Iraqi News Officials at the Central Bank that the bank has prepared a plan

[NFL]

Officials at the Central Bank that the bank has prepared a plan

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Officials at the Central Bank that the bank has prepared a plan

Sat, 13-02-2010 01:18 evening

Baghdad / term

Officials at the Central Bank that the bank has prepared a plan to drop three zeros from the Iraqi currency with the nominal to maintain its purchasing power. Officials at the Central Bank since the beginning of February that the bank has prepared a plan to drop three zeros from the Iraqi currency and thus smaller nominal value, while maintaining the purchasing power and value of real.

The adviser said the appearance of the central bank governor Mohammad Saleh: that the switch will be a gradual long-term co-exist during which the old currency and the new currency so as not to be affected by the market and commercial transactions. He said Finance Minister Baqir Jabr Al-Zubaidi said such a resolution would put Iraq in the ranks of the Gulf states and calling it the action is heartening. And re-remembered that other countries did this step, such as Turkey and Brazil.

However, as is expected in every step of such a large, central bank's decision to delete three zeros from the national currency rumors about increasing the value of the Iraqi dinar. However, Finance Minister Bayan Jabr denied that a process of change to any shocks.

Advisor of the Central Bank the appearance of Mohammed Saleh For his part, stressed that dropping the three zeros of the draft Strategy in line with the development which is expected to be witnessed by the Iraqi economy in the next phase.

Mohammed Saleh assured citizens that the process of switching the currency will be easy and convenient, but noting its benefits in facilitating business transactions.

The consultant noted the appearance of Mohammed Saleh said the new Iraqi dinar will remain when it was put on the symbols of Iraq and holding the Ghtyh Co, Arabic and Kurdish.

Expert financial and economic as Abdul Hadi welcomed the orientation of the Central Bank decision to delete the zeros of the Iraqi currency ruling out any negative effects on it.

Pointing out that the decision to drop the zeroes on the currency that would, among other benefits, the proliferation of ATM machines that are still unknown in Iraq because they can not mobilize such devices in Iraqi dinars at the present time.

http://translate.google.com/translat...history_state0

[MakeItSo]

Deception or confirmation?

Only The Shadow knows (and he ain't talkin').

[tim harrison]

denied that a process of change to any shocks ??? what does this mean???

[Deacon B]

Once again it is publized of the 000 drop. It seems to me this type of article will be almost a daily revelation so that the Iraqi peeps will be well prepared for the change in the value of their dinar. Rv should be right around the corner.

[Jac]

Deception or confirmation?

Only The Shadow knows (and he ain't talkin').

Perhaps that "shadow" is the Coalition Governments and international banks and big business and who leads that the good old USA.

[tim5400]

IMO the "dropping of the 3 zeros" would make the dinar even more worthless without an RV. The dropping of the 000's only means they will RV then introduce the 5 remaianing denominations 25..10..5..1... .50 so the citisens can buy everyday goods without having trouble "making change". Capeach lol

[mongoose]

denied that a process of change to any shocks ??? what does this mean???

I think it means that, the future of the Iraqi dinar is up in the air as to anyones guess. Okay I am going to give you some info in reference to this article, ready? What, when, where, why and how? Got it, OOOOOKay. Isn't this aggravating and people actually claim to know what is happening with these people!

[whisky runner]

see if i get this rumor right ... ... rv at 0.86 cents on the dinar ... drop the 3 zeros ... then everyone can cash in .... 1 million dinar = $860.00 us dallars ... means we get our money back anyway ...

[tbush]

"He said Finance Minister Baqir Jabr Al-Zubaidi said such a resolution would put Iraq in the ranks of the Gulf states"

Does this sound like a positive higher rv rate?

[mongoose]

"He said Finance Minister Baqir Jabr Al-Zubaidi said such a resolution would put Iraq in the ranks of the Gulf states"

Does this sound like a positive higher rv rate?

I love it!

[jackdavis1364]

"He said Finance Minister Baqir Jabr Al-Zubaidi said such a resolution would put Iraq in the ranks of the Gulf states"

Does this sound like a positive higher rv rate?

That's the way I took it. But, what do I know. I'm about as confused as one person can get. There are as many conflicting stories as there are the number of people involved. Everyone has a contact in high places. Everyone gets the information straight from the horse's mouth. Everyone's information is correct. The only problem? No one is ever correct. We will know when and if it happens when it happens.

