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XE.com Notice of redenomination??


Huntersailer
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Ok,

I was surfing the XE.com site (http://www.xe.com/currency/iqd-iraqi-dinar) and found the NOTICE below:

"The Iraqi Dinar is the currency of Iraq. The currency code for Dinars is IQD, and the currency symbol is د.ع . Below, you'll find Iraqi Dinar rates, a currency converter, Iraqi Dinar News and more. You can also subscribe to our currency newsletters with daily rates and analysis, or take IQD rates on the go with our XE Mobile apps for your iPhone, BlackBerry, or even your regular phone.

Notice: IQD may be redenominated:In 2010, the Central Bank of Iraq announced their plans to redenominate the Iraqi Dinar to ease cash transactions. The intention would be to drop three zeros from the nominal value of bank notes; but the actual value of the dinar would remain unchanged. That would mean that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) would both be worth the same amount in US Dollars. Although the announcement stated that the change would take place by the end of 2010, there has been no redenomination as of January 2011 and no further announcements have been made. As stated by the Central Bank of Iraq, their mandate is to "ensure domestic price stability and foster a stable competitive market based financial system." For more information about the redenomination, read "Iraq Planning Currency Redenomination."

"

The question is, what does this mean and how long has this been here? Has anyone seen this before or is this new?

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Ok,

I was surfing the XE.com site (http://www.xe.com/currency/iqd-iraqi-dinar) and found the NOTICE below:

"The Iraqi Dinar is the currency of Iraq. The currency code for Dinars is IQD, and the currency symbol is د.ع . Below, you'll find Iraqi Dinar rates, a currency converter, Iraqi Dinar News and more. You can also subscribe to our currency newsletters with daily rates and analysis, or take IQD rates on the go with our XE Mobile apps for your iPhone, BlackBerry, or even your regular phone.

Notice: IQD may be redenominated:In 2010, the Central Bank of Iraq announced their plans to redenominate the Iraqi Dinar to ease cash transactions. The intention would be to drop three zeros from the nominal value of bank notes; but the actual value of the dinar would remain unchanged. That would mean that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) would both be worth the same amount in US Dollars. Although the announcement stated that the change would take place by the end of 2010, there has been no redenomination as of January 2011 and no further announcements have been made. As stated by the Central Bank of Iraq, their mandate is to "ensure domestic price stability and foster a stable competitive market based financial system." For more information about the redenomination, read "Iraq Planning Currency Redenomination."

"

The question is, what does this mean and how long has this been here? Has anyone seen this before or is this new?

Newbie - Chill and catch up. sorry

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I greatly appreciate both of your replies. But other than insulting me, you have provided no information to answer my questions. If you can't say anything worthwhile then don't say anything at all. Keep your insults and snide remarks to yourself. I asked a legitimate question, and got **** on. People of your caliber don't deserve to even post. Thanks again!!

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thanks for the post ....butttttttttt...that information you posted has been saying those same exact words for many many months............maybe longer.

When you were answered "old news" it really is. Am sorry....know this whole thing is exciting to you .

myst

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Welcome Huntersailor.

That has been there at least several months. I remember the first time I saw that, how excited I was, and I received the same curt, semi snotty answers. I remember I asked one time what "peeps" meant (didn't have a clue) and no one even bothered answering me and I ask again and one guy told me that it meant "people" and added..."you got to be kidding, right?"

I mostly just read and don't post much but I just wanted to welcome you and encourage you to keep reading and you will learn what you need to learn. Pay attention to Adam, the mods, and a few others who are grounded (you'll learn who) and have some fun.

gp49

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I greatly appreciate both of your replies. But other than insulting me, you have provided no information to answer my questions. If you can't say anything worthwhile then don't say anything at all. Keep your insults and snide remarks to yourself. I asked a legitimate question, and got **** on. People of your caliber don't deserve to even post. Thanks again!!

I read all the post before this and unless something was removed I didn't see anything to cause you to have such and attitude. Some of your question was answered. Yes we have seen it and it is very old news. But hey thanks for the post and keep searching. Maybe you will find something we haven't seen yet.

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I greatly appreciate both of your replies. But other than insulting me, you have provided no information to answer my questions. If you can't say anything worthwhile then don't say anything at all. Keep your insults and snide remarks to yourself. I asked a legitimate question, and got **** on. People of your caliber don't deserve to even post. Thanks again!!

