The dinar's value will remain unchanged, he said.

[caddieman]

I don't know what to believe now.

I have read the articles droppoing the zero's and phasing out the current form of currency. But this is the first time I have seen anything saying they were not going to go this. Does anyone have any current articles backing up the currency will remain the same?

Here ya go.

http://ph.news.yahoo.com/rtrs/20100211/tbs-iraq-currency-955c2a1.html

[Quart]

Caddieman, I don't know if your response was a rebuttal or not. My point is that, if the value remains the same (ie., $1=1170 dinar), the Iraqis will now need one thousand notes of 25 dinar currency to equal the one 25,000 note they carried formerly.

[wilecoyote]

As Ronald Reagan once said, "Well,,,,, there you go again Nancy", and, "where would this country be without this great land of ours".

Why are we talking about this again????

[Quart]

PS: If a revaluation occurs at the same time- which is not mentioned in the article and is, therefore, something that cannot be assumed-, then of course your scenario is right, caddieman. Let's see how it works out.

[DansMBC]

No RV UNTIL SPRING.... I'm Glad I Don't Have All My Eggs In ONE BASKET........

[ringer1]

Here ya go.

http://ph.news.yahoo.com/rtrs/20100211/tbs-iraq-currency-955c2a1.html

Thanks, I have seen this artlce but I have not seen anything where anyone denying this would happen. That's my question. Has anyone seen a recent article saying the actual Currency will remain unchanged.

[wilecoyote]

Nostradamus,,,, where are you?

[ringer1]

Another question I have is....if they change the currency, and you don't want to cash in all of your dinar you currently possess, and they are going to end up phasing it our by the end of the year. What do we do to get our hands on the new currency by trading in the old without a penalty?

[jmakTN]

It is hard to ignore the reports from the ministry of finance and CBI, when they both say the same thing. Basically, the fantasy of a 1000% increase is not a possibility and probably never was. Yet some believe that this is a ploy, that these official representatives are wrong and the "guru's" on this site and others are right, because they've been so accurate in the past. It looks like we won't really loose our investment and if we hold on to it for several more years we could double or even triple our money, which is closer to reality! But if you don't like they way that sounds, then keep believing that the "leaders", the ones without any academic background, experience trading in FX markets, or publications to their name, are right.

[successphil12]

Conscious / Minister of Finance: raise zeros from the Iraqi currency against the dollar will be supported by

مدير الموقع Site Manager

حجم الخط: Font size:

واع / بغداد / ع.هـ Conscious / Baghdad / G. E

11/2/2010 11/2/2010 3:51pm 3:51 pm

اكد وزير المالية باقر جبر الزبيدي ان &'1585;فع ا!26#1604;اصفار من العملة العراقية سيدعم العملة امام الدولار . Finance Minister Bayan Jabr said the lifting of the zeroes of the Iraqi currency will support the currency against the dollar.

واضاف The الزبيدي في تصريحات نقلها مراسل( وكالة انباء الاعلام العراقي /واع ) ان هذا المقترح الذي قدمته وزارة المالية الى البنك المركزي العراقي لم يتأثر بزيادة او نقصان وانما هو فقط حذف الاصفار ليس الا كماهو الحال في العديد من الدول Zubaidi, in remarks quoted by reporter (news agency, Iraqi Information / conscious) that this proposal by the Ministry of Finance to the Central Bank of Iraq was not affected increase or decrease but it is just delete the zeros vocation not only the case in many countries ، مشيرا الى ان الدينار العراقي سيقابل الدولار أو يزيد بقليل بعد تطبيق هذا المقترح . , Noting that the Iraqi dinar would be offset dollar or slightly more than after the application of this proposal.

وبحسب مصدر مسؤول في الوزارة According to an official source at the ministry فان مقترح رفع ثلاثة اصفار عن يمين العملة سيكون وفق سياسة نقدية تدريجية ليس كما حصل في تركيا وهذه السياسة سترفع من القيمة النقدية للعملة العراقية وسيكون للدينار العراقي The proposal to raise three zeroes from the currency will be in accordance with the right monetary policy is not gradual, as happened in Turkey and this policy will raise the monetary value of the Iraqi currency and wmll of the Iraqi#dinar نو?ة نقҟية امام جميع العملات . Strength of cash against all currencies.

