I Get By With Alittle Help From My Friends....
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I Get By With Alittle Help From My Friends....

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I know this is from last month, but help me understand it, please.

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Tom@3.86

Tom@3.86

Notice: IQD will be redenominated by the end of 2010. More on the Iraqi Dinar
1,000,000.00 IQD
=
856.4943 USD
Iraq Dinars United States Dollars 1 IQD = 0.000856494 USD 1 USD = 1,167.55 IQD
Trade Currencies. Click here!!



http://www.xe.com/currency/iqd-iraqi-dinar

Iraq, Dinar
The Iraqi Dinar is the currency of Iraq. The currency code for Dinars is IQD, and the currency symbol is د.ع . Below, you'll find Iraqi Dinar rates, a currency converter, Iraqi Dinar News and more. You can also subscribe to our currency newsletters with daily rates and analysis, or take IQD rates on the go with our XE Mobile apps for your iPhone, BlackBerry, or even your regular phone.

The Central Bank of Iraq has announced their plans to redenominate the Iraqi Dinar to ease cash transactions. By the end of 2010, they intend to drop three zeros from the nominal value of bank notes. It should be noted that the actual value of the dinar will remain unchanged. That means that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) will both be worth the same amount in US Dollars. As stated by the Central Bank of Iraq, their mandate is to "ensure domestic price stability and foster a stable competitive market based financial system." For more information about the redenomination, read "Iraq plans to slice three zeros off currency notes."




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)
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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

Panhead

Panhead
Admin

Already been addressed......and I'm still holding cash.

littlekracker



here's a good explaination.....https://dinaroutcast.forumotion.com/rumors-and-chats-f13/outcasts-lop-debate-t4182.htm

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