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Has the rate been leaked?

FXStockpiling

By FXStockpiling,
in Iraq & Dinar Related News

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88 members have voted

  1. 1. Has the rate been leaked?

    • YES
      10
    • MAYBE
      29
    • NO
      49

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FXStockpiling Newbie

FXStockpiling

Posted
Posted

Lets give recognition to yota691 for finding the second piece of the puzzle!

1ST

Legislative authority go to support the Central Bank on the deletion of zeros currency

25/06/2012 19:13

Erbil June 25 (AKnews) - The Finance Committee of the House of Representatives of ethnic Monday that the legislature go to support the policy of the Central Bank regarding the deletion of zeros from the currency. central bank says it finished a road map to get rid of three zeros from the currency to reduce the bloc cash and ease of financial transactions in line with the new situation of the Iraqi economy. , but the government and the Securities Commission Ibdita Khchithma that affect the process negatively on financial trading in the Iraqi market for securities. said member parliamentary Finance Committee Najiba Najib told the Kurdish news agency (Rn) that "there is a tendency by the legislature to support political central bank restructuring Iraqi currency and delete the zeros at the beginning of next year. " and explained that "the subject began matures day after day for the members of the Finance Committee and the Economic Commission", noting that "preparations Central Bank to implement the project under way but it is not incomplete so far. " and witnessing the Iraqi market weeks ago fluctuation in the exchange rate of the dinar against the U.S. dollar which attributed experts to restrictions imposed by the bank on the sales of hard currency. and imposing bank more stringent measures in the auction to sell the dollar after he said that currency goes to states neighborliness and especially Syria and Iran imposed upon economic sanctions. drew Najib is vice Kurdistan Alliance that "the project will be implemented over two years by government banks, and will be part of the new currency coins of metal from the small groups will also be there currencies large corresponding to $ 180 any 200 thousand Iraqi dinars from the current currency. " said "through discussions extensive with the central bank and were provided by studies from the World Bank, the project aims to support the Iraqi currency as well as enter new categories of currency market as well as reduce the size of the money supply as well as the inclusion of languages Arabic and Kurdish in the currency. " The main tasks of the central bank in the conduct of monetary policy in the country and raise the level of the value of the Iraqi dinar and tackle inflation in the country. and the Central Bank of Iraq four branches in Basra and Sulaymaniyah, Irbil and Mosul. Abdullah Sabri

http://www.aknews.com/ar/aknews/2/314113/

2ND

Central Bank ... the new Iraqi currency markets soon

MP for the coalition of Kurdish blocs Mahma Khalil, all contracted the CBI with (4) known international companies to print new currency for the printing of the new national currency after deletion of zeros of them, describing the project to delete the three zeroes from the currency as "successful" and the time is perfect for a replacement. Said Khalil (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 is the subject of the central bank good time to replace the ideal currency, which will be early next year. He pointed out: that the central bank has contracted with (4) known international companies and solid in the field of international currency printed without mentioning their names or nationalities, saying: it is still too early to announce the nationalities of those companies. Khalil added: that the new currency will be high specifications and contain properties security is very high is not as easy to be forged, adding that the federal government owns (25) organ The allergic high and distinguishes new currency counterfeit of good as well as import (25) device last by 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. MP Khalil said: that the new currency will be made up of groups (1, 2, 5, 10, 25, 50, 100 and 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 Saleh about the existence of the properties of high security and advanced scientific technology in the new Iraqi currency after deleting three zeros from them. Saleh said in an earlier statement that the Central Bank of Iraq reached the advanced stages of important logistical preparations for the project to delete the three zeroes from the Iraqi currency and after obtaining approval from the federal government to implement it will work on a larger scale because it is a strategic project general matter of the Iraqi people.

http://afkarhura.com/index.php?option=com_content&view=article&id=4686:2012-05-01-08-42-22&catid=1:akbar&Itemid=21

The rate .90? :wub: or :butt-kicking: VOTE!!!

If the largest of the new currencies (200) = $180 or is equal to 200 thousand of the current currency. Then $180.00 divided by 200 IDQ = .90 Per IDQ

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Bored Newbie

Bored

Posted
Posted

its a possibility that it was leaked but with all the misinformation whether it was intentional (Gov. run media) or unintentional (Guru) its impossible to tell... all I can tell you is that its worth alot more than what I payed for it.. thats my story and im sticking to it! :twothumbs:

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Jac Newbie

Jac

Posted
Posted (edited)

:bow:

Lets give recognition to yota691 for finding the second piece of the puzzle!

1ST

Legislative authority go to support the Central Bank on the deletion of zeros currency

25/06/2012 19:13

Erbil June 25 (AKnews) - The Finance Committee of the House of Representatives of ethnic Monday that the legislature go to support the policy of the Central Bank regarding the deletion of zeros from the currency. central bank says it finished a road map to get rid of three zeros from the currency to reduce the bloc cash and ease of financial transactions in line with the new situation of the Iraqi economy. , but the government and the Securities Commission Ibdita Khchithma that affect the process negatively on financial trading in the Iraqi market for securities. said member parliamentary Finance Committee Najiba Najib told the Kurdish news agency (Rn) that "there is a tendency by the legislature to support political central bank restructuring Iraqi currency and delete the zeros at the beginning of next year. " and explained that "the subject began matures day after day for the members of the Finance Committee and the Economic Commission", noting that "preparations Central Bank to implement the project under way but it is not incomplete so far. " and witnessing the Iraqi market weeks ago fluctuation in the exchange rate of the dinar against the U.S. dollar which attributed experts to restrictions imposed by the bank on the sales of hard currency. and imposing bank more stringent measures in the auction to sell the dollar after he said that currency goes to states neighborliness and especially Syria and Iran imposed upon economic sanctions. drew Najib is vice Kurdistan Alliance that "the project will be implemented over two years by government banks, and will be part of the new currency coins of metal from the small groups will also be there currencies large corresponding to $ 180 any 200 thousand Iraqi dinars from the current currency. " said "through discussions extensive with the central bank and were provided by studies from the World Bank, the project aims to support the Iraqi currency as well as enter new categories of currency market as well as reduce the size of the money supply as well as the inclusion of languages Arabic and Kurdish in the currency. " The main tasks of the central bank in the conduct of monetary policy in the country and raise the level of the value of the Iraqi dinar and tackle inflation in the country. and the Central Bank of Iraq four branches in Basra and Sulaymaniyah, Irbil and Mosul. Abdullah Sabri

