ON XE .COM DROP THREE ZEROS

[pourit]

IQD - Iraqi DinarMore currenciesIraq, 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." 0 : 31USD EUR GBP JPY CAD AUD CHF CNY 1 IQD =

Inverse:0.00086

1166.19 0.00066

1525.01 0.00055

1818.34 0.07432

13.4548 0.00089

1124.01 0.00095

1048.21 0.00089

1121.72 0.00581

172.075 Click on a currency code to learn about it.

IQD Facts

ISO 4217 Code: IQD

Minor Unit:

1/1000 = fils

Symbol: د.ع Coins:

Freq Used: د.ع 25, د.ع 50, د.ع 100

Banknotes:

Freq Used: د.ع 50, د.ع 100, د.ع 250, د.ع 500, د.ع 1000, د.ع 5000, د.ع 10000, د.ع 25000

Central Bank

Central Bank of Iraq

Website:

www.cbi.iq/

Users: Iraq.

Have more info about the

Iraqi Dinar?

Email us ►

IQD Currency Converter

More currencies...Amount:From this currency:To this currency: USD US Dollar EUR Euro GBP British Pound CAD Canadian Dollar AUD Australian Dollar RUB Russian Ruble JPY Japanese Yen INR Indian Rupee BGN Bulgarian Lev NZD New Zealand Dollar CHF Swiss Franc ZAR South African Rand SGD Singapore Dollar HKD Hong Kong Dollar SEK Swedish Krona THB Thai Baht HUF Hungarian Forint CNY Chinese Yuan Renminbi NOK Norwegian Krone MXN Mexican Peso IQD Iraqi Dinar Click for more

[Walker Texas Ranger]

Wow. Great Post. Go RV!?

[Soldier]

I don't know how this is considered a great post since it is in regards to a LOP. Is this new?

[pourit]

I don't know how this is considered a great post since it is in regards to a LOP. Is this new?

I posted it...Truthfully I didn't consider it LOP nor did I post it there...it was moved. I posted it only to let folks know it was being discussed on XE today....which I thought was interesting. Now I'm getting minuses. Truthfully...if you read it closely it says NOTHING about LOP. I took it to mean a 1000 would be 1000 and a 1 would be 1 . Maybe I'm wrong. Minuses are fine...but maybe I should quit posting. I was just giving information. POURITFORWARD

[Captain Terry]

Now, I'm not the sharpest knife in the drawer!!! So, if I have read this wrong, let me know. What this means to me is that if I had 1,000,000 in Dinar that they will be worth $1,000 after the redomination. Please, somebody correct me if I am wrong.

Also, I looked at the date on this article being February of 2010.

That's my story and, I'm stickin to it!!

Captain Terry

[pourit]

Now, I'm not the sharpest knife in the drawer!!! So, if I have read this wrong, let me know. What this means to me is that if I had 1,000,000 in Dinar that they will be worth $1,000 after the redomination. Please, somebody correct me if I am wrong.

Also, I looked at the date on this article being February of 2010.

That's my story and, I'm stickin to it!!

Captain Terry

Terry...I don't see it that way. If you take the word BOTH out it would mean that but with the word BOTH in there...it sounds good to me.I know...it's ambiguous. I'm not seeing LOP.

[Patrick88]

That article is from February 11th. Its old and there has been a tremendous amount of commentary refuting the article.

[gregg450]

Terry...I don't see it that way. If you take the word BOTH out it would mean that but with the word BOTH in there...it sounds good to me.I know...it's ambiguous. I'm not seeing LOP.

I would agree with you except for the words "pre-denomination" and "post-denomination".

This has been on their site since at least Feb but they may have changed the reasons in the verbiage.

[carlablum]

I posted it...Truthfully I didn't consider it LOP nor did I post it there...it was moved. I posted it only to let folks know it was being discussed on XE today....which I thought was interesting. Now I'm getting minuses. Truthfully...if you read it closely it says NOTHING about LOP. I took it to mean a 1000 would be 1000 and a 1 would be 1 . Maybe I'm wrong. Minuses are fine...but maybe I should quit posting. I was just giving information. POURITFORWARD

I have seen this happen before where a piece of good info that had links was put in the LOP talk becouse it mentioned ooo's... I think there needs to be some explaination as to why it was moved. I was under the impression that if there was information/news with a link that the news is where it should go. I personally don't open the LOP talk section and would hate to miss news whether it be controversal or not. Thank you for the news and post!!! Pourit your awesome!!!!!!!!!!!!!!!!

I gave you a + on all your posts in this thread!!

[super]

It's Okay to get jelly in you belly friends, but not in you spine. It's simple to me, if I believed in that nasty L word I would hurry up and get rid of my dinar. In other words if you believe in the RV then WE are going to hold our dinar until the RV horn goes off! Have a nice day!

Edited July 29, 2010 by super

[sportfisher]

I posted it...Truthfully I didn't consider it LOP nor did I post it there...it was moved. I posted it only to let folks know it was being discussed on XE today....which I thought was interesting. Now I'm getting minuses. Truthfully...if you read it closely it says NOTHING about LOP. I took it to mean a 1000 would be 1000 and a 1 would be 1 . Maybe I'm wrong. Minuses are fine...but maybe I should quit posting. I was just giving information. POURITFORWARD

LOP is a slang term for "redenomination"

[2dinar1dong]

Ok Now I think they are trying to mess with our MINDS.....LOL GO RV

[PNixon]

I did a search and somehow did not find this out, but, I think the key is, what does "NOMINAL VALUE" actually mean?

