Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content

  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

redenominated banknotes slated for July 2013

VIZIOIRAQI

By VIZIOIRAQI,
in Iraq & Dinar Related News

 Share

Recommended Posts

blueskyline Enthusiast

blueskyline

Posted
Posted

http://www.google.com/url?sa=t&rct=j&q=kuna%20kuwait%20to%20issue%20new%20banknotes&source=web&cd=1&cad=rja&ved=0CC8QqQIwAA&url=http%3A%2F%2Fwww.arabtimesonline.com%2FNewsDetails%2Ftabid%2F96%2Fsmid%2F414%2FArticleID%2F197152%2Freftab%2F36%2Ft%2FKuwait-to-issue-new-banknotes%2FDefault.aspx&ei=yI63UeezDcu30QHYvIHYDw&usg=AFQjCNEw_fPLsx8IZVkyLIVP3pAj-6-neA

I guess since kuwait is issuing new notes they are losing value too right ?

  • Upvote 1
Link to comment
Share on other sites
  • Replies 135
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

Popular Days

Popular Posts

MyLadiesDaddy
MyLadiesDaddy

Am I actually the only one here that clearly sees the word, redenominated , as simply   stating that these new notes simply have a lower denomination or number on them?    Instead of value to them

The Machine
The Machine

Because if lower value notes like 5, 10, 20 come out that means the rate has to rise ....... hopefully triple zero notes outside Iraq are taken at face value.....

VIZIOIRAQI
VIZIOIRAQI

Iraq discloses designs for redenominated banknotes slated for July 2013 Jul 21, 2012 08:17 AM Category: Middle East According to Iraq's semi-official Alsabaah newspaper, the finance committee receive

The Machine Newbie

The Machine

Posted
Posted

 

That all depends on the number on the note .....

  • Upvote 1
Link to comment
Share on other sites
VIZIOIRAQI Newbie

VIZIOIRAQI

Posted
  • Author
Posted

Maybe there sharing the same notes :lol:

Link to comment
Share on other sites
MyLadiesDaddy Grand Master

MyLadiesDaddy

Posted
Posted

There have been five issues of Kuwaiti currency notes since the introduction of a state legal tender on the matter in 1961. The fifth and current issue was released in 1994

 

http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/197152/reftab/36/t/Kuwait-to-issue-new-banknotes/Default.aspx

 

Wow, I didn't even know their was an Arab Times. Interesting read, and unless I'm not 

 

to mistaken the quoted statement shows what I was saying earlier. A note is not, legal tender,

 

until it has been issued by the state. Therefore, this article can in no way be talking about 

 

the value of the new dinar notes, only the fact that they exist. 

  • Upvote 4
Link to comment
Share on other sites
TQueezy Newbie

TQueezy

Posted
Posted

There have been five issues of Kuwaiti currency notes since the introduction of a state legal tender on the matter in 1961. The fifth and current issue was released in 1994

 

http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/197152/reftab/36/t/Kuwait-to-issue-new-banknotes/Default.aspx

 

Wow, I didn't even know their was an Arab Times. Interesting read, and unless I'm not 

 

to mistaken the quoted statement shows what I was saying earlier. A note is not, legal tender,

 

until it has been issued by the state. Therefore, this article can in no way be talking about 

 

the value of the new dinar notes, only the fact that they exist. 

But what would the numbers on the notes imply if not the supposed value when they are issued? I mean, no matter what way you slice it; a 50 dinar not is 50 dinars. Unless they change their basic fundamental unit of measurement for currency.

I mean... I just don't get your point really. The value of a currency is based on a number of factors, most importantly, it's relative value compared to a stable world reserve currency, like the US dollar. That's what stands to be determined upon issuance of the notes, not what heir face value numbers indicate...

Link to comment
Share on other sites
Boozer Newbie

Boozer

Posted
Posted (edited)

    Ok Im not sure what this has to do with anything, but could this be why the new notes might come out July. sorry  so small just right click. look at closing  date is 06/30/2013  

Edited by Boozer
  • Upvote 3
Link to comment
Share on other sites
Frogee Newbie

Frogee

Posted
Posted

Good to hear from you Sonny1. Everybody says how glad they will be when the ride is over, but I will truly miss visiting this site (many times a day) and ALL the people on it.  NOT that I could not use a good payday, "just sayin"

Link to comment
Share on other sites
JMULS31 Newbie

JMULS31

Posted
Posted

Wow, that's huge. They kind of have to RV there currency if here going to release the lower bills. Imagine trying to pay for a loaf of bread with coins or 5 dinar notes at the price it's at now? You would need a wheel barrel. Lol

  • Upvote 1
Link to comment
Share on other sites
icfaith Newbie

icfaith

Posted
Posted

Am I actually the only one here that clearly sees the word, redenominated , as simply

 

stating that these new notes simply have a lower denomination or number on them? 

