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ggdog60

Is this XE page telling this newbie the LOP is a defininite thing

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It seems that this second paragragh is telling me my investment will be a lot smaller than others are saying it will be

If this is true, why is everyone saying we are going to all be millionaire!

I'm confused and worried

Does anyone have any insight on this page?

Thanks :blink:

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

IQD - Iraqi Dinar

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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."

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What about all of the articles from the iraqi government that say they are not going to do this. Anyways...check out the lop forum. There is a bunch of good stuff on why a lop can't happen

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It seems that this second paragragh is telling me my investment will be a lot smaller than others are saying it will be

If this is true, why is everyone saying we are going to all be millionaire!

I'm confused and worried

Does anyone have any insight on this page?

Thanks :blink:

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

IQD - Iraqi Dinar

More 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."

This is old news. Whether or not it actually means a LOP I am unsure. I do know however, that the CBI and GOI stated some time back that they plan to drop the zeros to ease the Iraqi's daily lives though the end of 2010 has come and gone and nothing has been done.

More than likely, it's just the last OFFICIAL news ANYONE has heard about the IQD... which just goes to show ya even more that the gurus are as clueless as we are.

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

If my newbie self isn't reading this wrong, I would have 1,000 times the amount of USD upon cash-in that I have now. Right?

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This is old news. Whether or not it actually means a LOP I am unsure. I do know however, that the CBI and GOI stated some time back that they plan to drop the zeros to ease the Iraqi's daily lives though the end of 2010 has come and gone and nothing has been done.

More than likely, it's just the last OFFICIAL news ANYONE has heard about the IQD... which just goes to show ya even more that the gurus are as clueless as we are.

Exactly rdubya... Notice where it states, "By the end of 2010" in your posting ggdog60?!? Unless, you're Marty McFly or Doc Brown(or maybe Phil Connors), 2010 ended 11 days ago... So unless there's an update to that, I'd say don't worry about it...

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if they actually took it from the perspective of 25000 becomes 25 dinar then 50 would become .05. Further you could then multiply that by 3 plus and have an overall 3x roi. The problem with that is that that reaps havoc on the currency. Its much easier for them to just take large notes out of circulation and put out a new rate no matter if its a rate of .01 or .1 or .86.. The other thing is you can't fool the numbers no matter how they or we think it will all juggle. Its at 1170 now or .00086 that is a fact no matter how you want to readjust your denominations. That said my point is if they did all that complicated juggling and rv to 3 after making 1000 dinar to 1 dinar, the rv would still be .0026.

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I'm so confused and depressed....... :(

Dont be. What you've read from the xe website is speculation. Nothing more, nothing less. I personally believe that they are wrong for putting that on their website. It's information that is a pure prediction of what might happen. Also, on the website, it says "by the end of 2010". That has come and gone. They are already wrong with their prediction of what could have happened. I'm not saying a lop can't happen (although I personally believe it will not happen), but as far as that statement xe.com made...disregard it. Its old news and in my eyes has been de bunked when the clock hit 12 on new years eve.

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Welcome to the forum ggdog60! I hope you enjoy your stay. The xe.com notice has been rehashed over and over again on this forum. Feel free to use the search function to find out more information about it. I'm going to go ahead and close this thread since we already have plenty of threads discussing this issue.

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