yota691 Posted March 1, 2015 Report Share Posted March 1, 2015 Central Bank announces the withdrawal of the coin "50" DT and replaced as of today BAGHDAD - Iraq Press - March 1 / March: The Central Bank of Iraq announced the start replacing the coin 50 dinars as of this March after his decision to drag. He added that the bank "Due to stop the public from trading cash paper category 50 dinars, he decided to withdraw this banknote from trading on the basis of the powers vested in Article 36 of the Bank Act No. 56 of 2004", "The banks and their branches will start replacing these banknotes presented to it without fee or commission, and will be deposited with the bank and its branches for the purpose of restricting the corresponding value in the accounts we have. " "The term, which will replace the banknotes will begin on the first of March to 30 of April next," he said, adding that "the end of the replacement period banknote will be null and void and has no discharge power will not be accepted in Iraq." Admiral ended CBI pulls smaller paper currency Banknotes Iraqi Leila Ahmed 01/03/2015 Iraqi Central Bank decided to smaller paper currency which is the withdrawal of 50 dinars value of trading after it no longer needed due to the low value and stop circulation, as well as the lack of acceptance in the banks. Said an official statement issued by the Central Bank that citizens can switch possession of Banknotes fifty dinars category in government banks. In an interview with Radio Free Iraq, economic advisor to the prime minister the appearance of Mohammed Saleh pointed out that fifty-class dinars were printed after 2003, but an increase in the rate of inflation in 2006 after raising fuel prices has led to the erosion of the currency and the difficulty of trading them to become the 250 dinars smaller category paper currency at the moment. He said economic expert Hilal Taan that inflation witnessed in Iraq led to the extinction of most of the small coins of the fifty-class dinars and 100 dinars, and become the 250 smallest currency and thus the government is forced to destroy the small coins. He expressed his opposition Taan printed currencies of large groups because this will lead to price hikes and a decrease in the value of the Iraqi dinar "because inflation based in Iraq comes because there is a large cash currency." As an economic advisor to the prime minister called for the appearance of Mohammed Saleh to the need to print large coins for circulation in the market, considering it of health phenomena and noting that Iraq is in the monarchy printed currency 100 dinars worth the time, "as there are coin 500 euros, equivalent to more than 600 US. " Saleh also said he "was supposed to delete the zeros from the currency, a project has been prepared in advance and prepared the floor, however, many reasons led to the postponement of an unknown time," pointing to "the need to reduce turnover in Iraq since the deal today talking about trillions while strive to be trading billions. " Central Bank statement said that the time that the replacement of these banknotes will be which is among the first of March to 30 of April next, stressing that once the replacement period banknote will be null and void and will not be accepted in Iraq. It is noteworthy that 50 dinars category is the smallest process paper of paper within the categories that also include 250 dinars and 500 dinars and a thousand dinars and 5 thousand dinars and 10 thousand dinars and 25 thousand dinars, which were issued after 2003 in the wake of the overthrow of the former regime. 6 Link to comment Share on other sites More sharing options...
SocalDinar Posted March 1, 2015 Report Share Posted March 1, 2015 Imagine if the UST did this with Pennies Link to comment Share on other sites More sharing options...
moneysoon Posted March 1, 2015 Report Share Posted March 1, 2015 A gauge of the latter intent of this measure will be to see how much this is publicized on the news media and on those Big Screen TV's they were said to have mounted around the Country. Link to comment Share on other sites More sharing options...
Saintsfan Posted March 1, 2015 Report Share Posted March 1, 2015 Thank you Link to comment Share on other sites More sharing options...
bowling4dinars Posted March 1, 2015 Report Share Posted March 1, 2015 thanks! Link to comment Share on other sites More sharing options...
Officiallytook Posted March 1, 2015 Report Share Posted March 1, 2015 1000.00÷250=4 Simple math...unless you like 1iqd to 4usd Link to comment Share on other sites More sharing options...
Laid Back Posted March 1, 2015 Report Share Posted March 1, 2015 I would like to send my 200 / 50 JD notes to a family in Iraq. Go iraq Go dinar Go strong June 01 or January 01/16 possibles days for an increase of exchange rate... JMHO 1 Link to comment Share on other sites More sharing options...
NextYear Posted March 1, 2015 Report Share Posted March 1, 2015 Imagine if the UST did this with Pennies I wish they would. The merchants would have to stop with the $1.99 or $9.99 and just label it what it is $2 and $10. That .99 is just to make it appear cheaper to the consumer or so the merchants think. Link to comment Share on other sites More sharing options...
rah Posted March 1, 2015 Report Share Posted March 1, 2015 Does this mean that they intent to make these notes null and void? Will we be able to exchange them for new notes at the same value? It does not appear that there will be an increase in value until all these notes are recovered. Central Bank statement said that the time that the replacement of these banknotes will be which is among the first of March to 30 of April next, stressing that once the replacement period banknote will be null and void and will not be accepted in Iraq. It is noteworthy that 50 dinars category is the smallest process paper of paper within the categories that also include 250 dinars and 500 dinars and a thousand dinars and 5 thousand dinars and 10 thousand dinars and 25 thousand dinars, which were issued after 2003 in the wake of the overthrow of the former regime. Link to comment Share on other sites More sharing options...
