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Re-Denomination Of The Iraqi Dinar

VIZIOIRAQI

By VIZIOIRAQI,
in Iraq & Dinar Related News

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VIZIOIRAQI Newbie

VIZIOIRAQI

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Re-Denomination Of The Iraqi Dinar

With the dinar being increased in value, it will be able to vie for supremacy with strong currencies of the world like the US dollars and the British Pound Sterling. The redenomination of the dinar brought about the introduction of various denominations like 25, 10, 5, 1, 1/2, 1/4, and even smaller units of the dinar.

This in my opinion will go a long way in improving the economy of the country to a great extent. The availability of these small units of the dinar can be seen as an indication that prices of commodities will be low considerably. It means that there will be some items that will be sold for lower prices compared with what they have ever gone for initially.

According to the Iraqi finance minister, the redenomination is due to the successful fiscal policies that are pursued by the Iraq government. One thing that will help the Iraqi dinar to be strong against the dollar is the recent year drop in the value of the US dollars. The Iraqi dinar can significantly ride on the back of the recession hit in the US to give itself some measure of significance among strong currencies the world over.

The question now is whether the re-denomination of the dinar and the increase in its value will help in making Iraqi's economy to become considerably strong to the extent that it will be able to vie with other strong economies the world over. To prove the fall in value of the US dollars in the Iraqi capital market, the demand for the US dollars had greatly reduced. Local dealers who would rather have traded in the US Dollars seemed to have changed their minds to opt for the Iraqi dinar. This is one of the factors that are responsible for the growth of the Iraqi dinar against the US Dollars.

Though there is the news of the re-denomination, the old currency notes are the ones that still hold sway in the Iraqi market. But the central bank has the intention of removing the old currency notes from circulation by the end of the present year 2010. This was made known by Mudhhir Muhammad Salih, who is an advisory panel committee member. This means that by the beginning of the New Year 2011, the current currency notes would have all been replaced by the new ones.

But while the old and the new are available in Iraq both of them will be legal tender until when the old notes are finally removed from circulation.

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dinarmoneyman__702 Newbie

dinarmoneyman__702

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look at that another lop i mean redenomination article...and for the ones asking for links read what doc31 just said.......lop lop lop lop lop no other way around these articles......the 25 replaces the 25000, the 10 replaces the 10000, the 5 replaces the 5000, the 1 replaces the 1000. the 1/2 replaces the 500 and the 1/4 replaces the 250 and there will be some fil coins....there you have it people now can you take the blinders off and stop paying attention to gurus who are liars...this article has a link and its in the news section.

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bigoz89 Newbie

bigoz89

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VIZIO, I may be reading into this to far but it seems to have been written from the point of view that re-denomination and RV of the dinar has taken place? Any thoughts?

Good find!!! That article is dated August 5th, 2010....

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VIZIOIRAQI Newbie

VIZIOIRAQI

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Come on man.... then what is the point of the post?

I thought it was interesting that they used this quote With the dinar being increased in value, it will be able to vie for supremacy with strong currencies of the world like the US dollars and the British Pound Sterling. The post's coming out today fit in with it, and just because there is no link doesn't make it not informative. Trust me if I had the link you would to!

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dinarmoneyman__702 Newbie

dinarmoneyman__702

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look at that another lop i mean redenomination article...and for the ones asking for links read what doc31 just said.......lop lop lop lop lop no other way around these articles......the 25 replaces the 25000, the 10 replaces the 10000, the 5 replaces the 5000, the 1 replaces the 1000. the 1/2 replaces the 500 and the 1/4 replaces the 250 and there will be some fil coins....there you have it people now can you take the blinders off and stop paying attention to gurus who are liars...this article has a link and its in the news section.

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VIZIOIRAQI Newbie

VIZIOIRAQI

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VIZIO, I may be reading into this to far but it seems to have been written from the point of view that re-denomination and RV of the dinar has taken place? Any thoughts?

