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. Central Bank: the envelope is not suitable for the deletion of zeros from currency


yota691
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ArrowSelected.png Central Bank: the envelope is not suitable for the deletion of zeros from currency

 

    11/24/2013 - 14:47 | Source:   SM-1-634629974004106283.png       Economy and business     156 views       Editor:    Nihad Qais  

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    ArrowSelected.png Alsumaria News / Baghdad 
counting the Central Bank of Iraq, Sunday, the current situation is "appropriate" for the deletion of zeros from the Iraqi currency, stressing that he would announce "early" to the public when it decided to delete it. said Bank Governor Abdul-Basit Turki said in an interview for "Alsumaria News", "project to delete the zeros from the Iraqi currency is not on the cards now," adding that "the current situation is not suitable for the deletion of zeros." said Turki that "the central bank will announce early to the public when it decided to delete the zeros," stressing that "the justification for continuing failure to delete the list until now. " The Committee on the economy and investment representative demanded, in (July 6, 2013), Central Bank of Iraq need to begin the process of deletion of zeros from the currency to raise the economic level, arguing that Iraq is ready for this after his release from Chapter VII. confirmed the central bank, in (April 25, 2013), that there is no intention at this time to restructure the currency and deleting three zeros from them. noteworthy that the General Secretariat of the Council of Ministers announced that, in the (April 12, 2012), for a patient in the application of the process of deletion of zeros from the national currency, which had to be shut down procedures all relating to the operation mentioned until further notice.
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Central Bank: the envelope is not suitable for the deletion of zeros from currency

 

11/24/2013 | (Voice of Iraq) - comment.PNGAdd a comment - 

 

Alsumaria News / Baghdad 

counting the Central Bank of Iraq, Sunday, the current situation is "appropriate" for the deletion of zeros from the Iraqi currency, stressing that he would announce "early" to the public when it decided to delete it. said Bank Governor Abdul-Basit Turki said in an interview for "Alsumaria News", "project to delete the zeros from the Iraqi currency is not on the cards now," adding that "the current situation is not suitable for the deletion of zeros." said Turki that "the central bank will announce early to the public when it decided to delete the zeros," stressing that "the justification for continuing failure to delete the list until now. " The Committee on the economy and investment representative demanded, in (July 6, 2013), Central Bank of Iraq need to begin the process of deletion of zeros from the currency to raise the economic level, arguing that Iraq is ready for this after his release from Chapter VII. confirmed the central bank, in (April 25, 2013), that there is no intention at this time to restructure the currency and deleting three zeros from them. noteworthy that the General Secretariat of the Council of Ministers announced that, in the (April 12, 2012), for a patient in the application of the process of deletion of zeros from the national currency, which had to be shut down procedures all relating to the operation mentioned until further notice.

 

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not sure how to  translate  what they mean  ,  first read , they seem to be saying  they can not  accommodate  the  lifting of zero`s off the smart card, because of the computer technology isn`t there ,  { 25,ooo in a computer is still 25,ooo  -- with a one to one value   but  how would they  lift zero`s  if 25,ooo might now be worth say   around 32,400 per dinar ----using a random number folks as a n example only-- }  they would need a little more computer soft wear I would imagine ,  a lot of man hours to transfer those numbers .   { and it can be said  also  to go other way too ,  25,ooo now is worth say  12,400 ---- also  an example ----  still need a lot of man hours to do the book work , but one thing for sure it would  lead a lot of people to know what the value of the dinar would be real quick !  I,m,o

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I think the Iraqis will be surprised

They stated awhile back they had enough foriegn reserves to back the dinars by 2 and. Half times

I think they will be surprised when they revalue their currency to 3 and a half times the dollar

They need a little more time to build up the reserves necessary to reach that goal of $3.50 per dinar after deleting the zeros

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Thanks 4 the articles YOTA, but not sure what Turki actually means...LOL  :confused2: 

 

1) the Central Bank of Iraq, Sunday, the current situation is "appropriate" for the deletion of zeros from the Iraqi currency

2) Bank Governor Abdul-Basit Turki said in an interview for "Alsumaria News", "project to delete the zeros from the Iraqi currency is not on the cards now," adding that "the current situation is not suitable for the deletion of zeros."

3) Said Turki that "the central bank will announce early to the public when it decided to delete the zeros,"

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