What's 3 0s off in this site mean

[W8nomore]

I am some what new at this and I went to this site. http://www.xe.com/currency/iqd-iraqi-dinar and i don't know what it means. I know we have talked about it but the part that gets me is this. That means that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) will both be worth the same amount in US Dollars. Here it it is in full.

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."

Any help will do, Thanks

[k98nights]

Research in the forums... we've been over this lop crap too many times. There will be no lop.

[mikemd115]

I am some what new at this and I went to this site. http://www.xe.com/currency/iqd-iraqi-dinar and i don't know what it means. I know we have talked about it but the part that gets me is this. That means that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) will both be worth the same amount in US Dollars. Here it it is in full.

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."

Any help will do, Thanks

Marvin,

The bottom line is no matter what all the know it alls say,we have no idea what this means. A bread crumb on an unknown trail.

[msminnie]

I read that article a couple of days ago. Somewhere in it, or around it, it said to click somewhere for more information. In that info there was info about how at pre-redonimination 1000 idq would equal 1000 usd at post-redenomination. I am not sure how all that works myself, or exactly what it means. That's why even everyone's xe.com site, that they seem to place all their confidence in, doesn't even make me feel confident about this rv. I read and research the forums, and I have lots of education, and I still feel stupid because it doesn't make sense to me either, but if you say that l--- word around here or anywhere else, you have to stand in the corner for two hours. So don't say it. Just keep looking and if anyone finds anything that does make sense, please let me know too.

Edited May 2, 2010 by msminnie

[wilecoyote]

there will be no LOP.

[ToddS]

Research in the forums... we've been over this lop crap too many times. There will be no lop.

<--------- LOP ( see the bunny ear)