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Iraq issued a new currency with a high security specifications

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Iraq issued a new currency with a high security specifications

2014-04-23 Khaled Al-Taee of Baghdad

 

Iraqi currency checks before use in place in Baghdad in 2008. The Iraqi Central Bank announced new security features to prevent counterfeiting. [Al-Saadi/AP]

The Central Bank announced last week a new paperless currency printed with signs of extra security make it difficult to forge or manipulate them.

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The Central Bank's Treasury Director Ihsan HostMonster Al-yasseri said the Central Bank has printed currency notes of small groups (250, 500 and 1000) and also large groups (5, 10 and 25) 1,000 dinars ".

"The new currency that we started to put up small trading does not differ much from the currencies currently circulating among citizens as to form, but was provided with technical specifications more efficient and safer where they contain security features and many technical features make currency longer-lived and difficult or impossible to falsify."

These include tags added security thread and a colored bar to view the mm one for small coins and four millimeters to large, visible and coloured filaments do not see through the use of detectors, he said.

In addition to sophisticated, high-quality brand know balsbark in place in several countries of the world, according to Al-yasiri.

Al-yasseri said that these features would contribute to enhancing the protection of Iraqi money from counterfeiters and manipulators.

He noted that the "counterfeiting some currencies that are currently very low and large groups can be detected easily even without having to pass the currency forgery detectors".

To enable blind and visually impaired citizens of new currency trading, contained tags or burrs. It was painted with protective material to prevent damage caused by continuous trading, according to Al-yasiri.

"Age is world banknotes between three to five years, and the current Iraqi currency extends lifespan of about 10 years and has a lot of categories especially small and worn."

Gradual replacement

Al-yasseri said the total value of banknotes to be printed about five trillion dinars (2.7 billion dollars) and will inject trading instead of categories used gradually.

He noted that "the new currency would not eliminate rolling current paper money will be working groups developed side by side with the old".

The beautiful name Economist Antoine to the reprinting of the Iraqi currency several years after development was "essential".

He said that "a lot of current cash categories of consumption, it was necessary to renew it with added features that make it a currency able to more effectively withstand continued use and also attempts to falsification."

Antoine said that there are many modern techniques and tags that have been introduced in recent years worldwide to immunize currency forgery and manipulation.

It was necessary to increase the awareness of the characteristics and specifications of new denominations and the importance of reprinting and circulation of currency.

In turn, a member of Parliament's Economic Committee, Attorney Ibrahim Al-Rikabi, a step the Central Bank of Iraq, said the renovation of the currency is a good step towards monetary reform.

Rikabi said, "we are replacing the old currency with new ones would be of high quality properties in terms of printing and forgery and tampering.

He noted that the measure "will give a great power of the Iraqi dinar against other world currencies, as well as the ease of carrying and trading denominations yellowed in the banking and monetary exchange."

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"The Central Bank's Treasury Director Ihsan HostMonster Al-yasseri said the Central Bank has printed currency notes of small groups (250, 500 and 1000) and also large groups (5, 10 and 25) 1,000 dinars ".

Lop... what lop.  I don't see no stinkin' lop.  :bump: 

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to the poster - please don't scare us by saying there is a new currency...thanks

 

it's just changes to the existing currency

 

a new currency means an LOP and that means we've wasted our time

 

this is good news

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Come on Iraq GO undervalued IQD Go RV!!!!!

He noted that the measure "will give a great power of the Iraqi dinar against other world currencies, as well as the ease of carrying and trading denominations yellowed in the banking and monetary exchange."

Come on Power!!

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Come on IRAQ RI to $3.22 plus inflation to $3.86

Or just over Kuwait a cent $3.56 has a nice ring to it.

RV / RI / Rent u going to pull that trigger

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I think I know what the problem has been all along,

in regards to Iraq taking forever to get anything done.

 

Quote: He noted that "the new currency would not eliminate rolling current paper money will be working groups developed side by side with the old".

