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Showing results for tags 'From the CBI itself'.
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Read down to line 8. This is from The CBI via The Iraqi Journal. They have reached the 4 billion dinar in circulation goal, down from 9 billion, which was down from the original 30 billion notes in circulation. Their final goal is 1 billion dinar NOTES in circulation. Boom in your face nay sayers. What did they do with the value the IQD held when it had 30 billion IQD notes in circulation? Plus a greater amount of USD competing with the IQD in country. Been stuck at 1160 per 1 USD forever. The remaining IQD notes in circulation should be what, 26 times more valuable than they are right now? I don't know. I am tired and don't want to do the math. They would be carrying a higher value of some amount if the GOI and the CBI were not manipulating their IQD ... to rebuild their infrastructure on the cheap. The flood of steps in the right direction, Iraqi politics, the recently announced plan to implement tariffs on a number of certain goods, are all building up pressure behind the damn. How much more pressure can it hold before it bursts out on its own to the GOI's detriment? After all they have done, I would hope they would want to control its release to their benefit, verses dealing with its aftermath. This investment/speculation has to increase (RV/RI) in value soon I would pray. Enjoy. Debate over dropping zeros will take place after 2014 government takes officePosted by Iraq News Journal on Dec 16, 2013 | Leave a Comment Migrate project to delete the zeros to the next government Parliamentary Finance Committee confirmed the deportation of the project to delete the zeros from the national currency to Iraqi custody next year, any new government after the elections, and said that the implementation date will remain postponed until now.The MP said Abdul-Hussein al-Yasiri for «future» yesterday that the process of deletion of zeros from the national currency is supposed to begin next year, with the agreement of the central bank. He noted that determine when to hold elections next year and the end of the age of the current state government will pay for the project automatically migrate to a new cabinet to consider its implementation and set a date to work with it. He Yasiri that this project will lead to reduce the rate of the national currency in circulation of 4 billion dinars to one billion. The Iraqi Central Bank announced earlier that this year will see the implementation of the project to delete the three zeroes from the national currency amid expectations of parliamentary committees to decide on the project next year, 2014, but the central bank recently returned to back down from his decision and says that the current situation is not suitable for the deletion of zeros from currency Iraq, noting that he will announce early to the public when it decided to delete it.
