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"Raising Zeros"

dinarspeculator1
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dinarspeculator1 Newbie

dinarspeculator1

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Denied the Chancellor at the Central Bank the appearance of Mohammed Saleh, on Saturday, reports that spoke about the issuance of currency from the category of one hundred thousand dinars.

Saleh said in a press statement, the Bank sought and within the monetary policy used to maintain the economic stability of the country and access to low level and moderate prices, which is contrary to the allegations of issuing currency of the class hundred thousand dinars.

The Chancellor confirmed that the central bank plans to raise zeros from the denominations that exist.

Can someone explain this to me? Looks like the 25,000 notes will become worth 25 dinar.

Edited by dinarspeculator1
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dinarspeculator1 Newbie

dinarspeculator1

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from another article I found:

"The Central Bank of Iraq that he was serious in the application of deleting three zeros from the national currency in the near future.

Bank adviser said the appearance of Mohammed Saleh, said that it depends at the present time to form the next Iraqi government and parliament two new Siokman on them, determining the mechanism under which the application of the deletion of zeros from the Iraqi currency.

The question being debated extensively about the success of this step in improving the Iraqi economy, says Chancellor valid in an interview with Radio Free Iraq that the deletion of zeros will contribute to reduce the size of inflation and reduce the size of the money supply in the Iraqi market of 26 trillion dinars to approximately 25 billion dinars, indicating that the Kurdish language to be added to the new currency as well as Arabic and English.

The consultant said the benefit that many of the money circulating in the Iraqi market has led to a confusion in trading large, the work of banks, noting that deleting three zeros from the Iraqi dinar will lead to reform of the system management of the national currency and thus improve and revitalize the Iraqi economy.

However, the economic expert, Salim al-Jubouri varies with the central bank adviser believes that the deletion of zeros from the Iraqi currency will not necessarily lead to improved national economy, but on the contrary may cause additional confusion in the local market, calling at the same time the Iraqi government to go to support market stability and the national currency rather than replaced with a new value and other currency."

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gtm Newbie

gtm

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http://translate.google.com/translate?hl=en&sl=ar&u=http://www.iraqhurr.org/content/article/2107013.html&ei=U01ITN7kFdCJnQeQxrjiDQ&sa=X&oi=translate&ct=result&resnum=1&ved=0CDMQ7gEwAA&prev=/search%3Fq%3D%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%2B%25D8%25A7%25D9%2584%25D8%25AF%25D9%258A%25D9%2586%25D8%25A7%25D8%25B1%2B%25D8%25A7%25D9%2584%25D8%25B9%25D8%25B1%25D8%25A7%25D9%2582%25D9%258A%26hl%3Den%26client%3Dfirefox-a%26sa%3DX%26tbo%3D1%26rls%3Dorg.mozilla:en-US:official%26tbs%3Dqdr:d
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dflake Newbie

dflake

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RVDinar4MyFamily

If I understand this,

"deletion of zeros will contribute to reduce the size of inflation and reduce the size of the money supply in the Iraqi market of 26 trillion dinars to approximately 25 billion dinars"

26t / 1000 = 26b ( dropping 3 zeros )

26b x .0.96....... = 25b

25b / 26t = 0.9615.............

This is in IQD, in other words this is stating they are deleting the 3 zeros and devaluing the dinar. This is Re-denomination.

Please note that this is just an internal change, not a exchange rate against any other currency.

Sorry, just reading the posted article.

Edited by dflake
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dinarspeculator1 Newbie

dinarspeculator1

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tenente14,

No need to be so rude about a re-post. Had I known that this was covered already, I would not have posted it. Maybe you should get a life and find things more important to get upset about than a re-post on a forum on the internet. As abstract as this sounds, some people have lives and don't read a forum 24/7 to look at prior topics. If I have a question, I'll ask. If you have nothing constructive to say then get out of my thread.

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araiderfan Newbie

araiderfan

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oh...how about those who joined TODAY try to do some research before posting. It will really show just how smart everyone is. Lets not flood this place with random "thoughts."

Wow, no need to be a ****, first of all your barely a member a month, and second of all he wasnt flooding anywhere with random thoughts, although there is in fact a place dedicated to lops, how about being helpful and directing a fellow investor to the correct place to research, why is it that you and others feel the need to be so f'ing negative all the time! Is it that bashing others makes you and other people like you feel better about their baby pee pees? Or is that your daddy didnt love you enough so you feel that the only way you can express yourself now is through randomly being an a@@ to fellow DVers? in any case next time you want to bash anyone maybe you should think before your speak, or better yet, just dont speak at all.

Seriously... Moderators ought to just archive all of these articles and make all newbies read them all over and over, for a month straight! So we never have to read this again......

Seriously ... Moderators ought to just tell people that if you dont want to read an article on the same subject over and over again, just skip it an move on.

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gman51 Newbie

gman51

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tenente14,

No need to be so rude about a re-post. Had I known that this was covered already, I would not have posted it. Maybe you should get a life and find things more important to get upset about than a re-post on a forum on the internet. As abstract as this sounds, some people have lives and don't read a forum 24/7 to look at prior topics. If I have a question, I'll ask. If you have nothing constructive to say then get out of my thread.

Come on guys, lets play nice. Take a deap breath, and think about what you are saying. You are right about one thing, it is so unnecessary to resort to putting people down to make a point. When that is done, nobody sees your point of view, they just go into "protect mode", and they don't even care what was said about the topic. Take a chill pill tenente14. You haven't always known what you know now. People have a right to ask questions, no matter how many times it has been asked. If that bothers you don't read the post. This site is free. You don't pay a penny for it. If the mods let it ride, you should also.

Edited by gman51
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JBDinar Newbie

JBDinar

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Can someone explain this to me? Looks like the 25,000 notes will become worth 25 dinar.

Does anyone have time to "start over"? Does anyone spend time reading anything on this board before they just sprint to the "Post New Topic" button? Sheesh!

Edited by JBDinar
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