Thread: Iraq/Dinar News. 09/05 to 01/14/07

Now you see the reason. I went thru this over and over. But hey this is the way all wanted it. So lets just get thru to the r/v.

Originally Posted by ezcash

Neno please we need a New Rule... before people post they MUST take the time to read at least the past 10 pages... this stuff has been kicked around all day... same questions... over and over... they are answered then someone pops in and starts the whole darn cycle all over again.. sorry but it is frustrating.. we have analized the auction issue all day... NO AUCTIONS.. Since Mon.. if people would just read they would see it has been answered "dozens" of times... grrrr... sorry but takes so long to find the real news when we have to read pages and pages of the same questions... ez :)

Originally Posted by H2O_Lover

Question for the Masses

If they shift 3 decimals it will make things
A) make it easy to re-price lets say a soda cost 1200 dinars it will now cost 1.20. For those having to do this it would make it easier.

B) they have made a big deal about the 1470 being stable. If the move everything 3 decimals would things still not be stable ?

The other thing is it was my understanding the 1470 was the same as the
.00068 as one is dinar to dollars and the other is dinars to dollars.

so the movement of three would be 1.47 usd = 1 dinar and .68 of a dinar = 1 dollar

thanks for the help ( damn anther forum with out a duck )

shes right absolutely,,,although i hold fast with my theory that they will make the dinar worth more than the dollar simply because the average iraqi must be convinced to only use dollars at which time they wont because the dollar is worth so much more than the dinar. give them a dinar worth more than the dollar and they wont be able to say USD.

WHY DO YOU GUYS KEEP TALKING IN CIRCLES YOU KEEP GOING ROUND AND ROUND AND SAYING THE SAME STUIPED THINGS GET IT RIGHT LETS POOL TOGETHER A PLANE TICKET AND SEND SOME ONE TO IRAQ AND GET THE REAL ANSWERS

Originally Posted by richone

WHY DO YOU GUYS KEEP TALKING IN CIRCLES YOU KEEP GOING ROUND AND ROUND AND SAYING THE SAME STUIPED THINGS GET IT RIGHT LETS POOL TOGETHER A PLANE TICKET AND SEND SOME ONE TO IRAQ AND GET THE REAL ANSWERS

tell you what u get me a ticket there and back and ill take the trip and ask what ever you want

Originally Posted by H2O_Lover

Question for the Masses

If they shift 3 decimals it will make things
A) make it easy to re-price lets say a soda cost 1200 dinars it will now cost 1.20. For those having to do this it would make it easier.

B) they have made a big deal about the 1470 being stable. If the move everything 3 decimals would things still not be stable ?

The other thing is it was my understanding the 1470 was the same as the
.00068 as one is dinar to dollars and the other is dinars to dollars.

so the movement of three would be 1.47 usd = 1 dinar and .68 of a dinar = 1 dollar

thanks for the help ( damn anther forum with out a duck )

A. a decimal shift may make things easier to calculate initially, but I really don't think it is that big of a deal for merchants to have a calculator and to convert on the spot.

B. a decimal shift does not make the currency or the rate more stable

There are much more important things for them to consider when shoosing an r/v rate. Personally I think they will go for the largest amount that can be supported by their economy and the IMF/world bank; while leaving room for immediate growth. Somewhere between $.50 and $1.50 imho.

You have the rates flip flopped

1 iqd = .00068 usd shift decimals 1 iqd = .68 usd
one dinar will only buy .68 dollars, so each dinar is worth less than 1 dollar

the corollary

1 usd = 1470 iqd shift decimals 1 usd = 1.47 iqd
so 1 dollar will buy 1.47 dinar, so each dollar will me worth more than dinar

The rate change is going to be a huge change in value, perhaps over a %1000 increase. I just don't think they can try to be subtle about it by just shifting decimals.

Originally Posted by neno

Now you see the reason. I went thru this over and over. But hey this is the way all wanted it. So lets just get thru to the r/v.

But.... :) we have never asked people to just read before they ask questions... its always been stay on news and do the silly stuff at the crazy thread.. Most people here really do want the news... :) Oh well just thought I'd try to explain the difference..:) no offense meant or taken... I still luv ya Neno :)

Originally Posted by H2O_Lover

hmmmmmmmmm i sure though the 1.47 we were talking about was 1.47 USD = 1 dinar. This would make every dinar i am holding ( which is not very many ) worth $1.47 USD

geezzz i think i will go back to what i do best and that is work

Right Now it is 1470 nid's to the 1 USD which means the dinar is worth .00073

Now.....
with a three deciamal move the way you say.

1.47 nid's to the 1 USD which would egual .73 cents for each dinar.

One More Way of moving the deciamal.

A Iraqi Dinar Notes value right now is 0.00073
move three spaces then you have .73

Which means that the dinar is worth .73 cents each

Originally Posted by richone

WHY DO YOU GUYS KEEP TALKING IN CIRCLES YOU KEEP GOING ROUND AND ROUND AND SAYING THE SAME STUIPED THINGS GET IT RIGHT LETS POOL TOGETHER A PLANE TICKET AND SEND SOME ONE TO IRAQ AND GET THE REAL ANSWERS

Great idea!!! We will buy the plane ticket and you fly over....just kiddin' hang in there we right there!!!

Originally Posted by NotSoFast

Ooooppps... my mistaken typo. I meant:

1472.5 IQD = 1Dollar today .....according to:

USDIQD=X: Summary for USD to IQD - Yahoo! Finance

Baghdad Time: 03:10am, 10/20/2006 ~ market is closed | $1 USD = 1470.63 IQD ^

Iraq resumes oil exports from Basra and Ceyhan

(Voice of Iraq) - 10-20-2006 Capitals-agencies - said navigational agent in the Middle East that Iraq has resumed oil exports from the southern port of Basra last Tuesday evening after poor weather conditions in stopping the anchoring of tankers in the previous day.
The agent said that the loading port is continuing at a rate of 66 thousand barrels per hour. There are now four tankers in ports.
Meanwhile, the NOC yesterday it resumed operations pumping oil from the Kirkuk-Ceyhan pipeline, which extends from the fields R. K1 after stoppage last week because of technical problems, filling reservoirs in the Turkish Ceyhan pipeline. Al Mahmoud hailed the center of the production department in the company said that the pumping operation was resumed on Wednesday evening at about 18 thousand barrels per hour and the total stock at the port of Ceyhan 15 million two hundred thousand barrels a rate of more than 300 thousand to 350 thousand barrels per day.

Sotaliraq.com