Good find!!! That article is dated August 5th, 2010....

Hey good find and thank you your Awesome wink.gifcool.gif mxridermomma, on 01 December 2010 - 11:08 AM, said:

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dandinar Newbie

dandinar

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look at that another lop i mean redenomination article...and for the ones asking for links read what doc31 just said.......lop lop lop lop lop no other way around these articles......the 25 replaces the 25000, the 10 replaces the 10000, the 5 replaces the 5000, the 1 replaces the 1000. the 1/2 replaces the 500 and the 1/4 replaces the 250 and there will be some fil coins....there you have it people now can you take the blinders off and stop paying attention to gurus who are liars...this article has a link and its in the news section.

Im new here, but have been reading all the posts since early summer. If they indeed redenominate, wouldn't everyone have an exchange period to cash in before the dinar becomes nothing to us? I remember other posts stating that Iraq wasn't a country capable of a lop. Just trying to figure thigs out and put the pieces together like all of you. Not bashing at all. Hope someone can shed some light on this.

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dinarmoneyman__702 Newbie

dinarmoneyman__702

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Im new here, but have been reading all the posts since early summer. If they indeed redenominate, wouldn't everyone have an exchange period to cash in before the dinar becomes nothing to us? I remember other posts stating that Iraq wasn't a country capable of a lop. Just trying to figure thigs out and put the pieces together like all of you. Not bashing at all. Hope someone can shed some light on this.

IF they redenominate like many articles state then yes there will be a time period..nobody knows hoe long...its whatever iraq says.....the ones who say iraq is not capable of a lop are misinformed and miseducated and only listen to gurus (liars) for their research....i hope its doesnt lop but this article and many other SCREAM lop and its revenue neutrel so it doesnt affect them at all and they will raise the value when they redenominate...this is for iraq and iraq only and this dinar revalue is not to save the planet from economic downfall...lets hope for a straight up rv but its looking more and more like a lop

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Jac Newbie

Jac

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From August huh?... and how do you suppose that the 25 dinar will equal the 25000 dinar note? how would that translate to the banking sector. would my bank account in iraq go from 100,000 dinar down to 100 dinar? cause that is what you are saying.

As I said on another post articles and news relases republished and republished from other Iraq News Sources. The most recent date on this one was August 5, 2010.

Blessings and God Bless America!

Edited by Jac
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Serenity Newbie

Serenity

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From August huh?... and how do you suppose that the 25 dinar will equal the 25000 dinar note? how would that translate to the banking sector. would my bank account in iraq go from 100,000 dinar down to 100 dinar? cause that is what you are saying.

Your 100,000 dinar would be equal to 100 dinar, in dollar value.....(100,000 X.00086 is the same as 100 X.86)

Take out the three zeroes; value, in dollars, remains the same.... :rolleyes:

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Jerrial Newbie

Jerrial

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So what your trying to say is that 500,000 dinar will only be worth 1,875 us if they revalue the currency at three dollars is that what they mean by coexsisting of the two notes 25,000 and it to be valued at 25 dinar. Cause three x 25 is 75. If they do that then if you don't have millions your not going to make a killing but you will make a modest profit not what you dreamed of or me cause I can't afford to by anymore and I've been believing in it the other way around hope that he's wrong.

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dandinar Newbie

dandinar

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So what your trying to say is that 500,000 dinar will only be worth 1,875 us if they revalue the currency at three dollars is that what they mean by coexsisting of the two notes 25,000 and it to be valued at 25 dinar. Cause three x 25 is 75. If they do that then if you don't have millions your not going to make a killing but you will make a modest profit not what you dreamed of or me cause I can't afford to by anymore and I've been believing in it the other way around hope that he's wrong.

Im starting to think the same thing. Im hoping that isn't how this is going to turn out, then we are pretty much all screwed out of the investment that we hoped for. It's not looking good from all the articles lately. Sure hope it's not true and someone can explain that we will get our large reward.

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