looks like we may have a RATE

[Doctor Smith]

It is the reciprocal because the Dinar number is larger than the Dollar number. So in other words you divide the Dollar by the Dinar instead.

But that is good concept you came up with. And a larger RV than I expected if you can calculate it this way. .

[hammy]

3.22 + 20%??? <-------- LETS GO RV...

I'm in total agreement. I have always thought when this thing pops it will be very close to Kuwaits dinar value. Today would be a good day

[cravenslc]

.86 cents per dinar. That's pretty much deleting the three zeros.

now divide .86 into 1 dollar it comes out 1.16

[estephan]

It appears that the infamous 3- 000s are a double edged sword , removing that currency class from circulation and simultainiously deleting the 3- 000s from the nominal rate making the new rate .85555 or so

Edited January 8, 2011 by estephan

[Doctor Smith]

Yes. It could be a screw up. Cause if you change the Dinar too trillion instead of billion and then Divide it by the US Dollar amount you get the same exchange that they have had for quite some time.

[GrahamB]

More LOP talk.

I suggest you re-educate yourself on the concept of LOP!

LOP refers to a devaluation process that sees an exchange of NID25,000 notes for NID25.00 notes (or equivalent). If Iraq, which has run budgets in the same range of values (around NID100BIllion) in the past, was to LOP their currency then their budget would suddenly become a 100 Million Budget! The fact that it is retaining a rough equivalency in NID suggests that any change in value vis-a-vis the USD is NOT a LOP, but a revaluation. The fact that the values shown suggests a value of NID 1.00 = USD 0.8559 happens to be a value that works just as well for a sensible RV as it does for the unwanted, and in my view politicaly unacceptable (from Mohamed (Joe) Iraqi's standpoint) LOP.

The value tells you nothing, but the size of the Budget says a lot!

Go RV. USD 0.8559 works well for me!

[Uncle Barkie]

It's great to want this , but Keep is correct ! The budget is 93 trillion not billion... and then if you do the calculations that way it comes out to ( roughly ) 1168 IQD = $1 USD.

Sorry to burst any bubbles cuz I want this as much as anyone else .

Uncle Barkie

Edited January 8, 2011 by Uncle Barkie

[dirtman_00]

It's great to want this , but Keep is correct ! The budget is 93 trillion not billion... and then if you do the calculations that way it comes out to ( roughly ) 1168 IQD = $1 USD.

Sorry to burst any bubbles cuz I want this as much as anyone else .

Uncle Barkie

I would like to read that artical if you would give me a link to the budget saying 93 trillion budget.

[onerighthand]

Just curious. What math did you do to get that rate? Thanks!

hahaha! Your all wrong. I got 18.72 dollars per dinar, but then again I didn't do well in math

I don't care what it is, I'll take it as a base point. Over a dollar and I am a million air? Good enough for me after a few months of sweat and blood (shot Eye balls)

Go RV Go

[Rogue Knight]

I suggest you re-educate yourself on the concept of LOP!

LOP refers to a devaluation process that sees an exchange of NID25,000 notes for NID25.00 notes (or equivalent). If Iraq, which has run budgets in the same range of values (around NID100BIllion) in the past, was to LOP their currency then their budget would suddenly become a 100 Million Budget! The fact that it is retaining a rough equivalency in NID suggests that any change in value vis-a-vis the USD is NOT a LOP, but a revaluation. The fact that the values shown suggests a value of NID 1.00 = USD 0.8559 happens to be a value that works just as well for a sensible RV as it does for the unwanted, and in my view politicaly unacceptable (from Mohamed (Joe) Iraqi's standpoint) LOP.

The value tells you nothing, but the size of the Budget says a lot!

Go RV. USD 0.8559 works well for me!

The actual LOP is not bad in theory as far as" lopping"(origin of term) the zeros this entire post has been about what has been posted thousands of times here on DV.(yawn). I suggest that you not assume others intelligence, education or knowledge when a statement is made rhetoically. Another case of contempt prior to investigation....

