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CBI subtracting zeros from the local currency


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CBI subtracting zeros from the local currency :eyebrows: 
 
14/4/2013 11:45:00

 

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4343111442013_bve3.jpg       Deleting three zeros from the local currency

 
Said parliamentary Finance Committee, the central bank, according to correspondences official start of this year procedures deleting three zeros from the local currency, saying that it would lead to the development of cash transactions and international economic. 
 
A member of the Finance Committee Abdul Hussein al-Yasiri Center Brief for the Iraqi Media Network, said, "according to Almkhtabat official with the central bank, it is supposed to start this year Balastaadadt necessary to delete three zeros from the local currency. " 
 
He Yasiri, that "the local currency will reduce from four billion units to one billion units which will make there Anciabh in the process of the transfer of currency." 
 
and between Yasiri , that "the Finance Committee supports changes to the local currency because of the importance of the country's economic." 
The central bank says that the deletion of zeros comes within the plan for the development of monetary policy and the reform of currency management. 

 
and was a member of the Finance Committee parliamentary Haitham al-Jubouri, had said in an earlier statement to him that "replacement currency and delete Ocefarha will features the best and the biggest decrease of the volume of inflation and revive the dinar due to lack of demand for the dollar, which comes positive aspects significant to the economy of the country, and replaced revive economy Alibd but needs political environment and economic environment for the implementation of the project without facing any obstacles lead to the deterioration of the currency Iraqi ". 
 
was the Iraqi Central Bank had indicated in August that it plans to delete the zeros from the Iraqi dinar to facilitate financial transactions made ​​through cash in most cases. 
 
Among the difficulties faced by Iraq if they are to foot the deletion of zeros from the dinar is withdrawn about 30 trillion dinars in circulation in the Iraqi market, then discarded and replaced with a new currency.

Edited by Markinsa
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But The World Goes 'round

 


Sometimes you're happy, sometimes you're sad
But the world goes 'round
Sometimes you lose every nickel you had
But the world goes 'round

Sometimes your dreams get broken in pieces
But that doesn't alter a thing
Take it from me, there's still gonna be
A summer, a winter, a fall and a spring

And sometimes a friend starts treating you bad
But the world goes 'round
And sometimes your heart breaks with a deafening sound

Somebody loses and somebody wins
And one day it's kicks, then it's kicks in the shins
But the planet spins, and the world goes 'round-
But the world goes 'round
But the world goes 'round

Sometimes your dreams get broken in pieces
But that doesn't matter at all
Take it from me, there's still gonna be
A summer, a winter, a spring and a fall

And sometimes a friend starts treating you bad
But the world goes 'round
And sometimes your heart breaks with a deafening sound

Somebody loses and somebody wins
Then one day it's kicks, then it's kicks in the shins
But the planet spins, and the world goes 'round
And 'round and 'round and 'round and 'round
The world goes 'round and 'round and 'round
And 'round!
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Just fyi - this has already been posted - a couple threads down from this one, actually.  

 

http://dinarvets.com/forums/index.php?/topic/146032-parliamentary-finance-central-bank-starts-during-the-current-year-measures-the-deletion-of-zeros-from-currency/

 

 

yota's is from pukmedia and dated today, the other one is from alsabaah dated yesterday...means more confirmation

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Among the difficulties faced by Iraq if they are to foot the deletion of zeros from the dinar is withdrawn about 30 trillion dinars in circulation in the Iraqi market, then discarded and replaced with a new currency.

 

Iraq has to foot the bill of the deletion of zero's of 30 trillion dinars plus new currency.  This is considered a difficulty or something they do not want to do because of the expense and replace with new currency.  The smart cards will probably take some of the sting out of a bunch of new currency.
 

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"Replacement and delete Ocefarha will features the best and biggest decrease the volume of inflation and revive the dinar to lack of demand for the dollar, which come positive aspects significant to the economy of the country, and replaced revive economy Alibd but needs political environment and economic environment for the implementation of the project without facing any obstacles lead to the deterioration of the currency Iraqi."   

 

What is their plan to give fair value to their currency so they can compete in the world economy?  Do they RV call in the old notes and then print a new currency?   

 

 

 

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GM and thanks Yota.

 

A lot of speculation going on with yesterdays article. People getting pretty worked up from these articles even though we have seen these same types of articles for some time now.  No worries. Our dinar have value.

 

 

Here is one from December 2011.

