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Finance Committee: the speed of the damage dinars with small groups behind the scarcity in the domestic market


yota691
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21-09-2013 10:40 AM

 

 


Baghdad (news) .. She attributed the Finance Committee, the parliamentary reasons for the scarcity of dinars with small groups in the local market to speed damaged, ask the central bank to print currencies new and pull damaged them to create a balance amount of the categories in the Iraqi market. Deputy Chairman of the Committee MP Ahmed Hassan (of the Agency news): that the majority of citizens and owners of shops and buses suffer from scarcity of the presence of dinars with small groups in particular (250) JD (1000) dinars, because of the speed spoilage. said: that the central bank demands to print currency with new categories of small, good quality and replaced categories damaged for the purpose of creating a balance in the domestic market quantities of dinars in circulation. This has a number of citizens have complained about the lack of a currency with small classes (250, 500, 1000) dinars, demanding the central bank to pump more volumes in the local market. / End / 8.'s. m /
 
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wow !  they know they need smaller currency notes , but they are still not looking low enough in values , like 1`s 5 `s 10`s and so on ,   but  will they need to have a better value when they finally release those new notes, I am thinking it would be cost effective if they raised the value and also let loose the new notes,  they see the need for new notes , but they also need to have trust back in dinar ,,,,,,,,,,,

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wow !  they know they need smaller currency notes , but they are still not looking low enough in values , like 1`s 5 `s 10`s and so on ,   but  will they need to have a better value when they finally release those new notes, I am thinking it would be cost effective if they raised the value and also let loose the new notes,  they see the need for new notes , but they also need to have trust back in dinar ,,,,,,,,,,,

 

As we know they brought out the small denoms out before but no one wanted to use them because the were worthless. Now make them more valuable and they will. 

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One thing for sure, there is a reason they have not replaced the dilapidated dinar in lower denoms.  As far as I know up until now they have replaced them.  They say the lower denoms are scarce and beaten up, can they actually wait until 2014 to replace them or change out this currency for a new currency?  Another question comes to mind, they do not mention the 10,000 or 25,000, they have more value and can buy more stuff, you would think they would also be tattered, would that be because they are not available in the market?  So the dollar and the tattered dinar(which is scarce), must be what they are using.

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Still no word yet on the 10's, 20's, 50's and 100's but this looks to be a nice start and a good way to start pulling in some of the 5, 10 and 25K notes without alerting the people to other possible changes in the IQD.   Finance Committee: CBI to pump small class dinars (250,500,1000) into marketsPosted: September 21, 2013 in Iraqi Dinar/Politics
Tags: Ahmed Hassan, Baghdad, Central bank, exchange rate, Iraq, Iraqi dinar, News agency, United States Senate Committee on Finance

screen-shot-2013-09-21-at-10-35-05-am.pnFinance Committee: rapid damage of small groups dinars behind either in the domestic market

21-09-2013 10:40 AM

Baghdad (newsletter). The parliamentary Finance Committee attributed the reasons for the dearth (scarcity) of small groups in dinars, [in] the local market [due] to perishability, prompting the Central Bank to print new currency and drag the damaged ones to balance the quantity of categories in the Iraqi market.

The Vice-Chairman of the Committee, said attorney Ahmed Hassan (News Agency): most of the citizens and shopkeepers and city buses with a scarcity of small groups especially dinars (250) (1,000) dinars because of perishability.

He added that the Central Bank is printing new currencies with small classes, good quality and [will] replace damaged categories for the purpose of creating a balance in the local market with quantities traded dinars.

This and a number of citizens have complained about the lack of currency of small groups (250, 500, 1000), demanding the Central Bank pumped more quantities on the domestic market.

http://bit.ly/1bxRjoi

 

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The way I see it, there are 2 outcomes to it.  Why would the country need small denoms if their currency is virtually worthless?  Because they will either RV to fill the need, or... Well... Ya know... That other thing...

 

 

The Dinar is not really worthless in country (IRAQ). In IRAQ, you can use Dinar to purchase goods in the marketplace. It's just worthless outside the country because no other country recognizes it. That has not happened yet.

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As to what any of this really means, (if anything) I just am looking for crumbs on the floor, in the hope that it will eventually lead me to a pie in some other room.

 

Makes sense that it could pull in some of the larger notes though.

 

Heck, I'd be willing to trade my larger notes in for a stack of 250's if there were no spread or commissions involved.

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As to what any of this really means, (if anything) I just am looking for crumbs on the floor, in the hope that it will eventually lead me to a pie in some other room.

 

Makes sense that it could pull in some of the larger notes though.

 

Heck, I'd be willing to trade my larger notes in for a stack of 250's if there were no spread or commissions involved.

i don't think it's at all for replacing 25k, 10k, or other large notes. That would equivalent to McDonald's, breaking a 20, and giving you quarters, fifty cent pieces, and dollars as change. It's not feasible for a country that prefers the dollar anyways.

It looks like what it says. Replacing damaged currency, imo

The 1000 note is like our dollar

500 note like 50 cents

250 is like our quarter

It's what is used the most and gets worn out the most

Go figure

agree. It's important, if the buyer is always rounded up and loses the power of the coin

That's all I see. Most anything else, would be reading something into it, that's not there. Jmo

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they are waiting to release the new notes with Kurdish language on them....

I agree the new notes will have Kurdish language on them maybe just the numerical denomination will include Arabic Kurdish and English. But they will include Kurdish language on the new Iraqi dinar when it's released. Hopefully before the end of the year or when the new budget goes into effect.

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