New measures to maintain the value of Iraqi dinar

[JustNTime]

New measures to maintain the value of Iraqi dinar

21/02/2012

Shabibi «morning»: 2013 will see the launch of the new currency

BAGHDAD - Alaa al-Tai

Said the Iraqi Central Bank announced new measures to maintain the value of the Iraqi dinar against the dollar. Said Central Bank Governor Sinan Shabibi »Sabah»: it is «given the high demand for the dollar has taken the Central Bank of new measures regulatory rather than a restrictive». Assured Shabibi that «the monetary policy Iraq's okay because there are up high which is called the cover of the currency, which gives us flexibility in dealing with monetary policy based on the study of the march of the economy, inflation and high prices as if prices rose significantly we will resort to tougher measures, but if increased the pace of price is less there will be other action ». the past few days have seen a rise in the exchange rate of the dollar against the Iraqi dinar, prompting concern among some citizens on the process .. and delete the zeros, Shabibi said: The« There are a lot of work and continuing in relation to the process of deletion of zeros. The new currency will be launched in 2013 .. But now we have many ideas for the design of the coin and paper to reach a final form for the new currency, but it needs time to the multiplicity of designs and designers, the competition for features included in the currency ». Ruled out the central bank governor influenced by the market to change the currency, saying:« steps a well-thought, and all banks will contact the bank Central in accordance with the regulatory process will withdraw currency from banks and provide them with the Central Bank of new currency will not accompany the process has no effect in relation to the markets and trading will be easy for the new currency ». is scheduled to be deleted three zeros from the new currency, ie that the sum of one thousand dinars will become the new currency dinars one Iraqi. describes the process of central bank currency exchange project, the national supporter of the economy in the country, expresses in government and political parties for fear of the project as it will increase the phenomenon of money laundering, also believes that adversely affect the financial trading the stock market.

http://translate.google.com/translate?sl=ar&tl=en&u=http%3A%2F%2Fwww.alsabaah.com%2Fdefault.aspx

[Patriotic_mess]

Shabibi said: The« There are a lot of work and continuing in relation to the process of deletion of zeros. The new currency will be launched in 2013 .. But now we have many ideas for the design of the coin and paper to reach a final form for the new currency, but it needs time to the multiplicity of designs and designers, the competition for features included in the currency ».

He himself just said the new currency will be coin and paper! Now why on earth would Shabibi speak of coins if they're going to take zeros off the value of a bank note?

Thanks JNT, you're on fire today!

[RVPleaseToday]

What does this mean the new currency will be launched in 2013? Will it not RV before then?

[trooper]

He himself just said the new currency will be coin and paper! Now why on earth would Shabibi speak of coins if they're going to take zeros off the value of a bank note?

Thanks JNT, you're on fire today!

I think the 25,50,and 100 coins will replace the 5,000 10,000 and 25,000 dinars.. Deleting the zero's.. Op

[Scrumdiddles]

I think the 25,50,and 100 coins will replace the 5,000 10,000 and 25,000 dinars.. Deleting the zero's.. Op

Here we go with the lop again. Once again makes no since. No lop.

[Patriotic_mess]

I think the 25,50,and 100 coins will replace the 5,000 10,000 and 25,000 dinars.. Deleting the zero's.. Op

Do you mean retire the three zero notes and replace them with coins?

[Scrumdiddles]

Do you mean retire the three zero notes and replace them with coins?

Ok so why would they take the highest value bill and make it a coin?

[pnobles]

If the "000" bills become coins, then Iraq will use currency that has a greater coin value than paper value. Does this seem odd? Backwards? Are there any other countries with this type of set up?

Edited February 21, 2012 by pnobles

[trooper]

Cause it will have the same amount of fils.. A 25,000 dinar bill has 25,000 fils so a 25 dinar coin still has 25,000 fils in it...

[RVPleaseToday]

But does this mean no RV before 2013????

[Patriotic_mess]

Ok so why would they take the highest value bill and make it a coin?

It won't be made a coin, they will retire the three zero notes and give the people x amount of time to turn them in. If they go 1 USD to 1 IQD they will need smaller bills and coins so that's where this article fits in.

[JDFINV]

patriotic-mess

It won't be made a coin, they will retire the three zero notes and give the people x amount of time to turn them in. If they go 1 USD to 1 IQD they will need smaller bills and coins so that's where this article fits in.

