United States Dollar vs New Iraq Share Price - USDIQN

[dinarbeleiver]

That's not everyone

Only a couple groupies

They turn a blind eye to his rude comments

And say i don't understand why they picked him out of the crowd

What comes around goes around

Pay back is a *****

I have to say I COMPLETLY AGREE WITH YOU you ROCK dontlop !!!!!!

[keepmwlknfny]

IMF 

The GC established its economic ministries in early September 2003. A number 

of important policy reforms then began to be implemented to facilitate progress toward a more market-oriented economy. These reforms included the completion of a national currency exchange (Box 1), the approval of new central bank and commercial bank laws, the liberalization of interest rates, approval of a foreign direct investment law, the establishment of the Trade Bank of Iraq, the passage of the Financial Management Law and a new tax law, and the simplification of the trade regime. More recently, on July 18, 2004, the ministry of finance completed its first treasury bill auction. Auctions have since been conducted on a bi-weekly basis.

 

Box 1. Currency Exchange Iraq 

 

During the previous regime, the (old) Iraqi dinar was the legal tender in the country and comprised two types of co-circulating banknotes: the “Swiss” dinar, issued between 1979 and 1989, and circulated only in the northern Kurdish provinces after 1989, and the “Saddam” dinar, issued by the Central bank of Iraq (CBI) from 1990 onwards (with effective available denominations in recent years of only ID 250 and ID 10,000 banknotes). The printing of the Saddam dinar was not fully controlled by the CBI, and the result was soaring inflation. 

 

As a result of this chaotic situation, the Iraqi government, with assistance from the Coalition Provisional Authority (CPA), USAID, and the U.S. Department of Treasury, conducted a three-month program (between October 15, 2003 and January 15, 2004) to exchange all denominations and types of existing Iraqi banknotes into new ones with better quality and security features. The operation involved shipping 

and distributing about ID 6.1 trillion of new dinars into Iraq, while also destroying the old currency. 

 

The old currency which featured Saddam Hussein was replaced with a new design based on the features of the Iraqi nation and its history. While the Saddam dinar was printed on cheap paper and easily counterfeited, the new currency is much more secure as it has features built in that make it very difficult to 

counterfeit. The new dinar has six denominations of banknote (instead of two), and has improved the efficiency of transactions significantly. 

 

The conversion to a new currency was a significant accomplishment in a very difficult security environment, and has facilitated the revival of commercial activity in the country. 

 

http://www.imf.org/external/pubs/ft/scr/2004/cr04325.pdf

There it is, 6.1 trillion dinars.  I know thats been the big question in the past.

Yes, initially there were that many dinars printed. A lot more since then unfortunately!

http://dinarvets.com/forums/index.php?/topic/74970-the-future-of-iraq-project-pdf-and-its-implications-for-the-iqd-rv/

I think this is what keep was looking for.

I take that back I don't think that is what he wanted but I did find this, pdf file.

http://www2.gwu.edu/~nsarchiv/NSAEBB/NSAEBB198/FOI%20Oil.pdf

Oh I also found an interesting article on Iraq and their dinar.  You go on Council Foreign Relations and hit full article.  I haven't read it fully but had it on my computer and just don't know how to get it from there to here.

http://www.cfr.org/world/should-iraq-dollarize-adopt-currency-board-let-its-currency-float/p5994

I forgot how much does CBI claim of dinar is out of CBI today?

I think its getting close to 35 trillion......let me check....

[dontlop]

We should have some answers soon their dinars are in bad shape

They say they are getting some new small denominations to replace the bad ones but they been saying that for well over a year

I'm looking for a new note design with Kurdish language included on it

Shabibbi says it will be minimal like maybe just the numerical portion of the bill the denomination in Kurdish language as well as Arabic and possibly english too

[jg1]

IMF 

The GC established its economic ministries in early September 2003. A number 

of important policy reforms then began to be implemented to facilitate progress toward a more market-oriented economy. These reforms included the completion of a national currency exchange (Box 1), the approval of new central bank and commercial bank laws, the liberalization of interest rates, approval of a foreign direct investment law, the establishment of the Trade Bank of Iraq, the passage of the Financial Management Law and a new tax law, and the simplification of the trade regime. More recently, on July 18, 2004, the ministry of finance completed its first treasury bill auction. Auctions have since been conducted on a bi-weekly basis.

