BBALL99

THE CENTRAL BANK OF IRAQ IS READY TO REVALUE THE DINAR

78 posts in this topic

The Central Bank of Iraq is ready to delete the zeros from the dinar

after the formation of the government directly

Posted: October 2, 2010 by Justhopin in Iraqi Dinar/Politics

The Central Bank of Iraq, Banknote Economic expert called for increased funds in central bank dollar and the reduction of import commodity because of its link the issue of the deletion of zeros.

Mahouelle’s (Citizen): The process of deletion must be matched by the power of currency

Said Dr Issam Mahouelle’s (Citizen) said yesterday that the process of deleting the zeros must be offset by increasing the power of the local currency to be considered at the highest levels of accuracy in choosing the appropriate time to inject a new currency.

Stressing that the issue is not the issue, but delete the zeros is the issue of currency of a country which can raise the value through the revitalization of internal and external trade balances and increase the dollar and the reduction of import. The Central Bank of Iraq has affirmed its readiness to delete the zeros from the currency after the formation of the government directly, pointing at the same time that those zeros that are added to the Iraqi currency during the past formed a cluster of large cash amounted to 27 trillion Iraqi dinars.

The adviser said the Iraqi Central Bank Governor appearance of Mohammed Salih in an interview with “Alsumaria News”, “The zeros that are added to the Iraqi currency, during the last period, formed a cluster of large cash amounting to more than four trillion paper money, financial value amounted to 27 trillion Iraqi dinars, after that was 25 billion dinars in 1980, “noting that” Iraq is unable to manage this block because it is a small country where the large number of funds that traded on the Iraqi market has led to confusion in transactions for large commercial banks and in the work. ”

The Iraq and gradually the issuance of new banknotes after 1991 when it began currencies are scarce in the Iraqi market for several reasons, most notably the high demand for them to meet the buying and selling as well as the smuggling of currency abroad, and to the north of Iraq, which split its time for the central administration, which made the Iraqi government allows Central Bank of printing new banknotes to meet the local need, and continued the process of lifting of the zeroes of the dinar to beyond 2003 through the issuance of a class of cash amounting to 25 thousand dinars.

Saleh added that “the Bank has fully prepared to delete the zeros of the Iraqi dinar, once forming the Iraqi government,” noting that “the deletion of zeros is a national issue and may need to special legislation, despite the fact that the Central Bank of Iraq is a reform of the currency management from the core work and to delete the zeros is one of the strategic functions of the Central Bank of Iraq. “

Saleh pointed out that “the Bank was able, during the last term, to reduce the level of inflation to the level of one decimal place, after more than twenty years,” noting that “Iraq has managed for the first time to reduce inflation to 3%, which reflects the success of the policy of the country’s monetary” . For his part, said economic expert on behalf of Jamil Antoine in an interview for “Alsumaria News”, “Iraq is not formatted for the time being to delete the zeros of the Iraqi dinar,” noting that “the deletion of zeros needed to stabilize the security and political, as well as economic stability.”

Antoine said that “the central bank by seeking to delete the zeros of the Iraqi dinar is designed to give moral force, not physical strength of the dinar,” noting that “the deletion of zeros needed to create and cultural awareness for the Iraqi people and the Iraqi market.”

The CBI, with headquarters in Baghdad, has four branches in Basra and Sulaymaniyah, Irbil and Mosul, and founded the bank independent Iraqi under the law of the Central Bank of Iraq issued on the sixth of March 2004, and is responsible for the maintenance of price stability and the implementation of monetary policy, including policies, prices exchange and management of foreign reserves and the issuance of currency management, as well as to regulate the banking sector.

http://translate.google.com/translate?hl=en&ie=UTF-8&sl=ar&tl=en&u=http://www.almowatennews.com

4

Share this post


Link to post
Share on other sites

just another recycled article from the past with a todays date.

Edited by kingcamera82
1

Share this post


Link to post
Share on other sites

"Said Dr Issam Mahouelle’s (Citizen) said yesterday that the process of deleting the zeros must be offset by increasing the power of the local currency to be considered at the highest levels of accuracy in choosing the appropriate time to inject a new currency."

Translation: Revaluation

17

Share this post


Link to post
Share on other sites

translation......LOP....sorry

Thank you for better explaining it Pheonix

Just pulled this artical from

http://another site.wordpress.com/

This is what removing the zeros will do to the currency

present Dinar value .000854

less the zeros .85 =Revaluation to whatever the current economic wealth of the country is.

7

Share this post


Link to post
Share on other sites

"Said Dr Issam Mahouelle’s (Citizen) said yesterday that the process of deleting the zeros must be offset by increasing the power of the local currency to be considered at the highest levels of accuracy in choosing the appropriate time to inject a new currency."

Translation: Revaluation

the way i read it was that they get a new currency with increased power..so my take is yes an rv but a redenomination at same time.....let me state i dont want this but thats the way this recycled article states it. the cbi has also had plenty of articles saying the word redenomination...maybe smoke maybe not jmho

-2

Share this post


Link to post
Share on other sites

Thank you for better explaining it Pheonix

Just pulled this artical from

http://another site.wordpress.com/

This is what removing the zeros will do to the currency

present Dinar value .000854

less the zeros .85 =Revaluation

its removal of the zeros from currency...not the value of the currency.

