four international companies for the printing of currency seriously .. and reveals the categories, Mahma Khalil contract with

[Stryker365]

Doesn't "next" mean "this" with the translations?

Central Bank a good time to replace the currency ideal, which will be early next year.

Central Bank a good time to replace the currency ideal, which will be early THIS year.

You are correct, it is the first of this year.....

[Sector]

Do you really think there telling us it will be in a week or so??? Really. the coming days or soon has no specific meaning, it could be.months or up to a year away. why did you pick in a week or so??......did it sound better than may, september, or next year??

The arab summit is coming up shortly. they have sent parliament to get the heck away with all their arguing, and will be on vacation as not to spoil or create more drama during the big event.

Imo, iraq would not even consider a rv close to or during the summit. chaos in the streets, banks being targeted. it would distract security forces from being able to secure the summit as well as the banks and the markets. based on a pure security standpoint. it will not rv within a close proximity to the summit. It would be a logistical disaster, spreading out the security making them volunerable.

They are not telling us when they will RV they are just telling us they are going to issue the new currency and we know what that means.

Also chaos in the the streets has nothing to do with the RV. I mean nothing, it will be the same chaos in the streets before and after the RV.

There 250 million passing thur the streets of Iraq everyday so your point that an RV will cause chaos makes no sence.

[unirod]

IMO; if all the LD's like the 1,5,10,25 are not available to make change when citizens make the exchange of their 3 zero notes. This will force the electronic banking issue. The exchanges can only be made at State Banks in Iraq according to the news releases. So the 80% of Iraqi's that don't use banks will be forced to open up an account to exchange their currency. Imagine how much Dinar will be left in the accounts that Iraqi's will only be able to access electronically! Image how overnight the CBI could fix the debt problems of these State Banks with not only an RV, but the liquidity that would rush into these Banks. I'm not sure if such a scheme would be legal in the West, but this is Iraq remember. Any comments?

[Patriotic_mess]

The new currency will consist of the categories (1, 2, 5, 10, 25 and 50, 100, 200) dinars, as well as small metal groups (50 and 250) fils.

Such a close resemblance to the USD makes me think 1-1 is very likely.

[truthful1]

They are not telling us when they will RV they are just telling us they are going to issue the new currency and we know what that means.

Also chaos in the the streets has nothing to do with the RV. I mean nothing, it will be the same chaos in the streets before and after the RV.

There 250 million passing thur the streets of Iraq everyday so your point that an RV will cause chaos makes no sence.

By shabibis own remarks. security must have time for them. do you think security forces will have spare time, with the biggest event to take place in baghdad within the last few decades the arab summit going on??? I chose to believe thats why not to expect an rv until this is.over with

Edited March 18, 2012 by truthful1

[hame55]

Doesn't "next" mean "this" with the translations?

Central Bank a good time to replace the currency ideal, which will be early next year.

Central Bank a good time to replace the currency ideal, which will be early THIS year.

I have seen posters pretty sure "next" in their lingo means "this."

IMO; if all the LD's like the 1,5,10,25 are not available to make change when citizens make the exchange of their 3 zero notes. This will force the electronic banking issue. The exchanges can only be made at State Banks in Iraq according to the news releases. So the 80% of Iraqi's that don't use banks will be forced to open up an account to exchange their currency. Imagine how much Dinar will be left in the accounts that Iraqi's will only be able to access electronically! Image how overnight the CBI could fix the debt problems of these State Banks with not only an RV, but the liquidity that would rush into these Banks. I'm not sure if such a scheme would be legal in the West, but this is Iraq remember. Any comments?

Seems highly likely - what better way to move them into a banking society from a cash society than to RV and force the exchange into digital. This does depend on how many dinar are on the streets...and it would make dollars even more the cash on the street as all the dinar would be going thru the new banking system.

So this also points to an RV on par or higher than the USD to counter even more use of the dollar on the streets.

[yota691]

Do you really think there telling us it will be in a week or so??? Really. the coming days or soon has no specific meaning, it could be.months or up to a year away. why did you pick in a week or so??......did it sound better than may, september, or next year??

The arab summit is coming up shortly. they have sent parliament to get the heck away with all their arguing, and will be on vacation as not to spoil or create more drama during the big event.

Imo, iraq would not even consider a rv close to or during the summit. chaos in the streets, banks being targeted. it would distract security forces from being able to secure the summit as well as the banks and the markets. based on a pure security standpoint. it will not rv within a close proximity to the summit. It would be a logistical disaster, spreading out the security making them volunerable.

You have got to be kidding, right!! Vacation they still working, in fact they been at it pretty hard!! Canceling Vacation, working Holidays and they are still at it!! So yes it can RV at anytime!!

[truthful1]

You have got to be kidding, right!! Vacation they still working, in fact they been at it pretty hard!! Canceling Vacation, working Holidays and they are still at it!! So yes it can RV at anytime!!

Wait and watch they will be gone during the summitt when the big plqyers come in.

[yota691]

Wait and watch they will be gone during the summitt when the big plqyers come in.

