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Question From Dopey @ TNT

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Question From Dopey @ TNT Empty Question From Dopey @ TNT

Post by Ssmith on Thu Mar 19, 2015 4:24 pm

My really dopey question about 1166

My dear ones,
Can someone please explain to me what "1166" means?  I keep hearing this term on the calls, in the forum, in the chat, and I have no clue what this means. Are we talking ONE THOUSAND, ONE HUNDRED AND SIXTY-SIX DINAR = A SINGLE US DOLLAR BILL?  or what.  I feel so dopey asking this question however, I feel more dopey not having the answer. Help would be greatly appreciated! 
PS: What is the calculation translation to exchanging currency?

Responses:

Yes, that's what 1166 means -- it is the current (low) value of the dinar against the dollar.
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Thank you Adept you dear darling. Can you explain a little further?
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 The 1166 is a marker rate. When Sadam took his show on the road, The IMF and the UN said head home or we will artificially 
devalue your currency from $3.22 = $1 USD to $1 USD = 1169 Dinar. He didn't go home so they turned his money to
toilet paper...................................
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micki, when you trade one currency for another the value of each currency determines how much you receive, i.e. the "rate" of exchange. Currently one dollar gets you 1,166 dinars, at least hypothetically. Everyone is hoping for that rate to increase so that one dollar only gets about 0.2557544757033248 dinars (about one fourth), which means when you trade in one dinar you will receive $3.91.
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Question From Dopey @ TNT Empty Re: Question From Dopey @ TNT

Post by Kevind53 on Thu Mar 19, 2015 5:20 pm

Dopey ... what an appropriate name. Not that the answers are any better ...

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