The Central Bank will make its next year (50) thousand dinars coins smaller by Arabic and Kurdish

[k98nights]

 

Old Iraqi coins

 

 

Author: ASJ, NF
Editor: NF, RS
13/11/22 16: 16
Hits: 157

 

Range/Baghdad

The Iraqi Central Bank, unveiled on Friday, would produce coins in small groups, indicating that these currencies, which have been issued sometime next year, will be written in both Arabic and Kurdish, a proposal for large banknotes worth fifty thousand dinars.

He said the Central Bank Governor said Abdel Basset Turki told the (term), "the Central Bank is currently working with tables under the supervision of specialized committees for the issuance of a new currency of large groups.

The Turkish "the largest category of coins available now is the 25 000 Iraqi dinar and buying power with not more than 23 dollars, so there is more of a proposal to the Central Bank, to ask more of the existing currencies, such as the issuing of up to 50 dinars."

"A Turkish Central Bank also issued coins, the absence of these classes that facilitate the process of dealing and purchase between the citizen and the Iraqi market, which was the Central Bank's handling", stating that "the small coins will be in both Arabic and Kurdish."

The CBI was founded as an independent bank under its law of the 6th of March of 2004, as an independent body and is responsible for maintaining price stability, monetary policy implementation, including exchange rate policies and procedures per day to buy and sell currencies.

 

 

http://www.almadapress.com/ar/news/21604/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%B3%D9%86%D8%B5%D8%AF%D8%B1-%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84-%D8%B9%D9%85

Edited November 23, 2013 by Markinsa
Left Aligned Text

[EagleEye]

so RV already and get the value you need with the denominations you want !!! 

 

c'mon Iraq time to put on your big boy pants...and remove the diapers.....too full anyway 

[sandstorm]

no lower denoms; but higher denoms. quite the revelation

[SocalDinar]

The US will soon have to do the same as inflation runs out of control.  I'm guessing we are in double didgit headline inflation while the Fed says 2 %!  I hundred dollar bill buys less and less everyday.

Food packaging sizes are shrinking at the grocery every day.  These are hidden taxes everyone. We will soon need a $250.00 Note

 

This article is a bit confusing. Are they talking about Iraq or Turkey or Both.?

 

This is better than a RD but still not what we want to hear.

[zigmeister]

This article is a bit confusing.  However taking a closer look it appears The CBI is going to issue coins in small groups.  This sounds appealing.  It seems on the table is the issuing of a new currency of larger groups.  But what is going to happen they are going to produce coins in small groups next year.  Interesting they refer to the 25,000 dinar as a coin.  So in this article it seems to me they are referring to lower denominations.  Putting them out in the interim before the new currency.  

[zul]

If they are bringing another 3 zeros note out, make sure they import a lot more trucks to carry those notes..  

 

Anyway, this was what they said a year ago.....

 

CBI Source: Reveal the intentions of raising the value of each Iraqi dinars to equal one dollar

 

12/09/2012

A source at the Central Bank of Iraq for four companies currently competing to win a draft print the new Iraqi dinar, which will generate graceful after deleting three zeros from him, while Samay central bank to raise the value of the dinar against the dollar gradually down to the day to start replacement where the value will be in the absence of a fluctuating one Iraqi dinars equivalent to U.S. dollars one.

 

 

 

and this as well.....

 

Central Bank starts with the application of a new strategy for the dinar to the dollar is equal to

 

Central Bank announced new steps that will raise the value of Iraqi dinar against the dollar. The deputy governor of the Bank Mazhar Mohammad Saleh said that "the central bank began to apply the new strategy will emerge where the equation is equal dinar and the dollar if it is available the appropriate atmosphere."

 

 

29/05/2012

 

 

[jeepguy]

uhhhh ,,, dang   if I  do remember this section right ,   there was a topic on other forums  where the idea was ,  that  if the zero`s  were going to be taken off ,  this would be a good thing . {  taken the notes out of circulation , or off the streets  ?  }    and there was someone who mentioned , if the notes started coming out in larger denominations look out ,  not going to be a good out come in the long run ,  it would make central bank have an easier time by removing the zero`s off the notes instead of what we were looking for  { l-o-p }   example --- 10,ooo 25,ooo now a 50,ooo 100,ooo  <-------- not what we need  10 25 50 100  just me thinking   

[wouldchip]

So, as you can see they are Not looking at an RV anytime soon.

