screwball Posted August 12, 2019 Report Share Posted August 12, 2019 On 8/7/2019 at 6:50 AM, screwball said: It is planned to remove zeros off currency and make the rial value real," Iran's government website quoted Ahmadinejad as saying. "The value of rial, under the law, is calculated on the basis of the price of gold. For some reason, the rial has been devaluated and we have to return its value to the one existing in the law." Yep....make it real.. 1 1 Link to comment Share on other sites More sharing options...
boosterbglee Posted August 12, 2019 Report Share Posted August 12, 2019 Early morning in Iran......hope we can see something positive...SOON! 1 Link to comment Share on other sites More sharing options...
ametad Posted August 12, 2019 Report Share Posted August 12, 2019 The price of the Rial is pegged on the gold market, therefore the value of a Toman will increase with a change of denomination from Ten Rials to one Toman to Ten Thousand Rials to one Rial. The most current economic law I could find is six decades old, 13th March 1932 https://en.m.wikipedia.org/wiki/Pahlavi_Gold_Coins One Rial is equal to 0.033322882 grams of gold; $48.1347 per gram of gold (current spot price). $1.60 per Rial With One Toman equal to 10 Rial then One Toman equals $16.00 With a change of One Toman Equal to Ten Thousands Rials then One Toman equals $16,000 per Toman. Therefore a Re-Domination of the Rial increases the value of the Toman at the same time it pegged the currency on Gold. Just my 2 cents, still not sure how it works. This is just the logical flow I see. 2 2 Link to comment Share on other sites More sharing options...
navira Posted August 12, 2019 Report Share Posted August 12, 2019 5 minutes ago, screwball said: Yep....make it real.. SB, what is existing value in the law? 1 Link to comment Share on other sites More sharing options...
navira Posted August 12, 2019 Report Share Posted August 12, 2019 2 minutes ago, ametad said: The price of the Rial is pegged on the gold market, therefore the value of a Toman will increase with a change of denomination from Ten Rials to one Toman to Ten Thousand Rials to one Rial. The most current economic law I could find is six decades old, 13th March 1932 https://en.m.wikipedia.org/wiki/Pahlavi_Gold_Coins One Rial is equal to 0.033322882 grams of gold; $48.1347 per gram of gold (current spot price). $1.60 per Rial With One Toman equal to 10 Rial then One Toman equals $16.00 With a change of One Toman Equal to Ten Thousands Rials then One Toman equals $16,000 per Toman. Therefore a Re-Domination of the Rial increases the value of the Toman at the same time it pegged the currency on Gold. Just my 2 cents, still not sure how it works. This is just the logical flow I see. This would be what SB is referring to in Iran law....I supposed? 1 2 1 Link to comment Share on other sites More sharing options...
navira Posted August 12, 2019 Report Share Posted August 12, 2019 4 minutes ago, ametad said: The price of the Rial is pegged on the gold market, therefore the value of a Toman will increase with a change of denomination from Ten Rials to one Toman to Ten Thousand Rials to one Rial. The most current economic law I could find is six decades old, 13th March 1932 https://en.m.wikipedia.org/wiki/Pahlavi_Gold_Coins One Rial is equal to 0.033322882 grams of gold; $48.1347 per gram of gold (current spot price). $1.60 per Rial With One Toman equal to 10 Rial then One Toman equals $16.00 With a change of One Toman Equal to Ten Thousands Rials then One Toman equals $16,000 per Toman. Therefore a Re-Domination of the Rial increases the value of the Toman at the same time it pegged the currency on Gold. Just my 2 cents, still not sure how it works. This is just the logical flow I see. AT, now ur talking my language, haha....doesn't this rate ring a bell to anyone?(rate of the dinar what once Dr Shabibi said that dinar could reach as high as 16dollars per dinar...wink) 4 1 2 1 2 Link to comment Share on other sites More sharing options...
Miamiheatnic Posted August 12, 2019 Report Share Posted August 12, 2019 3 minutes ago, navira said: AT, now ur talking my language, haha....doesn't this rate ring a bell to anyone?(rate of the dinar what once Dr Shabibi said that dinar could reach as high as 16dollars per dinar...wink) Haha man that would be crazy but amazing 2 2 1 Link to comment Share on other sites More sharing options...
screwball Posted August 12, 2019 Report Share Posted August 12, 2019 3 hours ago, navira said: AT, that is correct... So far I have deduced that currently the value is at; 1 USD : 42,000 Rial 1 USD : 4,200 Toman Working the math in the other direction. 10,000 Rial : 0.238 USD 10,000 Toman : 2.381 USD If, however, the rate is 40,000rials = 1 USD , then the rate would be a little higher on both rials n toman. Cheers 2.381 looks great to me close to Bahrain’s and Oman’s rate! 1 2 1 Link to comment Share on other sites More sharing options...
screwball Posted August 12, 2019 Report Share Posted August 12, 2019 2 hours ago, navira said: This would be what SB is referring to in Iran law....I supposed? Pretty close imho 1 Link to comment Share on other sites More sharing options...
