Luigi1

CBI announces the in country rate.

74 posts in this topic

Actually, the story is more like this:

 

Parliamentary Finance: Central Bank starts this year … 13/04/2013 2:18 pm

said parliamentary Finance Committee, the central bank, according to correspondences official start of this year procedures deleting three zeros from the local currency, saying that it would lead to the development of cash transactions and economic international.

A member of the Finance Committee Abdul Hussein al-Yasiri Center Brief for the Iraqi Media Network (IMN) It “According Almkhtabat official with the central bank, it is supposed to start this year Balastaadadt necessary to delete three zeros from the local currency.”

and noted that “the local currency will reduce from four billion units to one billion units which will make there Anciabh in the process of the transfer of currency.”

and between Yasiri that “the Finance Committee supports changes to the local currency because of the importance of the country’s economic.”

The central bank says that the deletion of zeros comes within the plan for the development of monetary policy and the reform of currency management.

and was a member of the Finance Committee parliamentary Haitham al-Jubouri, had said in an earlier statement to him that “replacement currency and delete Ocefarha will features the best and the biggest decrease of the volume of inflation and revive the dinar due to lack of demand for the dollar, which comes positive aspects significant to the economy of the country, and replaced revive economy Alibd but needs political environment and economic environment for the implementation of the project without facing any obstacles lead to the deterioration of the currency Iraqi “was the Iraqi Central Bank has pointed out last August that plans to delete the zeros from the Iraqi dinar to facilitate financial transactions made ​​through cash in most cases.  Among the difficulties faced by Iraq if they are to foot the deletion of zeros from the dinar is withdrawn about 30 trillion dinars in circulation in the Iraqi market, then discarded and replaced with a new currency

 

If this is the article in question it says nothing about the exchange rate.  It's talking about currency reform, deleting zeros, replacing the currency, and facilitating financial transactions.  That's a re-denomination. 

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I was going to quit Drinking, im not now.

People will beleave anything, but, it's gettin closer to a R.V.

There slow people, they got alot to do, keep the fightin down,

everyone show up to vote, do it right and maybe we can put ya

in the 3rd grade next year. And for crying out loud get that sheet off

your Azz, you look rediculious, and comb your hair, the bee'z are going

to eat ya alive with that pillow case wrapped around your head.

For crying out loud...........

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I know that lol .... I dont take any guru seriously ....

 

What I was asking was , what or where is the article people are talking about

 

This statement is where the 4:1 came from: 

 

and noted that “the local currency will reduce from four billion units to one billion units which will make there Anciabh in the process of the transfer of currency.”

Read more: http://dinarvets.com/forums/index.php?/topic/146054-cbi-announces-the-in-country-rate/page-3#ixzz2QO87RGL8

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Then why hasn't the cbi.iq rate changed?   You are telling a white lie,,, or maybe I should say a big fat lie,,

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I just FARTED SO LOUD reading this news...I sure hope it's TRUE!!!

That's great... Thanks for sharing.

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From what I'm understanding of this article of you have a $100,000 Dinar you will only get $100 at turn in. If that's a true statement then this really did turn out to be a bad investment.

The average wage of Iraq is est. $5000 a year or 5,830,000 in dinar at 1166.  Remove the zeros and you have 5,830 dinar! That is not raising the value of the dinar and will not help the people of Iraq, nor us.  I'm not getting into a LOP debate, but that is "much to do about nothing."

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I just FARTED SO LOUD reading this news...I sure hope it's TRUE!!!!

 

 

I just **** all over myself.

I must change my Depends again.

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After reading some of these replies, I can not believe people still think if an RV occurs that the Iraqi people are going to "cash in" what are they going to cash in? Jeeze wake up!!

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Food for thought...........Can you imagine if you turn ordinary citizens into millionaires by the millions? Not to say they can't but it seems logical they are still gonna need people to sweep up the market after the next suicide attack. If you had millions of dollars would you go down there and sweep up? Not me either. Plus I bet we wouldn't be millionaires for long because of inflation and if a coke was 20.00 and a loaf of bread was 30.00........I guess we'll be alright. Just thinking out loud.

 

In Dubai that what they hire foreigners for. :twocents:

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the fact that people even consider a $4 to one dinar is just fascinating to me!!!!!

 

Fascinating to me as well. Dreamers I guess. I am a realist. People put your thinking caps on....

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the fact that people even consider a $4 to one dinar is just fascinating to me!!!!!

While it may be fascinating, I also find it quite sad...

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From a AngelQuest link...

 

CBI announces the in country rate $4 USD=1 IQD.

Int'l rate should be very close to that figure.

 

I think that is a misread.  The cited article's translation is about a LOP and a redenomination - and what also sounds like a 4:1 RV...but, when I really think about the context in which that bizarre statement is made of reducing 4 billion units to 1 billion units...I'm not sure it means a RV.  

 

Instead of a RV, I think they may be saying they are trying to go from having 4 billion pieces of paper currency in circulation to 1 billion pieces of paper currency in circulation.  That interpretation is more in line with the context, an interpretation about it pointing to a RV does not - especially because they did not say they were looking to increase - they said they were looking to reduce.

 

That is, of course, entirely dependent upon the quality of the translation - and makes me wish, yet again, that I could read Arabic.

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CBI announces the in country rate.

Started by Luigi1, Yesterday, 10:51 AM
 
 
i beg to differ !!!!! 
 
Currency Auctions Announcement No. (2355)

The latest daily currency auction was held in the Central Bank of Iraq on the 14-Apr-2013. The results were as follows:

Details Notes Number of banks 21 Auction price selling dinar / US$ 1166 Auction price buying dinar / US$ ----- Amount sold at auction price (US$) 204,399,000 Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 204,399,000 Total offers for selling (US$) -----

Exchange rates

Dollar's exchange rates / in Baghdad markets

ENUFF SAID!!!!!!   

 

 

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I was going to quit Drinking, im not now.

People will beleave anything, but, it's gettin closer to a R.V.

There slow people, they got alot to do, keep the fightin down,

everyone show up to vote, do it right and maybe we can put ya

in the 3rd grade next year. And for crying out loud get that sheet off

your Azz, you look rediculious, and comb your hair, the bee'z are going

to eat ya alive with that pillow case wrapped around your head.

For crying out loud...........

Racist comments...from Oklahoma. That makes sense.

You probably look redikulous too drankin' whisky out yur trailer...LOL

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From a AngelQuest link...

 

CBI announces the in country rate $4 USD=1 IQD.

Int'l rate should be very close to that figure.

:lol: :lol: :lol: :lol:

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Ill wait on ADAMS WORD, i still think 1 to 1, so there people are not confused.

Ill wait on ADAMS WORD, i still think 1 to 1, so there people are not confused.

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Its amazing people will believe anything.... Iraq hasn't rv'd, not in country, not out of country LOL LOL :confused2:  :confused2: 

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