now hold. The new lower denoms will be designated IQN & given a different ISO code.

This is how both currencies will co-exist together for the next two years untill all 000s are removed.

You sure about this? Source?

[keepmwlknfny]

A ISO has been given to the IQD we now hold. The new lower denoms will be designated IQN & given a different ISO code.This is how both currencies will co-exist together for the next two years untill all 000s are removed.

And this scenerio.you stated is what would happen with a lop.....not a revaluation.....

[Alex38]

Meh... It's Frank... everyone relax.

[lakedreamer]

Would it help, then to have lower denominations now, or would they be treated like our 25K notes?

[SnowGlobe7]

So now we have Zombies who redenominated?

I picked a bad week to give up mushrooms

 

I did not give them up...here have some of mine...just be nice to the singing penguins

[sandyf]

The way he puts it, or so it seems, is that the dinar currently does not have an ISO and giving it an ISO is a good thing.

He must of failed to get the memo as the dinar has an ISO already, see: IQD.

A new ISO would be bad, as a new ISO would exist for a newly printed currency while the old ISO would exist for the old currency.

Therefore, two rates would be able to co-exist. And foreign banks would be able to distinguish between the old currency and new currency and provide a proper exchange based on the ISO codes.

 

The current ISO code is IQD 368 3  See post No 36.

 

In the event of an RD the IQD would no longer be the national currency and there would be no international exchange rate.The only exchange, if available, would be to the new currency at the redenomination ratio.

 

The Zambian Technical Guidelines made no arrangement for exchange outside the country.