 

Instead of value to them. Come on peeps work with me here,

 

The Iraqi Government formed a Committee to set the value of the Iraqi dinar

2013-06-10

Read more: http://dinarvets.com/forums/index.php?/topic/150997-the-iraqi-government-formed-a-committee-to-set-the-value-of-the-iraqi-dinar/#ixzz2Vw9q6H2B

 

The topic article tells us the notes are, and have been for a while, printed.

 

The second one tells us that the powers that be in Iraq are to determine the value. 

 

Why is it that some just don't want to see what is plainly before there eyes.

 

I definitely agree.  We have to look at who is running this.  We (the USA) is.  We did the same thing not so long ago with our currency.  When the value of a currency is lowered (which is raise in value against the US $) as what will happen with the Iraq currency and with what happened with our US currency not long ago, they will come out with currency with lower numbers.  We, the USA used to have a $500 and a $1000 bills and higher ones prior to these.  When the rate of value changed as what will happen in Iraq, meaning that the value changes from 1166 dinar = $1 to 1 Dinar = $1 then it is not necessary to have the 25,000 and 10,000 and 5,000 and 1,000 Dinar notes as most beside the very wealthy will have any need for these.  Hence the reason to print out Dinar notes like the 1 Dinar up to the 200 Dinar notes.  Everything in Iraq that is purchased will adjust to what the rate is.  This is not a currency that will replace but a currency that will be more accommodating for the situation of raising the value of the Iraq Dinar against the US Dollar. 

Iraq has gone to great lengths to purposely devalue the dinar on the streets of Iraq to make the citizens want to trade it in for the US Dollar.  Simple reason is the more the citizens turn in the Iraqi Dinars, these do not go back out on the streets.  They are destroyed.  Then when they raise the value of the Iraqi Dinar, the citizens will want the Dinar back and turn in the US Dollars.  Here is when they will give the citizens the new lower denoms which will be easier for the citizens to use and carry around just like the 1's, 5's, 10's and 20's that you carry in your wallet.  Even knowing there is still $1,000 US bills out there, just not really anyone needing to walk around with one or even feel safe to walk around with one.  And to this day you can take a $1,000 US bill to the bank and get $1,000 in smaller bills.  Of course collectors will pay you more for it as a collective item.

     This is why the Iraq citizens will receive the new lower denoms and the value of our larger dinars (25,000 and such) will still receive the value when it raises.  The new currency is not to replace but to enhance the economy.

  • Upvote 6
Link to comment
Share on other sites
staunch Newbie

staunch

Posted
Posted

Not trying to be negative, but if this article is a year old, how can anything stated in it be taken seriously? I mean, they change their plans 5 times a week so why would they keep the same plan from a year ago? Is there other more recent articles that lead us to believe they are still riding this train?

I'm with everyone else.......I just wish they would do something!

  • Upvote 2
Link to comment
Share on other sites
MyLadiesDaddy Grand Master

MyLadiesDaddy

Posted
Posted

But what would the numbers on the notes imply if not the supposed value when they are issued? I mean, no matter what way you slice it; a 50 dinar not is 50 dinars. Unless they change their basic fundamental unit of measurement for currency.

I mean... I just don't get your point really. The value of a currency is based on a number of factors, most importantly, it's relative value compared to a stable world reserve currency, like the US dollar. That's what stands to be determined upon issuance of the notes, not what heir face value numbers indicate...

 

Exactly, that is what they have been saying for yrs. What that measure will be is yet to 

 

be determined. But simply printing lower denominations in NO WAY implies whether they

 

intend to revalue or do what is commonly referred to here as L O P. When you consider the

 

article stating that they have now created a committee to find the value of the dinar, it seems

 

that even the ptb in Iraq don't know which way this will go. Though I strongly believe the

 

real power in charge of this does. That being the IMF, yet even they are just a tool in the hand

 

of powers and principalities.  

 

  • Upvote 3
  • Downvote 1
Link to comment
Share on other sites
Guest
This topic is now closed to further replies.
 Share
Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.


  • Testing the Rocker Badge!

    Take This Quiz

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.

  I accept