Dinar Rebasing. No time line

[oculaw1957]

Here is a link to an rticle about the rebasing of the Dinar. Since it is news, I placed it here, not in the LOP talk.

We are back to the dropping of 3 zeros. Still works for me! Any thoughts.??

ttp://www.zawya.com/mobile/default.cfm/sidZW20100315000097/iq/%20Ctrl%20Bank%20Plans%20To%20Rebase%20Dinar/actstory

Monday, Mar 15, 2010

(Adds more quotes, details.)

By Hassan Hafidh

Of DOW JONES NEWSWIRES

AMMAN (Dow Jones)--The Central Bank of IraqCentral Bank of Iraq

Central Bank of Iraq

CBI

Iraq | Financial Services

News | Profile | Officers

» Research

is planning to rebase the Iraqi dinar but hasn't decided yet on the timing of the move, the bank said in a statement Monday.

"The Central BankCentral BankLoading... affirms its commitment to its strategic projects, particularly knocking three zeroes from the Iraqi dinar," the statement said.

"Despite the technical and logistical preparations for the project we have yet to decide on suitable timing to implement the project," it said. Choosing a suitable time wouldn't be linked to economic aspects only, but rather to the security situation as well, it added.

Separately, the bank's senior advisor Mudher Qasim told Dow Jones Newswires that knocking off the three zeroes would improve the value of the Iraqi dinar which is trading Monday IQD1,170 against one US dollar.

If the rebase decision is taken it means a current 25,000 Iraqi dinar banknote will become IQD25, and a dollar will equal only 1.17 dinars.

The bank said that knocking off three zeroes from the dinar would "improve management of the currency and facilitate cash dealing." The decision was the result of debate with the economic commission at the Iraqi cabinet, it added.

Sorry. I didn't check the date. My bad!! dropping zeros still works. Again Sorry for posting an old article

[FishMan1969]

OMG, Not again.

Current article, I see.

[dslayer4j]

Look at the date of the article. It's old new and this issue has already been discussed and dealt with.

Thanks for the post though.

[sonny1]

OMG, Not again.

Current article, I see.

fish, your funny. lol

[k98nights]

This article is ancient history and will do nothing but anger the membership... I'm closing the topic