[tim5400]

Whiskey runner.. Ithink ...IMO....that there was a big misinterpertation of the word "dropping". If the Iraqis "drop" any zeros without FIRST revaluating...their currency is worthless and they would not be able to pay back any debt that has to be honored. It Doesnt make any economic sense to go down that road. They need to increase the dinars value to get on the same playing field as the rest of the middle eastern countries. So lets stop using the word drop and start realizing that the smaller currencies they will use will Make the Larger currencies to big and dangerous to carry in your wallet...remember these big notes will be worth way more...does armed robbery ring a bell ..they simply would need smaller notes ....I HOPE IM RIGHT LOL

[essicaja]

I am not sure how everything will work out but I do know one thing; eventually it will be worth something.

[nmcneill]

see if i get this rumor right ... ... rv at 0.86 cents on the dinar ... drop the 3 zeros ... then everyone can cash in .... 1 million dinar = $860.00 us dallars ... means we get our money back anyway ...

1,000,000 dinar @ $1.00 = $1,000,000 US. 1,000,000 @ .86 cents = $860,000 US. Thats how I see it.

[afarns]

1,000,000 dinar @ $1.00 = $1,000,000 US. 1,000,000 @ .86 cents = $860,000 US. Thats how I see it.

You're leaving out one VERY important part - DROP THE 3 ZEROS. We'll be very lucky if we get our money back on this one.

[noitall]

i take anything over 1

[reyjay]

I wonder if China forgave debt before this took place so they could write it off their books at a higher rate, than forgive deft after dropping the 3 zero's ? Would that make sense ? Right now it is hard to know what CBI and parliament will do, and I take any "news media" articles with a grain of salt. I just keep in mind what is feasible to happen and hope for the best, for them as well as for us.

[Beehealthy]

Thanks for the information.

[Pam&Brian]

Officials at the Central Bank that the bank has prepared a plan to drop three zeros from the Iraqi currency with the nominal to maintain its purchasing power. Officials at the Central Bank since the beginning of February that the bank has prepared a plan to drop three zeros from the Iraqi currency and thus smaller nominal value, while maintaining the purchasing power and value of real.

The ONLY way they can drop 3 zeros frm teir currency and maintain purchasing power is to revalue. Period

[DmsC]

How many more times do we need to see this same article authored by someone else.. It is almost the same thing over and over and over. Yes someone said they would drop 3 zeros from the currency, and yes no one knows exactly what they mean, since the times that have been given as examples to a "lop" are all countries that are having hyper inflation so those are not good examples. The past 2 weeks this same article has been posted again and again and the chicken littles of the world start running around screaming that the sky is falling and that they aren't going to get any money now Calm down wait and watch NO govt moves fast and by Fast I mean it takes 5 to 10 years for anything to get done I'm hoping since it has been about 7 years since the new Dinar was issued, that we are going to see something soon, if not keep your job and hope.

[mongoose]

The ONLY way they can drop 3 zeros frm teir currency and maintain purchasing power is to revalue. Period

I with you on that, Pam, if they don't RV/RI then they won't accomplish much with their currency!

[keylargo]

One invests $1,000.000 with" hope" of a million dollar indfall. That is 1,000,000. If the Dinar is not realued ad the last 3 zero's are dropped

one comes back with 1,000 dollars. In my book that is a zero gain. Why are so many people excited about such a change on these forums?

I wonder how Donald Trump fells after investing 30 million US dollars in the Dinar if such was to happen?

[chuksan]

Still the way I have seen it is dropping the zero's on the rate not the currency makes sense. .00086 becomes.86 .86 should equal 1.17 usd so 1,000,000. dinar would equal 1,170,000 dollars IMO of course

[ReDsY]

There is the slightest possibility that there is a lot of misinformation out there. The Iraqis are not stupid people and they are not interested in making Americans rich. However, as I've recently heard, this same thing happened back in the 90s in the Gulf War and many people became very wealthy from investments just like the ones we all appear to have made. So, time will tell. In the mean time, let the movers and shakers do their thing. I for one am not going to worry about it one way or another. Just a good general rule of thumb, you should never make an investment that you cannot afford to lose.

[terr]

I with you on that, Pam, if they don't RV/RI then they won't accomplish much with their currency!

I agree with this also.