Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

Finance Committee: the central bank to issue any financial category offset by the withdrawal of classes 10 and 25 000 dinars


yota691
 Share

Recommended Posts



Finance Committee: the central bank to issue any financial category offset by the withdrawal of classes 10 and 25 000 dinars

November 17, 2015

 









  •  



%D8%A7%D9%84%D8%AF%D9%8A%D9%86%D8%A7%D8%

Our economy / Baghdad


Detection of the Finance Committee member Abdul Qader Mohammed, Tuesday, for the withdrawal of 25 thousand dinars compared to the category of the new category issued by the Central Bank, as he emphasized that the issuance of the fifty thousand category will make it easier to deal in Iraqi dinars at home to reduce the trend towards the dollar.


Mohammed said: Pentecostal group that issued by the Central Bank does not have any negative impact on fiscal policy in Iraq.


He stressed that the Iraqi currency dealing will be closer to deal private dollars for businesses which use large amounts of money where it is most dealing in Iraqi dinars existence of 50 thousand class.


He added that the issuance of this category will make it easier to deal in Iraqi dinars to be at home in the biggest turnout of the dollar, which have an impact on reducing the trend towards last


He disclosed that a new class is issued by the central bank in return will withdraw the class 25 000 or 10 000.


Little, the central bank announced in November 201 511 for issuing banknotes category 50 000 dinars dimensions of 65 mm width, 156 mm length and predominantly light brown except Framework decorations that took bold color were printed using the superior quality of the printing paper with A number of security and the technical marks.





  • Upvote 6
Link to comment
Share on other sites

The article states in the first paragraph, "as he emphasized issuance of the fifty thousand category will make it easier to deal in IRAQI DINARS AT HOME to reduce the trend towards the dollar." Please pardon my capitalization since I am not shouting but only emphasizing the article is addressing the monetary instruments in Iraq.

My opinion is this is good, really good. This, along with all the articles Yota and others bring, indicates Iraq is intent on having the Iraqi dinar as the only monetary instrument used in Iraq and are sucking out all the USD (possibly all other foreign currencies) imminently.

How could this happen without the Iraqi Dinar significantly increasing in value versus foreign currencies soon after?

Once the in Iraq project is deemed complete by Iraq, I strongly believe we will see the true Iraqi Dinar rate. I am looking for the true rate to show internationally at, or about the same time as, Shabbibi is announced as the CBI governor. Shabbibi as governor will indicate the corruption and general mess in the CBI since the Saddam through Maliki days has been cleaned up to the extent necessary for stable economic reform. Hence, all the past CBI corruption issue in the news. I suspect the news articles are crafted to show the reformists are dealing with the corruption and are true to their word to meet the demands of the Iraqi people.

In short, I ain't parting with my large denominations of IQD until I get my true revalued IQD rate!

Thanks, Yota, for bringing this and all the other articles over!

  • Upvote 9
Link to comment
Share on other sites

Help me with this. If the 50K dinar note is intended to pull in the 10K & 25K dinar notes and the US Dollar, what happens if the dinar (optimisticly) shoots to a dollar? The 50K note which had been worth $45 USD is now worth $50,000 USD. Wouldn't Iraq be much better off flooding the streets with USD which won't change value if the Dinar does increase in value?

  • Upvote 1
Link to comment
Share on other sites

Parliamentary Finance reveal L / scales News / withdrawal of class 25 000 for the issuance of the new category

Economy and Tenders

 Since 11.17.2015 at 11:59 (GMT Baghdad)

fghdfhh.jpg

Special - scales News

Detection of the Finance Committee member Abdul Qader Mohammed, Tuesday, for the withdrawal of 25 thousand dinars compared to the category of the new category issued by the Central Bank, as he emphasized that the issuance of the fifty thousand category will make it easier to deal in Iraqi dinars at home to reduce the trend towards the dollar.

Said Mohammed's / scales News / "The Pentecostal Category issued by the Central Bank does not have any negative impact on fiscal policy in Iraq," stressing that "the deal of the Iraqi currency will be closer to deal private dollars for businesses which use large amounts of money where more deal in Iraqi dinars existence of 50 thousand class ".

"The issuance of this category will make it easier to deal in Iraqi dinars at home to be a turnout it be bigger than the dollar, which have an impact on reducing the trend towards the latter," revealing that "any new class is issued by the central bank will in return withdraw category 25 000 or 10 000 ".

The central bank announced in November 201 511 for issuing banknotes category 50 000 dinars dimensions of 65 mm width, 156 mm length and predominantly light brown except Framework decorations that took bold color were printed using high-quality printing paper quality with a a number of security and technical marks Viha.anthy 29/4 e

 

  • Upvote 2
Link to comment
Share on other sites

I think we are listening to another garbled translation which is confusing at best. The new 50,000 dinar note is designed to help banks in large transactions. Just imagine if we did not have the $50 or $100 dollar bills. If we had to pay for everything cash using $20's. That's all they are doing. But, down the road, they are setting up their currencies to eventually remove the zeros and bring the dinar to a 1 to 1 par with the dollar. I am hoping that they revalue the peg significantly before any major currency changes. We do not want a LOP. Keeping the three zeros on the currency is our money multiplier.

  • Upvote 3
  • Downvote 2
Link to comment
Share on other sites

I think we are listening to another garbled translation which is confusing at best. The new 50,000 dinar note is designed to help banks in large transactions. Just imagine if we did not have the $50 or $100 dollar bills. If we had to pay for everything cash using $20's. That's all they are doing. But, down the road, they are setting up their currencies to eventually remove the zeros and bring the dinar to a 1 to 1 par with the dollar. I am hoping that they revalue the peg significantly before any major currency changes. We do not want a LOP. Keeping the three zeros on the currency is our money multiplier.

I agree.  This sentence backs that up, again as you state translation leaves much to interpretation.

 

 

"stressing that "the deal of the Iraqi currency will be closer to deal private dollars for businesses which use large amounts of money where more deal in Iraqi dinars existence of 50 thousand class ".

 

Link to comment
Share on other sites

Yota Thanks, A lot of misinformation and confusion coming from all sides. The GOI, CBI & Parliament are very aware of the monetary changes coming in the near term. Their time to return to the international stage is upon us so sit back and receive the blessings. All will be revealed as LGD has stated on numerous occasions "Suddenly"

Keeping the faith!!

GO RV!!

  • Upvote 4
Link to comment
Share on other sites

Sure sounds like it. Just like the 50k note months ago.

 

Certainly unnerving that no one is addressing this question--or possibility. Kinda like desperately sticking their heads in the sand hoping it will go away...

 

I'd love to hear why this scenario absolutely WILL NOT play out. I'd like to dump mine before this happens if that's the way it's going to go. 

  • Upvote 1
Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.