Thread: The Latest Negative News on the Iraqi Dinar...

If you have a point to make on the Dinar that may be contrary to the idea that "everything is coming up roses", feel free to post it here. I'm sure some will come visit you to argue their point. Everyone is to keep it to the facts and leave personal attacks and vulgarities at home.

Everwiser

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A statement by B.J. AL Zubaidi, the Minister of Finance, in which he said that he had suggested to the Chairman of the Central Bank, Dr. Sinan AL Shibibi, that three zeros be taken from the Iraqi Dinar in order to raise its value so that one Dinar be equal to a Dollar. He explained that the financial authorities were set on holding a meeting next month to discuss the matter.

I don't know but the way I read this is they want to take 3 zeros from the Iraqi Dinar, as I take it a 10,000 note would now be 10.00, a 1,000 note would be 1.00. It realy does not state that they are taking 3 zeros from the value, but are from the Dinar.
So if a 10,000 note is worth 10.00 US and the value of the note goes to 3.33 than the 10,000 note would be worth 33.30

Or am I just reading into this wrong.
I'd like to buy some more Dinar, but just want some clarification

Thanks