 

 

 

 

 

11:10 2011-12-12 11:10 2011-12-12

Haitham al-Jubouri: There are indications that the Iraqi dinar is confirmed, the dollar during the next two years
37536.jpg

بغداد-وارع - BAGHDAD - babysit -

 

 Likely a member of the Finance Committee and the National Alliance MP Haitham al-Jubouri equal to the price of the Iraqi dinar against the dollar over the next two years after the implementation of the project to delete the three zeroes from the Iraqi currency.

". Jubouri said that "the orientation done by the Central Bank of Iraq with the fact that the price of the dinar against the dollar during the current period, it is a sign indicating that monetary policy in Iraq is able to make the Iraqi dinar is equal to the dollar" any dinar per offset by one dollar.

 He pointed out: that this retention was by selling large amounts of dollar at auction and inject others to Iraqi banks to control the rate of the Iraqi dinar against the dollar.The Jubouri: that the next two years will witness went last with the Central Bank to make the Iraqi dinar is equal to the dollar by pumping larger quantities of the dollar and sold at auction in addition to the project to delete three zeros from the Iraqi currency.

 He continued: Therefore, the citizen and the Iraqi trader does not need to replace his money to Atarand buy a commodity or a car or otherwise, stressing that the project to delete the three zeroes from the currency "based" and issued its decision and irreversible and started his first steps will be implemented during the next two years from now

 

 

http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&eotf=1&u=http%3A%2F%2Falrayy.com%2F37536.htm&act=url

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I'm not an international expert on investment but I think I can handle step #1 for you. Revalue your currency to something worth more than a tenth of a penny, and take it international and you might just get some interest in companies and international finance coming into Iraq. Put someone other than malarkey in charge of security so if I come I will feel safe to do business and won't have to spend a big portion of my profits on a team of bodyguards.

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GM and thanks Yota.

 

A lot of speculation going on with yesterdays article. People getting pretty worked up from these articles even though we have seen these same types of articles for some time now.  No worries. Our dinar have value.

 

 

Here is one from December 2011.

 

 

 

 

 

11:10 2011-12-12 11:10 2011-12-12

Haitham al-Jubouri: There are indications that the Iraqi dinar is confirmed, the dollar during the next two years
37536.jpg

بغداد-وارع - BAGHDAD - babysit -

 

 Likely a member of the Finance Committee and the National Alliance MP Haitham al-Jubouri equal to the price of the Iraqi dinar against the dollar over the next two years after the implementation of the project to delete the three zeroes from the Iraqi currency.

". Jubouri said that "the orientation done by the Central Bank of Iraq with the fact that the price of the dinar against the dollar during the current period, it is a sign indicating that monetary policy in Iraq is able to make the Iraqi dinar is equal to the dollar" any dinar per offset by one dollar.

 He pointed out: that this retention was by selling large amounts of dollar at auction and inject others to Iraqi banks to control the rate of the Iraqi dinar against the dollar.The Jubouri: that the next two years will witness went last with the Central Bank to make the Iraqi dinar is equal to the dollar by pumping larger quantities of the dollar and sold at auction in addition to the project to delete three zeros from the Iraqi currency.

 He continued: Therefore, the citizen and the Iraqi trader does not need to replace his money to Atarand buy a commodity or a car or otherwise, stressing that the project to delete the three zeroes from the currency "based" and issued its decision and irreversible and started his first steps will be implemented during the next two years from now

 

 

http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&eotf=1&u=http%3A%2F%2Falrayy.com%2F37536.htm&act=url

I agree, there is really nothing to new to what has already been stated many times before.

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I agree, there is really nothing to new to what has already been stated many times before.

They are ALL recycled!!!! but every time they pop up the lopsters come running have u noticed they never comment on positive news and progress in Iraqi news articles. Never seen keepem, RVpleasetoday, Boomer,flatbush,Dinarck, never once did i see them comment and say something positive. If u dont believe it look through some of their posts. I just find it odd is all but hey their choice.

Edited by easyrider
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They are ALL recycled!!!! but every time they pop up the lopsters come running have u noticed they never comment on positive news and progress in Iraqi news articles. Never seen keepem, RVpleasetoday, Boomer,flatbush,Dinarck, never once did i see them comment and say something positive. If u dont believe it look through some of their posts. I just find it odd is all but hey their choice.

Then you havent looked hard enough.....but, then again, there isnt much positive being talked about when they talk about their currency. Until they come up with a solution to reduce the money supply without redenominating, then there isnt much to be excited about.....it is what it is.....

