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The LOP of 3 Zeros

Patrick88

By Patrick88,
in LOPster tank

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Jigga Newbie

Jigga

Posted
Posted

Is the plan to remove the 3 zeros of Iraq's currency still on the table?

That would be terrible for us investors.

We dont lose any money we just dont make any money.

It would be removing the zeros off the exchange rate...not the currency.....cause there is no way you can take three zeros off the 50 or the 100....if you do something to one bill you have to do it to all of them...you cant pick and choose which bills you want to LOP....its the same all across the board!

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jola Newbie

jola

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Posted

When /if they remove 3 zeros off the banknote, automatically 3 zeros are removed off the rate.

Eg: 25,000 becomes 25 dinar, and 0.0008 becomes 0.8.

Please check IMF rates for Turkey, etc and you will see the move. They removed 6 zeros off the banknotes.

E.g. Turkey

December 29, 2004 0.478417

September 08, 2003 0.000000457173

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Patrick88 Newbie

Patrick88

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It would be removing the zeros off the exchange rate...not the currency.....cause there is no way you can take three zeros off the 50 or the 100....if you do something to one bill you have to do it to all of them...you cant pick and choose which bills you want to LOP....its the same all across the board!

Its definetly off the banknote, not the exchange rate.

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quadraph0nic Newbie

quadraph0nic

Posted
Posted

I dont believe the LOP will happen

I've been out of it for a few weeks but to my knowledge no official policy or law has been created to do this and they would need to do that first - this is per CBI.

Turkey did the same thing when the lop'd. Policy/Law has to be made to do this.

The public would need to be informed by an authoritative source if the decision were to ever be made to re denominate. You would see this coming.

I read articles in the news that CBI has no intention of doing this at this time. The articles are in the news, I dont have links. just dig it out.

Secondly, inflation is real low so there is no reason for Iraq to re denominate.

Dont fall into the idea they have to have only dollars to back their currency. Its about oil and its about the rest of the central banks of the world playing ball.

LOP is not happening but that's just my opinion.

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bright Newbie

bright

Posted
Posted

I agree tbarry.......seems simple..what good is a lop gonna do for the iraqi people......can't people see the rate .000865....make sense remove 3 zeroes and we are at .86!!!!! That is my hope at the very least and I sticking with it!!!

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Bruce Newbie

Bruce

Posted
Posted

Everyone here is in denial.

XE.com The World's Favorite Currency Site

XE header

Home - Currency Encyclopedia - IQD - Iraqi Dinar

IQD - Iraqi Dinar

More currencies

Iraq, Dinar

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."

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  • 3 years later...
sandstorm Newbie

sandstorm

Posted
Posted

I dont believe the LOP will happen

I've been out of it for a few weeks but to my knowledge no official policy or law has been created to do this and they would need to do that first - this is per CBI.

Turkey did the same thing when the lop'd. Policy/Law has to be made to do this.

The public would need to be informed by an authoritative source if the decision were to ever be made to re denominate. You would see this coming.

I read articles in the news that CBI has no intention of doing this at this time. The articles are in the news, I dont have links. just dig it out.

Secondly, inflation is real low so there is no reason for Iraq to re denominate.

Dont fall into the idea they have to have only dollars to back their currency. Its about oil and its about the rest of the central banks of the world playing ball.

LOP is not happening but that's just my opinion.

They would rd, to rid the effects of past inflation. Thusly why they had to print 25,000 dinar notes worth about twenty bucks. That's by they would rd, and the best dang time to rd IS when inflation rate is low. C'mon man, read up

I respect your opinion that you don't think it will happen, but your reasons are bunk

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caz1104 Newbie

caz1104

Posted
Posted

The Lopsters never give up

LOL!!! But they(LOPsters) say they don't want a RD/LOP,but I have yet to see a post otherwise............go figure. GO RD!!!!!

Ill give you a hint, he is still around. And one of DVs favorite supposed "lopsters" lol

LOL!!! A LOPster that changes his cartoon character..........that would be a 1st.........NOT!

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