Hi just had a question, so lets say I have a 25000 dinar note and they delete the 3 zeros will the new printed 25 dinar note be worth the same as the 25000 dinar note or will the 25000 note be worthless? Also will the revaluation be in 2 to 3 years or will the re-denomination be in 2 to 3 years? I hear revaluation but there talking about re-denomination right? Please someone help me with this it's a little confusing.
Jordan : "Hi just had a question, so lets say I have a 25000 dinar note and they delete the 3 zeros will the new printed 25 dinar note be worth the same as the 25000 dinar note or will the 25000 note be worthless?"
In the short term, there will be a changeover with a time-limit (probably 3 months like last time) where they will be worth the same. In the long-term, once the time limit has ended, the old notes will be demonetized (taken out of circulation and declared non-legal tender).
And yes, the headline is confusing - a Redenomination ("LOP") will occur and has been repeatedly declared. Revaluation or "RV" is used mainly by the pumpers / and translation mistakes. The fact the Asian newsreader corrected herself by saying "redenomination" halfway through the video is an example. Shabibi (governor of the Central Bank of Iraq) has said in both Arabic and English that it will clearly be a redenomination. Some small-time Western traders however, are making a lot of money selling an "99,000% overnight RV" to amateur Forex newcomers, and pretending it's a unique event and "never happened before" which is complete nonsense:- http://en.wikipedia.org/wiki/Denomination_(currency)#List_of_currency_redenominations
Hi just had a question, so lets say I have a 25000 dinar note and they delete the 3 zeros will the new printed 25 dinar note be worth the same as the 25000 dinar note or will the 25000 note be worthless? Also will the revaluation be in 2 to 3 years or will the re-denomination be in 2 to 3 years? I hear revaluation but there talking about re-denomination right? Please someone help me with this it's a little confusing.
Why does this site report a 2nd hand news feed from "The Currency Newshound"??? Is there a tie into one of the scam artists sites selling Iraqi Dinar?
Jordan : "Hi just had a question, so lets say I have a 25000 dinar note and they delete the 3 zeros will the new printed 25 dinar note be worth the same as the 25000 dinar note or will the 25000 note be worthless?"
In the short term, there will be a changeover with a time-limit (probably 3 months like last time) where they will be worth the same. In the long-term, once the time limit has ended, the old notes will be demonetized (taken out of circulation and declared non-legal tender).
And yes, the headline is confusing - a Redenomination ("LOP") will occur and has been repeatedly declared. Revaluation or "RV" is used mainly by the pumpers / and translation mistakes. The fact the Asian newsreader corrected herself by saying "redenomination" halfway through the video is an example. Shabibi (governor of the Central Bank of Iraq) has said in both Arabic and English that it will clearly be a redenomination. Some small-time Western traders however, are making a lot of money selling an "99,000% overnight RV" to amateur Forex newcomers, and pretending it's a unique event and "never happened before" which is complete nonsense:-
http://en.wikipedia.org/wiki/Denomination_(currency)#List_of_currency_redenominations
The National Currency Re-Denomination Experience - A Comparative Analysis:-
http://www.investorsiraq.com/attachment.php?attachmentid=7782&d=1276800791