Iraqi News Mehdi Alaqmguetrah warns against immediate deletions of zeros

[ReachingHigher]

Deputy Ministry Mehdi Alaqmguetrah warns against immediate deletions of zeros

April 12, 2010

[Brandon2230]

So any thoughts on if this is any indication? Good or bad...

[SexyDinar]

Who knows I am fed-up with the LOP then it's not smoke screen..............JUST RV the currency for god sake!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Then we will know what's going to happen.

[caz1158]

I agree with sexy,all this "we're not going to do this" & "we're going to do that"-My God Man Do Something!!!!

[rcjr2161]

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The Iraqi Dinar is the currency of Iraq. The currency code for Dinars is IQD, and the currency symbol is د.ع . Below, you'll find Iraqi Dinar rates, a currency converter, Iraqi Dinar News and more. You can also subscribe to our currency newsletters with daily rates and analysis, or take IQD rates on the go with our XE Mobile apps for your iPhone, BlackBerry, or even your regular phone.

The Central Bank of Iraq has announced their plans to redenominate the Iraqi Dinar to ease cash transactions. By the end of 2010, they intend to drop three zeros from the nominal value of bank notes. It should be noted that the actual value of the dinar will remain unchanged. That means that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) will both be worth the same amount in US Dollars. As stated by the Central Bank of Iraq, their mandate is to "ensure domestic price stability and foster a stable competitive market based financial system." For more information about the redenomination, read "Iraq plans to slice three zeros off currency notes."

[xdmed]

it just dont make sense for them to lop off 3 zeros it would hurt them to do that, and set them back in economic development

[Dianne]

Thank you rcjr2161 for that article, it does make me feel better!

[sophia11]

imo, it is the only thing that makes sense. Redenominate and Rv at the same time. It's not what I would like but it does make sense.

[racbluto]

A lop would devalue there currency as I understand it. So if it is almost worthless now how would making it totally worthless help there economy or the people. I think it is all a smoke screen and something much better is gonna happen soon. Or that the RV would happen pior to the phase out of the large denomination bills as they get them back.~~~~Bluto