In The News

[Rushman]

I have two "points" 1: why would they make the 25000 dinar notes into 25 notes? They already have a 25 dinar coin. What is the big gain from that? And 2: if they do "remove" the three 0's from the note (where does it say they are removing the three zeroes from just the 25000 note) are the zeroes just going to magically disapear? Or when we cash in they just are practically worthless?. I just dont see what they have to gain from all this. Besides screwing all of us over.

[hakunamatata80909]

Again like so many. I think it may start out lower and gain over time, but not to long of a time.... Go RV

[Niko]

LINK PLEASE!

link to article

http://dinarvets.com/forums/index.php?/topic/62319-the-central-bank-about-to-put-the-final-touches-on-the-draft-to-three-zeros-of-the-iraqi-dinar/

Edited April 13, 2011 by Niko

[keepmwlknfny]

The article stated taking three zeros OFF the CURRENCY. Isn't that the money? The PHYSICAL money?

They never mentioned exchange rates. Just currency.

The article is at the top of the news section for link people.

Yep.....it always mentions just the currency....NEVER heard it mention the exchange rate, and I have never ever ever read where a country proclaimed they were deleting the zeros, removing the zeros, raising the zeros and they were talking about ONLY the exchange rate.......

[jaminjimmy90]

Alsumaria News / Baghdad

Central Bank of Iraq, on Tuesday, he is about to finish the project raise three zeroes from the currency, noting that the project is considered strategic, and submitted to the Council of Ministers and legislators if completed.

The central bank adviser said the appearance of Mohammed in an interview for “Alsumaria News”, “The draft raise three zeros from the dinar is a strategic project and the Central Bank is in the process of finalizing the project, the idea of ​​theory into practice, and is nearing completion, and submitted to the Council of Ministers and House of Representatives. “

The benefit, “This project will reduce the cost of transactions and reduces the carry cash,” adding that “Iraq is on the verge of producing 6 to 12 million barrels of oil and this will impact on the development and raise the value of the Iraqi dinar.”

The adviser to the CBI that “the Bank has achieved three things during the last stage, as the first building reserves from zero to $ 50 billion, within the past five years, reduce the price of the basic inflation from 34% to 4 or 3%, and achieved stability in the Iraqi dinar exchange “.

He was adviser to the CBI the appearance of Mohammed Saleh, said in an interview earlier “Alsumaria News”, the bank’s readiness to delete the zeros of the Iraqi currency, pointing out that those zeros that are added to the Iraqi currency during the last period formed a cluster of large cash amounted to 27 trillion Iraqi dinars.

On the other hand, revealed adviser to the CBI, that “Iraq enter for the first time a system of payments between banks has been the transition to electronic clearing away from the hand and entered into by the six banks and the exchange of instruments between banks electronically and will link the smart card and credit system with the central bank.”

Continued by saying that “the central bank would be three years after the so-called Council of the payments, which sets protocols and is the infrastructure of Iraq.”

Previously, specialists Iraqis in the field of economics that played down the impact of the central bank to delete zeros from the currency the purchasing power of the Iraqi dinar, also hopes the government from behind the move, as the view of researchers that the cost of lifting of the zeroes will be the biggest of its usefulness, given that the currency’s strength is measured by the stability of disbursement which is based on the strength of the productive sector can provide goods and services.

already posted but thanx again

Yep.....it always mentions just the currency....NEVER heard it mention the exchange rate, and I have never ever ever read where a country proclaimed they were deleting the zeros, removing the zeros, raising the zeros and they were talking about ONLY the exchange rate.......

think yur right lets hope so go RV this month pleaselol

[elmstreet61]

well if its off the currency does that mean we will have to exchange the dinar we have to get smaller bills or will they still cash them as 25000 notes?

Still cash them in as you have them. they will allow for BOTh big notes and their eqivalent lopped notes to be traded at the same time, until the old big notes go out of circulation naturally.

well if its off the currency does that mean we will have to exchange the dinar we have to get smaller bills or will they still cash them as 25000 notes?

Still cash them in as you have them. they will allow for BOTh big notes and their eqivalent lopped notes to be traded at the same time, until the old big notes go out of circulation naturally.

I have two "points" 1: why would they make the 25000 dinar notes into 25 notes? They already have a 25 dinar coin. What is the big gain from that? And 2: if they do "remove" the three 0's from the note (where does it say they are removing the three zeroes from just the 25000 note) are the zeroes just going to magically disapear? Or when we cash in they just are practically worthless?. I just dont see what they have to gain from all this. Besides screwing all of us over.

please refer to the IRAQ & DINAR NEWS story about "finishing final touches....' all your answers are there....new-ish post so check it out now...