0

Share this post


Link to post
Share on other sites

DIDN'T I READ THIS WEEKS AGO ?? SOUNDS LIKE THE EXACT SAME NEWS POST? I MEAN IT COULD BE A GOOD THING BUT IT IS REALLY OLD NEWS ON A OLD SUBJECT. I AM A NEWBIE OF ONLY A FEW MONTHS BUT HAVE BEEN READING ABOUT THIS INVESTMENT DURING MY RESEARCH FOR OVER A YEAR. THE SUBJECT OF THE ZERO'S HAS BEEN KICKED TO DEATH WITH ZERO CONCLUSIVE ANSWERS OF WHO ,WHEN, OR HOW IT COULD BE DONE SO TO ME AND MY RESEARCH IT IS A MUTE POINT.Rev Dan

0

Share this post


Link to post
Share on other sites

its removal of the zeros from currency...not the value of the currency.

No sorry, Its the removal of the currency with the zeros

and the revaluation of the currency with the introduction of

smaller denominations.

0

Share this post


Link to post
Share on other sites

Thank you for better explaining it Pheonix

Just pulled this artical from

http://another site.wordpress.com/

This is what removing the zeros will do to the currency

present Dinar value .000854

less the zeros .85 =Revaluation to whatever the current economic wealth of the country is.

Could they be talking about Removing just the Large Bills with three zero's on them. Much like the US removing the $1,000.00 note we once had in circulation? and then revaluing to a rate closer to those of their Neighbors, Kuwait-Jordan Saudi Arabia. Answer's or opinions welcome.

1

Share this post


Link to post
Share on other sites

No sorry, Its the removal of the currency with the zeros

and the revaluation of the currency with the introduction of

smaller denominations.

lmao...thats what my post said before that...your other post said taking off the 3 zeros from the value which is not what the article says at all. it says removal of the aeros from currency which is removal of the gig notes such as 25,000 and 10,000....learn to read

-3

Share this post


Link to post
Share on other sites

I have to agree this post is outdated. And lop is not such a bad thing.people will still make out.

0

Share this post


Link to post
Share on other sites

Thank you for better explaining it Pheonix

Just pulled this artical from

http://another site.wordpress.com/

This is what removing the zeros will do to the currency

present Dinar value .000854

less the zeros .85 =Revaluation to whatever the current economic wealth of the country is.

Thank you for putting this in blonde terms I finally understand the removing the zeros

0

Share this post


Link to post
Share on other sites

Just Posted on

another site.wordpress.com/

lol i could care less just posted that on their website....its been posted here before that so do some research before you respond...this same article has been posted here already a few times

Edited by kingcamera82
0

Share this post


Link to post
Share on other sites

either way my fellow Dinarians, I am glad to have a Warka account.

We will be wealthier than we are now and soon.

1

Share this post


Link to post
Share on other sites

Thank you for putting this in blonde terms I finally understand the removing the zeros

he is wrong...thats not what it means...the article says removal of zeros from currency and not the value.....so it means removal of the large bills.

2

Share this post


Link to post
Share on other sites

lol i could care less just posted that on their website....its been posted here before that so do some research before you respond...this same article has been posted here already a few times

Link Please, since you did the research. thanks

2

Share this post


Link to post
Share on other sites

Thank you for better explaining it Pheonix

Just pulled this artical from

http://another site.wordpress.com/

This is what removing the zeros will do to the currency

present Dinar value .000854

less the zeros = Revaluation .85

Hey...there's your 3 zeros!!! That's a place to start.

My take on this is... until Iraq can produce a working Model of this,

with-in the country of Iraq....then, why would the entire World just jump on board.

Let's try and remember...this RV can happen "inside Iraq" at any time....

with or without IMF, World Bank, Forex and such. And, most likely will!!!

And they will start with the basics....Getting rid of those dang ole 3 zeros...!!!!

Am I totally out in "left field", Or What!!!

If I never have to hear that again, It will be way TOO SOON......Right Amigos!!!

1

Share this post


Link to post
Share on other sites

Link Please, since you did the research. thanks

you dont need a link just look at the news section on here...more than one person on here already stated this is old and has been on here before.

0

Share this post


Link to post
Share on other sites

"Said Dr Issam Mahouelle’s (Citizen) said yesterday that the process of deleting the zeros must be offset by increasing the power of the local currency to be considered at the highest levels of accuracy in choosing the appropriate time to inject a new currency."

Translation: Revaluation

He just detailed it to you here. The detetion of the zeros and the increase in value will both happen simultaneously which will be the RV. It doesn't matter if its old news or new news, the fact that it is ready to happen directly after the formation of the government is great news!! Everyone asks this question every day, "How do we know the RV will happen after the GOI is formed", so here it is. Whether you've read it before or are just reading it for the first time its great news.

2

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.

  • Recently Browsing   0 members

    No registered users viewing this page.