10-2-2020 Intel Guru Frank26 The last five days all they talk about is the exchange rate of the Iraqi dinar... "no Frank, they said they are going to decrease the value of the Iraqi dinar?" The translation isn't proper. The wording is wrong...what they're doing is they're going to decrease the 3 zeros from the exchange rate to add value to the currency of the Iraqi dinar...
10-2-2020 Intel Guru RayRen98 Article: "The Central Bank of Iraq decided, and based on the minutes of the Currency Affairs Committee meeting No. (6) for the year 2020 held on 9/23/2020" Quote: "Re-impose a shortage fine on the small denominations ( 1000 , 500 , 250 ), starting from the date of 1/10/2020 and according to the instructions of the standards for circulation and replacement of banknotes, and the mechanisms of counting and sorting." Reportedly, Iraqi banks are receiving new 250, 500 and 1,000 dinar notes and are using advertising to encourage hoarders to deposit their money with added emphasis on reading the "Special Instructions".
10-2-2020 Intel/Newshound Guru tman23 ...I take you back to this old article quote. "THE NEW CURRENCY MUST CONE FIRST AS A PRECURSOR TO THE OLD AND REMOVING THE 3 ZEROES" .... In Iraq the central bank will send change to the finance minister he will forward it to the President ... The above quote has always been a wonder to a LOP or if there will be a short period of time for an exchange including the 3 zeros with a new rate .... sept 28 and on Iraq always got hot on the currency issue , they did back in 2012 when they were going to do it but Shabibi had an arrest warrant out on him...GET READY FOR RED OCTOBER...NOT THE MOVIE...MORE TO THIS STORY AS IT BEGINS.
10-2-2020 Newshound Guru Kaperoni ...a LOP is not something that the Central Bank of Iraq can just do... it requires parliamentary approval because it changes the face value of the banknotes. Personally, I do not think a LOP (redenomination) is the plan. There is too much talk about floating the currency and allowing it to at least initially to devalue to save money. This is not what investors want to hear...But I expect Iraq to follow the IMF directives. As the IMF said...send a positive message to the investor community and facilitate a favorable business climate.
10-1-2020 Newshound/Intel Guru Mnt Goat I still hold the FACTS that they are telling us the CBI is planning for an early January 2021 reinstatement of the dinar but again I am also saying that unless we begin to see some signs soon of the “project to delete the zeros” we can move on to another target. This project to delete the zeros is not something they will just do and not tell the citizens they are planning to do it. It will take time and much coordination. It may take a month or two to do. This is why, when the time comes, they cannot hide it from us. ...It will be in the daily written news from Iraq and something we can verify...
10-1-2020 Intel Guru Delta Article: "Iraq: the government is compelled to "delete the zeros" from the dinar currency ... more than "3 scenarios" are expected that will affect salaries and living" THERE IT'S...VERY CLEAR NOW AWESOME NEWS.
10-1-2020 Intel Guru RayRen98 Reportedly, Iraqi President Barham Salih was on Iraqi TV stating that there are three plans for reducing the rate of the dinar and deleting the 3 zeros. One of those will be chosen soon.
10-1-2020 Newshound Guru Kaperoni Several articles today about LOPing the dinar. We have said numerous times that this is a possibility. [I know this can be an option, but I believe it's a slim chance based on most of the other articles from CBI. Do you agree, Kap?] It would take parliament approval and therefore we are watching for such action. In an article last evening, the prime minister's reform paper to be submitted to parliament has been postponed until mid-October. If so, we won't see anything being done until then. With all the recent talk about deleting the zeros, it is concerning a LOP is in this reform.
10-1-2020 Newshound Guru Pimpy ...A couple days ago or so we had an article in which the IMF was suggesting that Iraq do a reduction on the exchange rate. That's good for us. We got other news. Article "Iraq: the government is compelled to "delete the zeros" from the dinar currency..." ...This person is suggesting that...they go ahead and devalue the currency. This scenario is not good for us. We want them to reduce the exchange rate. We do not want them to reduce the value of the actual dinar...this has been studied. This has been talked about several times....the studies show is you can't do that [devalue the currency]. It effects the poor people...in addition to that it'll cause the citizens of the country to lose faith in their currency because it has no value...this article here is an economic expert saying that this is what the Iraqi government should do. The other article is the IMF saying this is what they want done...a reduction in the exchange rate. That's good for us.
10-1-2020 Newshound Guru Jeff ...we have not seen article talking about deleting the zeros this whole year. This week alone we've seen two of them. That's good. That's encouraging. But these are actually talking about a LOP which is removing zeros off the physical notes which is a devaluation of their currency. Not an increase...This information is not from the Central Bank. It's from private news groups which means the people sharing - this information is their opinion. Unless this type of information is from the Central Bank we don't care...
10-1-2020 Intel Guru Bruce [via WiserNow] ...only very few people know what the rate is on the new Iraqi Dinar but we have a rough idea – I think based on what Dr Shabibi said when he was here back in 2012 – if you remember that particular meeting he said that the Dinar was capable of sustaining at XX dollars and you remember what that was – I think we could be there or higher here for this country...rates are going to be fine ...
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