rvmydinar Posted June 24, 2021 Report Share Posted June 24, 2021 1 hour ago, Mary B said: 1. ) they suggested that the price of the new dinar be equal to 50 cents of the dollar 2.) suppose that 3 zeros were removed from the current currency, then each and a half dinar equals one dollar instead of 1500 dinars equivalent to one dollar 1.) 1 iqd= 0.5 usd. 2.) If 0.5 iqd=1 usd, therefore 1 iqd=2 usd. does this mean we have two rates= 0.5 usd and =2 usd? So, the rate will be between= 50 cents - 2 bucks? Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted June 24, 2021 Report Share Posted June 24, 2021 54 minutes ago, Half Crazy Runner said: I’LL TAKE IT!!!! Me too. 4 Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted June 24, 2021 Report Share Posted June 24, 2021 1 hour ago, Mary B said: Economists call for the issuance of a new Iraqi currency 24/6/2021 13:12:00 Economists call for the issuance of a new Iraqi operation Economists called for issuing a new currency for Iraq and linking it to a basket of currencies to maintain the stability of its exchange rate, without the need to remove zeros from the current Iraqi dinar. The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Sunday, that the Central Bank of Iraq has developed a project to delete three zeros from the Iraqi currency in order to reform the cash payments system, pointing out that the implementation of the project needs two conditions, the first is price stability and global economic growth, and the second is appropriate stability in Political life. Economic analyst Mazen Al-Ashikar, in an interview with PUKmedia , said that the idea is not to remove zeros from the dinar. We want to issue a new Iraqi currency, and the new dinar could be equivalent to 1000 dinars of the current dinar or more, and this is not a condition that it be linked to deleting zeros. He added, "A new currency must be issued for Iraq that is linked to a basket of currencies, as is the case in several countries in the Middle East, in the UAE, for example, the dirham has been linked to the dollar and its price has been fixed for about 20 years," noting that they suggested that the price of the new dinar be equal to 50 cents of the dollar, and 25 A penny from the Australian pound, and 25 cents from the euro and is linked to the euro, sterling and dollar basket, and in this case, the higher the price of these currencies, the higher the price of the Iraqi dinar, and the dinar will turn into a hard currency, and all government contracts will be signed in dinar and there will be no need for a currency auction that witnesses corruption and thefts.” Al-Eshaiker stressed that it is necessary to issue a new process to stop waste and corruption, and it is not necessary how much its price will be compared to the current dinar price, but the important thing is that it be linked to a basket of currencies, pointing out that “the implementation of this idea is difficult today because there is corruption, but when an honest person comes who manages The country, it can be implemented," stressing that "issuing the new dinar and canceling the currency shrine is a blow to the corrupt, and therefore it is difficult to implement this now." For his part, economic expert Hammam Shammaa said that removing zeros does not achieve economic benefit, noting that the only benefit is to reduce the amount of banknotes in circulation. Al-Shammaa added in an interview with PUKmedia , that removing zeros does not change the exchange rate system, suppose that 3 zeros were removed from the current currency, then each and a half dinar equals one dollar instead of 1500 dinars equivalent to one dollar, stressing that there is no economic return to removing zeros only achieves Ease of dealings, describing those who demand the removal of zeros in the patriarchs, indicating that the removal of zeros means an increase in costs for the state by issuing new currency notes, and the matter does not need to be done as long as things are going normal. PUKmedia / private https://www.pukmedia.com/AR_Direje.aspx?Jimare=160032 Eventhough they suggested the rate 1 iqd= 50 cents and second rate ,1 dinar= 2 usd ( 0.5 iqd=1 usd ), I amn't going to get excited yet because this is just someone opinion. I believe it when one of those rates show up in the cbi site. 2 Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted June 24, 2021 Report Share Posted June 24, 2021 1 hour ago, Half Crazy Runner said: I’LL TAKE IT!!!! 1 hour ago, Mary B said: suppose that 3 zeros were removed from the current currency, then each and a half dinar equals one dollar instead of 1500 dinars equivalent to one dollar If 0.5 iqd= 1 usd, then 1 iqd=2 bucks. 1 Quote Link to comment Share on other sites More sharing options...