 

Box 1. Currency Exchange Iraq 

 

During the previous regime, the (old) Iraqi dinar was the legal tender in the country and comprised two types of co-circulating banknotes: the “Swiss” dinar, issued between 1979 and 1989, and circulated only in the northern Kurdish provinces after 1989, and the “Saddam” dinar, issued by the Central bank of Iraq (CBI) from 1990 onwards (with effective available denominations in recent years of only ID 250 and ID 10,000 banknotes). The printing of the Saddam dinar was not fully controlled by the CBI, and the result was soaring inflation. 

 

As a result of this chaotic situation, the Iraqi government, with assistance from the Coalition Provisional Authority (CPA), USAID, and the U.S. Department of Treasury, conducted a three-month program (between October 15, 2003 and January 15, 2004) to exchange all denominations and types of existing Iraqi banknotes into new ones with better quality and security features. The operation involved shipping 

and distributing about ID 6.1 trillion of new dinars into Iraq, while also destroying the old currency. 

 

The old currency which featured Saddam Hussein was replaced with a new design based on the features of the Iraqi nation and its history. While the Saddam dinar was printed on cheap paper and easily counterfeited, the new currency is much more secure as it has features built in that make it very difficult to 

counterfeit. The new dinar has six denominations of banknote (instead of two), and has improved the efficiency of transactions significantly. 

 

The conversion to a new currency was a significant accomplishment in a very difficult security environment, and has facilitated the revival of commercial activity in the country. 

 

http://www.imf.org/external/pubs/ft/scr/2004/cr04325.pdf

There it is, 6.1 trillion dinars.  I know thats been the big question in the past.

 

5. Currency issued is defined as currency holdings by the public plus cash in the vaults of 

commercial banks. As of June 30, 2004, currency in circulation amounted to ID 7,003 billion

Yes, initially there were that many dinars printed. A lot more since then unfortunately!

I think its getting close to 35 trillion......let me check....

Hey keep, could you help direct me to where it says they printed more dinars, thanks. 

[keepmwlknfny]

Not letting me open the file for some reason.....but im sure someone else can get it open...

http://www.cbi.iq/index.php?pid=Statistics

 

 

scroll down to key financial indicators and open that...

Jg1....

 

look above for link!

They just redenominated in 2003

The IQD was the IQD since the old Swiss dinar notes

If they didn't need to change the code to redenominate in 2003 why would they now

Because they didnt redenominate by removing zeros like they are saying now.....

 

Again, I dont consider the 2003-04 exchange a redenomination. 

[jg1]

Here it is. 

 

Documentation of the Key financial Indicators April 26, 2006 (Note: All balances are exclusive of data from Northern Region.) 

 

1. Exchange Rate The weekly and monthly average for the Iraqi Dinar exchange rates 

against the U.S. Dollar in the daily CBI auctions. Rate is reported from Foreign Exchange 

Department. 

 

2. Inflation Rate Consumer Price Index (CPI) (1993=100). Issued by the Central Office of 

Statistics and Information Technology (COSIT). Since August 2004 the index has measured rent 

monthly (it was previously measured only every six months). In September 2004, 2003 and first 

three quarters of 2005 were revised to extrapolate rent for earlier months. 

 

3. Interest Rates 

a. MOF Reported by Ministry of Finance. 

T-Bill Rates: Monthly averages of primary auction interest rates of 91 day 

government bills since July 2004. 

T-Bill amounts sold, redeemed and outstanding: Sales, purchases and redemptions 

are to or from entities outside the CBI by the MOF or the CBI. Stock outstanding is the 

value held outside the CBI at the end of the period. Amounts shown are aggregates of 28, 

63, 91 day term bill. 

b. CBI Reported by Agreements & Loans Department. Interest rates set by the CBI for 

use of its Standing Facilities established August 2004 (see http://www.cbiraq.org/cbs3a.htm). 

b.i Discount rate for bills sole by the CBI bearing a maturity of one year. 

c. Commercial Banks Reported by commercial bank to the Credit Research Division of 

Statistics and Research Department. Rates are for end of period at annual rates. 

