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Deletion of zeros in 2014..jahz and implemented a deferred


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Well if it was an article about moving the decimal place over off the exchange rate of the iraqi dinar to the U.S. dollar we could talk about that

But it isn't

It's an article about deleting zeros

The first sentence of the article says what ?

Here

project to delete the three zeroes from the currency unchanged

Read more: http://dinarvets.com/forums/index.php?/topic/196419-deletion-of-zeros-in-2014jahz-and-implemented-a-deferred/#ixzz3R00C7hTA

So where are the zeros deleted ?

According to the article

It's horrifying topic

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Is not the time to delete the zeros of the Iraqi currency

umla-263x300.jpg

Baghdad-Iraq Press -6 February: Parliamentary Finance Committee denied, on Friday, the Central Bank to determine a time limit for the deletion of zeros from the Iraqi currency, and as confirmed that it supports the project, said that the bank believes that the time is not right to take this step.

 

The committee member said Jabbar al-Abadi in a press statement, said that "the project to delete the zeros were traded within the Finance Committee," adding that "the central bank rejects this on the grounds that the time is not right now."

 

He added, "The Finance Committee with the deletion of zeros is subject to many positives reflected on the economic reality," noting that "the numbers in the dinar currency loses its value, and the deletion of zeros because the value of the dinar and the fall of the value of the dollar."

 

He economist Jamil Antoine, earlier, the deletion of zeros is a restructuring of the coin, and to alleviate the large digital accounts burden treasurers, and alleviate the burden of accountants in counting the transfer of numbers, "but he pointed out that" this is not the time to replace the currency, and that the lack of security and economic stability in Albulad.anthy (1)

 

http://www.iraqpressagency.com/

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The more i think about it, the more i agree with DL.  How in the world could they adjust the decimal 3 places on the nominal value for the US dollar and no other country?  If they go international and revalue their currency, it will have to be in correllation to every other currency in the world as well.........ie: (like dontlop said)  if they move the decimal 3 places, will the yen be worth $8.40 to the dinar?  it just doesn't make sense, and seems to be a catastrophic headache throughout the currencies of the world.  Every currencies value has to move in relation to all the other currencies, otherwise it's not international.

I have no idea what they will do, and really........i wish they would do this, but it seems kinda far fetched. 

Edited by staunch
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I'm just saying there's no other place to delete three zeros across the board like the exchange rate to the dollar

The dollar is .00086 <<< ok three zeros

The yen is >>>> 1 IQD = 0.0991746 JPY ...<<< where's the zeros ?

But the dinar is pegged to the dollar

So they would have to be saying they are deleting three zeros off the exchange rate to the dollar , but the article says delete zeros off the "iraqi"currency

If they just put out lower denominations and raised the exchange rate to a dollar there's no need to delete any zeros

So I don't get happy when they say they are going to delete zeros off the iraqi currency

Edited by dontlop
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It doesn't say move the decimal point

Ya just can't move decimal points in any accounting or auditing anywhere for financial gain

It woukdnt be $99 dollars it would be 99 yen

I wish they said they were moving the decimal point three digets but it doesn't say that

So boo!! To removing three zeros as far as I'm concerned

Edited by dontlop
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Removing the three zeroes means either redenominating by introducing lower denominations worth the same as the high value ones that have had three series dropped from them meaning their value adjust by 1/1000 of their current face value...

OR

It means the CBI is reducing the note count not the overall value of all their currency but the actual amount of notes. By reducing notes, the remaining notes gain value as they still represent the same overall wealth or value as before just with less notes so each note has gained value.

Those are the two things it could be.

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There has been no such thing as smoke in the 7 years I've been following this.

 

Deleting the zeros, like others have said, involves the removal of the large bills from the streets of Iraq and abroad then taking those notes out of circulation and retiring them. Somewhere within that process lower denominated notes would be released and the rate of exchange would be increased. Can't do any of that tomorrow though because they need an economy to support the rate increase so the currency doesn't tank as a result. Thus, we wait...

Edited by _RFJ
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09/02/2015 (19:52)   -   the number of readings: 57   -   Issue (3284)
 
 
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Range / Amer Mohi 
 

In the new Congress calls for the deletion of zeros from the Iraqi currency time, said in a Finance Committee member, said "time is not right for this project," while the experts pointed out that the change requires a stable currency price of the dollar which is verified at the present time.