[Kent]

Conscious / Minister of Finance: raise zeros from the Iraqi currency against the dollar will be supported by

مدير الموقع Site Manager

حجم الخط: Font size:

واع / بغداد / ع.هـ Conscious / Baghdad / G. E

11/2/2010 11/2/2010 3:51pm 3:51 pm

اكد وزير المالية باقر جبر الزبيدي ان &'1585;فع ا!26#1604;اصفار من العملة العراقية سيدعم العملة امام الدولار . Finance Minister Bayan Jabr said the lifting of the zeroes of the Iraqi currency will support the currency against the dollar.

واضاف The الزبيدي في تصريحات نقلها مراسل( وكالة انباء الاعلام العراقي /واع ) ان هذا المقترح الذي قدمته وزارة المالية الى البنك المركزي العراقي لم يتأثر بزيادة او نقصان وانما هو فقط حذف الاصفار ليس الا كماهو الحال في العديد من الدول Zubaidi, in remarks quoted by reporter (news agency, Iraqi Information / conscious) that this proposal by the Ministry of Finance to the Central Bank of Iraq was not affected increase or decrease but it is just delete the zeros vocation not only the case in many countries ، مشيرا الى ان الدينار العراقي سيقابل الدولار أو يزيد بقليل بعد تطبيق هذا المقترح . , Noting that the Iraqi dinar would be offset dollar or slightly more than after the application of this proposal.

وبحسب مصدر مسؤول في الوزارة According to an official source at the ministry فان مقترح رفع ثلاثة اصفار عن يمين العملة سيكون وفق سياسة نقدية تدريجية ليس كما حصل في تركيا وهذه السياسة سترفع من القيمة النقدية للعملة العراقية وسيكون للدينار العراقي The proposal to raise three zeroes from the currency will be in accordance with the right monetary policy is not gradual, as happened in Turkey and this policy will raise the monetary value of the Iraqi currency and wmll of the Iraqi#dinar نو?ة نقҟية امام جميع العملات . Strength of cash against all currencies.

Could you give us a link on that one? Perhaps we can get one of our in-country guys to get a clearer translation. This looks different than the last statememt from MoF.

[egbert]

caddieman, unfortunately, they get it, they just don't want to believe it. It can still revalue - down the line.

[whisky runner]

how can people of Iraq pay for things with only pocket change if they take the 3 zero notes out for their ... reform cash management ... and remain at 1170

[Kent]

how can people of Iraq pay for things with only pocket change if they take the 3 zero notes out for their ... reform cash management ... and remain at 1170

Answer to the "how" question: http://www.reconversionbcv.org.ve/pdf/TripticoColorIng.pdf

[someday]

funny, i don't see any of those statements straight form cbi or even the finance minister....doesn't amount to a hill of beans

[jJones]

...so lets see...they will need a dumptruck of dinar to buy grocerys....please!!

Yes lol,

then I will need a dump truck of grocery's to eat out of cause me getting hungry

[Dandy1]

Conscious / Minister of Finance: raise zeros from the Iraqi currency against the dollar will be supported by

مدير الموقع Site Manager

حجم الخط: Font size:

واع / بغداد / ع.هـ Conscious / Baghdad / G. E

11/2/2010 11/2/2010 3:51pm 3:51 pm

اكد وزير المالية باقر جبر الزبيدي ان &'1585;فع ا!26#1604;اصفار من العملة العراقية سيدعم العملة امام الدولار . Finance Minister Bayan Jabr said the lifting of the zeroes of the Iraqi currency will support the currency against the dollar.