Theseus Posted June 24, 2021 Report Share Posted June 24, 2021 (edited) 24 minutes ago, rvmydinar said: 1.) 1 iqd= 0.5 usd. 2.) If 0.5 iqd=1 usd, therefore 1 iqd=2 usd. does this mean we have two rates= 0.5 usd and =2 usd? So, the rate will be between= 50 cents - 2 bucks? NO. Quote ...they suggested that the price of the new dinar be equal to 50 cents of the dollar... It means that 2 IQD equals 1 USD (or as they put it: 1 IQD equals 0.50 USD). Not the other way around like you posted. 2 x 0.50 = 1.0. Since you multiplied one side of the equation by 2 you have to do the same on the other side of the equation. 2 x 1 = 2. So if you had 1 million IQD and the exchange rate is 2 IQD to 1 USD you would walk away, after exchanging, with $500,000 USD minus any exchange fees. Edited June 24, 2021 by Theseus 7 Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted June 24, 2021 Report Share Posted June 24, 2021 7 minutes ago, Theseus said: NO. It means that 2 IQD equals 1 USD (or as they put it: 1 IQD equals 0.50 USD). Not the other way around like you posted. 2 x 0.50 = 1.0. Since you multiplied one side of the equation by 2 you have to do the same on the other side of the equation. 2 x 1 = 2. So if you had 1 million IQD and the exchange rate is 2 IQD to 1 USD you would walk away, after exchanging, with $500,000 USD minus any exchange fees. If you were referring to number # 1 ( what i wrote above ) 1 iqd=0.5 usd, then you were right. 1 hour ago, Mary B said: then each and a half dinar equals one dollar But what about this word in red colour? Can you explain and calculate that? 0.5 iqd=1 usd, then ( 0.5 x 2= 1 iqd )1 iqd= ( 1 x 2= 2 usd ) 2 bucks, is it a wrong calculation? Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted June 24, 2021 Report Share Posted June 24, 2021 44 minutes ago, rvmydinar said: 1.) 1 iqd= 0.5 usd. 2.) If 0.5 iqd=1 usd, therefore 1 iqd=2 usd. does this mean we have two rates= 0.5 usd and =2 usd? So, the rate will be between= 50 cents - 2 bucks? 22 minutes ago, Theseus said: NO. Which one is " no "? Because number #1 and #2 aren't in the same words. They belong to different sentences. Quote Link to comment Share on other sites More sharing options...
GreedyDinar07 Posted June 24, 2021 Report Share Posted June 24, 2021 Rochester I like your point of view! I wish I could "legally" steal some of that money!!! 1 Quote Link to comment Share on other sites More sharing options...
Longtimelurker Posted June 24, 2021 Report Share Posted June 24, 2021 then each and a half dinar equals one dollar. Each and a half (might mean 1.5) 1 IQD = .66 USD 🤷 2 1 Quote Link to comment Share on other sites More sharing options...
Rochester Posted June 24, 2021 Report Share Posted June 24, 2021 59 minutes ago, GreedyDinar07 said: Rochester I like your point of view! I wish I could "legally" steal some of that money!!! Thanks. As the old saying goes, "Don't steal! The gov't hates the competition!" 2 1 Quote Link to comment Share on other sites More sharing options...
Half Crazy Runner Posted June 24, 2021 Report Share Posted June 24, 2021 2 hours ago, Longtimelurker said: then each and a half dinar equals one dollar. Each and a half (might mean 1.5) 1 IQD = .66 USD 🤷 Even better!! 2 1 2 Quote Link to comment Share on other sites More sharing options...
TOMINVEGAS Posted June 24, 2021 Report Share Posted June 24, 2021 5 hours ago, GreedyDinar07 said: signed in dinar and there will be no need for the currency auction" Well the dinar would need value in order for that to happen. Let’s hope 4 Quote Link to comment Share on other sites More sharing options...
Spartakus Posted June 25, 2021 Report Share Posted June 25, 2021 Something might be cooking at the CBI. There's no smoke without 🔥 4 Quote Link to comment Share on other sites More sharing options...
Laid Back Posted June 25, 2021 Report Share Posted June 25, 2021 I will take $0.50 per dinar in a heartbeat. Go new monetary policy Go RV 1 3 3 Quote Link to comment Share on other sites More sharing options...
