(Post at Dinar Vets by Blonde_minx)
Bondlady's chat 3 year cbi article August 7, 2011
[campdav] Gulf Daily News - 07 August, 2011 Iraq plans to redenominate its dinar currency by knocking three zeros off the nominal value of bank notes to simplify financial transactions, a senior central bank official said yesterday. Central Bank deputy governor Mudher Kasim said he expected the new currency to be used in the market in three years and it would have no impact on inflation. "This will facilitate the payments system ... instead of carrying a lot of money, we will carry less. This is an important reform," Kasim said.
[BondLady] well if it didnt have a new rate to it then they would have to carry a lot of cash
[BondLady] unlike here in the article where it says.........."This will facilitate the payments system ... instead of carrying a lot of money, we will carry less. This is an important reform," Kasim said.
[BondLady] the only way once the ld's are released for it to make them carry less cash is to rv when they release them
[BondLady] other wise they will carry tons an tons just for a can of coke
[BondLady] and the 3 year thing on it
Read More button on right
[BondLady] im thinkin that means they will do this for 3 years before they rv agin
[BondLady] they will keep it like it will be once they release the ld's for 3 years before giving any more changes to the dinar imo unless they got such a unreal amount of money pour in that the imf stepped in an said hey u have got to raise your rates
girlygirl] BondLady - basically we need to wait for release of the coins then?
[BondLady] i feel like the ld's will come 1st gg an possibly 2 coins
[BondLady] i could be wrong
[BondLady] but i think there will be like a 1,5,10,25,50,100 iqd note then a quarter and 50 cent piece or a dime an a nickel
[BondLady] basically like our currency
[BondLady] there tryin to make theres close to ours
[BondLady] i said this earlier
[BondLady] but ill say it 1 more time here
[BondLady] in 2003 they made 14 denominations of the new iqd when they replaced saddam notes
BondLady] so far today the only ones of those 14 released was a 25k,10k,5k,1000, 500 250 and a 50
[BondLady] thats 7 out of the 14 they have already made
[BondLady] so were lookin for a .........
[BondLady] 25,10,5,1, we already have the 50 and 100 notes
[BondLady] so 7+5 =12
[BondLady] leaveing 2
[BondLady] so i feel like thats a quarter an 50 cents
[BondLady] but in iqd not usd
[BondLady] so the newer coins would need to basically be a penny, dime, nickel
[BondLady] in the articles we have seen
[BondLady] it says
[BondLady] the coins was produced in 2004 but it wasnt the right time to bring them out
[BondLady] it wasnt the right time for them to bring out the 50 iqd either but they did
[BondLady] the 50 is only worth what 5 cents?
[BondLady] hope that helps