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Finance Parliamentary: the issuance of the two categories of 50 100 الف a first for the deletion of zeros


yota691
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Conscious / Finance Parliamentary: the issuance of the two categories of 50 100 الف a first for the deletion of zeros

24/05/2015 09:32 | Number of Views: 370

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Conscious / Baghdad / FS

He said the parliamentary finance committee member Masood Haider, said the central bank's intention to issue two categories of 50 000 dinars and 100 000, is a first for the removal of zeros from the Iraqi currency.

Haider said in a press statement transferred reporter (and the Iraqi News Agency Information / INA) , said that "the subject of currency issuance of fifty-class Alpha and the hundred thousand dinars, has been studied for more than two years, as the experts at the central bank they choose the category and protection where and what type So ".

He added, "This is a preliminary step to remove zeros from the Iraqi currency in the coming years", adding that "these two categories will facilitate the deliberation process of the Iraqi dinar exchange for hard currency."

He said Haider, said that "the project to delete the zeros still exists, and the central bank decided to issue fifty-class Alpha and the hundred thousand, and will be their experience and study how to deal with them in the Iraqi market," explaining, that "the allocation for the printing of Iraqi currency of the new budget, will be working on the removal of zeros in the coming years. "

Little, the Central Bank of Iraq announced earlier his intention to issue new editions in both categories of the 50 000 dinars and 100 000 dinars.

 

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Categories of 50 000 and 100 000 dinars a preliminary to delete the zeros of the Iraqi currency

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Baghdad-Iraq-Presse -24 May / May said the parliamentary finance committee member Masood Haider, on Sunday, that the issuance of central bank categories 50 000 100 000 dinars, and, soon, is to hold the first to remove zeros from the Iraqi currency.

 

Haider said in a press statement, that "the issue of currency thousand and fifty-class hundred thousand dinars, has been studied for more than two years by experts at the Central Bank chose the appropriate category and type design to protect them from fraud."

 

He added that "this is a preliminary step to remove zeros from the Iraqi currency in the coming years", adding that "these two categories will facilitate the deliberation process of the Iraqi dinar exchange for hard currency."

 

Haider said that "the project to delete the zeros still exists, the central bank has decided to issue fifty-class thousand and thousand percent, and their experience and study how to deal with them in the Iraqi market."

 

He said that "the allocation for the printing of the new Iraqi currency budget, will work to remove the zeros in the coming years."

 

The Central Bank of Iraq announced earlier its intention to issue new editions of the categories of the 50 000 dinars and 100 000 Danar.anthy (1)

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Deleting zeros means getting rid of all currency with 3 zeros. They already have s rate to use when they revalue. Once people start cashing in the 3 zero notes they eventually destroy "delete the 3 zero" notes and introduce lower denoms. imo

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Thanks Yota...All these 25,000 dinar notes that'll be cashed-in when the RV happens there has to be some check-point for accountability...If these larger notes are never allowed on the streets then counterfeiting on a domestic level would be useless...Each country can collect their 25,000 Iraqi Petro-Dinar as have all note DeLaRue'd  and replace with the larger notes and accounted for future use...  

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In the coming years, I remember they said that in 2012, wish I could find the article . This is not something NEW. Its all been said before.

Come Back Next Year and you will read the same :bs:

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I think on an international consensus the dinar value is already a Ball-park figure...The issue Iraq has is the Private sector's legal support in the eyes of the UN and WTO...Article 8 is bigger than what most folks give it credit for...

 

ya Skeet, I can see what your saying. I think the only thing Iraq has to do is maintain a 2% variance within the exchange rate for 90 days consecutive to become IMF Article 8. The longest was something like 71 days when they became eligible though. Thats when the currency goes tradable internationally.

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