 

 4. Monetary Base Reported by the Accounts Department in the Analytical balance sheet. 

Items referenced are item numbers in the Analytical balance sheet. 

 Sources 

 a – Net Foreign Assets of the CBI (NFA): Gross Foreign Assets less Foreign 

Liabilities 

Gross Foreign Assets of the CBI: Gold and SDRs (items 1.1 and 1.23); 

Investments (item 1.22); and Cash in CBI vaults (item 1.21) 

Foreign Liabilities of the CBI: Foreign sector foreign currency current account 

(item 7.1) 

b - Net Domestic Assets for the CBI (NDA): Derived from the Analytical 

Balance sheet reported by the Accounts Department. NDA is defined here as the 

Monetary Base less Net Foreign Assets of the CBI. 

Net claims on central government (items 2.1 to 2.5): these claims are carried over 

from before February 2003; From April 2006, these claims are consolidated into a single 

claim with accrued interest added. The rescheduled claim will be paid off in quarterly 

installments beginning the end of March 2007. Domestic currency deposits of the MOF 

(item 9.1); and Foreign exchange deposits of MOF (item 9.4). 

Net claims on commercial banks: Credit (item3.2) Less Deposits (excluding 

overnight ID) (items 10.4 and 10.5) 

 

  

 

2

2

Uses 

Monetary Base is the sum of domestic currency outside of bank and bank reserves 

(a +  

 a - Currency outside banks, i.e., the currency component of the money supply as 

shown in the Analytical Balance sheet (Item 8) which is derived from the following sources 

(currency put into circulation reported by Issuing Dept. less vault cash(item 8.1 of Analytical 

Balance Sheet) reported by Research & Statistics Dept.). From December 2003, currency in 

circulation is the new currency issued by the CBI less redemption of old and damaged new 

currency notes. Prior to October 2003, currency in circulation is all Iraqi Dinar (other than the 25 

swiss Dinar notes) issued by the CBI (both Swiss and Saddam Dinar at face value) less 

redemption of old and damaged notes and issued currency in vaults of CBI. 

b - Bank reserves: 

ID current account (item 10.1) 

Overnight ID deposits (item 10.3) 

ID vault cash (item 8.1) 

 

5. Money Supply (M2) 

 Monthly: Reported by Research & Statistics Department (as at the end of the month, 

in billions of Dinar) from the monthly regulatory reports of all commercial banks. 

 Currency in Circulation outside of banks (see 4.a above) 

 Deposits in Commercial Banks, excluding central government deposits, interbank 

accounts, and accounts of a current nature. 

 Weekly: Reported by Research and Statistics Department as at the end of every 

Thursday. 

 Currency in Circulation outside of banks is currency put into circulation as 

reported weekly by Issuing Dept. less dinar cash in vaults of banks as reported by banks in the 

“Monthly Reserve Calculation Period Report of Deposits and Vault Cash” . 

 

 Deposits in Commercial Banks, excluding central government deposits, interbank 

accounts, and accounts of a current nature as reported by banks in the “Monthly Reserve 

Calculation Period Report of Deposits and Vault Cash”. 

6. Foreign currency deposits – Reported by Agreement & Loans Dept. The monthly 

average of foreign currency deposits reported by banks in the “Monthly Reserve Calculation 

Period Report of Deposits and Vault Cash”. As of May 2005, this value includes foreign 

currency deposits of central government held by banks. 

