9/8/2013 Member of the Committee said economic and investment MP Jassem Mohammad shankali, the Iraqi dinar exchange rate against the US dollar during the coming period after the action by the Central Bank to strengthen it.
Shankali said that “the Iraqi economy is strong and the dinar is covered with a large reserve of hard currency, and this will give him strength and makes him immune from global economic shocks”.
“The new measures adopted by the Central Bank will support the stability of the dinar exchange rate and make better value against the greenback in the coming period.”
He noted that “the fall in the dinar exchange rate during the last period came as a result of mafias had manipulated and controlled the Central Bank auction and hard currency.”
Tlar: Pre RV 1166 = .00086 Post RV 1.16 = .86. 1.16 is what supposedly what the 2014 – 2016 budgets are based on according to news reports.
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Turki has told us that Iraqi’s will be happy and that friends of Iraq will be happy, about three weeks ago. They have said in an article they plan to delete the leading zeros.
The currency does not have leading zeros. Leading zeros are found on the nominal rate (exchange rate only). A friend just sent this to me;
Everyone knows that the issue we debate every single day a new article comes out is the issue concerning the translation of the phrase “delete the zeroes” and what it means.
I may have just stumbled upon something pretty remarkable yet so simple…let me explain.
The issue has never been one of translation but one of the true meaning of the translation. It got me to thinking about how to find out the meaning of the words in Arabic. So here is what I did…
Knowing that dictionaries give us the meaning of words, I thought about trying to look up the meanings of the words in Arabic. I went to dictionary.com and found the section where you can translate words and phrases from one language to another.
I set the translation parameters at “English to Arabic” and typed in the phrase “delete the zeroes” and hit translate.
What I got back was this ” حذف الاصفار”. I then switched the parameters from “English to Arabic”, copied and pasted the Arabic phrase “حذف الاصفار” and hit translate.
The result almost knocked me off my chair! The result was…”leading zeroes”!!!!
See, a translation in Google just tells us the English words but it doesn’t give us meaning…only dictionaries do! So the meaning of the phrase “delete the zeroes” is translated “leading zeroes”!
This is a game changer folks! This means the nominal value!
Every time they have been mentioning “delete the zeroes”, they have been meaning the “leading zeroes” from the nominal rate which turns .00086 to .86!!!!
You can try this for yourself folks by going to dictionary.com and following the above directions….”
We are close to the end of Eid Al-Fitr. A time when Muslim governments like to gift their people.