[estephan]

I suggest you re-educate yourself on the concept of LOP!

LOP refers to a devaluation process that sees an exchange of NID25,000 notes for NID25.00 notes (or equivalent). If Iraq, which has run budgets in the same range of values (around NID100BIllion) in the past, was to LOP their currency then their budget would suddenly become a 100 Million Budget! The fact that it is retaining a rough equivalency in NID suggests that any change in value vis-a-vis the USD is NOT a LOP, but a revaluation. The fact that the values shown suggests a value of NID 1.00 = USD 0.8559 happens to be a value that works just as well for a sensible RV as it does for the unwanted, and in my view politicaly unacceptable (from Mohamed (Joe) Iraqi's standpoint) LOP.

The value tells you nothing, but the size of the Budget says a lot!

Go RV. USD 0.8559 works well for me!

Nice snag GrahamB !!! If you play Baseball you could have a 100 million budget too!!

[AudiS4]

Ok someone tell me why everyone keeps talking about a LOP? I'd be more understanding if everyone had a weird fetish for always mentioning naked cabbage patch kids in every post. A LOP ABSOLUTELY WILL NOT HAPPEN. GET OVER IT. If anything they will RAISE the large bills. that's it! No Lop. Got it? No Lop.

[freaky frank]

I get .855 , but it also says that they will also have a budget deficit of 12 billion dollars, this could mean that when the rv comes out it might be higher to cover the loss.......just saying.

[tjmunson]

Kumbaya, my Lord, kumbaya;

Kumbaya, my Lord, kumbaya;

Kumbaya, my Lord, kumbaya;

Oh, Lord, kumbaya.

Someone's cryin', Lord, kumbaya;

Someone's cryin', Lord, kumbaya;

Someone's cryin', Lord, kumbaya;

Oh, Lord, kumbaya.

Someone's singin', Lord, kumbaya;

Someone's singin', Lord, kumbaya;

Someone's singin', Lord, kumbaya;

Oh, Lord, kumbaya.

Kumbaya, my Lord, kumbaya;

Kumbaya, my Lord, kumbaya;

Kumbaya, my Lord, kumbaya;

Oh, Lord, kumbaya.

Kumbaya.

[estephan]

That beautiful rendition of the classic Folk song Kumbaya Has been brought to you by our good friends at Nabisco,Monsanto,DuPont,General Motors,and of Course RJ Reynolds , Proceeds go to the Ford Foundation! Shout out to Consolidated Edison and the Rothchilds !! Smooch smooch!

[Action316]

Smoke... more i look in2 all the intel and factz only way it would come in this low would be 2 get many 2 cash out.... if this is no typo and it did come that low i would cash in no more than 25% of my dinar and hold on 2 rest till it was closer 2 the 3+ range... SMOKE/TYPO

[AudiS4]

same. Just enough to make a nice profit and cover what i've put into it. I'm thinking $50k USD would make a somewhat happier day out of a sad day of "this stuff aint worth anything anymore"... if that ever happened

[millionair]

Please read the artical and check my math

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.swalefnalhelwa.com/news.php%3Faction%3Dview%26id%3D1002&rurl=translate.google.com

The Iraqi government has approved the draft federal budget law for fiscal year 2011, so inform the budget some 93 billion Iraqi dinars (79.6 billion dollars), when calculated per barrel to $ 73 U.S., and the rate of export of 2.25 million barrels per day.

If you devied 79.6 into 93 you get 1.16 so it looks as if 1.16 dinars = 1 USD

We need to understand that it needs to be at around the same in value as the Kuwaiti dollar. So I would have to say it will RV very close to $3.00 US to there $1.00. They have to come close to that to compete with the surrounding countries or they will go in the HOLE. Just a thought.

[dirtman_00]

Smoke... more i look in2 all the intel and factz only way it would come in this low would be 2 get many 2 cash out.... if this is no typo and it did come that low i would cash in no more than 25% of my dinar and hold on 2 rest till it was closer 2 the 3+ range... SMOKE/TYPO

I would get me out enough to pay off all my bills / put a little change in my acount and wate to see what happens.

