Are the 50 dinar notes still a good currency?

[BMO]

1 dinar has to equal 1 dinar. What will they do with the smaller 50 dinar notes.

[TexaSwa]

50.00 will become .05 exchange rate... 1170.00 will become 1.170. No net gain or loss. "Dropping zeros" is actually moving a decimal point.

[Scooter39]

The 50 dinar notes will be rendered useless. Send them to me and i'll gladly dispose of them for you at no charge.

[dadox]

this one is good .... scooter39:rolleyes:

[TexaSwa]

The 50 dinar notes will be rendered useless. Send them to me and i'll gladly dispose of them for you at no charge.

Close, per the plan outlined in the article they will be worth .05 IQD. Just as your 25k note will be worth 25 IQD. 1 IQD will be worth roughly 1.17.

[stlou]

Close, per the plan outlined in the article they will be worth .05 IQD. Just as your 25k note will be worth 25 IQD. 1 IQD will be worth roughly 1.17.

Given the scenario you just described, that would spell disaster for the Iraqis. Removing the zeros simply means removing them from circulation..only to be used for interbanking transactions. Given what you explained, you have reduced the 25000 dinar note to 25, but increased the 1 dinar note to 1.17 USD.

[Scooter39]

Close, per the plan outlined in the article they will be worth .05 IQD. Just as your 25k note will be worth 25 IQD. 1 IQD will be worth roughly 1.17.

Not sure where your getting your info, but is not exactely correct. The 50 dinar note will be worth around 75 USD after the RV/Redenomination.

[TexaSwa]

I thought he was talking about an "old" 50 dinar. I dont think they exist.

STLOU,

25000 iqd at 1170 per dollar becomes 25 iqd at 1.17 per dollar. The value of the individual dinar increases. The number of dinar represented by a note decreases. Total value stays the same.

[mmmcgee1]

Time will tell.

[WIGO]

The 50 Dinar notes are STILL and WILL be a good currency.