This makes more sense to me

Thank you Patriotic_mess

[Biker]

I sugest you go back a ways and do some study on the Dinar and its History on this site you will learn a lot, and you wont be asking questions like this. Just a thought .

[Scrumdiddles]

It won't be made a coin, they will retire the three zero notes and give the people x amount of time to turn them in. If they go 1 USD to 1 IQD they will need smaller bills and coins so that's where this article fits in.

Then why does it need to fit into a nice little box of replacing the 25,000 bill? Why cant they just retire the 25k note and come out with a new coin. Because replacing the highest denom bill with a low value coin still makes no since. I think you are mixing it up with a lop.

[tamiflyer]

If the "000" bills become coins, then Iraq will use currency that has a greater coin value than paper value. Does this seem odd? Backwards? Are there any other countries with this type of set up?

South Africa, during the Krugerrand gold coins era. Thanks for your post. GLTA and Go RV.

[unirod]

Another translation of the very same article posted today on D/V said the "The new currency will launch and the work will begin By 2013" So there is a big difference between the two articles...

[Hamels]

The SUM of One Thousand Dinars will become the new currency Dinars ONE IRAQI, has anyone commented on this from the art...straight from Shabs mouth

[trooper]

Plus two articles posted today was that the root cause of the counterfeiting were 25,000 ,10,000 ,5,000 bills so i think the coins will be the easiest and quickest way to thwart forgery. There already made..

The SUM of One Thousand Dinars will become the new currency Dinars ONE IRAQI, has anyone commented on this from the art...straight from Shabs mouth

Smoke or RD...

[Hamels]

Plus two articles posted today was that the root cause of the counterfeiting were 25,000 ,10,000 ,5,000 bills so i think the coins will be the easiest and quickest way to thwart forgery. There already made..

Smoke or RD...

Yeah, Shabs is smoking something, right

[Patriotic_mess]

Then why does it need to fit into a nice little box of replacing the 25,000 bill? Why cant they just retire the 25k note and come out with a new coin. Because replacing the highest denom bill with a low value coin still makes no since. I think you are mixing it up with a lop.

Now I know why we have such trouble translating news feeds from Iraq... we humans have trouble communicating with our own language! Retire the higher notes and introduce new coins like you propose is what I meant, I was asking Trooper if that's what he was getting at when he said replace them. No LOP from me!

[trooper]

Now I know why we have such trouble translating news feeds from Iraq... we humans have trouble communicating with our own language! Retire the higher notes and introduce new coins like you propose is what I meant, I was asking Trooper if that's what he was getting at when he said replace them. No LOP from me!

Yes thanks for clarifying it, Retirement for the bills.. No Lop from me either...

Yes thanks for clarifying it, Retirement for the bills.. No Lop from me either...

I know they don't use fils now, but they will again when they start using quarter or half dinars unless they come up with a different measurement per unit

[cbs71]

What does this mean the new currency will be launched in 2013? Will it not RV before then?

IMO, no, but you have to understand that they are not going to spell out every detail of their plan otherwise, everyone on the planet would buy dinar and Iraq definitely don't want that.

Now, both currencies will most like co-exist for awhile until the old currency is out of circulation.

Hope this helps!

[tamiflyer]

The SUM of One Thousand Dinars will become the new currency Dinars ONE IRAQI, has anyone commented on this from the art...straight from Shabs mouth

What is the sum of 1000 Dinars right now in Dollars? $1.135 @ 1166 Dinars per Dollar. He is saying that the new rate will be $1.135 Dollars per Dinar. Just my interpretation and my opinion. Thanks for your post. GLTA and Go RV.

[yota691]

But does this mean no RV before 2013????

Rumorville has the New Currency out... Just a rumor I don't know if that is possible, with or without a rate change. That another question that has to be answer!! And I'm Not PUMPING!!

Edited February 21, 2012 by yota691

[keepmwlknfny]

The SUM of One Thousand Dinars will become the new currency Dinars ONE IRAQI, has anyone commented on this from the art...straight from Shabs mouth

Yea I think that the most important part of this article is being overlooked by many....its clearly talking about deleting the zeros being a 1000 to 1 lop.....