RV RATE FOREX CHEAT SHEET what to look for on forex (DINAR GURU)

THIS WAS MADE BY DINAR GURU (NOT BY ME!) AND I JUST FOUND IT. THIS IS A COOL CHART OF WHAT TO LOOK FOR ON FOREX AND HOW TO FIGURE IT OUT!!

$ RATE = What you will see on Forex

$ .86 = 1.162

$ 1.00 = 1.000

1.17 = 0.854

1.86 = 0.537

2.00 = 0.500

2.50 = 0.400

3.00 = 0.333

3.22 = 0.310

3.46 = 0.289

3.50 = 0.285

3.86 = 0.259

4.00 = 0.250

4.10 = 0.243

4.40 = 0.227

5.00 = 0.200

5.25 = 0.190

5.50 = 0.181

6.00 = 0.166

7.00 = 0.142

8.00 = 0.125

8.25 = .0121

8.50 = .0117

9.00 = 0.111

10.00=0.100

PUSH THE DANG BUTTON SHIBIBI!! PLEASE AND THANKYOU!!

CANDI :flower:

GOOD TO KNOW!

This chart is not all together accurate. We all need to understand these terms properly.

Let’s assume that the Forex listing indicates: USD/IQD
Then let’s say that the Forex RATE(not currently showing) comes up as: 1170 (approximately what it has been on CBI site for a long time now.)

This means that 1 USD is worth 1,170 IQD.
And likewise 1 IQD is worth 1/1170 of a dollar or .0008547 USD.

The value in the provided chart labeled “RATE” is not the rate at all, it is the "result" of applying the rate, labeled “What you see on Forex” to the amount of IQD you want to exchange. In other words, what you see on Forex IS THE RATE and you divide the amount of IQD you are exchanging by this rate to determine the value of your exchange in USD.

The chart then, displays the amount of USD you would receive at the indicated USD/IQD “rate” that you see on the Forex site for each IQD you are exchanging. So you can see why we really want that “rate” to drop instead of rise.

“USD/IQD” is the way the rates are typically used and applied on exchanges such as Forex.

On the other hand, what we often read about on OOM and other sites like this is the inverse rate of “IQD/USD” instead of the normal rate configuration of “USD/IQD” typically used. Using the inverse rate makes it easier for us to figure out what our dinar is worth because you only need to multiply your amount of IQD by this number to see how much you have in USD’s. This is what was explained in other discussions today and why they were talking about the “1/x” calculator key.

Soooo, in conclusion, you need to know what the rate is that is being discussed, USD/IQD or IQD/USD. For this reason we would normally say “the USD/IQD rate is xxx” or “the IQD/USD rate is zzz”. This will become very important as the IQD begins a meteoric rise in value against the USD over the next few weeks and the typical rates we have been looking at for years become “inverted” or reversed if you will. Many will expect to see the rate numbers go up on the exchange sites but we really want to see those rates go down, FAST!

Try going to this link and it will help make things easier for the common man...
It shows IQD rate for countries along with inverse rate.



http://www.xe.com/ict/?basecur=IQD&historical=false&month=7&day=20&year=2011&sort_by=name&image.x=50&image.y=12&image=Submit

Thanks Candi - handy quick conversion chart!!

THANKS DB :cheers:

DBCooper wrote:This chart is not all together accurate. We all need to understand these terms properly.

Let’s assume that the Forex listing indicates: USD/IQD
Then let’s say that the Forex RATE(not currently showing) comes up as: 1170 (approximately what it has been on CBI site for a long time now.)

This means that 1 USD is worth 1,170 IQD.
And likewise 1 IQD is worth 1/1170 of a dollar or .0008547 USD.

The value in the provided chart labeled “RATE” is not the rate at all, it is the "result" of applying the rate, labeled “What you see on Forex” to the amount of IQD you want to exchange. In other words, what you see on Forex IS THE RATE and you divide the amount of IQD you are exchanging by this rate to determine the value of your exchange in USD.

The chart then, displays the amount of USD you would receive at the indicated USD/IQD “rate” that you see on the Forex site for each IQD you are exchanging. So you can see why we really want that “rate” to drop instead of rise.

“USD/IQD” is the way the rates are typically used and applied on exchanges such as Forex.

On the other hand, what we often read about on OOM and other sites like this is the inverse rate of “IQD/USD” instead of the normal rate configuration of “USD/IQD” typically used. Using the inverse rate makes it easier for us to figure out what our dinar is worth because you only need to multiply your amount of IQD by this number to see how much you have in USD’s. This is what was explained in other discussions today and why they were talking about the “1/x” calculator key.

Soooo, in conclusion, you need to know what the rate is that is being discussed, USD/IQD or IQD/USD. For this reason we would normally say “the USD/IQD rate is xxx” or “the IQD/USD rate is zzz”. This will become very important as the IQD begins a meteoric rise in value against the USD over the next few weeks and the typical rates we have been looking at for years become “inverted” or reversed if you will. Many will expect to see the rate numbers go up on the exchange sites but we really want to see those rates go down, FAST!

the 8.25 & 8.5 rate needs editing............little fix