NextYear Posted March 1, 2015 Report Share Posted March 1, 2015 Does this mean that they intent to make these notes null and void? Will we be able to exchange them for new notes at the same value? It does not appear that there will be an increase in value until all these notes are recovered. It's in country only. You'd have to go there and exchange them for whatever they give you in that exchange. From my understanding after the exchange period the 50 bill is no long legal tender. In other words, toilet paper other than the ability to sell them to a collector in years to come. Link to comment Share on other sites More sharing options...
rah Posted March 1, 2015 Report Share Posted March 1, 2015 But now they are planning on the same action for the other dems.... 5k, 10k, and 25k. Same result? Link to comment Share on other sites More sharing options...
yota691 Posted March 1, 2015 Author Report Share Posted March 1, 2015 Central Bank "damage" Money supply in the market Central Bank 19:16 01/03/2015 Central Bank of Iraq announced the start replacing the coin 50 dinars as of this March after his decision to drag. He added that the bank "Due to stop the public from trading cash paper category 50 dinars, he decided to withdraw this banknote from trading on the basis of the powers vested in Article 36 of the Bank Act No. 56 of 2004", "The banks and their branches will start replacing these banknotes presented to it without fee or commission, and will be deposited with the bank and its branches for the purpose of restricting the corresponding value in the accounts we have. " "The term, which will replace the banknotes will begin on the first of March to 30 of April next," he said, adding that "the end of the replacement period banknote will be null and void and has no discharge power will not be accepted in Iraq." Link to comment Share on other sites More sharing options...
NextYear Posted March 1, 2015 Report Share Posted March 1, 2015 (edited) But now they are planning on the same action for the other dems.... 5k, 10k, and 25k. Same result? Not that I'm aware of at this time. It's only being done to the 50 bill because apparently it's the most counterfeited and underused. Just like over here in the States the most counterfeited bills are $20, $50 and $100. Some suggest this is being done to the $50 because there are so many of them and when an RV does occur and people run to the banks to exchange their dinar it takes off a heavy load on those delarue machines that check for authenticity of those bills. Something like that. Edited March 1, 2015 by NextYear Link to comment Share on other sites More sharing options...
TrinityeXchange Posted March 1, 2015 Report Share Posted March 1, 2015 But now they are planning on the same action for the other dems.... 5k, 10k, and 25k. Same result? no Link to comment Share on other sites More sharing options...
Big_J Posted March 2, 2015 Report Share Posted March 2, 2015 1 Link to comment Share on other sites More sharing options...
az66 Posted March 2, 2015 Report Share Posted March 2, 2015 Interesting I have some of these guess we may be stuck with them Link to comment Share on other sites More sharing options...
sandfly Posted March 2, 2015 Report Share Posted March 2, 2015 THANKS Link to comment Share on other sites More sharing options...
TBomb Posted March 4, 2015 Report Share Posted March 4, 2015 Do we have an article that expressly states that the new 50 notes (will) have security features? Link to comment Share on other sites More sharing options...
dantach Posted March 4, 2015 Report Share Posted March 4, 2015 Imagine if the UST did this with Pennies I don't think they will do it. It is a tax coin in the states. How would we pay sales tax? It's against the law for states to coin money. Link to comment Share on other sites More sharing options...
Jaygo Posted March 4, 2015 Report Share Posted March 4, 2015 TBomb can you just give up on trying to figure this thing out???? It's Iraq.. You will NEVER get it figured out no matter how many articles you read! Can you just wait for it to happen? It is still going to happen at an unknown rate and an unknown time.. 1 1 Link to comment Share on other sites More sharing options...
navira45 Posted March 4, 2015 Report Share Posted March 4, 2015 Hahaha jaygo...so agree with u 1 1 Link to comment Share on other sites More sharing options...
gymrat76541 Posted March 4, 2015 Report Share Posted March 4, 2015 What I do not like is: "was supposed to delete the zeros from the currency" Delete the zero's from the currency does not sound like what I want to hear! My 25,000 bills will be worth 25 dinars each! Delete the zero's from the exchange rate sounds better! Link to comment Share on other sites More sharing options...
TBomb Posted March 4, 2015 Report Share Posted March 4, 2015 TBomb can you just give up on trying to figure this thing out???? It's Iraq.. You will NEVER get it figured out no matter how many articles you read! Can you just wait for it to happen? It is still going to happen at an unknown rate and an unknown time.. I WILL WHEN YOU STOP ANALYZING EVERYONE'S POST TRYING TO FIGURE THIS THING OUT...LOL 4 1 Link to comment Share on other sites More sharing options...
IQD1217 Posted March 9, 2015 Report Share Posted March 9, 2015 Please check into this , they said the central bank didn't put out an official notice that they are taking in the 50 notes!! Someone called the bank and said they are not aware of this press release !! Thanks Link to comment Share on other sites More sharing options...
DiiDii Posted March 9, 2015 Report Share Posted March 9, 2015 Well they moved promptly in this matter.. Good to know. Link to comment Share on other sites More sharing options...
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