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The Central Bank strengthens banks in local currencies of small groups


yota691
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Baghdad / Al-Ghad Press: 
The Central Bank of Iraq called for the need to preserve the local currency, pointing to the strengthening of local banks in local currencies of small groups. 
A source from the Central Bank of "Al-Ghad Press", said on Tuesday that "the bank calls for the preservation of the local currency and the strengthening of banks with small groups of local currency," pointing out that "the printing of the Iraqi currency and replace them cost amounts," calling on citizens to maintain and maintain Bank notes when trading ".
He revealed that "the Central Bank has announced a tender for the printing of new banknotes (small categories) at the international printing companies." 
The source said that "the Central Bank to pay cash from small groups to government banks and private banks have been distributed amounts given to banks during the month of November last year of the current (554,000,000) dinars (one hundred and fifty-four million dinars) category 1000 dinars and the amount of (202,500,000) Dinars (two hundred and two million five hundred thousand dinars) category of 500 dinars, "adding that" the Central Bank of Iraq pays to the Rafidain and Rashid Bank an amount of not less than (200 million) dinars (two hundred million dinars to change) in almost every withdrawal of its own assets.
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16 minutes ago, newbieDA said:

1000 IQD is worth 84 cents

500 IQD is worth 42 cents

 

probably cost more to print them

The last time I remember the cost to print one note was $1.06. The article doesn't talk about the 5,10,20 or 100s, but it doesn't say the 25,000, 10,000 or 5,000 were printed either. We are in the electronic currency age: for ATMs we won't, probably, see the 5 or 10s except on a very small basis.

 

 

 

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2 minutes ago, Half Crazy Runner said:

Many thanks yota! This is fantastic news! 

 

I honestly don’t know the actual cost of printing a 500 Dinar note, but I’m guessing it’s more than .42 cents..  🤞🏻

 

 

42 cents is the worth in USD, cost Carrello said was 1.06 cost

 

5 minutes ago, Carrello said:

The last time I remember the cost to print one note was $1.06. The article doesn't talk about the 5,10,20 or 100s, but it doesn't say the 25,000, 10,000 or 5,000 were printed either. We are in the electronic currency age: for ATMs we won't, probably, see the 5 or 10s except on a very small basis.

 

Edited by newbieDA
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2 minutes ago, Butifldrm said:

I'd like to see the $50.00 Dinar note back in circulation.  The CBI is calling these Lower Denominations, but the Denominations we want to see are $50 and  lower .  Alak needs to go!  He's printing more notes with little value.  :o

 

Honestly, I am surprised we made it this far.

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