Posted 24 March 2012 - 12:48 PM
CBI Source: reveal the intentions to raise the value of each Iraqi Dinar to $1 usd per IQD
21-03-2012 07: 48 pm
Detected by a source in the Iraqi Central Bank are four companies currently competing to win a print project which will generate new Iraqi dinar after deleting three zeros graceful, with the Central Bank will raise the value of the dinar against the dollar gradually towards the day to begin replacement where the value will be in the absence of a wiggle one equivalent of IQD one US dollar.
The source said the Bank noting blockbuster to buy hard currency auction sponsored by the Central, to sell the dollar worth less than the previous 3, 4 points, with the imposition of conditions of purchase to prevent exploitation of the market to meet the demands of neighbouring countries which suffer from economic sanctions and the devaluation of their national currencies, to rebalance local market which saw and by the rapid fluctuations in prices stated dinar, noting that everyone knows that the Central Bank has succeeded Actually raise the value of the dinar is a thoughtful and intelligent since 2003 until now that was the dollar equivalent of 240 dinars, but now the price has risen to 1120 per dollar, this is one of the most important tasks of the Central Bank, which is responsible for monetary policy in the country, and one of the most important endeavours is to raise the value of the national currency to achieve higher purchasing power of the Iraqi citizen.
The Iraqi Central Bank, announced yesterday, on its dollar-buying and selling at the price 1166 during the auction, hosted by dinars per day with the participation of 23 banks, after that was sold and purchased at a price of KWD 1,170 to the dollar.
Deputy Central Bank Governor Mohammad Saleh appearance in media», «Bank worked to raise the price of the Iraqi dinar against the dollar during the sessions for the sale and purchase of foreign currencies by four dinars and 3.4% to 1166 dinars per dollar», stating that «nominal dinar is not commensurate with the PPP or the real price of the dinar exchange rate dollar».
Saleh said «current account payments for Iraq surplus ratio to GDP and 5.8%», «surplus is rather force index in addition to the existence of large reserves of the Bank» for the «dollar exchange rates in Iraqi markets that have seen recent slightly influenced the decision of the Central Bank of Iraq», saying «Iraqi dinar would be attractive in Iraqi markets».
Deputy Central Bank Governor Mohammad Saleh appearance earlier this year on the endeavours to win the approval of Executive and legislative power to put forward three major categories after deleting three zeros from the Iraqi dinar, noting that the process of replacing the currency take two years.
While Saleh (6 January 2012) rising Iraqi Central Bank reserves of foreign currency to 60 billion dollars, for the first time in the history of Iraq, while confirming its ability to curb inflation if it arrived two scales decimal places, consider that current levels are of concern.
The Central Bank of Iraq is being daily sessions for the sale and purchase of foreign currencies with the exception of official holidays during which those auctions.
The appearance of Mohamed Saleh (citizen) confirmed that the block size to be printed soon cash consists of 28 30 billion dinars, with the currency currently reaches more than 32 trillion dinars, you measure the size of the altrshik which runs on the national currency, the size of the benefits of this project in terms of drag reducing inflation and other monetary quantity.
Source revealed in an interview for (citizen) that a new currency would be like a mirror reflecting the history of Iraq co. will be even better than print the dollar, and falsification impossible, and would hold the technical properties and aesthetic and Iraqi national benchmarks in telling the story of civilization and achievements since the dawn of history, as well as bilingual Arabic and Kurdish would be charged as the text of the Constitution added English as a global system applied in all countries of the world.
The categories will be equal between metal and paper where will class (25, 50, 75 and 100) dinars a metal categories 5, 10, 25, 50 and 100 dinar banknote.
In order to highlight the history of Iraqi currency was used in an integrated manner has been typed competent engineer Mahmoud Shaker Al-Rubaie who was able to document the history of dinar in this country since its inception and until now:-talk about Iraqi currency and large and is linked to the unstable political conditions experienced by Iraq which led to the entry of foreign currency of the occupied country policy, when Iraq was under Ottoman control, (exist) is the currency in the deal has been designated as such currency relative to the Sultan Abdul Majeed's father Sultan Abdul Hamid, and parts as is (الاقچه and the kind) and continued to deal in English until the entry as Ottoman in 1917 and grab the Ottoman control of the country since enter English (Indian alrabea) as alternative currency in dealing and trading and parts (softened him) and the new currency usually expel the old currency. Thus ended the Ottoman currency trading after they entered Indian market alrabea and why trading in Indian English alrabea albaon allowance due to most of the English troops occupied Indian Sikhs are walkerkh. and after that crystallized when the English idea creation (Kingdom of) in Iraq and talk about one of the fellas Sharif Hussein carry out this task and this happened on 23 August 1921 as crowned Faisal/son of Sharif Hussein, King of Iraq this political transition that is reflected at all levels and Find a currency change. It began pumping new Iraqi currency called (the Fils) this word is of Byzantine and consists of a small circle of copper in the central category number and below the word Fils on Iraqi Kingdom Chamber and on the right to the left of the Hijri and Gregorian date flip side image of King Faisal I of Iraq written on it on the right and left Faisal I. With (the Fils) continued (alrabea Indian) trading until October 1932 deal was canceled.