 

7. Reserve Requirement : Reported by Agreement & Loans Dept on the basis of the 

“Monthly Reserve Calculation Period Report of Deposits and Vault Cash”. 

a. Required Reserves are 25% of all deposits (Dinar and foreign currency) of the public 

plus of the government (as of May 2005) less cash items in the process of collection. These 

deposits are the average of the end Thursday balances in the preceding month (the four or five 

Thursdays ending on the second Thursday before the end of the preceding month). From [July], 

2006 the reserve assets that may be held to satisfy the requirement are: a) the Dinar vault cash of 

banks up to 20% of the total requirement, foreign currency current accounts with the CBI up 

to the 25% of the banks foreign currency deposits, and c) Dinar current account balances with 

the CBI. Prior to [July, 2006], all dinar vault cash was included in reserve assets.  

 

3

3

 b. Excess Reserves including overnight Dinar deposits are defined as: a) total Dinar 

current account balances less that amount of the total reserve requirement not satisfied with vault 

cash and foreign currency current account deposits with the CBI, plus overnight Dinar 

deposits with the CBI. ( show as the average of Thursday balances per the maintenance period ). 

 

8. Memorandum Items: 

Growth rates from previous month are the compounded annual growth rates represented by the 

change from the previous month (Power (current month / earlier month)*100) – 100. 

Growth rates from previous six months (twelve months) are the compounded annual growth rates 

represented by the changes from six (twelve) earlier; the formula is: 

(Power (current month / six months earlier, 2)-1)*100 

(Power (current month / twelve months earlier, 1)-1)*100 

[keepmwlknfny]

 

Here it is. 

 

Documentation of the Key financial Indicators April 26, 2006 (Note: All balances are exclusive of data from Northern Region.) 

 

1. Exchange Rate The weekly and monthly average for the Iraqi Dinar exchange rates 

against the U.S. Dollar in the daily CBI auctions. Rate is reported from Foreign Exchange 

Department. 

 

2. Inflation Rate Consumer Price Index (CPI) (1993=100). Issued by the Central Office of 

Statistics and Information Technology (COSIT). Since August 2004 the index has measured rent 

monthly (it was previously measured only every six months). In September 2004, 2003 and first 

three quarters of 2005 were revised to extrapolate rent for earlier months. 

 

3. Interest Rates 

a. MOF Reported by Ministry of Finance. 

T-Bill Rates: Monthly averages of primary auction interest rates of 91 day 

government bills since July 2004. 

T-Bill amounts sold, redeemed and outstanding: Sales, purchases and redemptions 

are to or from entities outside the CBI by the MOF or the CBI. Stock outstanding is the 

value held outside the CBI at the end of the period. Amounts shown are aggregates of 28, 

63, 91 day term bill. 

b. CBI Reported by Agreements & Loans Department. Interest rates set by the CBI for 

use of its Standing Facilities established August 2004 (see http://www.cbiraq.org/cbs3a.htm). 

b.i Discount rate for bills sole by the CBI bearing a maturity of one year. 

c. Commercial Banks Reported by commercial bank to the Credit Research Division of 

Statistics and Research Department. Rates are for end of period at annual rates. 

 

 4. Monetary Base Reported by the Accounts Department in the Analytical balance sheet. 

Items referenced are item numbers in the Analytical balance sheet. 

 Sources 

 a – Net Foreign Assets of the CBI (NFA): Gross Foreign Assets less Foreign 

Liabilities 

Gross Foreign Assets of the CBI: Gold and SDRs (items 1.1 and 1.23); 

Investments (item 1.22); and Cash in CBI vaults (item 1.21) 

Foreign Liabilities of the CBI: Foreign sector foreign currency current account 

(item 7.1) 

b - Net Domestic Assets for the CBI (NDA): Derived from the Analytical 

Balance sheet reported by the Accounts Department. NDA is defined here as the 

Monetary Base less Net Foreign Assets of the CBI. 

Net claims on central government (items 2.1 to 2.5): these claims are carried over 

from before February 2003; From April 2006, these claims are consolidated into a single 

claim with accrued interest added. The rescheduled claim will be paid off in quarterly 

installments beginning the end of March 2007. Domestic currency deposits of the MOF 

(item 9.1); and Foreign exchange deposits of MOF (item 9.4). 

