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Just saw this? Not good?

Trew

By Trew,
in LOPster tank

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Kimjackie Newbie

Kimjackie

Posted
Posted

Hey everyone, I'm extremely new to the world of Dinar Speculation, but I just happened to run accross this link :

http://www.xe.com/currency/iqd-iraqi-dinar

To me, that doesn't seem like encouraging news? :o

Hello Newbie--The link not working properly so cannot respond.. Since you are new here please search this forum for answers you seek to this link because most links ( like what I assume this is) have been hashed over for months and years. Most are smoke and mirrors so dont worry......Welcome and Happy New Year.

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firefighter_218546 Newbie

firefighter_218546

Posted
Posted

I did a copy paste of the website.. This doesn't sound bad to me.. but what do I know...

IQD - Iraqi DinarMore currencies

Iraq, Dinar

The Iraqi Dinar is the currency of Iraq. The currency code for Dinars is IQD, and the currency symbol is د.ع . Below, you'll find Iraqi Dinar rates, a currency converter, Iraqi Dinar News and more. You can also subscribe to our currency newsletters with daily rates and analysis, or take IQD rates on the go with our XE Mobile apps for your iPhone, BlackBerry, or even your regular phone.

The Central Bank of Iraq has announced their plans to redenominate the Iraqi Dinar to ease cash transactions. By the end of 2010, they intend to drop three zeros from the nominal value of bank notes. It should be noted that the actual value of the dinar will remain unchanged. That means that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) will both be worth the same amount in US Dollars. As stated by the Central Bank of Iraq, their mandate is to "ensure domestic price stability and foster a stable competitive market based financial system." For more information about the redenomination, read "Iraq Planning Currency Redenomination."

look at the bottom of the page it's from today

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keepmwlknfny Newbie

keepmwlknfny

Posted
Posted

Hey everyone, I'm extremely new to the world of Dinar Speculation, but I just happened to run accross this link :

http://www.xe.com/currency/iqd-iraqi-dinar

To me, that doesn't seem like encouraging news? :o

Welcome to the crazy world of dinar!!! :lol: Yes a redenomination is bad.....but it might not happen that way......multiple emails have been sent to them and even they have admitted they dont know the outcome of the dinar.....its all up to the CBI......

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MrDinarman Newbie

MrDinarman

Posted
Posted

This has been posted more than 30,000 times across the dinar sites since feb. Newbies, please read all the old posts before posting. Also, if its more than a day old, we already know about it!!! Thats a drop in the bucket as far as bad news is concerned. And for the record, NO ONE on here knows how this whole thing will turn out or IF it will turn out. Just sit back and enjoy the looooong bumpy ride ahead. Grab a puke bag while your at it. To make you feel better go read an Okie or TK post. lol

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keepmwlknfny Newbie

keepmwlknfny

Posted
Posted

its very old but if they do lop they still have to give u time to trade or sell your big notes the currency is registered with the imf so you 10000 dinar is still a 10000 note

Yes the currency is registered with the IMF so they have to honor it as being the currency of Iraq....but that does not mean they cant redenominate and tell you that your 10k note is now only worth 10 new dinar and force you to exchange....this is how a redenomination happens.....

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amira08 Newbie

amira08

Posted
Posted

I did a copy paste of the website.. This doesn't sound bad to me.. but what do I know...

IQD - Iraqi DinarMore currencies

Iraq, Dinar

The Iraqi Dinar is the currency of Iraq. The currency code for Dinars is IQD, and the currency symbol is د.ع . Below, you'll find Iraqi Dinar rates, a currency converter, Iraqi Dinar News and more. You can also subscribe to our currency newsletters with daily rates and analysis, or take IQD rates on the go with our XE Mobile apps for your iPhone, BlackBerry, or even your regular phone.

The Central Bank of Iraq has announced their plans to redenominate the Iraqi Dinar to ease cash transactions. By the end of 2010, they intend to drop three zeros from the nominal value of bank notes. It should be noted that the actual value of the dinar will remain unchanged. That means that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) will both be worth the same amount in US Dollars. As stated by the Central Bank of Iraq, their mandate is to "ensure domestic price stability and foster a stable competitive market based financial system." For more information about the redenomination, read "Iraq Planning Currency Redenomination."

look at the bottom of the page it's from today

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Trew Newbie

Trew

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I'm not concerned with the date, I'm looking at this part,

"BAGHDAD -- The Iraqi Central Bank is planning to redenominate the national currency in an effort to ease transactions and allow people to carry less paper money, RFE/RL's Radio Free Iraq (RFI) reports.

Mudhhir Muhammad Salih, a member of a Central Bank advisory panel, told RFI that a plan has been made to remove three zeros from the currency and phase out the current banknotes late this year.

Salih said by the end of 2010 the new banknotes will be fully introduced while the old banknotes will be gradually removed from circulation. He did not specify when the new notes would be issued.

Both will be legal tender in Iraq until the old notes are completely withdrawn.

Iraqi officials have had a long-running plan to redenominate the Iraqi dinar. In 2006, the Finance Ministry recommended to the Central Bank that it carry out such a plan.

Salih pointed out that banks are having a hard time accepting cash savings and deposits, but by dropping the zeros it will make it easier for both the banks to deal with their customers and for the general public to carry money. He said some 80 percent of Iraq's money supply is cash in circulation"

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MikeyBoy909 Newbie

MikeyBoy909

Posted
Posted

Hey TREW please read below...

"That means that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) will both be worth the same amount in US Dollars."

I believe this means that it should still be worth the same...nothing to worry about hopefully.

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djgabrielie Newbie

djgabrielie

Posted
Posted

Yeah your right... that looks bad...

It is current...

The Iraqi Dinar is the currency of Iraq. The currency code for Dinars is IQD, and the currency symbol is د.ع . Below, you'll find Iraqi Dinar rates, a currency converter, Iraqi Dinar News and more. You can also subscribe to our currency newsletters with daily rates and analysis, or take IQD rates on the go with our XE Mobile apps for your iPhone, BlackBerry, or even your regular phone.

The Central Bank of Iraq has announced their plans to redenominate the Iraqi Dinar to ease cash transactions. By the end of 2010, they intend to drop three zeros from the nominal value of bank notes. It should be noted that the actual value of the dinar will remain unchanged. That means that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) will both be worth the same amount in US Dollars. As stated by the Central Bank of Iraq, their mandate is to "ensure domestic price stability and foster a stable competitive market based financial system." For more information about the redenomination, read "Iraq Planning Currency Redenomination."

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eyesofahkingtoldyouso Newbie

eyesofahkingtoldyouso

Posted
Posted

Hey TREW please read below...

"That means that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) will both be worth the same amount in US Dollars."

I believe this means that it should still be worth the same...nothing to worry about hopefully.

what it means is that the 1000 dollars u spent to get a million dinar will still be worth a 1000 dollars

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