Parliamentary Finance: Delete the zeros catalyst to strengthen the national currency

[yota691]

Parliamentary Finance: Delete the zeros catalyst to strengthen the national currency
Economic
 Since 04/11/2015 16:51 pm (Baghdad time)

Special scales News
A member of the parliamentary finance committee, on Saturday, about an intention to issue a new monetary categories "Khamisn thousand one hundred thousand", stressing that the aim is to strengthen the currency after deletion of zeros.
Said Mohammed's / scales News / "The financial mechanism parliamentary discussed the issuance of new categories to the category of cash and fifty thousand percent as a prelude to the deletion of zeros from the currency."
"The goal of the process of issuing monetary categories and deletion of zeros to strengthen the national currency," he said, adding: "The Ankhvaz the monetary value of the dinar against the dollar is to be used in insider more than the Iraqi dinar."
Parliamentary Finance Committee announced on Saturday, the formation of a committee to study the coins version of the categories of the fifty and one hundred thousand Iraqi dinars, stressing that these categories booting to remove zeros from the Iraqi currency in the future. Finished / 29 / d 24

[jeepguy]

mmmm  wish I knew what kasmisn   was  in currency talk    ....  it almost sounds like  another note with 100,ooo  note  { something  like  15,ooo  or  a 35,ooo    with  a  100,000  note }    and  also  what  do the economist  on the committee  call a   50 thousand  %   ?   is  this  up  or  down  in  the  values  of  dino  the  dinar  ......    if  it is  a  swing  too the positive side  we  who hold  the dino dinar  ,  50 .ooo %   would  give  the value   now  too 1,000   too 1  u.s. dollar  ?     this  little topic  holds  a lot  of juice  if it  swings our  way .........  just my thinking    

[sandfly]

THANKS

[Integrativedoc]

Unfortunately I'm afraid this path will see the removal of the 250 and 500 just as they are doing with the 50. Issuing a 50k and 100k for a while then remove zeroes. I guess we will know as soon as the end of April comes if we see something about demonetizing the 250 or 500

[nadia]

I hope that's not the case since I spent a pretty penny buying 500 dinar notes to diversify.  Tick tock, tick tock.

[SocalDinar]

The U.S. needs a larger note than the $100

They need to bring back the $500s

The penny is useless

[Badrabbit]

This article makes no sense,

 

50,000% of .00086 = 43

 

must be a translation issue

 

or I am miss reading everything this article is saying.

[Wiljor]

Ok, its very difficult to determine if they mean, deleting the zero's from here 1 IQD = 0.000860770 USD or from here 5,000, 25,000 iqd etc... This talk of zero's has been going on for some time now and disappears and reappears like a phantom menace.

"stressing that the aim is to strengthen the currency after deletion of zeros" To me this statement means they will delete the zero's from here 1 IQD = 0.000860770 USD, key word in Yota's post above "strengthen" In the mean time, we wait and wait and.....

Morning Yota, and a great day to all DV'ers

[Boozer]

I thought the Governor of CBI said now is not the time ..... Bring back coins, or gold coins to get more dinar off the streets.. I think remove the 00s is off the rate not the Note just my  

[skeetdog]

Thanks Yota...Looks to me this article's just announcing the committee to study the process was formed and that the condition they are lookin' at only involves currency inside Iraq...

[tlars brother]

this articled is a mess....delete the zeros means taking them out of circulation, not the decimal point. Also, they are not just forming a committee.. that's silly.

[djgabrielie1]

Thanks Yota...Looks to me this article's just announcing the committee to study the process was formed and that the condition they are lookin' at only involves currency inside Iraq...

I would have to concur with you skeetdog.

[mrparrot]

The U.S. needs a larger note than the $100

They need to bring back the $500s

The penny is useless

Penny is not useless.

 

Sheldon may think she is,

but I don't.

 

Every group needs a Penny...

 

[skeetdog]

Damn, I thought I was an Aries but after readin' this...I might be a Sagittarius....

[Cynthia AH]

 Study,,,discussion,,,readings,,,,more study,,,more discussion,,,,more readings, now I understand how easy it was for Saddam to take over,,,,they were studying, discussing, reading,,,get to the point and do something....

[Laid Back]

deleting the 000's doesn't strengthen the currency, increasing the exchange rate does.!

Increase the exchange rate first, collect all 000's notes and at the same time introduce the coins and lower denominations notes.

Go Iraq

Go dinar

Go $1+

[rken]

What they are saying is that they will eliminate the current 50 dinar note. The new currency will range from 1 to 100 perhaps 500 dinar notes. You can trade a 25,000 dinar note (value about 25 usd) for the new 25 dinar note (value about 25usd) rinse and repeat for a the other denominations. Basically a lop. Hate to say it, I didn't think this is the way they were going, but its out in print pretty much black and white. hmmm

[elgin]

deleting the 000's doesn't strengthen the currency, increasing the exchange rate does.!

Increase the exchange rate first, collect all 000's notes and at the same time introduce the coins and lower denominations notes.

Go Iraq

Go dinar

Go $1+

Thanks YOTA,

 

Laid Back, I think you're on to something here.. I don't think we should worry about the exchange rate inside IRAQ that fleeces the IRAQI people. I think what we should look for is when they go international with the DINAR then then they will have to put a real value to it. Right now its just locally traded play money..

 

 

(In it for the LONG Haul)