Net claims on commercial banks: Credit (item3.2) Less Deposits (excluding 

overnight ID) (items 10.4 and 10.5) 

 

  

 

2

2

Uses 

Monetary Base is the sum of domestic currency outside of bank and bank reserves 

(a +  

 a - Currency outside banks, i.e., the currency component of the money supply as 

shown in the Analytical Balance sheet (Item 8) which is derived from the following sources 

(currency put into circulation reported by Issuing Dept. less vault cash(item 8.1 of Analytical 

Balance Sheet) reported by Research & Statistics Dept.). From December 2003, currency in 

circulation is the new currency issued by the CBI less redemption of old and damaged new 

currency notes. Prior to October 2003, currency in circulation is all Iraqi Dinar (other than the 25 

swiss Dinar notes) issued by the CBI (both Swiss and Saddam Dinar at face value) less 

redemption of old and damaged notes and issued currency in vaults of CBI. 

b - Bank reserves: 

ID current account (item 10.1) 

Overnight ID deposits (item 10.3) 

ID vault cash (item 8.1) 

 

5. Money Supply (M2) 

 Monthly: Reported by Research & Statistics Department (as at the end of the month, 

in billions of Dinar) from the monthly regulatory reports of all commercial banks. 

 Currency in Circulation outside of banks (see 4.a above) 

 Deposits in Commercial Banks, excluding central government deposits, interbank 

accounts, and accounts of a current nature. 

 Weekly: Reported by Research and Statistics Department as at the end of every 

Thursday. 

 Currency in Circulation outside of banks is currency put into circulation as 

reported weekly by Issuing Dept. less dinar cash in vaults of banks as reported by banks in the 

“Monthly Reserve Calculation Period Report of Deposits and Vault Cash” . 

 

 Deposits in Commercial Banks, excluding central government deposits, interbank 

accounts, and accounts of a current nature as reported by banks in the “Monthly Reserve 

Calculation Period Report of Deposits and Vault Cash”. 

6. Foreign currency deposits – Reported by Agreement & Loans Dept. The monthly 

average of foreign currency deposits reported by banks in the “Monthly Reserve Calculation 

Period Report of Deposits and Vault Cash”. As of May 2005, this value includes foreign 

currency deposits of central government held by banks. 

 

7. Reserve Requirement : Reported by Agreement & Loans Dept on the basis of the 

“Monthly Reserve Calculation Period Report of Deposits and Vault Cash”. 

a. Required Reserves are 25% of all deposits (Dinar and foreign currency) of the public 

plus of the government (as of May 2005) less cash items in the process of collection. These 

deposits are the average of the end Thursday balances in the preceding month (the four or five 

Thursdays ending on the second Thursday before the end of the preceding month). From [July], 

2006 the reserve assets that may be held to satisfy the requirement are: a) the Dinar vault cash of 

banks up to 20% of the total requirement, foreign currency current accounts with the CBI up 

to the 25% of the banks foreign currency deposits, and c) Dinar current account balances with 

the CBI. Prior to [July, 2006], all dinar vault cash was included in reserve assets.  

 

3

3

 b. Excess Reserves including overnight Dinar deposits are defined as: a) total Dinar 

current account balances less that amount of the total reserve requirement not satisfied with vault 

cash and foreign currency current account deposits with the CBI, plus overnight Dinar 

deposits with the CBI. ( show as the average of Thursday balances per the maintenance period ). 

 

8. Memorandum Items: 

Growth rates from previous month are the compounded annual growth rates represented by the 

change from the previous month (Power (current month / earlier month)*100) – 100. 

Growth rates from previous six months (twelve months) are the compounded annual growth rates 

represented by the changes from six (twelve) earlier; the formula is: 

(Power (current month / six months earlier, 2)-1)*100 

(Power (current month / twelve months earlier, 1)-1)*100 

 

CLick on the link below that....its  a spreadsheet to download and you can open that

It will telll you currency outside the banks, which is what is in circulation.....

