7 Responses to “The Future for the Iraqi Dinar”

1. Dave says:

   November 3, 2010 at 11:43 am

   I would like to enquire as to where on earth could one deposit Iraqi Dinars in the Gulf (currently located in Kuwait) before the end of 2010. Are there any banks that would accept IQD with a GCC residence?
2. Liz says:

   November 8, 2010 at 1:22 pm

   Anyone that happens across this do NOT freak out when you read that you will have to trade 1000 old dinars for 1 new dinar;

   If you are exchanging for USD, you will trade 1 dinar hopefully for 1 dollar or more.
3. Editor says:

   November 8, 2010 at 7:29 pm

   Liz,

   thank you for your comment.

   Just to clarify, are you really suggesting that a redenomination (dropping the three zeros) would make holders of dinars 1,000 times richer?

   If so, can you point to any country where a redenomination has worked in that way?

   Best Wishes,
   Editor
4. Stew says:

   November 9, 2010 at 5:50 pm

   To the editor:
   Believe it or not, there are numerous websites were thousands of people are gathered who believe exactly that. They believe the delete 3 zero plan is a huge revaluation of the currency and they are soon to be millionaires.
   The delete 3 zero plan has been talked about for years now and all these people believe that Iraq is pre-announcing to the world their intention of a 100,000 to 300,000 % increase in the value. Yet you can still buy dinar for $850 per million from about 100 different sources.
   STUNNING!
5. Liz says:

   November 22, 2010 at 5:12 am

   Will try and reply when I get home from work, am running behind… thought I would leave this in the mean time:

   Trade agreements and currency and its impact on Iraqi economy

   (Voice of Iraq) – 22/11/2010

   By: d. Abdullah Ali Awad

   It has become among the fashionable and as an economic activity a natural question of the transfer of billions of dollars out of Iraq by private sector banks under the trade deals, and the bulk has not returned to Iraq in imports is needed by the Iraqi market, but turning part of them to the real estate companies and the other part remained balances reviews in foreign banks, and all this happened in the absence of strict financial control deliberately six years ago, and continued to this day without setting the parameters and controls (legislation), to prevent the sale of billions of dollars abroad, and directed towards development. Imports that the private sector for the past five years 2006 – 2010, according to official statements amounted to $ 180 billion! True it is possible to say, because of the economic blockade harsh, which made people sell every thing you own, in order to obtain a living, and after the fall of the Baathist regime of arbitrary, rushed the Iraqis after the rise in their purchasing power to acquire what they need in their homes and make up for what they sold in previous years, But my question is – how much is the share of imported technology from abroad of those billions? .. The answer is zero, nothing like that! Vleutbakt economic policy effective limit the dumping of the internal market, by raising the tariff increase Alگmrگip and rehabilitation of public sector companies and the agricultural sector through the financial allocations sufficient, for it was possible to allocate the bulk of the money leaks out to fill the shortfall in the annual budgets, which is ( chronic disease), which the government no longer able to get rid of it, which will be by 25 billion Dolarvi balance of 2011, but we find the allocations of the Ministry of Industry for the year 2010 is $ 72 million, and this amount is enough to qualify tenth factories belonging to the Ministry of Industry, therefore, the stalemate in the development of industry and agriculture, it was not spontaneous or stems from lack of experience, but a deliberate policy by some parties in power to protect the merchant class parasites, who make up the interface and sponsorship funds and operated in a commercial activity, and some traders are independent heads of their money paying royalties to some influential people in power in order to continue sabotage their business.

   The last trade agreements, concluded with the Turkish side, which provides for lifting of trade exchange between the two countries to $ 18 billion, but what will be Iraq to Turkey!! … Nothing at all, means more deals flooding the domestic market and the expansion and recovery of parasites merchants.

   In connection with the currency and deleting three zeros from Iraqi dinar, has been published and DVDs 8.9.2010 on my site civilized dialogue and the voice of Iraq, an article entitled [Remove zeros and raise the purchasing power of the Iraqi dinar] have shown my opinion at the time, but I want to clarify in addition to the deletion of three zeros is the following: -
   First – you must cancel the nominal current of the Iraqi dinar (1500 dinars = $ 1) developed by L. Paul Bremer III, and re-Face value: the former (1 dinar = 3.1 U.S. dollars), especially as we know that the cash reserves of strategic direct Iraqi currency had reached $ 50 billion , except the reserve is the direct and Danh in my article mentioned above.

   II – must not exceed the number of types of notes and paper-based JD seven papers, one of the categories (quarter of a dinar, half a dinar, dinars, five dinars, ten dinars, twenty-five dinars – the latter only be traded between banks only) – This rule is prevailing in the countries developed. The increase in types of Baknot lead to slouch a result of such currency and the loss of her rare and inflation. When you achieve the conditions mentioned, will increase the demand for the Iraqi dinar as the currency in foreign markets are rare and therefore its purchasing power will be enhanced.

   http://translate.google.com/translate?hl=en&sl=ar&u=http://www.sotaliraq.com/articlesiraq.php%3Fid%3D77545&ei=d-PpTNfQE8bwngehlK3mDQ&sa=X&oi=translate&ct=result&resnum=8&ved=0CGcQ7gEwBw&prev=/search%3Fq%3D%25D8%25A7%25D9%2584%25D8%25AF%25D9%258A%25D9%2586%25D8%25A7%25D8%25B1%2B%25D8%25A7%25D9%2584%25D8%25B9%25D8%25B1%25D8%25A7%25D9%2582%25D9%258A%26hl%3Den%26sa%3DX%26tbo%3D1%26tbs%3Dqdr:d%26prmd%3Divn

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