[aferriss]

I know that once this thing RVs...it will be what it will be and hopefully we will all be happy and better off. What concerns me more is what's going to happen with OPEC. If OPEC is funding approximately 95 percent of the Iraqi budget (if I read that correctly in the article), then what are our fuel prices going to be like after we RV? It's great that we will all have money, but how is this OPEC financing thing going to affect us and the world? American gas prices are already increasing and other places around the world cost an awful amount for fuel. This is sure to affect many economies and our pocket books.

[AudiS4]

I believe Iraq is like 9th in line for where the USA gets their oil... so hopefully the prices dont adjust much at all

[maulim]

People, Shy is right on the money, come out low and draw in all the Dinar from the money graggers until they reach an amount that deem doable before the rate goes up anymore. Once tier is met, they 'll rise the rate again, again and again untill the amount that is still out does not matter anymore. If Iraq were to come out at a 3.00 + rate they would lose 100's of Billions. Not going to happen in this life time. What would you do, think about it, it is common "CENTS" people. Do you not think they are a little smarter than to throw away 100's of Billion!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Chill, we will make alot on our investments, cash in a little and hold on to the rest for as long as you can. Don't listen to the BS on the rates. Iraq could cut a deal with the IMF on the exchange, but as long as Kuwait hold 100's of Billion's of Dinar, there will not a high rate to open. Iraq owes Kuwait 22 Billion Dollars yet, so think what rate would pay them off? That is what I would do if I were Iraq!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[EBIInvest]

How can a country so rich in resources open at such a low rate? Im sorry but im sticking with my gut... $3.22 or higher. Look at the history of the currency..

Now COME ON IRAQ!! GET IT DONE BABY!

Sorry but no way on that . . . as much as I would love that there is just no way they can just overnight RV at $3.22. They would go broke with everyone cashing in. I don't care how much oil they have. It has to be a gradual increase. Starting low and increasing gradually. Of course that's just my opinion but that's all this site is made up of. . . opinions.

[christianforlife]

I have read articles today having the RV coming in between 5.27 (TK's article) and 4.62 (lady from Chase bank who has a source with Formex Currency) and then 3.50 in a third article. NO WAY WILL IT COME IN AT .86 Remember Iraq owes Kuwait (rv'd at 3.21) and Kuwait wants the RV to come in 45 cents higher or lower, and Ali (Dinar Trade) has asked for 3.22 plus 20%. Don't try to figure off of oil. I heard on a conference call that Iraq has enough oil to RV at 14.00. Of course that won't happen....but even if the RV comes in low-balled the first time it won't be under 2.00.

[rocketman2010]

DOES THIS MEAN 1 DINAR EQUALS .86.

WHAT DOES IT MEAN?

وكانت الحكومة العراقية قد وافقت على مشروع قانون الموازنة الاتحادية للسنة المالية 2011، بحيث تبلغ الموازنة نحو 93 مليار دينار عراقي (79.6 مليار دولار)، وذلك عند احتساب برميل النفط الواحد بـ 73 دولارا أميركيا، وبمعدل تصدير قدره 2.25 مليون برميل يوميا. The Iraqi government has approved the draft federal budget law for fiscal year 2011, so inform the budget some 93 billion Iraqi dinars (79.6 billion dollars), when calculated per barrel to $ 73 U.S., and the rate of export of 2.25 million barrels per day.

ويتوقع ان يبلغ عجز الموازنة نحو 14 مليار دينار (نحو 12 مليار دولار) فيما يتوقع أن يبلغ معدل الإنفاق 64 مليار دينار (نحو 54.70 مليار دولار). It is expected that the budget deficit to reach about 14 billion dinars (about $ 12 billion) in what is expected that the rate of spending 64 billion dinars (54.7 billion dollars).

http://translate.google.com/translate?js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&sl=ar&tl=en&u=http%3A%2F%2Fwww.swalefnalhelwa.com%2Fnews.php%3Faction%3Dview%26id%3D1002