ChuckFinley Posted August 12, 2019 Report Share Posted August 12, 2019 Come on, I ready to see this. I don't hold Rials but I am pumped to see you guys get this. 1 1 6 Link to comment Share on other sites More sharing options...
screwball Posted August 12, 2019 Report Share Posted August 12, 2019 6 hours ago, navira said: SB, what is existing value in the law? I will have to search the archives...I did read it somewhere 1 Link to comment Share on other sites More sharing options...
pokerplayer Posted August 12, 2019 Report Share Posted August 12, 2019 10 minutes ago, ChuckFinley said: Come on, I ready to see this. I don't hold Rials but I am pumped to see you guys get this. Morning Chuck, have a great day ! pp 1 1 2 Link to comment Share on other sites More sharing options...
pokerplayer Posted August 12, 2019 Report Share Posted August 12, 2019 2 minutes ago, screwball said: I will have to search the archives...I did read it somewhere Heres hoping today is the day we have been waiting for Screwball !! With the dinar close behind !! pp 2 3 2 Link to comment Share on other sites More sharing options...
Miamiheatnic Posted August 12, 2019 Report Share Posted August 12, 2019 Any news? So did the rial end up being worth a lot. 3 1 Link to comment Share on other sites More sharing options...
pokerplayer Posted August 12, 2019 Report Share Posted August 12, 2019 1 minute ago, Miamiheatnic said: Any news? So did the rial end up being worth a lot. No Information yet. Still in waiting mode to see if she's an RV or a LOP. pp 1 1 Link to comment Share on other sites More sharing options...
WheresmyRV? Posted August 12, 2019 Report Share Posted August 12, 2019 2 Link to comment Share on other sites More sharing options...
boosterbglee Posted August 12, 2019 Report Share Posted August 12, 2019 How about a reveal party for the Rial!😊 Hoping for an exciting day for Poker🤗 1 1 1 2 Link to comment Share on other sites More sharing options...
Miamiheatnic Posted August 12, 2019 Report Share Posted August 12, 2019 Hoping for a RV. If that really happened, there no way IRAQ isn't far behind haha. Cheers to RVs for everyone! 8 Link to comment Share on other sites More sharing options...
ChuckFinley Posted August 12, 2019 Report Share Posted August 12, 2019 4 hours ago, pokerplayer said: Morning Chuck, have a great day ! pp Just checking in to see how you are doing - on standby. 3 minutes ago, Miamiheatnic said: Hoping for a RV. If that really happened, there no way IRAQ isn't far behind haha. Cheers to RVs for everyone! I am hoping this becomes the catalyst to get Iraq across the finish line. 2 1 6 Link to comment Share on other sites More sharing options...
Miamiheatnic Posted August 12, 2019 Report Share Posted August 12, 2019 1 hour ago, ChuckFinley said: Just checking in to see how you are doing - on standby. I am hoping this becomes the catalyst to get Iraq across the finish line. Yes for sure.. It's all pretty exciting nonetheless. 1 1 Link to comment Share on other sites More sharing options...
ChuckFinley Posted August 12, 2019 Report Share Posted August 12, 2019 44 minutes ago, Miamiheatnic said: Yes for sure.. It's all pretty exciting nonetheless. I hear you. The dominos are starting to fall. 3 Link to comment Share on other sites More sharing options...
ChuckFinley Posted August 12, 2019 Report Share Posted August 12, 2019 7 hours ago, pokerplayer said: No Information yet. Still in waiting mode to see if she's an RV or a LOP. pp Right there with you. 1 2 Link to comment Share on other sites More sharing options...
pokerplayer Posted August 12, 2019 Report Share Posted August 12, 2019 2 minutes ago, ChuckFinley said: Right there with you. Thxs Chuck, fingers, and toes crossed... lol pp 1 1 2 Link to comment Share on other sites More sharing options...
ChuckFinley Posted August 12, 2019 Report Share Posted August 12, 2019 28 minutes ago, pokerplayer said: Thxs Chuck, fingers, and toes crossed... lol pp Ok I am on Stand-by. 1 2 2 Link to comment Share on other sites More sharing options...
pokerplayer Posted August 12, 2019 Report Share Posted August 12, 2019 6 minutes ago, ChuckFinley said: Ok I am on Stand-by. Depending on how it turns out and I don't to excited, I will post what ever I have for you Chuck. Love your positive attitude for sure. pp 1 1 2 Link to comment Share on other sites More sharing options...
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