Question on the Dinar

[Kazoo219]

Its been six years since I've had the dinar tucked away and out of sight.. I just recently decided to check the status of the exchange rate and noticed during my search on yahoo( Slicing three zeros).

What does that mean in particular? Does the 1 million I have become 1 thousand? That doesn't sound right and I don't think they would change their currency again...

Edited September 11, 2010 by Kazoo219

[BANE]

Its been six years since I've had the dinar tucked away and out of sight.. I just recently decided to check the status of the exchange rate and noticed during my search on yahoo( Slicing three zeros).

What does that mean in particular? Does the 1 million I have become 1 thousand? That doesn't sound right and I don't think they would change their currency again...

Read every post in the LOP section and it will tell you.

[Kazoo219]

What does LOP and RV stand for? What is Central Bank of Iraq going to do?

[buckwheat]

Its been six years since I've had the dinar tucked away and out of sight.. I just recently decided to check the status of the exchange rate and noticed during my search on yahoo( Slicing three zeros).

What does that mean in particular? Does the 1 million I have become 1 thousand? That doesn't sound right and I don't think they would change their currency again...

Your 1 million will remain 1 million there will be no lop. The currency will not change to a different type of currency. According to Ali in his new interview, He is positive that there will not be a time limit on turning in the large denominations. The currency is the currency no matter the denomination and will be honored at face value for as long as there is a stable country of Iraq. Once it R/V's to reasonable amount, it will fluctuate just like any other currency. Very soon Iraq will be a wealthy nation and will continue to be as long as the government doesn't mess things up with rampant corruption or go back to being what it was under Saddam. This is a fresh start for Iraq, let's all hope they continue in the right direction for their people.

Edited September 11, 2010 by buckwheat

[Kazoo219]

Buckwheat

Thanks for the reply.. What do you recommend that I do with the currency I have? 1 million (25,000 All large denominations)

Is there a way to get a foreign bank account?

What are these abbreviations for? LOP - R/V - D/V

Edited September 11, 2010 by Kazoo219

[CeCe]

Buckwheat

Thanks for the reply.. What do you recommend that I do with the currency I have? 1 million (25,000 All large denominations)

Is there a way to get a foreign bank account?

Check the Section with Warka..

What are these abbreviations for? LOP - R/V - D/V

LOP-Loss of Profit

R/V- Revaluation

There is a post, if you check the Questions section, that was made recently on the abbreviations. Good Luck!

[Kazoo219]

People like to muck this up. Here is a quick and simple answer to your question.

If there were a redenomination (L0P or RD)(3 zero L0P in this example) you would now exchange your 1 million old IQD for 1 thousand new IQD. The value in USD would remain the same.

So your telling me, worst cases scenario they would due a recall on that currency and issue new.. (The value in USD would remain the same.??????????? 0.00084 or 0.84)

[dlbfilm]

Just be patient and read. Right now everyone is just guessing what will happen. As soon as it RVs we will all know exactly what it is and what to do. Read, Read, Read..... there is so much info on this site...

[cisco]

Your 1 million will remain 1 million there will be no lop. The currency will not change to a different type of currency. According to Ali in his new interview, He is positive that there will not be a time limit on turning in the large denominations. The currency is the currency no matter the denomination and will be honored at face value for as long as there is a stable country of Iraq. Once it R/V's to reasonable amount, it will fluctuate just like any other currency. Very soon Iraq will be a wealthy nation and will continue to be as long as the government doesn't mess things up with rampant corruption or go back to being what it was under Saddam. This is a fresh start for Iraq, let's all hope they continue in the right direction for their people.

Is this true for all the dinars in circulation, 20 + trillion, including mine?

[dlbfilm]

Now thats the trillion dollar question.... time will tell. Hopefully next week all of the rumors will stop and we will all know exactly where we stand....