Economist: deletion of zeros from the currency will reduce the dollar traded in the local market

[yota691]

Economist: deletion of zeros from the currency will reduce the dollar traded in the local market

Economy and tenders

 Since 16.08.2015 at 11:24 (GMT Baghdad)

Special - scales News

He stressed the economic expert on behalf of Jamil Antoine, Sunday, that the deletion of zeros from the Iraqi dinar will reduce the US dollar traded in the local market, noting that Matrouh this project four years ago, and deferred to notice another.

He said Antoine L / scales News /, that "the project to delete the zeros Matrouh four years ago and was intended to achieve the basic objectives, the requirement that there be a security and political stability, and economic order to the process is done, and the creation of the banking system fully to print the amounts."

He added that "in the era of Shabibi when he was governor of the Central Bank of this project has been delayed and lost stability and requirements factors and the ground for the implementation of this process, which is now deferred to notice another, while providing the appropriate conditions."

He pointed out that "This project will reduce the use of the dollar in the domestic market, and disposing of damaged currency, as well as to reduce the large numbers that are trading mathematically, and reduce the pressure on the Trustees of the Fund, and there are a lot of benefits from the deletion of zeros."

He explained that "the largest category of cash is Al25,000 dinars, which is equal to $ 22, in the case of deletion of zeros and converted to 25 dinars Vstsawi of $ 75, this process will give the larger size of the local currency and reduce the use of the dollar in the domestic market."

Antoine said that "the Iraqi people tend to use cash flow does not deal with modern facilities visas and Kart and instruments, and began this means Athjm role" ./ ended 29 n / 10

[Texstorm]

"GO REVALUATION ! "...........................

[Jaygo]

Enough talk. Just do it!

[sandfly]

CLOWN DID I READ THAT RIGHT

[Palmtree1970]

Trying to read these opinion pieces are hard work but somewhere in there I did like the 25 dinars converted equals 75 dollars...now that I like a lot

[KDuesing]

Here they come the last few delete the zeros articles we will ever see before this happens  imop.

[Jaygo]

Trying to read these opinion pieces are hard work but somewhere in there I did like the 25 dinars converted equals 75 dollars...now that I like a lot

[easy]

75 dollars for 25 dinar is not 3 to 1

[captl1]

25×3=75...not so modern math.

[zzztop]

You can expect a bunch of articles stating "the CBI is printing 50,000 and 100,000 notes(adding one or two MORE zeros)  I don't know if this is misdirection or they just don't know WTF they are doing.  Thanks for the post.

[Palmtree1970]

Really don't care what it works out to just do something already so I can trott to my bank and get rid of my colorful notes..

[climber7]

so if we get 75 dollars for every 25,000 note and you have one million dinars in 25,000 notes.......how much do you get for the exchange?

I've already done what I think is the correct math--I just want to verify i did it the correct way.....thanks

[elgin]

At this point I just want them to get up out of their seat & do something, anything to earning their paycheck instead of throwing random sentences out to see what sticks to the wall !! At first I thought they had a plan but now I see they talk the talk but have no shoes to walk the walk..... 

 

 

Lop / Drop & Roll / or get off the pot.... 

[Officiallytook]

Hurry...

[climber7]

I think my math formula is wrong

if you have 1,000,000.00 dinars in 25,000 notes then according to the 75=25,000 you will only get just over 13,000 for this exchange?

[Officiallytook]

Question...

How long have they been unpegged from OPEC and pegged to USD?

13k per 1mill USD is just the starting point...this will raise quickly to 1-3USD

And I think it's 3k USD to 1 mill iqd

Edited August 16, 2015 by Officiallytook

[jeepguy]

hahahaha  zzz top  { w t f  they are  doing  ....  been that way  a long time as it seems ,   or it is just too keep the  speculators out of the loop ? I don`t know  w - t- f     basically  is  this  translation into "  wait  till Friday "    }    funny how  they are just now getting the idea  that we have stirred over and over  here in the forums  ,  raise  the value  and dollar  isn`t  used  !   easy cheesy  ....................    every one   for 1  million dinar  you get  13ooo  hell   yeah  I am in  ,,,  get it rolling  

I tink  the oil  values  have always been in dollars  ! 

[Jaxinjersey]

I think my math formula is wrong

if you have 1,000,000.00 dinars in 25,000 notes then according to the 75=25,000 you will only get just over 13,000 for this exchange?

We would only be tripling our "investment", roughly (and depending what you paid for 1M dinar).  At $22/25K dinar now... $75/25K would make 1M dinar worth about $3,400.00... not $13k.

[Officiallytook]

Thanks jaxs, thought my street math was a little closer...

And like in my previous post, that rate won't last long, it will just stir up more demand for that dinar we hold.

Edited August 16, 2015 by Officiallytook

[eburt]

More talk no action

[TrinityeXchange]

not another delete the zero piece 

[Jaxinjersey]

Thanks jaxs, thought my street math was a little closer...

And like in my previous post, that rate won't last long, it will just stir up more demand for that dinar we hold.

Yes OT... but that's the problem with lopping the three zeros from the notes (as per this article)... not what we want... and not really a good starting point.  According to that formula, they're already at 3:1 ($3 to 1 dinar).  We need the "removal" to be from the decimals, not the paper!  This has been an ongoing contention...  Thank goodness, this article is just an opinion piece!

[TQueezy]

I don't think Iraq really knows what's best for itself anymore…

I don't think they believe in an RV the way we do.

[WheresmyRV?]

I really wish they would actually do something and not flap their camel teeth about this.  Enough is enough!!    

[Candy01]

Jaygo,

 

At $3, I would FAINT!!!

 

:bravo: :D