 

All this time, they've been using their currency as rolling paper

and smoking dried camel dung.

 

I heard that that stuff is better than anything you can get in

Humbolt County...

 

 

:rulez:

Edited by Markinsa
Removed Image for Language
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Now you just made my day a little lighter. Never thought about smoking it. :blush: That may be the only use we will see. GEEEzzzzz. I hope not! :bump:LMAO

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whhooop  whoooop   bayyyyy beeeeeee   now  lets look at the way stuff gets  re-versed  translated ---- o.k.  I give  them  the   250 , 500,  1000   now  lets  look at the way  the next group  might have been  turned around - if they are saying  they printed  5, 10 , 25 ,   thousand <----------  that  might be  they printed  thousands  of  the   5 group  the 10 group  and the 25 group    which would  mean  these  are the lower notes we have heard about  over the last few years  they said they  could not be printed , but in fact ----------  they were printed and put on hold till now ,  and not  to for get  the gold  coinage and  ingots   bammmmmmmmmm       :rodeo:


give adams  new  feature  a ride   :lol:

Edited by jeepguy

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  "has printed" and "5,10, & 25 dinar" notes are the two key parts in this article.

 

"HAS"......, thus saying they are already printed....

 

and.............

 

AND !!! the lower denomination notes of 5, 10, & 25.

 

The ONLY reason new smaller notes are needed is order to accommodated a much high valuation of the Dinar.

They are worthless scrap paper otherwise.

 

I've said this before.... that an RV cannot happen without the lower denom's already printed and in place.

 

I LIKE this article VERY much !!

Thanks  deniscanada.

 

The best things in life RV

 

yak

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The rate change is coming hopefully very soon. Yes baby, Momma needs to be pampered at the spa for a month, then off to paying off the bills.

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Iraq issued a new currency with a high security specifications

2014-04-23 Khaled Al-Taee of Baghdad

 

 

He noted that the measure "will give a great power of the Iraqi dinar against other world currencies, as well as the ease of carrying and trading denominations yellowed in the banking and monetary exchange."

 

If they are going to maintain those same denominations, the only way carrying the currency would be any easier (than it is now); is when they increase the exchange rate. 

Iraqis would no longer have to carry as many banknotes...

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Another Translation:



 

Iraq's new banknotes include stronger security features
2014-04-23 By Khalid al-Taie in Baghdad
 
The Central Bank of Iraq is replacing Iraqi banknotes with new ones containing additional security features to make the currency more difficult to counterfeit, it announced last week.


The bank has reprinted small denomination paper banknotes (250, 500 and 1,000 Iraqi dinars) as well as larger denominations (5,000, 10,000, and 25,000 dinars), the bank's treasury director Ihsan Shamran al-Yasseri told Mawtani.
 
"The new currency, of which the small value ones have been offered for circulation, is not much different in form from the notes currently being used by the public," he said. "But these are infused with safer and more effective technical specifications containing security symbols and many technical characteristics that will give the notes longer life and make it difficult or almost impossible to counterfeit."
 
Additional security features include a guarantee thread -- a one-millimetre-long coloured ribbon for the small category notes, and four millimetres for the greater value ones -- in addition to visible coloured strands, and others which can only be seen by scanners, he said.
 
The new currency also uses SPARK, an optical security feature recognised worldwide, he said.
 
These added features will help protect Iraqi currency against forgery attempts, al-Yasseri said.
 
"The counterfeiting that has taken place of some of the high value notes in circulation was very primitive and easily-discovered, without the need to subject the money to scanning devices," he said.
 
The new banknotes are embossed with raised dots to enable blind and vision-impaired persons to use them, he said, and are covered by a protective film to prevent deterioration resulting from their constant circulation.
 
"Worldwide, the assumed life of paper money is three to five years," he said. "The Iraqi notes in use now go back 10 years, and many of the banknotes, especially the small value ones, have become old and worn."

