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 I am placing this in the opinions and perspectives section because it’s not a rumor. This is an actual conversation I  personally had today. 

 

 I was hanging out at the Pittsburgh airport today waiting for another friend to fly in, and to kill some time I walked over to the currency exchange booth that you see in every airport. I asked the lady behind the counter if she had any information on the Iraqi dinar. She said they don’t, and never have, and never will deal with Iraqi currency. I asked her if she knew of any impending changes in the Iraqi currency. She said and I quote “ When Iraq comes out with their new currency it will be at the new rate, however, the currency we hold now will stay at the same rate it is currently.  We won’t make any money on the old currency that we hold now.” 

 

 Again, this is not my opinion I am just stating what the currency exchange lady told me at the airport today. 

 

 Please don’t shoot the messenger, but I’m interested in peoples thoughts on this as a possibility? 

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That would be called a LOP.

Most say thats not possible with all the Iraq resources. 

What does she know anyways. No one knows for sure.

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She has no idea, and is tired of people asking about the Dinar. 

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2 hours ago, climber7 said:

She said and I quote “ When Iraq comes out with their new currency it will be at the new rate, however, the currency we hold now will stay at the same rate it is currently.  We won’t make any money on the old currency that we hold now.” 

 

I guess that depends on what she means by new currency.  Is she referring to lower denominations or actual new/changed currency???  Also the US changes the face of the currency every couple years with new security features. Does that mean that the value of that currency changed??  Nope.  So I guess it's all a matter of interpretation. 

 

My question to her would be how does she know this information and how reliable is it??  Also how can a country/forex have 2 different values for a currency???

 

SR

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I agree with gregp.  She is probably giving the standard answer she has been told to give.  Remember, in the early days banks were selling dinar.  Now their "canned response" is that they do not sell dinar and will not be exchanging.  Watch how quickly they will reverse course post RV.

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While this is an option, (anything can happen), Lops are very common with currencies around the globe, so some people feel this will be similar to how other Countries have changed their currencies in the past. Obviously we know all the reasons why Iraq is different, tremendous  resources, no inflation, etc.. don’t put much stock in what she said, she along with Millions or Billions of people will be shocked if/when this thing pops!!

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The woman is just an employee doing a job and probably knows no more than Joe the plumber.

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The USA reduced  the value of the dinar. The USA has big plans for Iraq and there currency.  They will not let it stay at a 10th of a penny.

We helped rebuild Europe  Japan among other countries. China would be a third world country if we had not helped them. 

So we just have to be patient. Its going to happen!

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3 hours ago, pricestar8 said:

The USA reduced  the value of the dinar. The USA has big plans for Iraq and there currency.  They will not let it stay at a 10th of a penny.

We helped rebuild Europe  Japan among other countries. China would be a third world country if we had not helped them. 

So we just have to be patient. Its going to happen!

 

 I did not give you the ruby downer, but I am just surmising what the possibilities could be. 

 

 I’m wondering what the chances are that the new currency will have a new value but the old currency that we have won’t transfer and apply? 

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The currencies CANNOT have different values period ever! The value has to be the same for lower denoms and the currency we hold! But yes if you want to take the word of some lady at a kiosk making $12 per hour be my guest! It’s hilarious that she said to your question that they don’t deal with the dinar and never will but in the next response she knew for a fact the current currency out now would hold a different rate then the new currency that was going to be released...lololololol..how laughable is that seriously!

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I never claim to be a financial whiz—I’m just wading through all this trying to make sense of it all like everyone else. 

 

The way I took what she meant was when they change their currency for the new notes—we won’t be using the old notes we now hold so there won’t be two currencies in play at the same time. 

 

I think she meant the old currency we hold, if we try to exchange it after new notes/rates come out, we simply won’t be able to exchange our old notes at the new rates to get rid of them.

 

Just how I interpreted it.....

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The CBI has stated that new and old notes would be to honored equally, for I believe 2 years. It may have been as much as 10. If you live in the States, think of it as the new $20 along side on old $20. Both are worth $20.00.

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The new Lower denomination notes and the old 000 notes we hold will coexist for a period of time dictate by the CBI.

Lower denomination notes = new rate 

 

Go RV

Go $1:1

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23 minutes ago, Laid Back said:

Lower denomination notes = new rate 

 

Must the 000 notes have the new rate also as the new lower notes? 

 

Asking for a friend.... 

Edited by climber7
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Climber yes the 000 notes and lower denom notes will be the Exact same rate!! Their is no country in the world that has two different rates for different denominations it doesn’t work that way!!

 

Example:

50 dinar at a rate of 1 to 1 is worth $50.00 U.S. dollars

25,000 dinar will have the same exact rate and be worth $25,000.00 U.S. dollars.

 

They cannot give the smaller note a different rate then the larger note Period!

Edited by Dinarrock
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3 hours ago, Dinarrock said:

Climber yes the 000 notes and lower denom notes will be the Exact same rate!! Their is no country in the world that has two different rates for different denominations it doesn’t work that way!!

 

Example:

50 dinar at a rate of 1 to 1 is worth $50.00 U.S. dollars

25,000 dinar will have the same exact rate and be worth $25,000.00 U.S. dollars.

 

They cannot give the smaller note a different rate then the larger note Period!

Thank you Dinarrock, for answering climber 7 question.

 

Go RV sooner than later 

Go $1:1

 

 

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10 hours ago, Laid Back said:

Thank you Dinarrock, for answering climber 7 question.

 

Go RV sooner than later 

Go $1:1

 

 

 

Thank you for thanking him LB lol 

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