Revaluation Process

[Rocky2]

To have its currency revalued, Iraq must submit a request to the IMF and World Bank for revaluation of its currency and give them a desired rate. Iraq also has to submit 2009 and 2010 financial reports and their approved budget for 2011. After the IMF and World Bank review the information they will either approve or disapprove Iraq's request. If they disapprove, they will tell Iraq what rate they will approve and why. If they approve the request, then it will be published on the UN Treasury Opertional Rates of Exhange site on a scheduled date with an effective date of the rate change following a few days later. The Publishing Date for changes in the Rates of Exchange in Jan 2010 are Jan 12 and Jan 28. The subsequent Effective Dates for the Rate of Exchange are Jan 14 and Feb 1, 2010.

No new rates for any of the world's 220 currencies were published on Jan 12. The Iraqi Parliament will see the new revised budget for the first time tomorrow, Jan 13. Therefore the earliest that a change in Iraq's rate of exchange can occur will be Feb. 1, 2010. Also several protocols must be passed by the Iraqi Parliament to officially have the UN sanctions lifted therefore allowing a rate change.

We have no choice but to wait until Jan 28 and see if Iraq can meet all that is required for a rate change. Prayer can also be a big help. Best Wishes to All.

[paulp67]

UMMMMM "scratching head" it's 2011!!!!!!!!!

[Rocky2]

Sorry, you are right. The dates for Jan and Feb should be 2011.

[rcrge]

To have its currency revalued, Iraq must submit a request to the IMF and World Bank for revaluation of its currency and give them a desired rate. Iraq also has to submit 2009 and 2010 financial reports and their approved budget for 2011. After the IMF and World Bank review the information they will either approve or disapprove Iraq's request. If they disapprove, they will tell Iraq what rate they will approve and why. If they approve the request, then it will be published on the UN Treasury Opertional Rates of Exhange site on a scheduled date with an effective date of the rate change following a few days later. The Publishing Date for changes in the Rates of Exchange in Jan 2010 are Jan 12 and Jan 28. The subsequent Effective Dates for the Rate of Exchange are Jan 14 and Feb 1, 2010.

No new rates for any of the world's 220 currencies were published on Jan 12. The Iraqi Parliament will see the new revised budget for the first time tomorrow, Jan 13. Therefore the earliest that a change in Iraq's rate of exchange can occur will be Feb. 1, 2010. Also several protocols must be passed by the Iraqi Parliament to officially have the UN sanctions lifted therefore allowing a rate change.

We have no choice but to wait until Jan 28 and see if Iraq can meet all that is required for a rate change. Prayer can also be a big help. Best Wishes to All.

LINK?

[SGsupreme]

ArabMoneyV, thats the funniest thing I have ever seen on here.

[Darin]

I thought it was all dependent on the CBI.....

Just the rest of the world has to "approve" before it will be a nationally recognized currency....

Jus say'n, my .02

[RVDinar4MyFamily]

The Operational Rates of Exchange listed herein are intended only for the internal record-keeping of the United Nations. No warranty of accuracy can be given and the United Nations shall not assume any responsibility in connection with the present publication of these rates. Generally, the rates are updated monthly, based on market conditions. Adjustments are also made following official government devaluations or revaluations.

https://treasury.un.org/operationalrates/Default.aspx

It does not have to be on the 15th or 30th, it can be done anytime during the month, the normal updates are done on the 15th and 30th, but that does not mean it has to be done on those dates

[brencorp]

I understand the the date mistake because sometimes when people type they can make mistakes so where i s the link to support that ?

[katshamm]

The comments are about an easy 2010 /2011 date issue vs the non confirmed information? omg wake up and challange whats reality vs BS