 
He said the parliamentary finance committee member Ahmed Hama Rashid, on Monday, the "long", that "the proposal to delete the zeros existing four years ago and there are several proposals to implement it," noting that "the time is appropriate at the present time for the application procedure because exhausted Iraqi economy is in a lot of the joints, especially after a significant drop in oil prices in recent times. "
He Hama Rashid saying that "the process of deleting the zeros need to be a great economic power," pointing out that "the process of replacing the currency after deletion of zeros requires big money, and Iraq is unable at this time to do these procedures."
"In the case of the Iraqi economy possessed sufficient strength, we can talk about the deletion of zeros from the Iraqi currency, and the decision in consultation with the Central Bank."
He called to "benefit from the Turkish experience in changing its currency, and the positive impacts that have been achieved through that procedure," stressing that "the Finance Committee to discuss all proposals submitted to it, and the deletion of zeros and one of these things, has not been an official decision of the Committee on the subject."
For his part, the economic expert on behalf of Anton told the "long", that "Iraq is unable to delete the zeros and the currency exchange," noting that "the problem is not the deterioration of the economic situation only, because this process needs to be accompanied by several measures, the most important to stabilize the situation security is not available at the moment. "
He added, "before making a decision to delete the zeros need two important issues: first, the banking stability of Iraq, in addition to the stability of the dollar exchange rate in all states in the world, but the dollar is much more important than the issue of banking stability."
"The stability of the dollar process is the most prominent issue that must be fulfilled if the deletion of zeros from the currency in the near future, and that will be reset a lot of interest on the Iraqi economy and Sicoah in front of the rest of the other currencies we need for this thing."
The parliamentary Finance Committee member Abdul Qader Mohammed, said in (February 7, 2015) project to delete the three zeroes from the currency, one of the important projects and necessary that need to be implemented, because of the inflation figures, which traders and owners of the money to resort to capital pushed the dollar in the deal instead of the dinar. He called Muhammad, the central bank in a press interview to "take the initial steps to implement this major strategic project during the current year and applied in accordance with the stages and specific period of time, to support the national currency and the Iraqi economy.
And was a member of the parliamentary Committee of Economy Nora Albjara renewed its demand for the central bank in the (February 7, 2015) specify the timeframe for the implementation of the project to delete the zeros from the currency, the fact that the project is one of the important projects the long-awaited years ago because of the security situation.
The Cabinet decided earlier (April 10, 2013) to wait in the application process to delete the zeros from the national currency to another notice after deciding to apply earlier.
He stressed the prime minister for economic affairs adviser to the appearance of Mohammed Saleh (December 12, 2014), that the removal of zeros from the Iraqi currency at the present time requires a stable security and economic, referring to the current crisis in Iraq is appropriate for this step. Saleh said in a press statement that "the removal of zeros project aimed at reducing its computational system monetary values ​​without any intervention of wealth and would remove the zeros from the accounts of the Republic of Iraq completely," pointing out that "the foot on this project requires a high level of economic, security and political stability." .
The Iraqi Central Bank announced in November 2014 to the end of "countries whose economy depends on oil, such as Iraq, the net foreign assets of any foreign currency derived from the sale of oil is a mainstay with the cash basis because it depends on oil to finance their spending significantly.
He said the bank made a statement to him that "the Iraqi government, specifically the Ministry of Finance are replacing foreign currency (dollar) that you earn from the sale of oil with the Central Bank of Iraq for the local currency (the dinar), to be able to cover internal expenses, so the foreign reserve resources growth (Dollar ) when the government consists of increasing oil prices and quantities sold. "
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Classic Iraq....

 

1166 Dinar = $1 USD = 1 McChicken

 

If they remove the zero's off their currently:

 

1 Dinar = $.86 USD = 1 McChicken minus one bite taken out

Edited by JayLay
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"the process of replacing the currency after deletion of zeros requires big money, and Iraq is unable at this time to do these procedures."

 
This i do not like at all.  printing new money costs a lot of money and i really hope that's not what they are talking about.
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