[zul]

On a positive note, if this news is to be believable, this should put the LOP theory to rest once and for all because CBI are adding new categories of  "coins in small groups" and  "a proposal for large banknotes worth fifty thousand dinars". 

 

And perhaps, after getting Iraq out of Multiple Currency Practices (MCP) ~ as per CBI announcement/instruction to the bank to sell dollar at 1177 (which is 1% of CBI quoted price) ~ Turki can now concentrate on raising the value of the dinar  

 

Sunday, 16 December, 2012

 

Council authorized the management of the Central Bank of Iraq the new governor Abdul Basit Turki powers raise the value of the Iraqi dinar against other foreign currencies early next year, 

 

 

 

 

Sorry Fib.
 

[Carvette]

I say YES---around the corner, it's coming----Go RV

[Butifldrm]

This article is a bit confusing.  However taking a closer look it appears The CBI is going to issue coins in small groups.  This sounds appealing.  It seems on the table is the issuing of a new currency of larger groups.  But what is going to happen they are going to produce coins in small groups next year.  Interesting they refer to the 25,000 dinar as a coin.  So in this article it seems to me they are referring to lower denominations.  Putting them out in the interim before the new currency.  

Zig, I can't remember when, about 2 years ago, but basically the CBI was pulling all the 50 Dinar notes, and destoying them.   I remember this because at that time there was a big push for speculators to get  lower denoms. I remember reading an article about these denoms the 50's being burned.  I searched but cannot find it/them.  Anyway my point is, that now the CBI is now wanting to re-issue these denoms in metal, their excuse is durability.  They took the coins off the markets before I got in this investment, before August of 2009. The reason, it cost more money to mint them than they were worth.  So, if the CBI is planning to re-issue the 50 Dinar in coin, it's gonna be approximately worth less than 5 cents at the present rate.  Honestly, I don't see it unless they are gonna disperse coinage already minted and attach the 50 dinar value.  JMO

[keepmwlknfny]

This tells me they arent planning on doing anything soon if this is true......

[Djorgie]

Hmmmmm... A little confusing for me. Hopefully they won't do what I THINK they are saying. Anyway, made me think of the CBI website and the fact that they have had two uncirculated coins listed on their site for a long time now. Those are the 25 dinar coin and the 100 dinar coin. Anyone have an opinion on why they have these coins listed even though they have yet to be put into circulation and where would they play in all of this coin talk? Just seems a bit strange that they would have these coins which are already minted and ready to go just stored laying around somewhere and now they are talking about spending more money to mint more coins of a higher value when their currency isn't currently worth anything.

[sandfly]

THEY SAID THE SAME THANG LAST YEAR

[jeepguy]

THEY SAID THE SAME THANG LAST YEAR

thanks

[zigmeister]

Zig, I can't remember when, about 2 years ago, but basically the CBI was pulling all the 50 Dinar notes, and destoying them.   I remember this because at that time there was a big push for speculators to get  lower denoms. I remember reading an article about these denoms the 50's being burned.  I searched but cannot find it/them.  Anyway my point is, that now the CBI is now wanting to re-issue these denoms in metal, their excuse is durability.  They took the coins off the markets before I got in this investment, before August of 2009. The reason, it cost more money to mint them than they were worth.  So, if the CBI is planning to re-issue the 50 Dinar in coin, it's gonna be approximately worth less than 5 cents at the present rate.  Honestly, I don't see it unless they are gonna disperse coinage already minted and attach the 50 dinar value.  JMO

The Turkish "the largest category of coins available now is the 25 000 Iraqi dinar and buying power with not more than 23 dollars, so there is more of a proposal to the Central Bank, to ask more of the existing currencies, such as the issuing of up to 50 dinars."

I vaguely remember that Butifldrm, too many Iraqi articles since then.  I am not sure they are talking about metal coins in this article.  The more I read it, I think they are talking about issuing smaller denominations in the currency they have.  They mention the 50,000 dinar and yet in this sentence they write 50 dinars, as in issuing of up to 50 dinars, not 50,000.  Of course forever hopeful, it is my opinion only.

[Rasica]

The Turkish the largest category of coins available now is the 25 000 Iraqi dinar => Lost in translation?
 

 

 

 

[FlyHi]

My take is that Turki (the CBI spokesperson) wants to issue a currency equivalent to 50 dollars hence the 50,000 dinar note.

The rest is just padding to add to the confusion... It's all smoke and mirrors again. So much is lost in translation!

Edited November 24, 2013 by FlyHi

[gregp]

The Iraqi Central Bank, unveiled on Friday, would produce coins in small groups, indicating that these currencies, which have been issued sometime next year.