Hi HunterSailer,

I have a feeling your post will be moved to the L section. If you would like an explanation of what this means, I think you will get an explanation in that section from some people with knowledge on this subject and they won't bash you for asking. I too feel it is a legitimate question and you deserve an answer. Unfortunately, you cannot discuss this subject in any section but the L forum. <_<

Happy Friday,

Kimberlye B)

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That is one the Loppers favorite documents to prove that Iraq is going to do a straight lop, nothing more, nothing less. Basically it's a CYA notice just in case that is Iraq's intention. Imagine if they put up there that Iraq planned on RV'ing their currency and then by some bizzare reason they Lopped. Could you imagine how many lawsuits they would be subjected to? Way to many to count.

No worries mate, it will RV.

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I first saw that on the site early in Jan., 2011. Wasn't there before that.

I first noticed it in May of 2010. I wish I had saved the original posting in May of 2010. The original message used to read that the IQD "would" be redenominated in December of 2010; instead of saying it "may" redenominate in 2010. XE changed the language after nothing happened. Also, (not certain if it still does) the statement used to have a link in it; when clicked, it would carry a person over to a Rueters article that had some article about the redenomination of the IQD. The problem was when you actually went to Rueters to confirm the article was legitimate, there was no article on the actually Rueters website. The only way to see the article was by clicking the link on the XE website. It appeared that XE was posting a bogus article by trying to quote Rueters as the source.

It means nothing, other than it is a legal disclaimer to cover XE from lawsuits.. XE doesn't know anymore than anyone else; meaning they are in the dark also.

No worries. If that disclaimer and XE were accurate, then a redenomination would have happened by December of 2010, dinar talk and chatter would be a mute point by this time, and we wouldn't still be researching and waiting for the RV.

Edited by PD46
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I greatly appreciate both of your replies. But other than insulting me, you have provided no information to answer my questions. If you can't say anything worthwhile then don't say anything at all. Keep your insults and snide remarks to yourself. I asked a legitimate question, and got **** on. People of your caliber don't deserve to even post. Thanks again!!

Don't let it bother you. You are just getting a lucky-break jump-start in an educational experience in respect of how we do things here. Just business as usual. Think nothing of it. You ain't seen nothing, yet!

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I greatly appreciate both of your replies. But other than insulting me, you have provided no information to answer my questions. If you can't say anything worthwhile then don't say anything at all. Keep your insults and snide remarks to yourself. I asked a legitimate question, and got **** on. People of your caliber don't deserve to even post. Thanks again!!

Its been something that the CBI has talked about for years now.....it COULD happen.....we just dont know yet if they will follow through....

This is the downside to this investment....alot of people will tell you it will never happen and those are the ones who dont fully understand it or are just scared to face the possible outcomes....

This plan to redenominate is actually in the parliments hands being voted on.....hopefully they throw it out and go back to the drawing board on how to raise the value of the dinar....

You will have to excuse some of the people here....we were all newbies once and you posted a valid question.....

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I greatly appreciate both of your replies. But other than insulting me, you have provided no information to answer my questions. If you can't say anything worthwhile then don't say anything at all. Keep your insults and snide remarks to yourself. I asked a legitimate question, and got **** on. People of your caliber don't deserve to even post. Thanks again!!

I have seen this same article around a number of times since I joined in July. Notice that no date after Jan. 2011 is listed, article came out in 2010, not 2011, and gives no further information of interest to us after stating that the currency would be redenominated.

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I have seen this same article around a number of times since I joined in July. Notice that no date after Jan. 2011 is listed, article came out in 2010, not 2011, and gives no further information of interest to us after stating that the currency would be redenominated.

Of course except the countless delete the zeros articles that seem to pop up almost every other day......

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I greatly appreciate both of your replies. But other than insulting me, you have provided no information to answer my questions. If you can't say anything worthwhile then don't say anything at all. Keep your insults and snide remarks to yourself. I asked a legitimate question, and got **** on. People of your caliber don't deserve to even post. Thanks again!!

Actually, they first announced their intentions to do this in 2006, and have followed through with sporadic press releases confirming their intentions.