The only thing I'm waiting on right now is the Budget to be posted, Just curious why come in here an start bashing somebody Opinion, if that the way he feels, let it be. Of course if you have a Link to how you just stated it was going down, present it to all us. If not let it ride an be Positive!! Were all in this together, of course if you just have this attitude about it, why be here!! Peace waiting on the RV

[Sector]

By shabibis own remarks. security must have time for them. do you think security forces will have spare time, with the biggest event to take place in baghdad within the last few decades the arab summit going on??? I chose to believe thats why not to expect an rv until this is.over with

Your point that it can't RV because security concerns makes no sense that is what I am saying. It can RV at anytime.

[zaborniake]

DinarDana was right. The DLR machines purchased were not printers, but counters, bundlers, and counterfeit bill detectors, and the security and expertise required was not going to happen in Iraq. I know, gloating is not attractive, but just give me my moment......

IMHO I still think they could utilize the lower denominations that were printed in 2003. The Kurds are the most logical and business oriented of all in Iraq, and I would think they would understand using currency that has been printed but does not have their language on it. An article this morning says that an agreement has been reached with the Kurds to print a picture of their atrocity on one bill. So, negotiations are in play. If the life expectancy of a bill is 6 months on average, they would be replaced soon. DD, do you think it would cost $150 million to reprint these 2003 bills? Plus, it takes months and months to print this amount of currency.

Thanks Yota!

Aren't these denominations mentioned in the article completely different (other than the 50) than those on the CBI site? New notes, new currency code, limited cash in period for the old IDQ for new just like the Saddam era exchange?

[truthful1]

The only thing I'm waiting on right now is the Budget to be posted, Just curious why come in here an start bashing somebody Opinion, if that the way he feels, let it be. Of course if you have a Link to how you just stated it was going down, present it to all us. If not let it ride an be Positive!! Were all in this together, of course if you just have this attitude about it, why be here!! Peace waiting on the RV

There was no bashing. it was a countered opinion with a reson. Im staying positive, but trying to be real about it as well.

[shoegal1975]

Imo, iraq would not even consider a rv close to or during the summit. chaos in the streets, banks being targeted. it would distract security forces from being able to secure the summit as well as the banks and the markets. based on a pure security standpoint. it will not rv within a close proximity to the summit. It would be a logistical disaster, spreading out the security making them volunerable.

Maybe I'm off base here but why would there be chaos in the streets? It's my understanding that the Iraqi's aren't hoarding dinar waiting for this to revalue, they're using our dollar. And we've been told (and the theory has been reversed) that doing this would only really increase purchasing power for them, so again I'm not seeing why there would be chaos and their banks being targeted.

Of course this is just my opinion...

[Carrello]

Aren't these denominations mentioned in the article completely different (other than the 50) than those on the CBI site? New notes, new currency code, limited cash in period for the old IDQ for new just like the Saddam era exchange?

Yes, they are the same, sans the 50. My theory of previously printed lds, doesn't help with making change on the street. New notes, news currency code, a given, right? Cash-in period limited? They have said not. Border closed? I can't imagine it.

Want to pass the Cheerios?

I am glad to see you here. I always learn something. Cheers!

[zaborniake]

Yes, they are the same, sans the 50. My theory of previously printed lds, doesn't help with making change on the street. New notes, news currency code, a given, right? Cash-in period limited? They have said not. Border closed? I can't imagine it.

Want to pass the Cheerios?

I am glad to see you here. I always learn something. Cheers!

The Attorney-Khalil: The new currency will consist of the categories (1, 2, 5, 10, 25 and 50, 100, 200) dinars, as well as small metal groups (50 and 250) fils.

So, here we're seeing a report of the new denominations. Only a 50 is currently recognized on the CBI site. No 250. No 500. I don't think that they'd mint and print a new 25 and 100 dinar coin, so I'm assuming they're talking about new 25 and 100 notes rather than the coins on the site.

I'm thinking they may be pitching all the denoms on the CBI site and rolling out a whole new series of notes with a new currency code. This would be bad news for us. No, we haven't seem mention of a new code yet, which is good. If this is the case however, and they do release the new notes with a new value at the same time with a new code, we'd be looking at a limited exchange window for a predetermined rate.

Just thinking out loud here.

[TQueezy]

When have they ever stated they will be issuing an entirely new currency with a new currency code?

All I ever hear them say is that they're printing new currency notes for the LOCAL CURRENCY, which is the Iraqi Dinar (IQD). They're just printing new notes, like we did in the USA when changing the security and pictures on the notes. The same thing here. The only difference is... they're getting rid of 000 on the printed face value, which means they have to up the exchange rate so they will be able to use them to purchase goods in the markets.

The old bills that still have the 000s on their face value will be honored at face value using the new exchange rate.

Simple as that.

Show me where they said they weren't going to do this? And show me where they said they're introducing an entirely new currency with a new currency code for it. Thanks.

[zigmeister]

When have they ever stated they will be issuing an entirely new currency with a new currency code?

