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CBI: The financial budget for the year (2013) will adopt the new currency in Arabic and Kurdish


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CBI: The financial budget for the year (2013) will adopt the new currency in Arabic and Kurdish

Posted: April 2, 2012 in Iraqi Dinar/Politics

Tags: Arabic language, Central Bank Iraq, Currency, General Agreement on Tariffs and Trade, Iraq, Kurdish people, New Year, Saleh

Author Ninwanews on Saturday, March 31, 2012

Central Bank of Iraq announced that the federal budget, for the year (2013) will be approved with the new currency in Arabic and Kurdish.

The deputy chairman of the Central Bank of Iraq the appearance of Mohammed in a statement to “Khandan”: that put Iraq’s new currency will be in (01/01/2013) and will be in both Arabic and Kurdish with the deletion of three zeros the first of the current currency, indicating the following: that the financial budget of the Federal Iraq will be traded during the ninth month of the current year and recognized in the New Year according to the new currency of the two languages.

Saleh explained: The installation of the current currency led to inflation in the Iraqi market and has become inadequate with the financial situation now, the lack of large groups and small to cover the trading them, noting that all the countries of the world that emerged from conflict or hit by the deterioration in the currency of the GATT to modify its currency.

http://bit.ly/H9coYa

If they have the NEW currency in the 2013 budget, perhaps the 2012 budget has the the OLD currency in it as well. Looks promising that we'll see the rate in this one coming out on the 19th... Sept??? as the ninth month???

Edited by Sweetybird
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I respect your right to an opinion, but you have no clue what your talking about. explain this useless currency to me...what a 25k note, thats worth more than the twenty dollar bill you have in your

Yea... the forum police have arrived. if you want to come to a public forum and bring fictional statements, dont get upset when the informed, prepared, and engaged call you on it. This site needs a

Im not going to say rv tomorrow to make everyone fluffy and happy. i guess i should start calling the rv everyday, so everyone can feel better about the whole situation. because god forbid we take

so we aren't going to see the RV till 2013

Well, that's another point of contention even amongst pro-RVers, is whether or not the new exchange rate will show up before they release the new currency, and that even in the event they release the rate before circulating the new notes, if the new rate will apply to the old notes without a conversion formula between old and new notes before exchanging internationally with a US dollar value.

Things that make you go hmmm...

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I don't think so because it states it will be traded in the ninth month of this year... I think we'll see it "soon"... biggrin.gif

Yeah the notes may be traded between banks ..... but not on the streets ..... I dunno thats just how I read it .

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To trade the financial budget in the 9th month of the current year would make the time period in June 2012. the 2012 fiscal year began October 1 2011. I still think this is a spin article and Iraq cannot wait untill june to R/V....IMO

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Saleh explained: The installation of the current currency led to inflation in the Iraqi market and has become inadequate with the financial situation now,

This statement is not accurate. The current currency installation was with artificially induced inflation, did not lead to inflation. The current currency has increased in value since original installation, and has not led to inflation.

I'm not buying the "replacement currency" due to inflation story, that would be a "redenomination" which is NOT a RV.

Nobody knows the outcome of this ride, I'm staying buckled in.

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Sorry, but I do not think that Iraq can wait until then. They have so many different offers to assist, and who wants useless currency? Iraq knows this, and so do others!!! They will RV soon, they have bills to pay!!!!!!!

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Thank you Sage!!! I think that we will see this happen sooner than 2-3 weeks. They are feeding us little by little..........biding some time......we know it is here, and Iraq knows it as well.........:)

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Sorry, but I do not think that Iraq can wait until then. They have so many different offers to assist, and who wants useless currency? Iraq knows this, and so do others!!! They will RV soon, they have bills to pay!!!!!!!

I respect your right to an opinion, but you have no clue what your talking about. explain this useless currency to me...what a 25k note, thats worth more than the twenty dollar bill you have in your pocket. Thats not useless...it has every use a 20 dollar bill has. iraq has to rvto pay its bills?? Thats one of the most uninformed under-researched statements ive ever heard. if they rv, they are going to get the biggest bill theyve ever received in the history of iraq. so how is it iraq has been paying bills for years without a rv???