Dinarrock Posted June 25, 2021 Report Share Posted June 25, 2021 I will take the .66c and they can have every single dinar I own the very next day!!! 3 Quote Link to comment Share on other sites More sharing options...
screwball Posted June 25, 2021 Report Share Posted June 25, 2021 5 hours ago, Half Crazy Runner said: Even better!! Just the talk of a rate gets me excited 3 2 Quote Link to comment Share on other sites More sharing options...
screwball Posted June 25, 2021 Report Share Posted June 25, 2021 Well I cannot remember a time at all when they talked of a rate let alone 50cents !!! Big news 1 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted June 25, 2021 Report Share Posted June 25, 2021 On 6/23/2021 at 8:08 PM, rvmydinar said: Hopefully, the iqd is pegged to kuwaiti dinar as my first choice. The second choice will be us dollars. 1 UAE=0.27 usd and it is a pretty low rate, but i will take it too if i don't have any other choice. They will not peg to Kuwait 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted June 25, 2021 Report Share Posted June 25, 2021 (edited) 7 hours ago, Spartakus said: Something might be cooking at the CBI. There's no smoke without 🔥 Could launch new building and new rate together? Isn’t new cbi from building today? Edited June 25, 2021 by screwball Quote Link to comment Share on other sites More sharing options...
3 bucks new rv rate Posted June 25, 2021 Report Share Posted June 25, 2021 14 hours ago, Longtimelurker said: then each and a half dinar equals one dollar. Each and a half (might mean 1.5) 1 IQD = .66 USD 🤷 i could live with either 50 cents and 66 cents. 2 Quote Link to comment Share on other sites More sharing options...
3 bucks new rv rate Posted June 25, 2021 Report Share Posted June 25, 2021 14 hours ago, Longtimelurker said: then each and a half dinar equals one dollar. Each and a half (might mean 1.5) 1 IQD = .66 USD 🤷 according to the official cbi rate , 1 usd=1460 iqd, that means 1 iqd=0.68 usd. that's pretty close to 66 cents. may be the cbi has already been planning to revalue the iqd between 50 cents to 68 cents. and what a coincidence, 66 cents is between 50 cents and 68 cents. hopefully, this could be a sign of rv coming s#$n. come on iraq. hurry up and make it happen. 2 Quote Link to comment Share on other sites More sharing options...
3 bucks new rv rate Posted June 25, 2021 Report Share Posted June 25, 2021 1 minute ago, 3 bucks new rv rate said: according to the official cbi rate , 1 usd=1460 iqd, that means 1 iqd=0.68 usd. that's pretty close to 66 cents. may be the cbi has already been planning to revalue the iqd between 50 cents to 68 cents. and what a coincidence, 66 cents is between 50 cents and 68 cents. hopefully, this could be a sign of rv coming s#$n. come on iraq. hurry up and make it happen. i forgot something. 1 usd=1460 iqd, then delete 3 zeros become 1 usd=1.46 iqd, that means 1 iqd=0.68 usd. 2 3 Quote Link to comment Share on other sites More sharing options...
wciappetta Posted June 25, 2021 Report Share Posted June 25, 2021 (edited) This report calls for a dinar to be equal to the dollar .... the good point is actual increased value and not some accounting magic. Not sure if this is where they end up, it could be higher, but this the true plan [adding value]. He added, "A new currency must be issued for Iraq that is linked to a basket of currencies, as is the case in several countries in the Middle East, in the UAE, for example, the dirham has been linked to the dollar and its price has been fixed for about 20 years," noting that they suggested that the price of the new dinar be equal to 50 cents of the dollar, and 25 A penny from the Australian pound, and 25 cents from the euro and is linked to the euro, sterling and dollar basket, and in this case, the higher the price of these currencies, the higher the price of the Iraqi dinar, and the dinar will turn into a hard currency, and all government contracts will be signed in dinar and there will be no need for a currency auction that witnesses corruption and thefts.” Edited June 25, 2021 by wciappetta 2 3 2 Quote Link to comment Share on other sites More sharing options...
BETTYBOOP Posted June 25, 2021 Report Share Posted June 25, 2021 Liking the sound of this. Just wish they would getoving with it 1 Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted June 25, 2021 Report Share Posted June 25, 2021 17 hours ago, Longtimelurker said: then each and a half dinar equals one dollar. Each and a half (might mean 1.5) 1 IQD = .66 USD 🤷 I hope you are right Longtimelurker. Because translation from arabic to english languages can be confusing and has a different meaning. We don't know the real meaning " each and a half dinar " from iraq's dictionary point of view / interpretation. 1 1 Quote Link to comment Share on other sites More sharing options...
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