[echo0marie]

.86 is basically what I have been anticipating, I wanna see this thing go now!!!

[dinariac]

That's it I'm pretty much sick up and fed with the way you peeps come up with .86 all the time. Raising ( should be spelled - razing) the zeroes does NOT mean removing the three zeroes off of the nominal value of .00086 Everything is lost in translation like with the word "raising". When they talk of removing the zeroes, they mean the bills with the three zeroes (i.e. - 25,000/10,000/5,000/1,000) Remember, this is Iraq, their national currency is the "New Iraqi Dinar" which has a nominal value of $ .00086 to the US dollar. Removing the zeroes has nothing to do with the value of $ .00086 which is the US equivalent. Have I said it enough already 'Nuff said -

RRRRVVVVVVVVV T T T T T T T T T I I I I I I I I I M M M M M M M E E E E E E E E :woot:

[dinariac]

That's it I'm pretty much sick up and fed 'Nuff said -

AND, REMOVING THE ZEROES DOES NOT MAKE A 25,000 DINAR NOTE WORTH 25 DINAR, SO GET THIS S**T OUT OF YOUR HEADS. WHEN THEY REVALUE THEIR CURRENCY, THEY WILL NO LONGER NEED THE LARGE NOTES WITH THE THREE ZEROES JUST LIKE THE UNITED STATES NO LONGER USES THE $1,000, $5,000, OR, $10,000 NOTES ANY LONGER..................

[debratzz]

That's it I'm pretty much sick up and fed with the way you peeps come up with .86 all the time. Raising ( should be spelled - razing) the zeroes does NOT mean removing the three zeroes off of the nominal value of .00086 Everything is lost in translation like with the word "raising". When they talk of removing the zeroes, they mean the bills with the three zeroes (i.e. - 25,000/10,000/5,000/1,000) Remember, this is Iraq, their national currency is the "New Iraqi Dinar" which has a nominal value of $ .00086 to the US dollar. Removing the zeroes has nothing to do with the value of $ .00086 which is the US equivalent. Have I said it enough already 'Nuff said -

RRRRVVVVVVVVV T T T T T T T T T I I I I I I I I I M M M M M M M E E E E E E E E :woot:

I TOTALLY AGREE!

[coldwarvet]

I don't think anyone on this forum knows for sure what the term "raising the zeroes" means. The translation is very obscure and vague. Could it mean .00086 to .86? Maybe. Could it mean 25,000 to 25? No one on this forum knows, and the CBI won't tell until it happens. We can only guess, and hope. GO RV!

[zul]

Yep.....it always mentions just the currency....NEVER heard it mention the exchange rate, and I have never ever ever read where a country proclaimed they were deleting the zeros, removing the zeros, raising the zeros and they were talking about ONLY the exchange rate.......

there was never ever any other country like Iraq before...

That's it I'm pretty much sick up and fed with the way you peeps come up with .86 all the time. Raising ( should be spelled - razing) the zeroes does NOT mean removing the three zeroes off of the nominal value of .00086 Everything is lost in translation like with the word "raising". When they talk of removing the zeroes, they mean the bills with the three zeroes (i.e. - 25,000/10,000/5,000/1,000) Remember, this is Iraq, their national currency is the "New Iraqi Dinar" which has a nominal value of $ .00086 to the US dollar. Removing the zeroes has nothing to do with the value of $ .00086 which is the US equivalent. Have I said it enough already 'Nuff said -

RRRRVVVVVVVVV T T T T T T T T T I I I I I I I I I M M M M M M M E E E E E E E E :woot:

so..whoever owns IQD50 now...will worth more than the IQD25000 in the near future?

[txk9popo]

If it hits .86 are you going to cash in right away? or wait it out seeing as multiple sources have said it is going to RV way lower than wanted but gradually increase once more is cashed out.?

If this comes in at .86 and Ali's ready to cash me out, YOU BET. Too many things could go sour and then end up with nothing. I for one will not be greedy. We all have different opinions on what "lifting the 3 zero's off the value" is, but my opinion is taking away the zero's on the value of .00086. , which would leave the .86. I could definitly live with that and never look back. Had enough of Sources to last a lifetime.

[Mrgrizz44]

If you give me $0.86 per dinar right now I will run to the bank in my underwear to cash all my dinar!!

Well I hope we dont get arrested for streaking cause I'd sell out also.

[Michael Villane]

But what people are saying, I think at least they would make it even at 1 to 1. But really nobody knows, we will just have to sit back and wait......