[Jac]

I have seen this happen before where a piece of good info that had links was put in the LOP talk becouse it mentioned ooo's... I think there needs to be some explaination as to why it was moved. I was under the impression that if there was information/news with a link that the news is where it should go. I personally don't open the LOP talk section and would hate to miss news whether it be controversal or not. Thank you for the news and post!!! Pourit your awesome!!!!!!!!!!!!!!!!

I gave you a + on all your posts in this thread!!

Kudos CB, I didn't read this as lop talk at all. if they are droping zeros from the rate tht would different from droping the zeros from the actual currency. This could be some very good news a hint at the forthcoming rate or the currency moving up while still in the managed float before the actual RV.

1.00 IQD = 0.000857339 USD

Iraq Dinars United States Dollars

It appears that something has changed regarding the rate at least accoding to converter on Xe.com

[racbluto]

I just don't understand how they could do a LOP or redenomination. How would it effect the smaller bills or electronic dinar held in accounts. They can not screw the investors out side of Iraq and expect anyone to help them rebuild there economy. Or regain any status in the world markets. Certainly this would be economic suicide for Iraq. But who knows, maybe they would do it. My experiance is that you can't trust them to do anything they say they will do. So we wait for the truth.

[kaka]

that sound is not good

[truckerron49]

Can't lop. It has been talked into the ground. I am not sure why anyone would post anything that looks like lop info unless they had it last year and just couldn't talk about it because it would compromise the integrity of their Intel donor. I suppose that is possible.....Go RV..

[Maynard57]

Good one, Pourit. The very fact of these dinar discussions taking place with increasing frequency outside of our own forum, well, I find that really interesting. Very telling. I think its indicative of something about to take place more people are getting wise to it.

Maynard

[Steveruss]

Old news people , lets not start this again, thanks for the post

[Guest Erhouse]

Capt Terry, 1 dollar=,00084 Iraqi dinar. Lop 3 zeors = 84 cents US.

[faithkeeper]

just to let you know this is old news here is when it came out

2010-02-11 13:11 (UTC)

BAGHDAD, Feb 11 (Reuters) - Iraq expects to redenominate its dinar currency by knocking three zeros off the nominal value of bank notes to facilitate currency transactions, a central bank official said on Thursday.

http://www.xe.com/news/2010/02/11/951385.htm http://www.xe.com/news/2010/02/11/951385.htm

[Joe P]

I did a search and somehow did not find this out, but, I think the key is, what does "NOMINAL VALUE" actually mean?

Helloooo Nixon,

Welcome to our dreams.

Two terms are important to you: "nominal value" and "market value". The first means humanly managed which it currently is by Shabibi. He has held the nominal value at 1170 for over a year.

We are all waiting on pins and needles for the later term...or RVed at a market determined rate.

There are three ways we will see the new value: fixed, floating, or managed.

Fixed means static for a set amount of time with zero movement. Floating means pure market driven with wild fluctuations...very scary for Iraq but possible. And managed which means value set including ceiling and floor for predetermined time.

Most likely we will experience the last one...but that's an educated guess. So currently it has a nominal value...soon to change.

Welcome to the family and enjoy the ride. Don't get too high or too low on posts and promises. The theif will come in the dark and VOILA.

Also...don't get wrapped up in LOP talk. The last country that LOPPED their currency executed their minister of finance. That execution was ordered by the government. Shabibi likes his life.

[Guest MiKE]

I posted it...Truthfully I didn't consider it LOP nor did I post it there...it was moved. I posted it only to let folks know it was being discussed on XE today....which I thought was interesting. Now I'm getting minuses. Truthfully...if you read it closely it says NOTHING about LOP. I took it to mean a 1000 would be 1000 and a 1 would be 1 . Maybe I'm wrong. Minuses are fine...but maybe I should quit posting. I was just giving information. POURITFORWARD

[PNixon]

Helloooo Nixon,

Welcome to our dreams.

Two terms are important to you: "nominal value" and "market value". The first means humanly managed which it currently is by Shabibi. He has held the nominal value at 1170 for over a year.

We are all waiting on pins and needles for the later term...or RVed at a market determined rate.

There are three ways we will see the new value: fixed, floating, or managed.

Fixed means static for a set amount of time with zero movement. Floating means pure market driven with wild fluctuations...very scary for Iraq but possible. And managed which means value set including ceiling and floor for predetermined time.

Most likely we will experience the last one...but that's an educated guess. So currently it has a nominal value...soon to change.

Welcome to the family and enjoy the ride. Don't get too high or too low on posts and promises. The theif will come in the dark and VOILA.

Also...don't get wrapped up in LOP talk. The last country that LOPPED their currency executed their minister of finance. That execution was ordered by the government. Shabibi likes his life.

Joe,

Thank you very much for the welcome, I appreciate the post. So being that they state the zeros are coming of the "nominal value", I can't see why anyone would possibly think LOP, and I'm a pessimist! If indeed they wrote what they meant, then no LOP, clear as a clear day. Why the discussions regarding LOP then. Its just a waist of time, talking rabble!

Paul

[alice]

Thank you pourit... I get it.....hang in.

Alice