Citizens complain about the difficulties of torn banknotes trading

[boomer113189]

1 - 5 - 2013

Torn banknotes circulation became the problem of economic and social, of the citizens due to the failure of vendors and stakeholders on the deal.

Ms. shade said to be suffering from torn banknotes disbursement, but shopkeepers and taxi drivers.

Nawal said Hamid Aboud, the owner of a shop that they refuse to deal with these cards, because they cannot get rid of them easily, rejecting traders received them.

The economic expert Ahmad Karim made it difficult to identify the real volume of banknotes in circulation in the market is now torn, noting that these papers are a burden on the domestic economy and causing loss by, cannot.

In addition, Finance Ministry adviser confirmed Hilal can be among the duties of the Iraqi banks receive damaged and torn banknotes and transferred to the Central Bank for disposal.

The Financial Committee approved in the House of representatives Secretary Hadi Abbas a real suffering by not trading easily torn banknotes, pointing to the possibility of addressing this problem easily within a clear strategy, but that the difficulty in switching paper money was a key part of it

My link

[TQueezy]

Trade in those torn notes to the CBI for USD and the dinar gets destroyed, lowering money supply. Then RV and they trade in USD for new dinar with higher value, the USD then being used to bump up foreign currency reserves. Win-Win

[Shelley]

Yet they say new currency won't happen until 2014 ??? I wonder what happen to the article , to replace the torn 250 and 50 notes only ??

I guess the only thing that really ticks me off, is they still have the choice to use our currency or theirs !!! More of choice than we have !!!!

Thanks for the post boomer.

[unirod]

We heard this news early last yesr. How many times can you tape together a worn out note? This recycled news is putting all of us way behind the real news curve with what is happening on the street....IMO

Thx Boomer

[dontlop]

How long does a dollar bill typically last? In: Coins and Paper Money [Edit categories]. Answer: About 1 year in circulation

[The Machine]

Well I have a whole stack of crispy new notes ..... just revalue your currency and you can have them all back !!

[katie45]

thanks for the article

[dontlop]

id say pretty much every dinar that was put into circulation in 2004 is pretty much destroyed by now .. and most of those put out into circulation prior to 2010 are also destroyed .. .. ripped ...torn .. junked .. whats left is about to be tossed in the can also .. so when they rv .. we will be holding the majority of the dinars ...,, id say they may have about 20 trillion at best still in good shape .. the rest are gone .. ..they dont last to much longer than a couple years ..

[Doctor Smith]

id say pretty much every dinar that was put into circulation in 2004 is pretty much destroyed by now .. and most of those put out into circulation prior to 2010 are also destroyed .. .. ripped ...torn .. junked .. whats left is about to be tossed in the can also .. so when they rv .. we will be holding the majority of the dinars ...,, id say they may have about 20 trillion at best still in good shape .. the rest are gone .. ..they dont last to much longer than a couple years ..

You would think they should be able to trade them in at a bank? What type of Country is this?

[jeepguy]

your correct unirod-- we did see this posted in news last year , sorry only been a new year for 5 days { hahahaha had to say it } but yes it was around the middle of the year 2012, and then they were stating ---> new currency in september 2012 , and zero`s new rate in 2013 1st month <---------- non has happened yet, so i wonder if they are about to start the currency pumper truck and drive it to death again ---> new currency and zero`s 6 2013 date line

[zul]

If you add this news to the damaged notes and low liquidity across the country, I'd say CBI has been successful in reducing their money supply...

[jeepguy]

If you add this news to the damaged notes and low liquidity across the country, I'd say CBI has been successful in reducing their money supply...:)/>

if those folks are getting worn out dinars ,, where are our nice crisp dinar coming from?? makes me wonder where are they getting the worn out money

[SocalDinar]

The economic expert Ahmad Karim made it difficult to identify the real volume of banknotes in circulation

Nice!!!!!!!!

[TLHUBER]

Well I have a whole stack of crispy new notes ..... just revalue your currency and you can have them all back !!

My sentiments as well. I will gladly give mine back.