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IQD To Be The Strongest Currency In The Middle East

k98nights

By k98nights,
in Iraq & Dinar Related News

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k98nights
k98nights

Govt planning to increase value of Iraqi Dinar by ommiting 3 zeros Dohuk, Sept. 3 (AKnews) - The Iraqi government is planning to increase the value of the Iraqi Dinar to become the "strongest in the

tacson
tacson

How is this good news deleting the zeros? Am i missing something?

xyzzy
xyzzy

That would be awesome, but I think the most obvious way to read this (what no one wants to hear) is that the value of the dinar will be increased by removing the 3 zeros, just as it says. I can't see

Nelson0528 Newbie

Nelson0528

Posted
Posted

Whether you want to call it a LOP or RD really doesn't matter. They are going to print new denominations, raise the value, and limit the liability incurred by all the outstanding large dinar notes.

This is called rebasing, NOT to be confused with freebasing; which most of us are clearly doing... lol Cheers folks. It is almost done.

And whether you see a modest return on your money (most likely) or an astronimical return (less likely) the value of the currency you hold will go up. Most of you will make money; provided you did not pay too much for the notes.

And remember to weigh your options closely when it comes time to deposit them in the bank. Maybe, just maybe, it would benefit you to inquire about foriegn currency accounts and not convert all of it right away...

P L U R

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Raleighwood Newbie

Raleighwood

Posted
Posted

They will rv first then rd. This was stated in an article.

Well they wouldnt be able to RV very high at all if thats the case.....even jumping to 58 billion in reserves doesnt leave much room for improvement on the current rate....

Without doing any numbers crunching on a calculator I would say a educated guess at what it could jump to without RD first, (and only counting currency in circulation) I would say maybe they could do 500 to 1 or something....could be a bit higher but I wouldnt even expect over a penny....

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Dinars4sale Newbie

Dinars4sale

Posted
Posted

Its not making it worthless.....it will still be worth the same.....right now your 25k note is worth 21 bucks or so.....the new 25 dinar note will carry the new exchange rate after the RD process is complete and will still be worth around 21 bucks....

You exchange your 25k note, for a 25 note, but you dont lose any value at all....its only a monetary illusion.....once the dinar is on par with the USD, the confidence in the dinar and the credibility will be increased because the currency wont be so inflated anymore....

So what do I exchange my $500 dinar in for?

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The Chancellor Newbie

The Chancellor

Posted
Posted

I have seen much discussion and even read a couple of articles that were "touted" as having said they were going to RV first; but, as of yet, I haven't actually seen one. Do either of you have a link for us?.

I am sorry I don't. All I can say is that it was stated in one of the many recent CBI articles.

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