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IMF Central Bank of Iraq Dinar Deletion Zeros Translated Video and Documents DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

IMF Central Bank of Iraq Dinar Deletion Zeros Translated Video and Documents

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IMF Central Bank of Iraq Dinar Deletion Zeros Translated Video and Documents Empty IMF Central Bank of Iraq Dinar Deletion Zeros Translated Video and Documents

Post by GypZ on Mon Aug 31, 2015 7:55 pm

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IMF Central Bank of Iraq Dinar Deletion Zeros Translated Video and Documents Empty Re: IMF Central Bank of Iraq Dinar Deletion Zeros Translated Video and Documents

Post by dwm007 on Mon Aug 31, 2015 8:13 pm

To start off this is nothing new and simply a re-hash of the many articles out of Iraq addressing the re-denomination, or LOP, that they likely will do eventually. They have scheduled this and then canceled at least twice and as of now say they intend to do it "early next year" after releasing the new 50,000 and 100,000 denomination notes to temporarily ease the burden of having to handle so much physical currency. A lot of the officials simply don't think it to be worth the expense and have fought against it while others think it would improve the acceptance of the Dinar in the market by making it more manageable, whether or not they will do this eventually remains to be seen but if they do it will finally bring this thing to an end.


Pumpers and gurus would have Dinar speculators believe this is the event they have been waiting on and that it means "RV" but nothing could be farther from the truth! Redenomination/delete zeros/LOP or whatever someone chooses to call it has been done many times by other countries in Iraq's situation, it means a new currency will be issued at a new rate and the old will exchange for the new. In Iraq's case they have stated many times they will delete three zeros and the new currency will exchange with the old at a rate of 1000 old for one new, this is a revenue neutral event and no one makes money from it. The new currency has a new value or 1000 times higher BUT the old keeps the old rate and exchanges at the 1000 to one rate with the new currency, that is how all re-denominations have been done and is the only possible way it can be done.

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