واضاف The الزبيدي في تصريحات نقلها مراسل( وكالة انباء الاعلام العراقي /واع ) ان هذا المقترح الذي قدمته وزارة المالية الى البنك المركزي العراقي لم يتأثر بزيادة او نقصان وانما هو فقط حذف الاصفار ليس الا كماهو الحال في العديد من الدول Zubaidi, in remarks quoted by reporter (news agency, Iraqi Information / conscious) that this proposal by the Ministry of Finance to the Central Bank of Iraq was not affected increase or decrease but it is just delete the zeros vocation not only the case in many countries ، مشيرا الى ان الدينار العراقي سيقابل الدولار أو يزيد بقليل بعد تطبيق هذا المقترح . , Noting that the Iraqi dinar would be offset dollar or slightly more than after the application of this proposal.

وبحسب مصدر مسؤول في الوزارة According to an official source at the ministry فان مقترح رفع ثلاثة اصفار عن يمين العملة سيكون وفق سياسة نقدية تدريجية ليس كما حصل في تركيا وهذه السياسة سترفع من القيمة النقدية للعملة العراقية وسيكون للدينار العراقي The proposal to raise three zeroes from the currency will be in accordance with the right monetary policy is not gradual, as happened in Turkey and this policy will raise the monetary value of the Iraqi currency and wmll of the Iraqi#dinar نو?ة نقҟية امام جميع العملات . Strength of cash against all currencies.

This is a good article and should have it's own thread where it can get the attention it deserves.

Thanks for posting it.

Update: Just found it posted in it's own thread.

http://dinarvets.com/forums/showthread.php?9991-lifting-of-the-zeroes-of-the-currency-will-support-the-currency-against-the-dollar&p=64885

Edited February 11, 2010 by Dandy1
Update

[gopher]

An Iraqi cabinet committee ordered the change in 2007, but the central bank did not think it appropriate until recently, Kasim said. The dinar's value will remain unchanged, he said.

It is very normal for governments to say one thing and then at a later date do another. This always upsets a number of people. But we need to always remember that as situations change so must a decisions we make. Even if they meant it when they said it, they could be saying something different now and mean it.

[War Eagle]

Can you imagine the 1 dinar being worth .0008547. Just WHAT will the average Iraqi buy with this ??????????????????????????????????????

[mrref]

We gonna lift the zero's, we are not gonna lift the zero's. Who in the h--l really knows??????????????????????????????

[kaperoni]

It means that the currency will retain its value. so a 25,000 note will remain 25,000 dinars. They will RV to get them in and issue new smaller denoms for the new exchange rate.

[quadraph0nic]

kaperoni I would love to believe what your saying. I Really do but how do you come to that conclusion? I feel the iraqis dont care about making foreign investors who are just anyone rich. They did stress in the story they want to make it easier to make cash transactions. It is very possible to take one currency and give it equal value to a new currency that will replace it. IMO i think we get hung up on the word value. Value to us is the actual quantity to the iraqis it may be just a matter of renaming something ie 25,000 = 25. If those 3 zeros fall off theres goes "Our Value" and of course we wont be millionares and I am trying to make peace with this...Someone counter my statement and help me see that I'm wrong. I want to be wrong about this...

[Kent]

kaperoni I would love to believe what your saying. I Really do but how do you come to that conclusion? I feel the iraqis dont care about making foreign investors who are just anyone rich. They did stress in the story they want to make it easier to make cash transactions. It is very possible to take one currency and give it equal value to a new currency that will replace it. IMO i think we get hung up on the word value. Value to us is the actual quantity to the iraqis it may be just a matter of renaming something ie 25,000 = 25. If those 3 zeros fall off theres goes "Our Value" and of course we wont be millionares and I am trying to make peace with this...Someone counter my statement and help me see that I'm wrong. I want to be wrong about this...

Quad, you nailed it. It is amazing how we all read things differently based on an existing presupposition. It causes some of us to understand a reference to a lop and others to see an RV. Absolutely fascinating to watch.

[fatcat]

I believe they said the value of the new 25 dinar will remain the same as the 25k dinar. So the two notes will remain the same value. The difference I dont understand is the 25 note will be locked in. I believe my dreams are gone, hope the crap is a smoke screen. Let it ride though

[quadraph0nic]

this story in the begining of the post isnt the only time something like this has been written. But its the vaguenss of the stories that just kills me either that or the translation sucks. I just wish this would come to an end soon...