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Iraq Expects to Redominate its dinar currency

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1 Iraq Expects to Redominate its dinar currency on Fri Feb 12, 2010 8:08 am

w8tin


BAGHDAD, Feb 11 (Reuters) - Iraq expects to redenominate its dinar currency by knocking three zeros off the nominal value of bank notes to facilitate currency transactions, a central bank official said on Thursday.

Emerging from years of war and sanctions, Iraq is trying to revamp its economy and boost oil production with a raft of crude deals that may vault it to one of the world's top oil producers.

'The goal is to improve the payment and receiving system in the country and consequently to reform cash management,' said Mudher Kasim, a senior advisor at the central bank.

Iraqi payment systems rely almost exclusively on cash.

Kasim said that the central bank expected to start rolling out new notes by the end of the year or the beginning of 2011. Iraq has 25 trillion dinars in circulation, officials say.

An Iraqi cabinet committee ordered the change in 2007, but the central bank did not think it appropriate until recently, Kasim said. The dinar's value will remain unchanged, he said.

The local unit is managed through foreign exchange auctions, and traded hands at 1,170 per dollar at the last sale.

(Reporting by Aseel Kami; Editing by Jack Kimball and Toby Chopra) Keywords: IRAQ CURRENCY/

(jack.kimball@thomsonreuters.com; +964 7901 917 033; Reuters Messaging: jack.kimball.reuters.com@reuters.com)

http://www.xe.com/news/2010/02/11/951385.htm

**I have to admit I brought this from another place...I would really like to get opinions from some of those who seem to be able to decipher these articles better than others. I am not a 'lop' believer, but this info concerns me. Mrs. CK, Panhead, Windreader, Etc...any thoughts?

Thanks, w8tin

2 Follow-up on Fri Feb 12, 2010 9:46 am

w8tin


Ok...just a quick follow-up. I have never bought into the lop theory and am not trying to bring it up again...just thought some of the 'brighter' members here might have an opinion on this kind of article. I think it odd that this kind of article is coming out now....when I want to believe that we are ever so close to getting an rv..... Very Happy

Guest


Guest
I'll be back and reply when electric stops flickering

Rellek

avatar
Yeah i saw this last night also. XE.COM is really a great currency site, it's voted to be in the top 10 trusted currency sites on the web. I would like to see the original source for this article, but i'll take $.86 anyday....Can i have a HELL YEAH! Very Happy

w8tin


HELL YEAH!!!!!!!!!!

PEGME


ITS ABOUT TIME YOU PUT YOUR 2 CENTS IN W8TIN , STRANGER Very Happy

PEGME


GOT THIS FROM ELSE WHERE
Reuters Article NOT True

--------------------------------------------------------------------------------

OK everybody when I googled "BAGHDAD, Feb 11 (Reuters) - Iraq expects to redenominate its dinar currency by knocking off three zeros" ABSOLUTELY ZERO came up from Reuters -- only dealer websites. If Reuters printed this article show me the URL from Reuters and ONLY from Reuters regarding this article.
__________________
Scroll to the "Iraqi Case" - below link -
http://www.analysis-news.com/allfold...tanding-VI.htm

PEGME


I HAVE HEARD THAT R77 PUFFDADDY AND LAKE HAS BEEN POSTING BOGUS CHIT DUNNO IF TRUE THOUGH

PEGME


COULD THEY BE DOING THE LOP ARTICLES??

Guest


Guest
Most of these articles I don't find in any newspapers in iraq maybe I don't have the newspaper link they get them from...but iraq will not LOP!!!...nuff said

outkastjamz


PEGME wrote:COULD THEY BE DOING THE LOP ARTICLES??

LOL.....peg they don't have that kind of clout

http://ph.news.yahoo.com/rtrs/20100211/tbs-iraq-currency-955c2a1.html

http://www.xe.com/news/2010/02/11/951385.htm

PEGME


OTHER FORUM

ARTICLE IS BOGUS!

I just received this response from Reuters!

Your message cannot be delivered to the following recipients:

Recipient address: jack.kimball.reuters.com@reuters.com
Reason: Not found in directory



This email was sent to you by Thomson Reuters, the global news and information company.
Any views expressed in this message are those of the individual sender, except where the sender specifically states them to be the views of Thomson Reuters.


Action: failed
Status: 5.1.1 (Not found in directory)
Original-recipient: rfc822;jack.kimball.reuters.com@reuters.com
Final-recipient: rfc822;jack.kimball.reuters.com@reuters.com


He was supposedly the author or publisher of the article
(Reporting by Aseel Kami; Editing by Jack Kimball and Toby Chopra) Keywords: IRAQ CURRENCY/

(jack.kimball@thomsonreuters.com; +964 7901 917 033; Reuters Messaging: jack.kimball.reuters.com@reuters.com)

COPYRIGHT

Copyright Thomson Reuters 2010. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

PEGME


ARE you sure jamz ?

outkastjamz


Hell if I know but something is gonna go down in the next year so and we'll all get to tell the other side "I told you so"....LOL

Peg never sure when it comes to Iraq.....It is on xe.com

w8tin


Thanks MrsCk...love those' nuff said' responses!...hope your electric stopped doing whatever it was doing! Cool

Panhead

avatar
Admin
W*tin.....just look at it this way,
If Iraq was going to lop...again....they would have done that several years ago...
Why did the CBI go though all the hassle of IMF guidelines and procedures if they was going to lop?
I believe these are tactics to get the locals to utilize bank accounts and transform them from a cash society.....

w8tin


thanks panhead....as always i like your way of thinking!

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