Dinar News Lopping of zeros

[mrref]

A lot has been said about the lopping of zeros is a bad thing, let me try to clear this up. First remember, a lopping of zeros off bank notes is a function of Devaluation. We are looking at a Revaluation. A DV and a RV cannot happen at the same time. The big confusion about zeros are that zeros will lopped off of the exchange rate, not the bank note. Its an entirely different concept. Removing zeros from an Exchange rate and moving the decimal point from the left to the right is a Revaluation. Moving the decimal point from the right to the left is a devalution. Example: 0.0001 dinar per dollar, now lets remove 2 zeros, now it becomes 0.01 per dollar and that would be a RV of 100Xcurrent value. I'm sure there will be people that will disagree with me on this, but I spoke to several bankers and this is how they explain it to me. Lets hope they are right.

[kamm]

Thanks I hope they are right. I guess we will have to wait and see.

[sonny1]

A lot has been said about the lopping of zeros is a bad thing, let me try to clear this up. First remember, a lopping of zeros off bank notes is a function of Devaluation. We are looking at a Revaluation. A DV and a RV cannot happen at the same time. The big confusion about zeros are that zeros will lopped off of the exchange rate, not the bank note. Its an entirely different concept. Removing zeros from an Exchange rate and moving the decimal point from the left to the right is a Revaluation. Moving the decimal point from the right to the left is a devalution. Example: 0.0001 dinar per dollar, now lets remove 2 zeros, now it becomes 0.01 per dollar and that would be a RV of 100Xcurrent value. I'm sure there will be people that will disagree with me on this, but I spoke to several bankers and this is how they explain it to me. Lets hope they are right.

i like were your heads at

[warrengz]

NOW ur starting to get it! FINALLY!!! Come on RV!

[sarah77]

This is a reinstatement of value not a revalue,riririri

[allooh]

Example: 0.0001 dinar per dollar, now lets remove 2 zeros, now it becomes 0.01 per dollar and that would be a RV of 100Xcurrent value. I'm sure there will be people that will disagree with me on this, but I spoke to several bankers and this is how they explain it to me.

This example is a DV of the Dinar.

$1=.0001 IQD one Dollar buys one 10 thousandth of a Dinar

$1=.01 IQD one Dollar buys one hundredth of a Dinar

This says that now I can buy more Dinar with the same Dollar

Then the Dinar is now cheaper to buy.

If you switch the currencies in this example then it becomes a RV.

[lancer22]

This is a reinstatement of value not a revalue,riririri

Sarah you can't reinstate a currency that no longer exists. The Swiss dinar went away in 1990. The NID was born in 2003. It has a new value created by the CBI. It can only Revalue or Devalue. as always IMHO

[tabi]

Example: 0.0001 dinar per dollar, now lets remove 2 zeros, now it becomes 0.01 per dollar and that would be a RV of 100Xcurrent value. I'm sure there will be people that will disagree with me on this, but I spoke to several bankers and this is how they explain it to me.

This example is a DV of the Dinar.

$1=.0001 IQD one Dollar buys one 10 thousandth of a Dinar

$1=.01 IQD one Dollar buys one hundredth of a Dinar

This says that now I can buy more Dinar with the same Dollar

Then the Dinar is now cheaper to buy.

If you switch the currencies in this example then it becomes a RV.

You have it backwards.

If you look at it as US money you have .01 cents/ you have .25 cents wich is worth more? Of course! The quarter is! Well, if you have .001cent wouldn't you agree this is worth way less than a penny? Say a thousand times less than a penny.

You can buy more IQD at .0001 for a dollar but, that doesn't mean it's worth more than a dollar!

This is the exact reason we all want it to RV!

[Wayne & Leah High]

sarah77, wouldn't a RI be a GREAT thing?

[Wayne & Leah High]

Isn't a RI what they did with Kuwait?

[armondtoth]

You are correct, I was wondering how long it would take someone else to realize this.

[tabi]

Yes, I Think an RI would be great!! Some one said it can't happen because the currency is "new IQD"

Is it really officially called New Iraq Dinar or is it still just called Iraq Dinar? I thought it was just a new look to remove Sadam!? We have new bills and we didn't change the official name to "New USD".

[ALAN EDWARDS]

Right that makes the rate now=0.86 ???

[ritman15]

after a year of endorsing NID,that was 2003.it was instated that apprciated of 25% already .means the value of IQD is already a quarter/.25 cents.from 1150/US x .25%==the real face value from my opinions of calculations

[ritman15]

will get $2.85 from 1150/$1.00