After (the Fils) coin is issued (spline) and with the same specifications of the Fils, but larger than a little then emerged (pubis), Fluss is equivalent to four currency English (Brown) and is part of albaon and continued up through categories, featured ten Los, a copper and 20 Fils and called (the Koran) and Dirham and Fils equals 50% Fils emerged later and 200 Fils known as (Rial) and equivalent (shilling) coin English and is made of pure silver and the image of King Faisal I and the other three palms Engraved on a tree branch and is relatively large in size, ten years after the coronation of King Faisal I Iraq currency board was established in London in 1931, Act 44 of the same year, which printed banknotes in 16th March 1932 saw first light with a picture of IQD King Faisal I on the right and top Iraqi Kingdom name and category number in the middle is written in Arabic and the other in English, where the British company (dolarwa) as well as printed dinar The paper was printed in small groups (quarter to half) in India and started the Iraqi dinar Indian according to expelled alrabea referred to rule until the deal was terminated in October 1932.
The Iraqi dinar equals 1,000 Fils as well as five dinars were printed order and 10 dinars and then subtracting order cent dinars.
With the evolution of political events and specifically on 26/November 1934 the new dinar emerged carrying a picture of King Ghazi, this happened after the departure of King Faisal I soon changed this image to be replaced by a picture of King Faisal II in late 1939 when the departure of King Ghazi. Iraq has its Council continued the printing of Iraqi currency until the issuance of law No. 43 of 47 which was founded (the Iraqi National Bank) and specifically in July 1947 to embrace the subject with the Iraqi currency printing This Bank has been dispensed with the currency board and rescinded in 1949, after several years, specifically the 1956 Act 72 whereby the Iraqi National Bank changed its name to the (Central Bank) has not changed form Iraqi currency and continued printing until 1958 by the Republic of Iraq and the emergence of leader Abdel Karim Kassem in custody occurred many amendments to the currency notes and coins as three kings pictures lifted from each currency and replaced (the Republican logo) new 8 1958 and access Many variables on the coin which abolished class (the Fils) and Fils (pubis) (five Fluss) and popular leader salutes alhossa on his work (lived leader Elly Zeid pubis ... Fils ...) as well as cancelled (the Koran) and is 20 Fils and replaced (25 Fils) while retaining the dirham and Fils and cancel% (riyal) which equals 200 Fils, as for paper currency, the class cent dinars have been cancelled and keep the rest of the paper with the addition of categories icons such as Iraqi (Palm and Derbandikhan and Dokan dam and Fort Ukhaydir and filtered query session and waterfall your holistic and humpback and Basrah silo lighthouse and the twisted and bull and lion of Babylon and PFM saddat Al-Kut and the guitar and Obelisk Hammurabi unchanged currency format only slightly until the revolution of 17 July 1968 and began raising the banner of the Republic replaced the above-mentioned Iraqi symbols.
With the beginning of the 1980s coin began to emerge to replace paper-based small groups popping up 250 Fils for quarter dinars and 500 Fils versus half dinars, 1000 Fils l.d Iraqi Central Bank also issued gold bullion for categories (gold dinar and five dinars and gold 10 dinars) and sold to the prevailing price of gold for a short period, and in the mid-1980s began (trshik) size of banknotes from IQD quarter to 10 dinars and more characteristic of this stage is the emergence of order 10 JD and the image of Hassan ibn al-Haytham big world that had people that this currency is not Iraqi ...!! With the deterioration of the political situation and the decline rate of the dinar against the dollar, the Government proceeded to reprint a new class no. 25 dinars and first point of Arabic horses picture and the other side is for the category currency after a picture of former Iraqi President Saddam Hussein rather than Arabic horses and this category were printed in Russia and in August 1990 Iraqi policy development cast a pall over the country generally and opaque currency particularly imposing (economic policy) by America and its allies which led to the disappearance of the original currency for each Categories and the emergence of currency printed by presses of newspapers and newspapers are locally weak and frail universally applicable controls. With years of blockade and print size less dinar against the dollar even arrived in 1995 to 3,000 dinars to the dollar which produced tons of locally printed currency. monetary policy started losing balance due (prosthetic currency) for the purpose of controlling inflation began printing previously undefined categories such as fifty-one hundred dinars with a new unknown soldier and hours Baghdad, on the one hand, and a picture of Saddam Hussein on the second category of the (one) hundred and then 50 dinars, bearing the image of President Also not withstand such papers ... cash to dollar with printed locally even looked miserable and worthless scale deprive of her prestige ... And continued in 2002, a new category was issued a paper (10000) dinars to absorb inflation the big hit and the limpness Gorge currency but to no avail.
Click Here or Click 10,000 IQD Note :
to view other Iraqi Currency Notes...
After more than three years on the policy of blockade and the advent of coalition and the occupation of the country by the United States and set the Civil Governor (Paul Bremer) which started to amend the laws of Iraq as he deems it if adopted the law numbered 73 Central Bank for the year 2004 the rate and currency printing new currency Iraqi dinar dependence of the Republican form and change the category into line with the corresponding currency printed locally if adopted form to 250 dinars dinar quarter and half becomes 500 IQD dinar 1000 dinars and also becomes the five and 10 dinars become 5,000 and 10,000 dinars with the introduction of new class (25000) dinars to absorb the massive inflation is monetary in nature red coin was an instrument of class 100 dinars and 50 dinars and 25 dinars but not activated widely due to conditions of inflation and price increases have begun to replace the currency by 2004/10/1 until 2005/2/28 and the continued circulation of the above-mentioned currency to this day and talk about the Government's intention to Delete the three zeros from the Iraqi dinar to reach levels comparable with foreign currency exchange rates and to return to its glory of the Iraqi dinar and weight healthy beautiful green buckets...