Central Bank announces replacement of damaged currency early next month

[yota691]

Central Bank announces replacement of damaged currency early next month

Author: HM Editor: HAH | AA Saturday 27 v 1 2012 10:30 GMT

Central Bank of Iraq, Saturday, from his contract with the British company to replace the currency damaged with new ones, stressing that the replacement process will be the beginning of the month of November, as pointed out that these currencies are only 1% of the currency in circulation in the market. The deputy governor of the Central Bank of the appearance of Mohammed Saleh in an interview for "Alsumaria News", "Bank has contracted with a British company specialized printing currency to print in small denominations which the 250 dinars and the JD 1000, for the purpose of replacing damaged with new ones," noting that "this company is one of the large companies, which are printed approximately 60% of the currencies of the world. " Saleh added that "the month of November will start replacing currency damaged with new ones from the small groups," adding that "all these currencies damaged constitute only 1% of the currency in circulation , which are many but the value of a few. " and citizens suffer from the difficulty of purchasing groups of small markets because of damage and rupture most especially the categories of the 250 and 1000 dinars. carried the CBI, on the tenth of April 2011, bank management responsibility currency traded damaged in the markets, warning the imposition of fines on banks uncooperative to the point of suspension, as he emphasized that what is being replaced from the currency damaged in the bank does not exceed 30% of the damaged physical. noteworthy that the Iraqi Central Bank, with headquarters in Baghdad and has four branches in the provinces of Basra and Sulaymaniyah, Irbil and Mosul , founded the bank independent Iraqi under the law of the Central Bank of Iraq issued on March 6, 2004, and is the responsibility of the bank is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and management of foreign reserves and the issuance of currency management, as well as regulate the banking sector. http://www.alsumarianews.com/ar/3/50266/news-details-.html

Edited October 27, 2012 by yota691

[TheArtistFormallyKnownAs]

Hmm! 8 )

Thanks Yota, You the man , you are "Dinar Vets"

[jeepguy]

smaller groups of the notes,, the 1000 and 250 ,,, and looks like they need too be over 30% in damage ,,, -----> now if they can somehow manage too kind of start dropping in the coins ,, and the very newest idea -- lower notes at same time now were talking there might be something too this as for our standings and larger notes,, hope more news of this in near days times ---------> thanks yoda

[welcome007]

So they are going to reintroduce the dinar..after all that work just take in all the 3 zero notes?

[Biker]

Dont make good since to me, if there plan was to bring in smaller notes = to the US dollar, Why would they pay to replace worn old bills 250 and 1000 bills. Evadently there not going to RV for some time yet if they do at all.

[RVPleaseToday]

Just business as usual. They are replacing some damaged currency. And the beat goes on.

[hablrob]

Ok.

" Something is afoot at the Iraq Central Bank - K "

Shabbs and Maliki Excellent adventure....

Edited October 27, 2012 by hablrob

[endeavor1]

There are other outstanding article's this weekend, too....exciting! Go RV!!!

[SocalDinar]

GM DV

Two months from possible RD and this comes out.

This can only mean no RD in January

Awesome!

Thanks Yota

[gregp]

Oh crap! I'm doing the snoopy dance! Can't stop!

[yota691]

Oh crap! I'm doing the snoopy dance! Can't stop!

[rockhound60]

BRING IT ON !!!!!!!!!!!! THANKS YOTA !!!!!!!!!!

[easyrider]

We are on our way....

Edited October 27, 2012 by easyrider

[detroitjazzman]

Dont make good since to me, if there plan was to bring in smaller notes = to the US dollar, Why would they pay to replace worn old bills 250 and 1000 bills. Evadently there not going to RV for some time yet if they do at all.

or ............. it could be that while they say they are just replacing worn or damaged bills. what precludes them from replacing large denominations at the same time? Theycould just as easily replace large denom's at the same time, assuming the have enough small denoms to replace them with, just saying

[unirod]

I don't ever remember the CBI making an official announcement regarding replacement of old worn out notes. What if the CBI is saying 250 and 1000 notes as a catagory that citizens understand? when in fact the new notes released will be 25 & 100 Dinar notes? this would defenitly mean a change in the rate is coming....IMO

[TheArtistFormallyKnownAs]

Too true , I couldn't imagine a press release saying we are replacing worn out 5 and 10 Dollar or Euro or Pound notes.

[jeepguy]

all of these statements are true too the fact ,, that why would c,b,i, have too publish article stateing they are about too rplace old worn-out bills??? there could be some ting stiring in the melting pot ,,,, the start of replacing all bills maybe??

[gamaray]

The Central Bank announced the replacement of damaged coins early next month

27/10/2012-3: 25 pm | Hits: 57

The Iraqi Central Bank announced Saturday, signed a contract with a British company to replace damaged currency with a new, replacement will be early November next, noting that those currencies constitute only 1 percent of the currency in the market.

Deputy Central Bank Governor Mohamed Saleh appearance in an interview for "NPR.org", "the Bank contracted a British company responsible for printing currency to print small groups and are the 250 dinars, 1000 dinars for the purpose of replacing damaged with a new", stating that "this company is one of the big companies that prints nearly 60% of the coins of the world".

Saleh said "November will begin replacing damaged currency with a new small groups," he said, adding that "all these bad currencies constitute only 1 percent of the currency in circulation, which are many but the few worth".

Citizens suffer from the difficulty of small groups of procurement markets due to damage and rupture most especially both the 250 and 1000 dinars.

And the CBI, on the 10th of April 2011, Bank management is responsible for the damaged currency markets, warning of fines on non-cooperative banks amounted to a stop, with the damaged currency is replaced in the Bank does not exceed 30% of the actual harmony.

http://www.microsofttranslator.com/bv.aspx?from=ar&to=en&a=http%3A%2F%2Fwww.burathanews.com%2Fnews_article_173806.html

[rockfl9]

The reason the CBI would announce that they are replacing the worn notes is to quell the complaints of the citizens.... I think Shabibi fully intended to RD and issue new currency so he purposely didnt order replacements and put the money in the new currency ... His arrest fouled that plan . Now the old currency must be refreshed.... That's all!

[respectron]

In the month of Nov, huh!!! Coincidence to when the US will know who our next POTUS is? Do they have 2 plans in place just in case we get a republican back into office and Bushes plan (agreements) for Iraq goes back into full swing as I'm sure O has turned Iraq loose before what Bush had planned has fully taken affect??? Just have to wait and see.

[Biker]

First Neg i have had in two yrs, Thanks guys i was feeling left out

[respectron]

First Neg i have had in two yrs, Thanks guys i was feeling left out

+1. Was rude to get negged but your come back gave me a chuckle

[Maggie123]

First Neg i have had in two yrs, Thanks guys i was feeling left out

Hi Biker I've gotten plenty... but I'm NOT Sharing, Sorry. + One To You! You So Funny

All good comments here... I just don't know what to think about this. Maybe more will come out to clearify what they are talking about.

Did I read right about coins? Nope just re-read... I swear I saw something... maybe in a different article, but could very well be wrong.

Edited October 27, 2012 by Maggie123

[dontlop]

my take is .. the 1000 dinar note and the 250 note are scarce because they are worn out .. they are the most comon notes and exchange hands most .. they are used to make change alot more than the 25 k note or other notes .. they are going to put more out on the private sector to replace old beat up notes ...nothing will change as far as value .. they are the same as the old notes .. just more of them ..

people must be complaining about a shortage of these notes .. in the market place where they are needed to make change ..

[zigmeister]

hmmmmm very interesting, now could this also mean they really have not been printing like crazy?