Deleting The Zeros???

[LUHRST32]

The Central Bank Of Iraq Are Deleting The Zeros 11/15/15

Alsumaria News / Baghdad

The Central Bank of Iraq, Sunday, that the issuance of 50 thousand dinars category paves the way for the deletion of zeros from the currency, and among it will reduce the demand for the dollar, he pointed out that there is no link to the financial crisis with the new version.
 
A member of the Board of Directors of the Bank Ihsan al-Yasiri in an interview with the program "a quarter of an hour," which aired Alsumaria TV, "The issuance of 50 thousand dinars category and think about the issuance of 100 thousand dinars category is a project that is not fortuitous, but put up since 2007," attributing the release as " there is a problem in banknotes sequence as the highest category of cash (25 thousand dinars) equal to $ 22 and are therefore inadequate for transactions. "
 
The Yasiri, that "the issuance of the new currency will facilitate a lot of transactions, and will contribute to reducing the demand for the dollar, at least in transactions," stressing that "no income for the government to issue category, not to project any connection with the financial crisis or deflation and inflation."
 
He explained Yasiri, that "issuance of 50 thousand dinars category, and our thinking by issuing 100 thousand dinars category is one of the preliminary steps for the project to delete the zeros", adding that "the project to delete the zeros needs to be action extends for more than a year."
 
On the other hand, stressed Yasiri, "not to the federal government's ability to withdraw funds from the reserve which is the cornerstone of the bank", pointing at the same time to "the existence of alternative solutions to the financial crisis experienced by the country."
 
The central bank announced (November 11, 2015) for issuing a new banknote category of 50 thousand dinars, attributing this to the completion of the Iraqi Securities monetary structure and the development of high value in the trading category.Link

 

 

Just sent to me by a friend who is invested. Anyone know if this is old news with a new date?

Thanks, LUHRST32

[Antietam]

Sounds like the same old rhetoric we have heard from Iraq since 2012. They canned that project in 2012 and I can't see a single thing that makes it more probable now. We do not want a cancelation of the zeros. That will reduce our profit by 1000%.

[Laid Back]

50 dinar note out of circulation..... New 50,000 note in circulation.

After deleting the 000's, the new 50,000 will be the new 50 note.

Also the CBI wants to put in circulation a 100,000 note... After deleting the 000's the new 100,000 will be the new 100 note.

RD or LOP...... No Bueno.... We all know that.!

RD don't increase purchasing power

RD is neutral event

Maybe the CBI RD and then RV/RI.... We just triple our initial investment

If the plan is to RD or LOP

Why all those Reserves in hard currency and gold?

Why reducing the note count?

Why reducing salaries?

People want more purchasing power.

The CBI is using misinformation and confusion to scare currency speculators.

Go Iraq

Go CBI

Go dinar

Go increase exchange rate

Go $1:1.13

[djgabrielie1]

50 dinar note out of circulation..... New 50,000 note in circulation.

After deleting the 000's, the new 50,000 will be the new 50 note.

Also the CBI wants to put in circulation a 100,000 note... After deleting the 000's the new 100,000 will be the new 100 note.

 

So I guess what you are saying, is that the 25,000 note will become a 25 note?

 

That would certainly piss off alot of investors and governments that hold 25k notes don't you think?

[Antietam]

They cannot do that ( 25 dinar=25,000 dinar) without a new ISO code. That takes time and education of their public. But they can declare a new lower peg than 1166. That would be a good thing.

[djgabrielie1]

They cannot do that ( 25 dinar=25,000 dinar) without a new ISO code. That takes time and education of their public. But they can declare a new lower peg than 1166. That would be a good thing.

Agreed that is the three zeros I believe that they are talking about. .00086.  I just wondered if that was the way LaidBack was thinking.

Edited November 17, 2015 by djgabrielie1

[Antietam]

But please remember, the CBI would not, in my opinion, drop all three zeros at once. That would have a catastrophic effect on the average iraqi citizen. Their currency would be worth a thousand times more overnight. I think the logical move is to make small, easily digestible changes in the peg, and every one of those would be good for us, especially if they don't touch the currency zeros we hold.

[djgabrielie1]

But please remember, the CBI would not, in my opinion, drop all three zeros at once. That would have a catastrophic effect on the average iraqi citizen. Their currency would be worth a thousand times more overnight. I think the logical move is to make small, easily digestible changes in the peg, and every one of those would be good for us, especially if they don't touch the currency zeros we hold.

I agree. However; many Dinarians I have seen on this site over the past 6 years see it as three zeros off the note or three zeros off the exchange rate. Seems like very few of us hold the peg philosophy. Certainly these rather obscure articles don't help clarify Iraq's intentions. Time will tell and I for one are willing to wait.

[sandfly]

I HOPE EVERY THING GOES THE WAY WE WONT IT TO