 

My excel is fudging up....so i cant get it to open right now

[dinarbeleiver]

P

Ya that's right

He is superman

He stays up all night posting ridiculous half truths then with no sleep goes right to work and posts while he's tuning up cars and dealing with customers

In a dress huh

Well that explains some of his behavior here on dv And why his hat it on crooked

someone pointed me to the facts you state here. The guy is a machine a tank. Or taking some seriously strong drugs

[keepmwlknfny]

P someone pointed me to the facts you state here. The guy is a machine a tank. Or taking some seriously strong drugs

Dont hate because your not as super as me!!  = )

 

 

And just to ease your curiosity a little (not like it really matters) Im in the process of moving. So I have a lot more free time on my hands right now!  

http://www.cbi.iq/documents/Annual_2012.pdf

 

 

This might be easier to read......It only shows till end of 2011 but you get the idea of how much more currency has been printed since then.....

 

Scroll down to page 16 I think it is....

[caz1104]

Keep,

 

Finally moving to Fla? I hear there's water somewhere in Fla.....lol 

[jg1]

Dont hate because your not as super as me!!  = )

 

 

And just to ease your curiosity a little (not like it really matters) Im in the process of moving. So I have a lot more free time on my hands right now!  

http://www.cbi.iq/documents/Annual_2012.pdf

 

 

This might be easier to read......It only shows till end of 2011 but you get the idea of how much more currency has been printed since then.....

 

Scroll down to page 16 I think it is....

Keep I tried to paste it but it says the file is too large. 

[keepmwlknfny]

Keep,

 

Finally moving to Fla? I hear there's water somewhere in Fla.....lol 

Believe it or not Im actually heading back west lol!  The offer was too good to turn down!!  Florida might have to wait a while!!

Keep I tried to paste it but it says the file is too large. 

Yea I know....I tried pasting one from months ago I had downloaded. I used to be able to attach them, unless they lowered the size of attachments you can post!!

 

Were you able to open it at least?

[caz1104]

Believe it or not Im actually heading back west lol!  The offer was too good to turn down!!  Florida might have to wait a while!!

Yea I know....I tried pasting one from months ago I had downloaded. I used to be able to attach them, unless they lowered the size of attachments you can post!!

 

Were you able to open it at least?

Back to Arizona? No frickin water there!!! LOL  Good Luck

[dontlop]

Not letting me open the file for some reason.....but im sure someone else can get it open...http://www.cbi.iq/index.php?pid=Statistics  scroll down to key financial indicators and open that...Jg1.... look above for link!Because they didnt redenominate by removing zeros like they are saying now..... Again, I dont consider the 2003-04 exchange a redenomination.

Did they have 25 knotes back then or do they have 5 dinar notes now or 10s how about 1 dinar notes

Do they have 25 dinar notes. Now

Somewhere along the line there's been zeros added that's redenominating in my view

Yet the code remains the same

For 50 years

Good old saddam who changed it all with the same code

[justchecking123]

Man, learned much from this thread.

 

Thanks, "diggers."

[gregp]

keep i dont give a crap how you feel. All you do is look at the negative aspect of this investment, if that makes u feel superior then be my guest.  You say  your  not like this in real life i highly doubt that.

Keep has to be single. Lol

ok so who wants to charter a plane and fly to Iraq and exchange?

or maybe abu dabi and take a loss?

anyone game?

Heck no!!

[keepmwlknfny]

Did they have 25 knotes back then or do they have 5 dinar notes now or 10s how about 1 dinar notes

Do they have 25 dinar notes. Now

Somewhere along the line there's been zeros added that's redenominating in my view

Yet the code remains the same

For 50 years

Good old saddam who changed it all with the same code

Ill look it up for you when I get back home.....

You will be hardpressed to find anyone calling that a redenomination as in just adding a note to the aeries....

Keep has to be single. Lol

Heck no!!

Sometimes I wish lol

[zigmeister]

Okay, enough is enough with the shitty comments about Keep.  I happen to like and respect him, and we have disagreed many times.  This does not mean myself or anyone else is a Keep groupie and I refuse to be bullied as such!  I see more Keep bashing than the other way around in recent days and I will say this, it demeans not Keep but those who are insistent on continuing with their every post something personal and nasty.  Why don't we do something new here, work together and with respect.  Dontlop I respect you as well, you think out of the box  and you do your research, but honest to god you are acting like a bully on a grade school playground!  Seriously, mean spirited crap is not an attractive attribute and that includes your peanut gallery!