 

A gradual replacement
 
The overall value of the paper notes to be reprinted comes to about five trillion Iraqi dinars ($4.3 billion), al-Yasseri said, and these will be gradually entered into circulation to replace the current notes.
 
"Offering new notes will not cancel out the paper notes in use now," he said. "The new ones will be in circulation side-by-side with the old ones."
 
Reprinting Iraqi currency several years after its introduction is a "necessary requirement", said economist Bassem Jameel Antoine.
 
"Many of the present currency notes have become overused and it was necessary to renew them with the addition of features that would make the notes more able to effectively resist the constant circulation as well as attempts at forgery," he told Mawtani.
 
Numerous modern security features and technologies have been used to safeguard world currencies against counterfeiting and tampering, Antoine said.
 
The public must be made aware of the features and specifications of the new banknotes in order to understand the importance of reprinting them and to encourage their circulation, he said.
 
The renewal of the banknotes is a good step towards achieving currency reform, said MP Ibrahim al-Rikaby, who serves on the Iraqi parliament's economic committee.
 
"We support the replacement of old notes with new ones which have high print quality and features to protect the money against forgery or tampering," he told Mawtani.
 
This step "will give the Iraqi dinar considerable strength against the other world currencies, as well as make it easy to carry and circulate in banking transactions, selling and buying operations, and currency exchange", he said
 
-

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The Central Bank's Treasury Director Ihsan HostMonster Al-yasseri said the Central Bank has printed currency notes of small groups (250, 500 and 1000) and also large groups (5, 10 and 25) 1,000 dinars.

I hope it doesn't mean 5K, 10K and 25K notes, but looks like it does.

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Thanks for the read Deniscanada

 

Mrparrot I missed your picture  and Im sure it was funny but I have a twisted mind.

I know its not personal. Mods are just doing their  jobs. Different mod means different outcomes.

Again its not personal. Too easy to get upset over something that does not really matter.

Im guilty of that all the time but can you imagine what it would be like with no Mods?

CHAOS!!

 

Thanks Mods

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iraq-issued-a-new-currency

Nuff said.

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I've been waiting along time to hear,see and feel this.

This step "will give the Iraqi dinar considerable strength against the other world currencies, as well as make it easy to carry and circulate in banking transactions, selling and buying operations, and currency exchange", he said

Edited by Brisco
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whhooop  whoooop   bayyyyy beeeeeee   now  lets look at the way stuff gets  re-versed  translated ---- o.k.  I give  them  the   250 , 500,  1000   now  lets  look at the way  the next group  might have been  turned around - if they are saying  they printed  5, 10 , 25 ,   thousand <----------  that  might be  they printed  thousands  of  the   5 group  the 10 group  and the 25 group    which would  mean  these  are the lower notes we have heard about  over the last few years  they said they  could not be printed , but in fact ----------  they were printed and put on hold till now ,  and not  to for get  the gold  coinage and  ingots   bammmmmmmmmm       :rodeo:

give adams  new  feature  a ride   :lol:

 

 

Jeep-  my take:

 

Quote from Article- "The Central Bank's Treasury Director Ihsan HostMonster Al-yasseri said the Central Bank has printed currency notes of small groups (250, 500 and 1000) and also large groups (5, 10 and 25) 1,000 dinars ".

They "drop" three zeroes off the rate or better yet go 1 for 1, the printed currency notes of small groups become:

 

1) 250  becomes 25cents

 

2) 500 becomes 50 cents and

 

3) 1000 note becomes $1.00  -  a buck!

 

Voila - lower denoms 

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The cbi lists the currency it issues

On the website with pictures

So why they wrote like that

5 ,,, 10 ,,, 25 ,,, 1000 dinars

Is okieononic a holic

They stablized the rate there's no way they could be rated with a currency floating all over the place within 10%

They were told to hold it within 2% margins of the official rate

That's around 22 dinar

That would mean 1166 to 1188

How they doin?

1220 ?

Edited by dontlop

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