The central bank's:" the project to delete the zeros will be applied beginning of the year 2017

[yota691]

The central bank's "Tomorrow Press:" the project to delete the zeros will be applied beginning of the year 2017

 

 

 

 

 

Author: Editor: sz reporter: ay

Number of Views: 75

 

25/06/2015 16:05

 

Tomorrow Press / BAGHDAD: The governor of the Iraqi Central Bank, on Thursday, that the project to delete the zeros will be implemented in early 2017, indicating that the Bank embarked on the development of the first steps of the project. Keywords and said for "tomorrow Press", "The goal of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor of foreign currency ", he returned him as" that strategic project will serve the country's economy. " He added that "the Bank is working on the mechanisms used to implement this project is expected to start by the beginning of 2017," noting that "the central bank began the first steps for the project through the selection of designs, companies and the country that will be done printed currencies ". He pointed out that "the introduction of new currency does not mean the destruction of the old currencies, but it will continue to trade to about ten years," pointing out that "this period will enable the central bank to withdraw the old currency in accordance with the mechanisms will maintain market liquidity. " The Finance Committee in the House of Representatives earlier revealed, (August 15, 2013), the postponement of the process of removing zeros from the currency until after the next parliamentary elections, while confirming that the government is demanding guarantees for non-substituent currency return to markets and forgery. The Central Bank of Iraq confirmed, in the (April 25, 2013), that there is no intention at this time to restructure the currency and delete the three zeroes of them, denying the reports in this regard. It is noteworthy that the General Secretariat of the Council of Ministers announced (April 12, 2012), for the wait in the application of the process of deletion of zeros from the national currency and that require action to stop all associated with the operation mentioned until further notice. It is noteworthy that some economists believe that Iraq is not formatted for the time being for the deletion of zeros from the dinar, pointing out that the deletion needs to be a security and political stability as well economic stability.

 

[Officiallytook]

Hmm..

[2fast4u2c]

I don't think this is smoke

[Alex38]

Bwahahahahahahahah!!! Wait until 2017 comes... Press Release: The Project To Delete The Zeros Will Start At The Beginning Of 3017. 

 

Hahahahahahaha

[unirod]

The 3 zero project has already started some time ago by the removal of notes (now under 4 Billion)from circulation. Two months ago the 50 Dinar note was retired. The CBI is never going to tell us their real time line for an exchange rate change. This press release is just more propaganda....IMO 

[new york kevin]

" that strategic project will serve the country's economy. " He added that "the Bank is working on the mechanisms used to implement this project is expected to start by the beginning of 2017,"
 

 He pointed out that "the introduction of new currency does not mean the destruction of the old currencies, but it will continue to trade to about ten years," pointing out that "this period will enable the central bank to withdraw the old currency in accordance with the mechanisms will maintain market liquidity.

On the one hand waiting till 2017 for an RV goes into the suck section. On the other hand having a 10 year window to cash in slash allowance to reach something higher than 10 cents goes into the not so bad section. Just saying.

[drj]

The 3 zero project has already started some time ago by the removal of notes (now under 4 Billion)from circulation. Two months ago the 50 Dinar note was retired. The CBI is never going to tell us their real time line for an exchange rate change. This press release is just more propaganda....IMO 

 

I agree, the CBI is not going to give any hints on what they are doing or not doing.   

[pocono]

For those who think this is propaganda or smoke I would ask why...Why would the CBI say anything at all?

If anyone thinks these stories are for our benefit I would question why then don't they publish the "smoke" in English and in English news media.

I'll go with Adam on this and suggest they could care less about us.

[eburt]

Man they loves to talk alot....With all the talk Iraq does this is why they can't get much action done lately!!!  I am so sick of hearing about what they gonna do when it comes to Delete the Zeros.  Every yaer they say the samething.  I begiining to wonder why do we follow this articles coming from Iraq....Lately the articles is just causing more confusion and/or smoke and mirrors....I just wish their media would be silence....Oh well we should see...

 

Thanks Yota for positng....

[zul]

So they'll be issuing 50k and 100k notes in 2016; only to delete them one year later, at the beginning of 2017.

Sounds like a plan to me.

Hmmmm...

[pocono]

They did say the old currency wouldn't be destroyed for 10 years.

[SgtFuryUSCZ]

The 3 zero project has already started some time ago by the removal of notes (now under 4 Billion)from circulation. Two months ago the 50 Dinar note was retired. The CBI is never going to tell us their real time line for an exchange rate change. This press release is just more propaganda....IMO 

***///

 

...Yup.   

[pocono]

Is there any proof anywhere that the 3 zero project has already started?

[SgtFuryUSCZ]

They did say the old currency wouldn't be destroyed for 10 years.

***///

 

Dinarians would hope as much.

 

 

But... it's still IRAQ after all...

 

 He eluded to "the next Parliamentary elections"....

 

 

And IRAQ being IRAQ.... and the involvement / presence / plans of IRAN...  and the continued inter-tribal discord....

 

 and TheKurds wanting to secede...  and the evil daash being what they are... etc, etc, etc.....

[TrinityeXchange]

10 years to hold on to my notes is fine by me.

[Freedomwish]

Is there any proof anywhere that the 3 zero project has already started?

 

I kind thought it had already started with the 50 Dinar note removed from circulation......just saying.

[pocono]

People were compensated for those 50 notes...Some Dinarians and some Iraqis I suspect weren't quick enough to redeem them but imo it had nothing to do with removing the 3 zero notes..

The 50 note was worth less than a nickel,had no security features and were cost ineffective to reprint.

[zzztop]

They have been saying this since 2010.  They will delay again in six months.  They have said stability is a major factor in the delays.  ISIS isn't going anywhere for a while...

[RV4CandyMan]

I need a break.... I'll be back in 2016.  

[jg1]

At the very least, what I am thinking is soon it will be a tradable currency then we will not have to sell back Dinar to the Dana groups we can exchange them to the bank with very little charge.

[pocono]

jg1

 

That would certainly be good news but curious as to why you think the currency will be tradable soon.

[gymrat76541]

Why should they tell everyone when it will happen?

 

By saying early 2017 it offers a great opportunity to sneak it in early catching some by surprise!

 

This sounds like good news any way your slice it!

[uncirculd]

Sick of hearing this.  Delete zeros coming days, next week, next month, year 2013, years 2014, next year.  Don't care about your deleting zeros. 

[chess]

Right....CBI has no reason at all to 'fool' us with "smoke and mirrors."

 

They also have no reason to ever tell us the truth!!!

 

(as we waaaaait, Adam may present us with nice extended VIP/OSI pkg. pricing??)

[jg1]

they should be getting thier credit rating soon I would think that would cause a tradable currency.since the rating should be at least a BBB. let's hope