About the issuance of a new Iraqi currency .. Soon

[yota691]

About the issuance of a new Iraqi currency .. Soon

 

BAGHDAD / Golden safe

CBI seeks to delete three zeros from the Iraqi currency since 2003. A project that raises many concerns on the street level and the business community of Iraq, and it seems economists are divided between supporters of the project see it as an opportunity to reduce the rates of inflation and unemployment, among forewarned of economic shocks may dominate the Iraqi market due to the application of this project.

The delayed implementation of the project after it has been amended, the central bank, more than once due to concerns based predominantly to the security situation and uncontrolled open market to foreign goods without restrictions and counterfeit currency circulating in the market in addition to the rampant corruption in the country.

The Iraqi News Agency quoted an independent member of the Finance Committee in parliament, Abdul-Hussein al-Yasiri on the fourth of September / September last year, saying that 2014 will see the deletion of zeros from the Iraqi currency, to be done in coordination with the Central Bank. The Yasiri that this project will lead to the reduction of the size of the national currency in circulation than four billion Iraqi dinars to one billion.

For his part, Chairman of the Finance Committee in the House of Representatives Haider Abadi It is possible to delete the zeros from the current currency, but it has been postponed until after the parliamentary elections, pointing out that studies are now to put safeguards in order to reduce fraud or making sure not to trade again currency Current.

The process of removing zeros has been postponed more than once, until called on the Economic Committee in the House of Representatives as provided by the channel "East" on the seventh of July last from the central bank, accelerate the process of deletion of zeros from the Iraqi currency tightly in a press conference held at the the process of deleting the zeros will increase the value of the Iraqi dinar will be reflected positively on the issue of reducing the rate of unemployment and poverty in the country.

But financial adviser in "North Bank" wholesome Elias said that the process of deletion of zeros is just an administrative process, and the equation of cash should remain as it is, namely that the purchasing power of the new currency should be equal to the old currency. Elias added that should the two currencies trading volumes both for a period of up to three years to withdraw gradually from the old market. Elias predicted that highlights the problems yet to be resolved if the creditor and the debtor's operations or if they hit any defect in reimbursements and withdrawals. But he ruled out the possibility that the impact on inflation rates or poverty.

For his part, Deputy Chairman of the Finance Committee in the Iraqi Parliament, Ahmed Faizullah the view of the wholesome Elias, pointing out that the deletion of zeros will not change the purchasing power of the Iraqi dinar because it is linked to the size of the industrial production and import. He added that what saved the Iraqi dinar is owning the central bank cash reserve of hard currency Osafth has formed a cover of the dinar. He called the iceberg of God to non-application of the project at this time because it would disrupt the market and the Iraqi citizens alike.

Amid those views Director noted Commissioner for "Company breeze North" to trade stocks Inas Mohammed that the stock market will be the biggest hit of changing the currency and delete the zeros. The stock is still sold in dinars, and a thousand dinars currently worth a thousand shares while the new dinar will become one after the deletion of zeros is equal to A shares, which would disrupt the stock market, which is witnessing a confused movement basically because of the security situation in the country.

Edited December 22, 2013 by yota691

[moose 57]

Hmmmm?

[sandfly]

AGAIN MORE OF IT COMING OUT

[DinarThug]

THANKS FOR COMING OUT

[TennesseeCherokee]

Great article, Yota. It looks like the volume of articles from the Finance Committee & the CBI, is on the increase. Logically, January 1 would be their best window to make this happen. Hopefully we'll all get to exit this merry-go-round in the upcoming week.

Edited December 23, 2013 by TennesseeCherokee

[jeepguy]

man  this is a  big --- buy Iraqi stocks sales pitch ---  I have seen ,   1000 dinar  =`s  1000  stocks,   and after that 1ooo  is going to be 1 ,   pushing  the  average  holder of dinar to purchase  stocks,  if they  have  studied the  zero articles long

but  take note --------> they are  stating it all in the stock  territory ,  not  in  real currency trade , 

[Biker]

And here we start all over with the mumbo jumbo, dont get excited folks they will screw it up as normal. We can only sit and wait till some one with some balls pulls the trigger.And Adam does his happy dance.

[Ms.Bean]

And here we start all over with the mumbo jumbo, dont get excited folks they will screw it up as normal. We can only sit and wait till some one with some balls pulls the trigger.And Adam does his happy dance.

 

Yea.. what he said

[vomer]

Saw this weeks ago.

[yota691]

Somebody Neg ya Biker..gotcha ya covered...

 

Edited December 23, 2013 by yota691

[SnowGlobe7]

lets hope this means what we want it to mean

[sandstorm]

lets hope this means what we want it to mean

the title is about iraq issuing a whole new currency!

its not about just adding lower denoms to the current currency. issuing a new currency, not issuing new notes.

[Dinarian64]

man this is a big --- buy Iraqi stocks sales pitch --- I have seen , 1000 dinar =`s 1000 stocks, and after that 1ooo is going to be 1 , pushing the average holder of dinar to purchase stocks, if they have studied the zero articles long

but take note --------> they are stating it all in the stock territory , not in real currency trade ,

Not clear why this is an issue. The Dow is over 1600 today and people still invest at percentages.

[mrref]

Dont mean to sound negative here but this same b/s talk has been going on for the past 10 years. Any truth to any article in regards to the rv has to come directly from the governor's Turkit mouth...

[dontlop]

Why would a even up currency swap cause economic shock?

If the two notes equal the same there should be no economic shock nothing will change

I've seen stocks split before you still have the same value when it's over nothing changes

Unless something does change

Then their would be economic shock

[MyLadiesDaddy]

Why would a even up currency swap cause economic shock?If the two notes equal the same there should be no economic shock nothing will changeI've seen stocks split before you still have the same value when it's over nothing changesUnless something does changeThen their would be economic shock

Oh but brother there will be ALLOT of shock. LOL

I may even need to change my diaper.

[SocalDinar]

I would think they would want to get the rate to 1000 per USD before they do this.

At face value this is an ugly article but maybe Im wrong.

 

Thanks Yota

[JayLay]

Oh but brother there will be ALLOT of shock. LOL

I may even need to change my diaper.

I have to agree and admit. If it lops, that doesn't change the value of the current Dinar. Unless I am missing a key piece of information, I do not see what a lop, new currency or anything regarding RD will do. The "value" doesn't change, therefore when you exchange for dollars, it will not change.

Maybe I need this dumbed down, but I don't see why people are tying this to a RV.