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Iraqi Central Bank announced the issuance of a new currency


yota691
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2015-06-20-161329%D8%A7%D9%84%D8%A8%D9%8
16:13 
20/06/2015

Central Bank of Iraq announced on Saturday by the issuance of 50 000 dinars a class of local currency the end of this year, while the detection of his request to wait in the issuance of class 100 000 dinars.

The central bank said the province on the Keywords in a joint press conference with the President of the Federation of the depositary banks Handal, said that "in the past the bank issuing the currency of the highest category, has been studied this subject from all dimensions."

He Keywords that "he may be at the end of the announcement being printed 50 thousand dinars category," noting that "the 100 class probably will be released in another time and asked for delaying in order to avoid the occurrence of any inflation."

 

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A couple of weeks ago I made the decision to sell all of my dinar - I have felt for a while that this is not going

to happen as everyone expects.  IMO, they are going to bring out all new currency and not revalue as we all hoped.

As I said this is my opinion - there is too much that needs to happen in Iraq before it is stable. Hope I am wrong but

its been a long ride (bought mine in 2005) and I feel its time to get out.

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J p

Twilight News CBI / announced on Saturday by the issuance of 50 000 dinars a class of local currency the end of this year, while the detection of his request to wait in the issuance of class 100 000 dinars.

The central bank said the province on the Keywords in a joint press conference with the President of the Federation of the depositary banks Handal, said that "in the past the bank issuing the currency of the highest category, has been studied this subject from all dimensions."

He Keywords that "he may be at the end of the announcement being printed 50 thousand dinars category," noting that "the 100 class probably will be released in another time and asked for delaying in order to avoid the occurrence of any inflation."

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This is the same BS they have been saying about deleting the zeros.  In the coming days, soon, next month, at the end of this year, beginning of next year, blah blah blah.  It's been over 5 years since the deletion of zeros was supposed to occur and NOTHING!  JUST MORE TALK!!!!!!!!!  Stop reading too far into articles.  It's almost all agenda driven media, just like in the US.

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Don't shoot me down (or do, I don't care), but could it possibly be a plan to RV, give us time to cash in, calling in all the notes (including 25,000's), and then issuing the larger notes for internal banking.  Just a thought.

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Don't shoot me down (or do, I don't care), but could it possibly be a plan to RV, give us time to cash in, calling in all the notes (including 25,000's), and then issuing the larger notes for internal banking. Just a thought.

I like you.. A lot!

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All or none ! I am so ready ! They are not going to tell us anything until it's all over, they certainly don't want speculators buying or selling, that can have an effect on the market economy as well. So we wait either way I am done with Iraq, it's never going to make my bucket list. 

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All or none ! I am so ready ! They are not going to tell us anything until it's all over, they certainly don't want speculators buying or selling, that can have an effect on the market economy as well. So we wait either way I am done with Iraq, it's never going to make my bucket list.

Word

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We put ours in a safe place and forget about it.  It was money we had to spend if it doesn't happen oh well and if it does YAHOO.  We have no control over it so no use stressing over it, being negative, and just live your life as if it never was.  IMHO

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Don't shoot me down (or do, I don't care), but could it possibly be a plan to RV, give us time to cash in, calling in all the notes (including 25,000's), and then issuing the larger notes for internal banking.  Just a thought.

Well the bottom dinar is this: A new currency will not fix what it is they keep whining about, ranting about, and writing about, the exchange rate against the dollar. A new currency will not fix that. That wouldn't even be a part of the bandaid to fix that. imho

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jcfrag,

 

I would agree they certainly whine,rant and write about the exchange rate but what I've always found troubling is they only do it when the "Street" rate is out of control...

They seem ok with the status quo of 1166/1 when the street rate is within normal limits.

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They are okay with the status quo because they are getting rich off the status quo. Once they stop making money at 1166/1 then something will happen. If as some have projected that they want to be on par with the dollar, then the 25K note makes no sense. All of the major currencies are in denominations of (but not limited to) 10's 20's 50's and 100's. (Yes some have 500;s.) So if Iraq wants to be on par, then they would need to match these denominations by getting rid of the 25K notes and introducing the 100K and 20K  notes. Then when they do the thing that shall not be mentioned outside of the name that shall be mentioned forum then they will be on par with the rest of the world's denominations.

 

Note: Don't want to get into trouble by mentioning Lopping the zeros off outside the Lopster forum.

 

DOH!

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A couple of weeks ago I made the decision to sell all of my dinar - I have felt for a while that this is not goingto happen as everyone expects.  IMO, they are going to bring out all new currency and not revalue as we all hoped.As I said this is my opinion - there is too much that needs to happen in Iraq before it is stable. Hope I am wrong butits been a long ride (bought mine in 2005) and I feel its time to get out.

Just curious, if you sold all you had, WHY POST? AND WHY HOPE that you're wrong? I'm not understanding your illogic...

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