http://www.aknews.co...knews/2/314113/

2ND

Central Bank ... the new Iraqi currency markets soon

MP for the coalition of Kurdish blocs Mahma Khalil, all contracted the CBI with (4) known international companies to print new currency for the printing of the new national currency after deletion of zeros of them, describing the project to delete the three zeroes from the currency as "successful" and the time is perfect for a replacement. Said Khalil (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 is the subject of the central bank good time to replace the ideal currency, which will be early next year. He pointed out: that the central bank has contracted with (4) known international companies and solid in the field of international currency printed without mentioning their names or nationalities, saying: it is still too early to announce the nationalities of those companies. Khalil added: that the new currency will be high specifications and contain properties security is very high is not as easy to be forged, adding that the federal government owns (25) organ The allergic high and distinguishes new currency counterfeit of good as well as import (25) device last by 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. MP Khalil said: that the new currency will be made up of groups (1, 2, 5, 10, 25, 50, 100 and 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 Saleh about the existence of the properties of high security and advanced scientific technology in the new Iraqi currency after deleting three zeros from them. Saleh said in an earlier statement that the Central Bank of Iraq reached the advanced stages of important logistical preparations for the project to delete the three zeroes from the Iraqi currency and after obtaining approval from the federal government to implement it will work on a larger scale because it is a strategic project general matter of the Iraqi people.

http://afkarhura.com...akbar&Itemid=21

The rate .90? :wub: or :butt-kicking: VOTE!!!

If the largest of the new currencies (200) = $180 or is equal to 200 thousand of the current currency. Then $180.00 divided by 200 IDQ = .90 Per IDQ

Looks like a leak but my opinion is that it is untrue. :bow: Hope for news soon.:twothumbs:

Thank you for this post, Woody!

Edited by Jac
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mr john Newbie

mr john

Posted
Posted

can you explain why that is good to you?:huh:

you don't really understand any of this at all, do you ? :unsure:

LOL. My thoughts exactly. Even though I paid $700 a million IQD I dont think making its value $900 after sitting on it for 8+ years is a good investment.

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FXStockpiling Newbie

FXStockpiling

Posted
  • Author
Posted

Let me elaborate a little more here. I am assuming that the dinar we have now will exchange 1 for 1new dinar. As in 200,000 dinar that we have now worth $180,000.00

The reason I have for the 1 to 1 exchange for the lower denoms is that is what they did the last time they had exchanged currencies...

Notes on the Iraqi Dinar

The new Iraqi Dinar was released on October 15, 2003. It replaced all "old" Dinar and "Swiss" Dinar banknotes, which as of January 15th 2004 were no longer legal tender.

The conversion rates for the new Iraqi dinars were as follows:

one "old" Dinar was exchanged for one new Iraqi Dinar

one unit of the "Swiss" Dinar (used throughout Iraq until the early 1990's, and still used in some northern areas of Iraq) was exchanged for 150 new Iraqi Dinars.

The new Iraqi Dinar banknotes look similar to the former national ("Swiss") Dinar notes, but have more security features to guard against counterfeiting, are more durable so will suffer less "wear and tear," and have many more denominations.

The new currency is convertible into non-Iraqi currencies, including the US dollar, at the prevailing market rate.

http://www.oanda.com/help/iraqi-dinar

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keepmwlknfny Newbie

keepmwlknfny

Posted
Posted

The reason I have for the 1 to 1 exchange for the lower denoms is that is what they did the last time they had exchanged currencies...

Notes on the Iraqi Dinar

The new Iraqi Dinar was released on October 15, 2003. It replaced all "old" Dinar and "Swiss" Dinar banknotes, which as of January 15th 2004 were no longer legal tender.

The conversion rates for the new Iraqi dinars were as follows:

one "old" Dinar was exchanged for one new Iraqi Dinar

one unit of the "Swiss" Dinar (used throughout Iraq until the early 1990's, and still used in some northern areas of Iraq) was exchanged for 150 new Iraqi Dinars.

The new Iraqi Dinar banknotes look similar to the former national ("Swiss") Dinar notes, but have more security features to guard against counterfeiting, are more durable so will suffer less "wear and tear," and have many more denominations.

The new currency is convertible into non-Iraqi currencies, including the US dollar, at the prevailing market rate.

http://www.oanda.com/help/iraqi-dinar

I wish they would do a 1 to 1 this time.....but they have stated more then once that the exchange ratio between old for new would be 1000 to 1.....

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Nelson0528 Newbie

Nelson0528

Posted
Posted

Well, the first example is just a rough approximation on the existing 1170 to 1 rate we see today. Now if you want to exrtrapolate on the second example... if 50 fils is the lowest denomination, then it COULD be compared to our penny, as taxes and such would be computed in some whole number variation of the 50 fil unit. And THAT my friends, is a $0.20 exchange rate. SO, who knows?.... sounds good to me though!

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