It is only lately, especially since June 19 of this year when the plan was presented to Maliki, have the press releases been coming out multiple times per week.

That said, it is, and always has been a distinct possibility. Anyone saying otherwise is very poorly informed.

Before this can take place, there are many hurdles that have to be cleared; of which Maliki may be the most difficult.

There is little doubt that this is the CBI's first choice. In 2006, the Minister of Finance and Shabibi's fore runner first announced it as the plan. Shabibi has continued to reinforce the possibility ever since.

However, it hasn't passed parliament, and unless Shabibi really wants the political fallout of exercising the CBI's autonomy to unilaterally affect the Iraqi currency, it may never come to pass.

This is just one more of another uncertainties we face.

XE is merely offering the only information that has been released from Iraq in the past 5 years that may affect the Dinar.

Welcome to DV. As you have already found out, questions that require pragmatic thought are often faced with disdain.

There is a special place for second class citizens here to openly discuss the possibilities.

If you pursue this, you will be banished to that realm.

It is the intellectual equivalent of Racism, but life goes on.

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Ok,

I was surfing the XE.com site (http://www.xe.com/currency/iqd-iraqi-dinar) and found the NOTICE below:

"The Iraqi Dinar is the currency of Iraq. The currency code for Dinars is IQD, and the currency symbol is د.ع . Below, you'll find Iraqi Dinar rates, a currency converter, Iraqi Dinar News and more. You can also subscribe to our currency newsletters with daily rates and analysis, or take IQD rates on the go with our XE Mobile apps for your iPhone, BlackBerry, or even your regular phone.

Notice: IQD may be redenominated:In 2010, the Central Bank of Iraq announced their plans to redenominate the Iraqi Dinar to ease cash transactions. The intention would be to drop three zeros from the nominal value of bank notes; but the actual value of the dinar would remain unchanged. That would mean that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) would both be worth the same amount in US Dollars. Although the announcement stated that the change would take place by the end of 2010, there has been no redenomination as of January 2011 and no further announcements have been made. As stated by the Central Bank of Iraq, their mandate is to "ensure domestic price stability and foster a stable competitive market based financial system." For more information about the redenomination, read "Iraq Planning Currency Redenomination."

"

The question is, what does this mean and how long has this been here? Has anyone seen this before or is this new?

It means if you listened to the pumpers and spent a lot of your money on dinars then you are probably going to be very upset.

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I greatly appreciate both of your replies. But other than insulting me, you have provided no information to answer my questions. If you can't say anything worthwhile then don't say anything at all. Keep your insults and snide remarks to yourself. I asked a legitimate question, and got **** on. People of your caliber don't deserve to even post. Thanks again!!

First of all, welcome to the neighborhood. It is really great to have you as our guest and new member. Don't let people of low character ruin your experience here. There are many more good people than bad (that is why you received all the positive marks). Anytime you have a question about "ANYTHING", you ask it. That is why we are here. Again, welcome, hope to hear more from you.

Actually, they first announced their intentions to do this in 2006, and have followed through with sporadic press releases confirming their intentions.

It is only lately, especially since June 19 of this year when the plan was presented to Maliki, have the press releases been coming out multiple times per week.

That said, it is, and always has been a distinct possibility. Anyone saying otherwise is very poorly informed.

Before this can take place, there are many hurdles that have to be cleared; of which Maliki may be the most difficult.

There is little doubt that this is the CBI's first choice. In 2006, the Minister of Finance and Shabibi's fore runner first announced it as the plan. Shabibi has continued to reinforce the possibility ever since.

However, it hasn't passed parliament, and unless Shabibi really wants the political fallout of exercising the CBI's autonomy to unilaterally affect the Iraqi currency, it may never come to pass.

This is just one more of another uncertainties we face.

XE is merely offering the only information that has been released from Iraq in the past 5 years that may affect the Dinar.

Welcome to DV. As you have already found out, questions that require pragmatic thought are often faced with disdain.

There is a special place for second class citizens here to openly discuss the possibilities.

If you pursue this, you will be banished to that realm.

It is the intellectual equivalent of Racism, but life goes on.

Actually, I have seen a reference to 2003 somewhere in the archives, and I have seen sporatic references since 2004 when I first invested. I guess I am learning patience if nothing else.

Edited by gman51
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