The deletion of zeros from the Iraqi currency restores its monetary value

[newbieDA]

The deletion of zeros from the Iraqi currency restores its monetary value - Fahd Antar Dokhi *

 

Posted on 29 مايو 2015 by space Uruk

 

 

Fahd Antar Dokhi

 

Was Alojdrb (Bremer) head of the Iraqi destruction authority when it canceled the Iraqi currency of the former regime the end of 2003 to find a coin which reduces the presence of zeros, the fact that the Iraqi economy, the traditional inflation stages exceeded even arrived to the brink of collapse, and this procedure is one of the means at hand to address the weakness of the value of the Iraqi dinar, according to the monetary and banking law, has to be a return to basic sources which constitutes a strong factor in restoring confidence to our national currency, it is deleted three zeros from Almtadolh currency now put metal and paper dinar parts, including (5, 10, 25, 50, 100, 250 and 500 fils) .. which will bring the following benefits:

 

1. Ease of circulation and clarity and knowledge of monetary value easily even to foreigners and Hmaaaml Assistant to buy and handle them and trust the other hand, the lifting of monetary value against other currencies ..

 

2. Altfelicat paper perishable and damage, in contrast, the coin is not affected trade and the use and therefore can be manufactured again.

 

3. reduces the cost of printing Tabaha.az that JD (25) which will replace the 25 thousand dinars Alnaamhalmtdoualh currency is currently easier and quality will be high ..

 

4. strengthen the fabric and improved through the addition of the elements of the global currency that is not affected by natural factors such as water, and bear scrubs and tear resistance and decay.

 

5. reduce the cost of storage in banks, because we need to Qasat less and less effort and also the lower the number of employees by the more control and insurance prohibitively high.

 

6. easily transported over long distances and easily provide a high proportion of them safely.

 

7.. Strong cash currency contribute to strengthening the elements of the national economy.

 

8. provides speed and accuracy in trading in settling accounts. 9. gives the workers, giving them greater self-confidence.

 

10. is the risk of error in the calculation of its simplicity and clarity.

 

11. This will rebuild global confidence by banks and increases traded.

 

12. also provides cash to expand its value against the US dollar, the euro and the EU.

 

13. The printed specifications make them immune to fraud. There are a lot of countries that embarked on this procedure, including the Turkey even scrapped term million to replace the thousand, and can develop a mechanism to withdraw the old currency by subtracting the new currency with them and set a time ceiling to suspend trading Balkadimh record for a period of Omayorasth months, in light of that holds the government banks did not place them again in the Dealing even decay within the period specified ..

 

* Fahd Antar Dokhi member Iraqi Economists Association

 

 

https://urukpace.wordpress.com/2015/05/29/%D8%AD%D8%B0%D9%81-%D8%A7%D9%84%D8%A5%D8%B5%D9%81%D8%A7%D8%B1-%D9%85%D9%86-%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9-%D9%8A%D8%B9%D9%8A%D8%AF-%D9%84%D9%87/

[Flamtap]

Another positive post....loving it.

[Integrativedoc]

Well isn't he just brilliant. We don't want this move! He's talking months to exchange a 25000 dinar note for a 25. We all know what that's referred to as.

[Palmtree1970]

Exactly....I can hear a song.....should I stay or should I go.....

[sandfly]

THANKS NEW

[k98nights]

[drj]

12. also provides cash to expand its value against the US dollar, the euro and the EU.


That's what we want so let's get it done instead of constantly talking about it!

[newbieDA]

its an opinion piece, I wouldnt take this to heart

[zzztop]

It doesn't matter.  They will never take action whether they intend  L O P or RV.  They will talk about it for decades however.

Edited May 30, 2015 by zzztop

[SgtFuryUSCZ]

its an opinion piece, I wouldnt take this to heart

***///

 

Okey Dokhi ! 

Will await further instructions from CBI instead ! 

[Yukon Silvermoon]

It's always an opinion piece or "smoke" when it's bad news. If anything good happens, you guys take it as fact.

[Flamtap]

I hear you loud and clear newbieDA and I'm aware it's an opinion piece( I hope others do as well). Yet it is still positive and I appreciate anything coming out whether it is an opinion piece or HCL. It does seem to come from someone in the know. Making it even better

@Yukon Silvermoon. Not everyone thinks the same way.....and I the only fact I'm looking forward to seeing is the HCL. After that who knows. It's a roller coaster and I don't mind the ups and downs.....as long as it ends with a good feeling!

[NextYear]

All this is well and good however none of those smaller denoms would make any sense without an RV first.  The reason there's high demon bills right now is because the exchange rate with the outside world currency is shitty and you need lots of dinar to buy exported goods.  I notice that in the opinion piece there's no mention of any time lime or any strategy at all in relation to the dinar's rv ,re-denomination or whatever.

[Nelg]

Movement is good.  I like what was said in #12.  Value, value, value is the need of the moment.  They know that and we know that; getting it done is paramount.  

[TQueezy]

I'm more skeptical of good news than bad news, honestly.

[10 YEARS LATER]

Talking something to death will never make it so . . . . sadly the Iraqis do not understand this.

[Laid Back]

Looks like deleting the 000's is taking them out of circulation.

Increase the exchange rate, collect 000's note from circulation and at the same time introduce lower denomination and coins with new value and more purchasing power.

Go CBI

Go dinar

Go strong

[Zebra0101]

Someone give Fahd a MEGAPHONE and let him tell this to the GOI!

[ONOCHE]

Another Propaganda,

i Believe they would eventually RV sooner or later..

[justchecking123]

Has their ever been any definitive op/ed smoke/propaganda/pseudonews pieces on lower denominations/new currency? This whole thing will take awhile...the current government/security situation's too volatile. Can one imagine the corruption scenarios if this was to happen now? Their military's ragtag, and the Peshmerga can't do it alone. Be patient...just saying.

Edited May 31, 2015 by justchecking123