I understand and respect optimism and hope, but your assertions are wrong. it cant even be considered a theory when it starts with false premises.

Edited by truthful1
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Oh Truth,

When a bowl of shorbat rumman takes a bag of currency to buy............ITS useless Sir! We aren't "hoping" We are "waiting"..................so take the negs and go feed the birds at the park.............however, enjoy your day!

Edited by Nakida
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Oh Truth,

When a bowl of shorbat rumman takes a bag of currency to buy............ITS useless Sir! We aren't "hoping" We are "waiting"..................so take the negs and go feed the birds at the park.............however, enjoy your day!

I have to agree, Iraqs currency is worth something...there is just a whole lot of it. There are many countries that have "worthless" currencies and are very productive, China for example. They purposely don't want to RV their currency because it benefits the country to have it "worthless" because it keeps exports high and imports low. You and I want the RV for very different reasons Iraq might want/not want one. There is a whole economic/political backdrop to currency revaluations that I could spend weeks on, but don't assume they can't continue to function on their current currency...because they have done it for years and could continue to do so if need be. Might not be the smartest thing to do, but they could do it and be just fine. Hence, the 50/50 chance this doesn't happen in our favor.

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Oh Truth,

When a bowl of shorbat rumman takes a bag of currency to buy............ITS useless Sir! We aren't "hoping" We are "waiting"..................so take the negs and go feed the birds at the park.............however, enjoy your day!

I was really looking forward to you explaining how iraq cant pay there bills unless they rv. please do

Also add some more insight on how this is a wait rather than hope mode. adam montana has even said theres no guarantees and theres a lot of rd articles out lately.

Edited by truthful1
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I respect your right to an opinion, but you have no clue what your talking about. explain this useless currency to me...what a 25k note, thats worth more than the twenty dollar bill you have in your pocket. Thats not useless...it has every use a 20 dollar bill has. iraq has to rvto pay its bills?? Thats one of the most uninformed under-researched statements ive ever heard. if they rv, they are going to get the biggest bill theyve ever received in the history of iraq. so how is it iraq has been paying bills for years without a rv???

I understand and respect optimism and hope, but your assertions are wrong. it cant even be considered a theory when it starts with false premises.

Respect to disagree is all that was needed along with your reasons(if you wanted to give them).The personal snide remarks are uncalled for. She started her post off with "i do not think"(opinion). Are mondays a bad day for u? Best to all

Edited by caz1104
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The lower demons serve no purpose unless their currency revalues. Whether they do it in 3 weeks, June, September or January 1 2012, makes no difference to me. It will be completed by 2013.

If you use that as your worse case scenario then anything earlier is bonus. December 2010 everyone said they can't hold out any longer and now look where we are. Stay focused on what they want to accomplish which was Chapter VII removal by June and September for the introduction of new currencies in prep for 2013.

Please don't set yourself up for Easter or April.

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Yea... the forum police have arrived.

if you want to come to a public forum and bring fictional statements, dont get upset when the informed, prepared, and engaged call you on it.

This site needs a wish and hope section.......dont bring fictional statements to the news section and maybe people wont question your position....... this is a forum to have a conversation......so lets have one. good day

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I am on Caz side with this one. I enjoy hearing DV when others keep things positive. Truthful posts a lot of negative posts. Nakeda I agree with what you are saying, and appreciate your posts.

Im not going to say rv tomorrow to make everyone fluffy and happy. i guess i should start calling the rv everyday, so everyone can feel better about the whole situation. because god forbid we take emotions out of currency speculation

Edited by truthful1
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lol Who called the RV? She can feel however she wants. I have said enough about this. You can act like a jerk if you want to. I appreciate people with an upbeat sense of life. If you don't that is your problem. Off to my enjoy my "fluffy" day :wave:

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Forum police? Not at all. Just sounds like your disgruntled today. It's not about a debate, it is how you attack others so hateful. Will have a good day here!

What attack??? The challenging of a fictional statement. I opened it up for clarification. Since your defending the position.....please tell us how iraq cant pay their bills unless they rv. lets get back to he original question and conversation...your turning this into a counseling session instead of a dinar forum...lets talk dinar please

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