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Thursday, Nov 29, 2007 (MORE TO FOLLOW) Dow Jones Newswires November 29, 2007 08:50 ET (13:50 GMT) Thursday, Nov 29, 2007 AMMAN (Dow Jones)-The Central Bank of IraqCentral Bank of Iraq "The Central BankCentral Bank On Thursday, the dinar traded 1,230 dinars against the dollar, according to a trader in Baghdad. If the rebase decision is taken, it means that a dollar will equal only 1.23 dinars at current prices, the minister said. Currency rebasings usually are monetarily neutral and are introduced to make commercial calculations easier. Turkey knocked six zeroes off its lira currency on Jan 1 2005, for example. Before the U.S.-led invasion of 2003, the dinar was trading at 2,500 against the dollar. The Central Bank of IraqCentral Bank of Iraq (END) Dow Jones Newswires November 29, 2007 08:52 ET (13:52 GMT) |
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| Article originally published by Dow Jones Newswires 29-Nov-07 | |||
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| Abu Dhabi Investment Council | UAE | Investment Firms and Funds |
| Saudi Telecom | Saudi Arabia | Telecommunications Services |
| Abu Dhabi Investment Company | UAE | Investment Firms and Funds |
| Al Zarooni Group | UAE | Multi-line |
| Qatar Investment Authority | Qatar | Investment Firms and Funds |
| Consolidated Contractors Company | Overseas | Construction and Design |
| Al Rajhi Investment Group | Saudi Arabia | Investment Firms and Funds |
| Dubai Chamber of Commerce and Industry | UAE | Associations |
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| Qatari Diar Real Estate Investment Company | Qatar | Landlords and Developers |
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| Project Name | Country | Sector |
| IPIC - Abu Dhabi Crude Oil Pipeline (ADCOP) | UAE | Oil and Gas |
| Dubai RTA - Dubai Metro - Purple Line | UAE | Infrastructure |
| Qatar Foundation - Sidra Hospital | Qatar | Real Estate |
| Emirates Aluminium (EMAL) - Smelter Complex | UAE | Industry |
| Ras Tanura Integrated Refinery and Petrochemicals Complex | Saudi Arabia | Oil and Gas |
| Qatalum Aluminum Smelter | Qatar | Industry |
| ADCO - SAS Field Development | UAE | Oil and Gas |
| Nakheel - Dubai Waterfront | UAE | Real Estate |
| KNPC - Al Zour Refinery | Kuwait | Oil and Gas |
| Abu Dhabi Municipality - Salam Street and Mina Road Development | UAE | Infrastructure |
There is no truth in this article. It is sheer speculation, that`s all. [Report Abuse | Email to a Friend | Reply to this Comment]
we are intend to believe in probability more than speculative. or conspiracy....so we hope the truth will be revealed someday...so until that glorious day..keep on praying.. lolll!!!! god willing -the truth is out there- [Report Abuse | Email to a Friend | Reply to this Comment]
What diner money which now will be changed again? where me can commute for it? could in iraq embassy? [Report Abuse | Email to a Friend | Reply to this Comment]
This is not being covered in the media because it’s a non-story. 70 currencies have been lopped in the last 30 years or so. None of them were covered by the media… so why should this one be covered.
On the other hand. If this was fantasy land and a 120,000% increase in the value of the currency was to occur it would be HUGE news, because it has never before happened…and never will. LOL
Don’t worry dinar holders… as long as Iraq institutes a long enough exchange period, the dealers who sold you the dinars for a large mark up will gladly by them back from you for an equally large markup. Tell Shotgunsusie and the crew I said... "I told you so!!"
Sportslux... lol.. I love ya buddy.
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I don't understand this,,,,, if the dinar value increased due to the note changes, what happens to the current dinar? [Report Abuse | Email to a Friend | Reply to this Comment]
Interesting that there is no report to the Iraqi Public. What a charade!
This is clearly a attempt to stem the tide of speculative investment, before a reestablishment of value.
Right out of the IMF playbook. [Report Abuse | Email to a Friend | Reply to this Comment]
It is hard to understand from this article if the Iraqi Dinar is going to be worth 1.23 dollars or if the government is trying to adjust the prices of commodities and issue notes in lower denominations without affecting the actual value(purchasing power) of the Dinar.
Appreciate any insight anyone can provide on this. [Report Abuse | Email to a Friend | Reply to this Comment]
Why is no one else reporting this? [Report Abuse | Email to a Friend | Reply to this Comment]