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But The World Goes 'round

 

Sometimes you're happy, sometimes you're sad

But the world goes 'round

Sometimes you lose every nickel you had

But the world goes 'round

Sometimes your dreams get broken in pieces

But that doesn't alter a thing

Take it from me, there's still gonna be

A summer, a winter, a fall and a spring

And sometimes a friend starts treating you bad

But the world goes 'round

And sometimes your heart breaks with a deafening sound

Somebody loses and somebody wins

And one day it's kicks, then it's kicks in the shins

But the planet spins, and the world goes 'round-

But the world goes 'round

But the world goes 'round

Sometimes your dreams get broken in pieces

But that doesn't matter at all

Take it from me, there's still gonna be

A summer, a winter, a spring and a fall

And sometimes a friend starts treating you bad

But the world goes 'round

And sometimes your heart breaks with a deafening sound

Somebody loses and somebody wins

Then one day it's kicks, then it's kicks in the shins

But the planet spins, and the world goes 'round

And 'round and 'round and 'round and 'round

The world goes 'round and 'round and 'round

And 'round!

The wheels on the bus go round and round too......what's your point?

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These articles come and they go. RV,or RD. At the present it's like the Gurus attempting to pick a rate and date. The fact is, none of us know for sure what they are gonna do, because it seems that these people would walk a mile just to tell a lie.  Just be patient, wait and see. If they say  "this year", then maybe your Grandchildren will be around to handle whatever transaction needs to occur.

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Iraq: Start-deleted 3 zeroes from the currency

gal.Iraqi.dinars.jpg_-1_-1.jpg

BAGHDAD, Iraq (CNN) - said parliamentary Finance Committee in Iraq, said the central bank, according to the communications of the official start of this year procedures deleting three zeros from the local currency, saying that it would lead to the development of cash transactions and international economic, in a new development at the level of currency Iraq, which has suffered large waves of inflation and falling exchange rates.

 It quoted "IMN" official member of the Finance Committee, Abdul Hussein al-Yasiri, saying it was supposed to begin preparations for the deletion of three zeros from the local currency, adding that the local currency "cut of four billion units to one billion units, which will make a smooth in the process of the transfer of the currency. "

Yasiri between the Finance Committee "support to make changes to the local currency because of the economic importance of the country." The central bank says that the deletion of zeros is part of a plan to develop its monetary policy and currency management reform.

 The CBI has said in the August / past that he plans to delete the zeros from the Iraqi dinar to facilitate financial transactions made through cash in most cases.

Among the difficulties faced by Iraq if he wanted taking the deletion of zeros from the dinar is the withdrawal of about 30 trillion dinars in circulation in the Iraqi market, then discarded and replaced with a new currency.

Edited by yota691
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Paper currency needs to be replaced every 2-3 years due to wear and tear. So if the CBI were to undertake a 3 year program to convert to a new class of currency (Kurdish language, delete zeros and add security) it would actually cost nothing. That change is overdue.

Add sub-dinar coins that last 20 years would bring in-country commerce to world class level...Doing both would de-dollarize the country.

They will do this as a matter of necessity. A necessary step to increasing the real value of the dinar.

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Then you havent looked hard enough.....but, then again, there isnt much positive being talked about when they talk about their currency. Until they come up with a solution to reduce the money supply without redenominating, then there isnt much to be excited about.....it is what it is.....

Hey Keep  :woot:  , I can think of one thing.  It says "LOCAL" currency.  Local meaning taking up the 3 zero notes in house, not outside.  And keeping in mind both currencies running side by side for 2 years.  So, they RD in,  and RV the rest.  Isn't that what Shabibi said?   RD, balance the books and RV the rest (meaning outside country).  So, it's not all that bad.  You know Kaperoni has been talking about a float.  Well, you take this concept, and after RD it could float up, within the two years, but I do remember reading that Iraq would have a 'managed float", and not a free float.  I don't know, just bringing in a blast of the past.  :)

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Hey Keep  :woot:  , I can think of one thing.  It says "LOCAL" currency.  Local meaning taking up the 3 zero notes in house, not outside.  And keeping in mind both currencies running side by side for 2 years.  So, they RD in,  and RV the rest.  Isn't that what Shabibi said?   RD, balance the books and RV the rest (meaning outside country).  So, it's not all that bad.  You know Kaperoni has been talking about a float.  Well, you take this concept, and after RD it could float up, within the two years, but I do remember reading that Iraq would have a 'managed float", and not a free float.  I don't know, just bringing in a blast of the past.  :)

How can you revalue part of the currency, and redenominate the rest? Not to mention it would be making all us foreigners rich, while giving them nothing.

Im pretty sure that wouldnt fly lol.....

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