Iraq Dinar Money Changer
The economist from Beirut is stating in his commentary that the new Iraq currency of 2013 will have the same purchasing power of the current Iraq dinar currency.
You have to read the article and draw your own conclusions on what exactly is the intent of the Iraq Central Bank in bringing in the new Iraqi currency on the Iraqi people. I have included a pdf copy of the article just in case the article is delisted.
Where am I missing the url’s to read the articles
The article is highlighted in red.
So, have our dinar lost value? It seems
To me that 25000 dinar is now only 25 and 50000 is only 50. So, I will only get my investment out. Is this right?
Your Iraq dinar currency (2003) version will not lose any value according to the spokesperson for the Central Bank of Iraq.
I am having a hard time understanding what they are telling us and was hoping you could explain it better for me. They are saying that the 3 zero denoms will will be equal to the new denoms to be released. So 25,000 will be 25, 10,000 will be 10 and so on. Now when the rate is changed, say 1 iqd to 1 usd, and we exchange at our banks we what will be getting? We will not be getting 25,000 usd for 25,000 iqd right? There are some of these ‘gurus’ that say this would only happen internally and not affect the zeros outside of country. Now when the currency moves from us to the banks to our treasury only to be exchanged back to Iraq, how will they allow these bills to be excepted back at full face value?
SO ARE YOU SAYING THAT 25000 WILL STILL BE WOTH 25000 AND WE WILL JUST GET BACK WHAT WE PAID FOR IT .THANK YOU
Thank you for your prompt answer. I have read that the newdinar:olddinar would be 1:1,000, but you are saying that the value remains the same. 25,000 dinar note = 1 25 dinar note so no value lost. This makes me feel better about the situation.
The only positive way this could play out for us is if they were to do the exchange like they did back in 2003 with a 1:1 exchange in country; which would be impossible and cause a major shortage in lower denoms. We essentially will be losing money at exchange because of the inflated costs at which we purchased our dinar at. I guess the smartest play would be to open a Warka account and wait for the dinar to reach its full potential.
What do you mean a 1:1 exchange rate?
You can read about the exchange here http://web.archive.org/web/20070515093736/http://www.cpa-iraq.org/budget/IraqCurrencyExchange.html
When they exchanged the saddam notes and the new iqd at a 1:1 rate
“some people have a misunderstanding as there are those who believe that it is possible to make profits from the current Iraqi dinar buy and sell in the post”
Seems pretty clear. Anyone who thinks they can profit from buying the dinar is misunderstanding.
Of course, they are not going to come out and say, “Yes, buy the dinar and make a profit!”…..who knows anymore.
Of course not… only dinar pumpers say that.
Folks, think about this, if you are an Iraqi citizen, and someone tells you to trade a 25 Dinar for a 25,000 Dinar, how you going to feel? This policy is no different than a lop and in my opinion, it ain’t going to happen. They’ll be rioting in the streets of Iraq if Shabibi doesn’t let the Dinar raise to it’s old value as they have stated numerous times they want to go back to. If a foreign force invaded the US and the dollar devalued like the Dinar did, you would lose value of all your assets. Then if the Fed.’s came along and said, hey, we got to get some of this money off the streets, so we’re going to cut out the big bills and basically do the same thing Iraq wants to do, what would you do? So it makes sense to RI rather than calling it an RV. It makes sense to raise the value and give the Iraqi people back their losses while at the same time stimulating the economy in every area, (activate as they have called it several times in several articles)which allows the citizens to have more confidence in their government for not robbing them blind, and also shows them their money is being given back through appreciation and not lopping. just my honest opinion.
So what do we really think? It’s going to be a wash?
Saw this on Currency Newshound:
The most appropriate option for the conditions in Iraq as a developing country is to stabilize the exchange rate, both against the dollar or to a basket of currencies, and choosing the appropriate exchange rate because the official exchange rate of the previous $ 3.2 of the dinar was originally overstated and should be chosen exchange rate less may be the price at which the link dinar against Currently the dollar after dividing it into a thousand dollars to 1.125 dinars a good price.
What does this mean?
Sounds like he is saying that noone will make a profit off of the Dinar and we have a full on LOP just like everyone has been scared of. If this is not the case, please explain to me because I am interpreting that this man is saying that Iraq is going to LOP the zeroes and we get screwed on any profit that we would have made. This is what I have been afraid of all along. If this is not the case then please explain.
Reality if that no one’s going to gain profit from ID or any other currency. The only people who gained profit were dealers, gurus and who made up rumor.It’s obvious that there a gang in the U.S. and Puerto Rico.
scam scam scam