[SgtFuryUSCZ]

***///

 

Guess that's one way to get around the pervasive problem of torn and tattered currency notes....

 

Big problem there that...  hard coins can't be torn, taped and glued and removes the complaints of the folks about the money not

being accepted by merchants in that condition, and the inability by merchants to make change....

[unirod]

***///

 

Guess that's one way to get around the pervasive problem of torn and tattered currency notes....

 

Big problem there that...  hard coins can't be torn, taped and glued and removes the complaints of the folks about the money not

being accepted by merchants in that condition, and the inability by merchants to make change....

Sgt;

After a couple days of thinking about this article I'm with you as need for coin makes sense in domestic transactions. You have to make change. If you consider the Euro, it has 1, 2, and 5 euro coin, as well as small coin (nickles,dimes). So do many other strong currencies. If distribution is next year of these coins, then the value of the Dinar has to go up. If transactions on the street take wheelbarrows of notes now. Are Iraqi's going to start using pack mules to carry low value coin around in sacks?

IMO

[handy]

imo , it's good news that they're issuing coins. the 50,000 dinar note is probably misinformation which they've done before when talking about a 100,000 note a couple of yrs. ago . They are known for misprints and misinformation . that's just my 2 cents worth

[Off-the-grid]

The key to this article lies in the details of the translation.  My view is that at outside group is proposing TO the CBI that they would like to see 50,000 dinar notes printed, since the dinar is currently worth so little.  Clearly, this group is not expecting an RV, and is promoting larger notes instead of the expense of redenominating (bunny-earing).  I do NOT read this article as coming from the CBI itself.

 

Hence the confusion.

 

Peace and Prosperity

[yota691]

Central Bank: the issuance of the currency (50) thousand dinars and coins small

Written by: Citizen newspaper | | Hits: 30

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BAGHDAD - A citizen 

revealed the Iraqi Central Bank, expressed his intention to issue coins of categories of small, indicating that those currencies, which may be issued sometime in the next year, will be written in Arabic and Kurdish, confirming the presence of a proposal for issuing Banknotes large value of fifty thousand dinars. said Governor of the Central Bank and the Agency Abdel Basset Turki said in an interview to the (long-Presse), "The Central Bank is currently working in accordance with the tables and under the supervision of specialized committees to issue coins with new large groups." and the Turkish "The largest category of coins that are available now are the (25 ) thousand Iraqi dinars and the purchasing power it does not exceed $ 23, so there is more of a proposal to the Central Bank, to put coins larger than the existing, such as issuing currency up to (50) thousand dinars. "He Turkish that" the central bank is also working on a version of currencies small metal, the lack of these categories that facilitate the process of buying and dealing between the citizen and the Iraqi market, which was dealing with the central bank, "noting that" small coins will be in Arabic and Kurdish. "

[Defender]

Central Bank: the issuance of the currency (50) thousand dinars and coins small

Written by: Citizen newspaper | | Hits: 30

User Rating:   / 0 

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BAGHDAD - A citizen 

revealed the Iraqi Central Bank, expressed his intention to issue coins of categories of small, indicating that those currencies, which may be issued sometime in the next year, will be written in Arabic and Kurdish, confirming the presence of a proposal for issuing Banknotes large value of fifty thousand dinars. said Governor of the Central Bank and the Agency Abdel Basset Turki said in an interview to the (long-Presse), "The Central Bank is currently working in accordance with the tables and under the supervision of specialized committees to issue coins with new large groups." and the Turkish "The largest category of coins that are available now are the (25 ) thousand Iraqi dinars and the purchasing power it does not exceed $ 23, so there is more of a proposal to the Central Bank, to put coins larger than the existing, such as issuing currency up to (50) thousand dinars. "He Turkish that" the central bank is also working on a version of currencies small metal, the lack of these categories that facilitate the process of buying and dealing between the citizen and the Iraqi market, which was dealing with the central bank, "noting that" small coins will be in Arabic and Kurdish. "

 

Through further translation (not my translation) talk about the web seems to be:

1) Upon enactment, the zeros are dropped and the 25K=25 dinars. 50K=50 dinars, etc. and they adjust the rate. Coin use then are needed in the marketplace. 

2) They adjust the rate as well and after spread we end up between a 10%- 35% Net. More probable is 15-25%.

A lot of people are indicating that this is a LOP and that it is set in stone for 2014 ... do you think a LOP is the possible conclusion?

Thanks