Two Currencies Coexist Together and Gradual Replacement

[lomeygoat]

Delete the zeros start end of the year

BAGHDAD - Ahmed Saleh Khyoun

CBI begins the end of the year and gradually replace the currency now in circulation a new currency which zeroes deleted within the strategy to reform the monetary system started in 2005.

Bank consultant and announced the appearance of Mohammed Saleh told (time) on that (the bank has completed 50 percent of a strategy switch in and out, delete the zeros of the nominal value of the new currency while retaining the cash value and purchasing power), said that (the replacement process will be gradually and spontaneously high and without fanfare, as will be There are two currencies to trade at the same time go hand in hand), but (that the purchasing power of the new currency will remain fixed).

Saleh said (there are multiple advantages of this strategy, including ease of trading between the citizens and facilitate the work of banks, counting, sorting, and stand on the counterfeit currency and to facilitate transactions of the citizens with the banks on the deposits and withdrawals in addition to facilitating the process of monetary reform after hitting a currency issued in circulation now 25 trillion dinars, while in 1990 was about 25 billion dinars and this in itself calls for the deletion of zeros).

In the answer to a question by (time) whether the Central Bank has set a deadline for the replacement of the currency said (we did not define this ceiling until now that the matter is still under study and the reality of work at that time will decide how long the replacement process).

Responding to another question about the Iraqi currency held abroad and how to replace it "(The right of a citizen is to remove the $ 200 thousand dinars and he could replace it like any ordinary citizen here in Iraq, either from abroad, the banks in the States would be responsible to us of the assets of our currency, too), He pointed out that (a media campaign will precede and guide the process in order to raise public awareness of the importance of this and that our banks and our will all be ready to provide all facilities to the citizens and emphasize once again that the process does not affect absolute quiet in the market also ...

(note that many countries replaced their currency and benefit from their experiences in this area, including Turkey, Russia, Brazil and others).

Link My link

Note ~ NOT A LOP ~

The following statements mentioned in the following articles are indirectly saying that all Iraqi Dinars with 3 0's will be Removed from Circulation. That would mean that the 25,000, 10,000, 5,000 and 1,000 dinar notes will, over time (gradually), be taken out of circulation. This is Not a lop. Time will be given to trade in the higher notes for smaller notes and eventually the higher notes will no longer be used and will be Phased out Completly.Also Iraq is in its own category apart from Turkey, Russia, Brazil and others who have actually lopped.

[SgtFuryUSCZ]

***///

Now they're actually including US in the discussion....

Ya'll ready to go to RV school with the Iraqi's...?

I want my BigScreenJumboTV!

Maybe they'll set one up for us on main street in Vegas!

[JustNTime]

without fanfare?

Yeah Right!

They ought to take a look in my back door when this happens...(turning flips)

[RVPleaseToday]

Does he say that only 200,000 dinar can be exchanged?

[Saintsfan]

What does it mean that the new currency rate will remain fixed ? Will that make my 25 k notes value higher in value per dinar?

[Darin]

Interesting article... It appears that the CBI will allow exchanges abroad (meaning outside the country). This is good news, because if true, whether this lops or pops we should be able to find a place to exchange.

I think the "States" reference may not be singling out the U.S. but more-so their role in the event (i.e., transferring USD on hand upon exchange).

[FishmanTx]

Delete the zeros start end of the year

BAGHDAD - Ahmed Saleh Khyoun

CBI begins the end of the year and gradually replace the currency now in circulation a new currency which zeroes deleted within the strategy to reform the monetary system started in 2005.

Bank consultant and announced the appearance of Mohammed Saleh told (time) on that (the bank has completed 50 percent of a strategy switch in and out, delete the zeros of the nominal value of the new currency while retaining the cash value and purchasing power), said that (the replacement process will be gradually and spontaneously high and without fanfare, as will be There are two currencies to trade at the same time go hand in hand), but (that the purchasing power of the new currency will remain fixed).

Saleh said (there are multiple advantages of this strategy, including ease of trading between the citizens and facilitate the work of banks, counting, sorting, and stand on the counterfeit currency and to facilitate transactions of the citizens with the banks on the deposits and withdrawals in addition to facilitating the process of monetary reform after hitting a currency issued in circulation now 25 trillion dinars, while in 1990 was about 25 billion dinars and this in itself calls for the deletion of zeros).

In the answer to a question by (time) whether the Central Bank has set a deadline for the replacement of the currency said (we did not define this ceiling until now that the matter is still under study and the reality of work at that time will decide how long the replacement process).

Responding to another question about the Iraqi currency held abroad and how to replace it "(The right of a citizen is to remove the $ 200 thousand dinars and he could replace it like any ordinary citizen here in Iraq, either from abroad, the banks in the States would be responsible to us of the assets of our currency, too), He pointed out that (a media campaign will precede and guide the process in order to raise public awareness of the importance of this and that our banks and our will all be ready to provide all facilities to the citizens and emphasize once again that the process does not affect absolute quiet in the market also ...

(note that many countries replaced their currency and benefit from their experiences in this area, including Turkey, Russia, Brazil and others).

Link My link

Note ~ NOT A LOP ~

The following statements mentioned in the following articles are indirectly saying that all Iraqi Dinars with 3 0's will be Removed from Circulation. That would mean that the 25,000, 10,000, 5,000 and 1,000 dinar notes will, over time (gradually), be taken out of circulation. This is Not a lop. Time will be given to trade in the higher notes for smaller notes and eventually the higher notes will no longer be used and will be Phased out Completly.Also Iraq is in its own category apart from Turkey, Russia, Brazil and others who have actually lopped.

Note ~ NOT A LOP ~

Don't hold your breath on that! Nothing about these articles and what's been said before tell me anything of when (pre-change/post change) and how the rate will be dealt with. That's the most critical item.

He pointed out that (a media campaign will precede and guide the process in order to raise public awareness

Here is where we will know.

I'm not a Lopster and God knows I need the RV, but I'm not blind or stupid either and everything I've seen over the last 7 years points to "bad news". I wouldn't trust them to do anything but what benefits themselves in the long run. If they were going to RV 1:1 then release the new denoms and swap out (RD), then no one would need an "education". It would be very straight forward; 25=25 and 25k=25k. An "education would only be needed if you were going to coexist 2 currencies of different nominal (face) value but the same cash value so the people don't get confused or freak out when they're handed 1 dinar for every thousand.

And THAT'S a lop!

JMHO

Edited February 22, 2012 by FishmanTx

[NWGUY]

Great article! Thanks!

I like the part, that they are deleting the zero's from the nominal value, which if you take the 3 zero's off, you end up at approx .86, which would put it at approximately $1.17, to the USD.

Looking good!!

Go RV!!!

[pocono]

bump