All I ever hear them say is that they're printing new currency notes for the LOCAL CURRENCY, which is the Iraqi Dinar (IQD). They're just printing new notes, like we did in the USA when changing the security and pictures on the notes. The same thing here. The only difference is... they're getting rid of 000 on the printed face value, which means they have to up the exchange rate so they will be able to use them to purchase goods in the markets.

The old bills that still have the 000s on their face value will be honored at face value using the new exchange rate.

Simple as that.

Show me where they said they weren't going to do this? And show me where they said they're introducing an entirely new currency with a new currency code for it. Thanks.

Excellent catch!

[zaborniake]

When have they ever stated they will be issuing an entirely new currency with a new currency code?

All I ever hear them say is that they're printing new currency notes for the LOCAL CURRENCY, which is the Iraqi Dinar (IQD). They're just printing new notes, like we did in the USA when changing the security and pictures on the notes. The same thing here. The only difference is... they're getting rid of 000 on the printed face value, which means they have to up the exchange rate so they will be able to use them to purchase goods in the markets.

The old bills that still have the 000s on their face value will be honored at face value using the new exchange rate.

Simple as that.

Show me where they said they weren't going to do this? And show me where they said they're introducing an entirely new currency with a new currency code for it. Thanks.

I said we haven't seen them mention a new code as of yet. I'm simply stating that based on the new denominations mentioned in this article that there could be a wholesale replacement of the currency seeing as how only the 50 will seemingly survive after the new notes are released.

[Carrello]

This is out of my pay grade.

[TQueezy]

This is out of my pay grade.

Was that directed at my assertion that there will not be a new currency code? Mine was an amateurish analysis at best, anyway

Edited March 18, 2012 by TQueezy

[Carrello]

Was that directed at my assertion that there will not be a new currency code? Mine was an amateurish analysis at best, anyway

No,no. I meant that I do not have enough knowledge to participate in the conversation with accuracy. That's all. If you can make an amateurish analysis, you are ahead of me.

[TQueezy]

No,no. I meant that I do not have enough knowledge to participate in the conversation with accuracy. That's all. If you can make an amateurish analysis, you are ahead of me.

Gotcha. Well, for the record: I like your analyses and opinions and I think you have a lot to add to conversations, even if it's just blatant uneducated speculation on your part!

[Carrello]

Gotcha. Well, for the record: I like your analyses and opinions and I think you have a lot to add to conversations, even if it's just blatant uneducated speculation on your part!

Let's call it intuitive and leave it at that.

[Tirebiter]

When have they ever stated they will be issuing an entirely new currency with a new currency code?

All I ever hear them say is that they're printing new currency notes for the LOCAL CURRENCY, which is the Iraqi Dinar (IQD). They're just printing new notes, like we did in the USA when changing the security and pictures on the notes. The same thing here. The only difference is... they're getting rid of 000 on the printed face value, which means they have to up the exchange rate so they will be able to use them to purchase goods in the markets.

The old bills that still have the 000s on their face value will be honored at face value using the new exchange rate.

Simple as that.

Show me where they said they weren't going to do this? And show me where they said they're introducing an entirely new currency with a new currency code for it. Thanks.

Very nice post. I have had ongoing issues trying to make any sense out of their articles and plans and I like this analysis. Entirely possible the old and new could be a McCartney & Wonder song and they could both live together in harmony. +1.

[Markinsa]

Mahma Khalil contract with four international companies for the printing of currency seriously .. and reveals the categories

03/18/2012

A member of the Economic Commission deputy / Kurdistan Alliance bloc / Mahma Khalil, all contracted the Iraqi Central Bank with (4) known international companies for the printing of new currency for the printing of the new national currency after you delete the zeros of which, describing the project to delete the three zeroes from the currency as "successful" and the time specified ideal for replacing them..

Khalil said (of the Agency news) on Sunday: The project to delete the three zeroes from the local currency is one of the important projects and at all levels, whether economic or security for the country, pointing out that the program issue by the Central Bank a good time to replace the currency ideal, which will be early next year.

He pointed out: that the central bank has contracted with (4) well-known international companies, and solid in the field of international currency printing, without giving their names or nationalities, saying: The time is still too early to announce the nationalities of those companies.

Khalil added: that the new currency will be a high specification and have the properties of security is very high is not as easy to be forged, in addition to the federal government has (25) a device with allergic high and marked new currency counterfeit of good as well as import (25) other devices by the central bank to detect counterfeit currency, calling for attribution and support this project because it will reform the Iraqi currency by reducing the money supply raised in the local markets.

The Attorney-Khalil: The new currency will consist of the categories (1, 2, 5, 10, 25 and 50, 100, 200) dinars, as well as small metal groups (50 and 250) fils.

As revealed deputy governor of the Central Bank of the appearance of Mohammed in favor of the existence of safety properties of high-tech and scientifically advanced in the new Iraqi currency after deletion of zeros of the three of them.

Saleh said in an earlier statement (of the Agency news): The Central Bank of Iraq has reached advanced stages of preparations logistical task for the project to delete the three zeroes from the Iraqi currency, and after obtaining approval from the federal government to implement it will be working on a larger scale as a project is a strategic interest to the general public Iraq.

-

Edited March 19, 2012 by Markinsa
Merged Topics