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

Originally Posted by AlwaysDreaming

if this is the case where it says 1usd = 1000 dinars, that's the same as a zero lop, which has recently been posted was a suggestion from the ex-minister of finance. AND that it had been decided that it would not happen.

No, it means a substantial increase in the value of the dinar against the dollar in 2006.

If the value of the dinar goes from 1470 or about $680.00 USD to 1000 or $1000.00 USD per million then that is a very substantial increase for 2006.

No zero lop at all.

25 Dinar= 2.5 cents
50 Dinar= 5 cents
100 Dinar= 10 cents
250 Dinar= 25 cents
500 Dinar= 50 censt
1000 Dinar= $1.00 and so on.

About The Saudis' Oil Running Out, Read The Book "twilight In The Desert". It Explains That The Saudis Do Not Reveal Their Output Of Oil But From Tanker Data, Their Fields Are In Decline, As Are Fields In China, Asia And The North Sea. Iraq Is Sitting On A Gold Mine(or Several). Makes You Wonder Why All The Fighting.

The prime minister-Press release

(Voice of Iraq) - 11-22-2006
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The name of God the Merciful
The Republic of Iraq


Prime minister
Media Bureau

Press statement
Wednesday 22 / 11 / 2006

The Committee met for the Supreme Aemarmedinh Samarra led by Prime Minister Nuri Kamal al-Maliki official in his office today to determine the priorities of work and a direct steps rebuilding of the two imams Almerkdin sacrosanct military them peace and the city of Samarra into effect.
The Committee discussed the issue of security and protection of the road to Baghdad-Samarra through a special force of the Ministries of Defense and Interior to carry out this responsibility in order to direct the reconstruction of the city's comprehensive.
, Informed the Committee agreed to work according to two phases : The first relates to the lifting of the rubble, while the second phase design using specialized committees of UNESCO and the Ministry of State for Tourism and Antiquities. The Committee also discussed the opening of a special account for those wishing to donate in a number of Arab and Islamic capitals and the rest of the world.

Maysan Governorate Council decides to fine absent members

(Voice of Iraq) - 11-22-2006
This issue was sent to a friend
Maysan Governorate Council decides to fine absent members from sittings
By Nizar Abdel-Wahid
Maysan - (Voices of Iraq)
Ali Kadhim behind the vice president of the Maysan Governorate today, Wednesday, the Council issued a decree provides for the preservation of any of its members fined the amount of 50 thousand dinars in the case of his absence from the meetings of the Council.
His successor News Agency (Voices of Iraq) Independent today : "The decision taken by the Council after its penultimate yesterday that the situation has become member absent from the meetings and weekly meetings noticeable phenomenon caused confusion in the work of the Council, particularly in the aspects of the work of the committees and the decisions that need to vote members."
For his part, the Council member Mohammad maintain broadly used cactus "that amounts to be deducted will go into a bank account to be distributed to needy families in the governorate."
It is noteworthy that the number of members of the provincial council of 41 members representing the political parties and movements in the province, was elected in the January elections in January of last year.
H a p-n

If you look at todays Auction it was way down, and they only moved it to 1444 right now. If they move it to 1000 I think It will help control inflation for now. A slow rise up is what we want, That way they introduce smaller denoms, If they did a Huge increase at once it would be chaos.

Originally Posted by Inscrutable

No, it means a substantial increase in the value of the dinar against the dollar in 2006.

If the value of the dinar goes from 1470 or about $680.00 USD to 1000 or $1000.00 USD per million then that is a very substantial increase for 2006.

No zero lop at all.

25 Dinar= 2.5 cents
50 Dinar= 5 cents
100 Dinar= 10 cents
250 Dinar= 25 cents
500 Dinar= 50 censt
1000 Dinar= $1.00 and so on.

I am new so correct me if I am wrong, but it seems to me that it sounds like a zero lop. Not here to make waves just trying to understand.

Originally Posted by CharmedPiper

Maysan Governorate Council decides to fine absent members

(Voice of Iraq) - 11-22-2006
This issue was sent to a friend
Maysan Governorate Council decides to fine absent members from sittings
By Nizar Abdel-Wahid
Maysan - (Voices of Iraq)
Ali Kadhim behind the vice president of the Maysan Governorate today, Wednesday, the Council issued a decree provides for the preservation of any of its members fined the amount of 50 thousand dinars in the case of his absence from the meetings of the Council.
His successor News Agency (Voices of Iraq) Independent today : "The decision taken by the Council after its penultimate yesterday that the situation has become member absent from the meetings and weekly meetings noticeable phenomenon caused confusion in the work of the Council, particularly in the aspects of the work of the committees and the decisions that need to vote members."
For his part, the Council member Mohammad maintain broadly used cactus "that amounts to be deducted will go into a bank account to be distributed to needy families in the governorate."
It is noteworthy that the number of members of the provincial council of 41 members representing the political parties and movements in the province, was elected in the January elections in January of last year.
H a p-n

I bet those being fined hope for a lop..... fine of 50 bucks ..... probably more expensive to get a parking ticket!!!

Originally Posted by Elfwizard

If you look at todays Auction it was way down, and they only moved it to 1444 right now. If they move it to 1000 I think It will help control inflation for now. A slow rise up is what we want, That way they introduce smaller denoms, If they did a Huge increase at once it would be chaos.

I vote for the latter....come on 1.47 now!

Originally Posted by worf

Has anyone figured out how much of a move the dinars need to make before we start seeing the introduction of the lower denoms? ie does it need to go down to 1 usd = 1000 dinars or something in that neighborhood? I am sure they must have some sort of forumla, I just don't know what it is.

worf

Good question,

No doubt, we know the old currency was in place for years, and this was when value of dinar was $3.00 plus to the low of .31 when Saddam was overthrown, so we know the range that the lower denoms served.

When you talk with Iraqi's, you will learn that they are creatures of habit, just like most of us, so with that thought, the same denoms will more than likely be reintroduced as before. When they mention the introduction, as needed, this means it depends on revalue, this seems obvious, so in my opinion, we can expect to see a minimum of the .31 to reintroduce the old denoms. Reading between the lines, this is how I see it.

I also feel they will reintroduce the same denoms as before, in fact, they know that none of the small denoms were ever counterfieted, so this would make common sense to bring these back as needed. The smaller notes which did not have reference to Saddam's mug on them would be ideal to for this purpose reintroduce, as needed. The 5 dinar note came both ways, with Saddam and without, so my guess this would be one of the reintroduced notes, along with 1/4, 1/2 and 1 dinar notes. We'll see.

Good luck to all, Mike

Originally Posted by AlwaysDreaming

I did not lead him in the story in any way, I asked that he read exactly what it said and his interpretation of that part was they are talking about making 1000 dinars equal to one dollar. The other parts of the article are how we are translating them.

So if for now they make it 1000 Dinar equal to one dollar they will need to use 100 dinar coin for 10 cent transactions, 25 coin for 2.5 cent transactions and will need to add fils for pennies.
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if this is the case where it says 1usd = 1000 dinars, that's the same as a zero lop, which has recently been posted was a suggestion from the ex-minister of finance. AND that it had been decided that it would not happen.

Definitely no lop and no reprint!

You can also read it as that they will make from 1000 dinars, 1 USD.

What means that at the current rate of 1,444 it would be $ 1.444