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Najib: New plans to issue less than 250 dinars coin


yota691
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Could it be that they want the new security features on the low notes too?  They retired the 50 already and those didnt.  Arent all the notes under 1000 without the new security features?  Forgive me I havent looked at them in a while.

This could very well be the reason they sure are trying to cut down on counterfeiting.

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"the central bank has new plans to issue a new currency less than the category of the 250 Iraqi dinars to fill the Iraqi market needs,..."

...To me, (I may be misinterpreting it, as is 80% of Iraqi articles) this line promotes currency LESS than the 250 IQD.

 

Maybe as in 100, 50, 20, 10, etc...

If so, could they be the 'gold coins' Iraq said they would produce for citizens?

 

If that's the case, an increase in value would be needed.

 

Just my  :twocents: , if i'm understanding this article correctly.

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Just relax...they're just completing their currency values.

250 dinar = .25 cent piece aka quarter

500 dinar = . 50 cent piece aka half dollar

so on & so on...

where the value ends up with those is what's important.

Take a deep breath...somethings in the works, & we'll see it "soon"

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Iraq ISO currency code still remains the same....and GM DV...

I've signed up to be notified of any changes/additions to ISO currency codes. Haven't received anything concerning Iraq.:twothumbs:

Am I missing something? It would seem to me that for us to get excited, we would want to see much smaller denomination coins than this. anyone else think this?

Less than 250 includes 5, 10, & 20...

.

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History of edits:: 2015/11/19 14:59 • 90 visits readable
story_img_564d9ad254091.jpg
{Baghdad: Euphrates News} parliamentary Economic Committee revealed, new plans intended to implement the Central Bank is to issue a lower class of cash currency {250} dinars, and a new edition to the category of the {500} dinars. "
According to committee member Najiba Najib told {Euphrates News} "The central bank has new plans to issue a new currency less than the category of the {250} Iraqi dinars to fill the Iraqi market needs, as well as to issued a new edition of the Currency category the {500} dinars." . 
The Central Bank of Iraq announced earlier issued a new banknote fifty thousand Dinars category in order to complete the Iraqi Securities monetary structure, and the development of high-class value in circulation. 
It is said that the parliamentary finance committee, said earlier that the Central Bank of Iraq, the process of rolling process 100 000 new dinars category after the issuance of 50 thousand dinars category. It ended 1

History of edits:: 2015/11/20 16:07 • 18 visits readable
story_img_564f17ec88d2e.jpg
{Baghdad: Euphrates News} saw a member of the Parliamentary Commission of Economy Najiba Najib that the category {50} thousand dinars to cause any inflation, and there is an intention to issue less than a {250} dinar currency.
She said Najib told {Euphrates News} on Friday that "the issuance of a class of {50} thousand is a good step but not cause Tkhaddm in the market because the issue of inflation dominated by the central bank," indicating that "the Iraqi currency lacked the large and small currencies". 
She added, "If we compare ourselves neighboring countries, the Iraqi currency need to improve and develop and strengthen where there is an intention to print currency the {100} Elf but has been postponed until further notice, as has been done the {500} new dinars design and there is an intention to issue coins less like fifty dinars for the benefit of the citizen. 
"The bank CBI had announced earlier in the issuance of new banknote category fifty thousand dinars in order to complete the Iraqi banknotes structure, and the development of high-class value in circulation. 
It is noteworthy that the parliamentary Finance Committee announced earlier that the Central Bank of Iraq in connection with the introduction of new process 100 class dinars Elf after the issuance of 50 thousand dinars .anthy category


 

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Yes they already have a 5 and 500-dinar note, but without the modern security features. Let's see.....a the moment, 20 dinars @ $.00086/dinar is equal to $.215, or a whopping 21.5 cents.  So this revised 250-dinar note is currently worth just under a quarter.  According to the FRB (Federal Reserve Board), it costs from ten to twelve cents or so to produce the US denominations that has the modern security features, i.e., the 5,10, 20, 50 & 100 dollar bills.  At the current value of the dinar, it makes no frickin' economic sense to update this denomination...unless, of course, it is expected that the 250-dinar note will be worth a lot more, such as having a value commensurate to that of its US counterparts with similar features.  With a  2 cent/dinar exchange rate, this 250-dnar note would be worth $5.  At 10 cents/dinar, it'll be worth $25. At these levels of exchange rate, the viability of printing these denominations makes good fiscal sense. 

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After reading three pages of postings, I am as confused as before, so here is a question for the group. What are the current denominations of bills used in iraq right now. Start with 25,000 and slide down the scale. Please post only what is currently on the street, not proposed. Thanks.

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