[dontlop]

Lol

Just watching someone picking on certain individuals and didn't like it so I give him some of his own medicine

I'm not picking on anyone else

But when people turn a blind eye on one individual and call another a bully for doing exactly what the first guy did only leads to one conclusion

Groopie. That's all I can come up with

The guy terrorizes certain Individuals posts

Don't for get to call him a bully

Lol what a joke

[dontlop]

I posted on a few topics in the past week and for days this guy years my opinions apart ,, not a word from you nada about his behavior

now its time to question his every comment and ridicule his opinions

and heres you whining im a bully

yes that is a joke

[caz1104]

Okay, enough is enough with the shitty comments about Keep.  I happen to like and respect him, and we have disagreed many times.  This does not mean myself or anyone else is a Keep groupie and I refuse to be bullied as such!  I see more Keep bashing than the other way around in recent days and I will say this, it demeans not Keep but those who are insistent on continuing with their every post something personal and nasty.  Why don't we do something new here, work together and with respect.  Dontlop I respect you as well, you think out of the box  and you do your research, but honest to god you are acting like a bully on a grade school playground!  Seriously, mean spirited crap is not an attractive attribute and that includes your peanut gallery!

Zig,

 

To be fair the give and take has been mutual between the two. For once I kind of enjoyed it(sick I know)

[zigmeister]

In all the cases I have seen for redenomination they do announce a new currency code to differentiate between the old and the new since they would both carry a different exchange rate and they keep that new ISO code

 

As far as switching currencies like what happened with our dinar (since I dont really think thats considered a RD) I do remember reading that there was a different code for a short amount of time only to differentiate between the saddam and the dinar we hold now. I will see if I can find some literature on it....anyone else feel free to dig it up as well....gotta feed the little one....

There is no way it was an RD, they did not take away zero's, they added.  That would be a big drop in value, devaluing the currency.

[dinarbeleiver]

Okay, enough is enough with the shitty comments about Keep.  I happen to like and respect him, and we have disagreed many times.  This does not mean myself or anyone else is a Keep groupie and I refuse to be bullied as such!  I see more Keep bashing than the other way around in recent days and I will say this, it demeans not Keep but those who are insistent on continuing with their every post something personal and nasty.  Why don't we do something new here, work together and with respect.  Dontlop I respect you as well, you think out of the box  and you do your research, but honest to god you are acting like a bully on a grade school playground!  Seriously, mean spirited crap is not an attractive attribute and that includes your peanut gallery!

I have watched keepem bully and be a troll for years - maybe it's childish or not big or whatever but the tables have been turned on him. I will do my best to defend dontlop and others who face ridicule from keepem. Are you aware of the games keepem plays and the constant manipulation. I guess you have been manipulated by keepem of you don't see what he does. He has been exposed as having several screen names to defend himself - you must admit that's very sinister. He may look like a good bloke with a cap on but he does not play by the rules

[dontlop]

Altering the face value of a currency without reducing its exchange rate is a redenomination, not a devaluation or revaluation.

[zigmeister]

Zig,

 

To be fair the give and take has been mutual between the two. For once I kind of enjoyed it(sick I know)

caz I love ya......but I disagree!  I find it nothing but distracting!  I am not interested in sword fights here, I am interested in outcome.  With dinar it is so veiled by guru crap, CBI crap, US crap just want to know the one true flag, currency code might not raise its head at all, and what that could mean.  Sometimes I think the lottery is more viable than the dinar.  That's bad.  I enjoy Keeps input, it keeps it real.

I have watched keepem bully and be a troll for years - maybe it's childish or not big or whatever but the tables have been turned on him. I will do my best to defend dontlop and others who face ridicule from keepem. Are you aware of the games keepem plays and the constant manipulation. I guess you have been manipulated by keepem of you don't see what he does. He has been exposed as having several screen names to defend himself - you must admit that's very sinister. He may look like a good bloke with a cap on but he does not play by the rules

I don't believe that.