Central Bank underlines the lack of any withdrawal from the trading category to coincide with the release of the 50 thousand

[yota691]

Central Bank underlines the lack of any withdrawal from the trading category to coincide with the release of the 50 thousand dinars

November 25, 2015

 

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Our economy / Baghdad

Central Bank underlines the lack of any withdrawal from the trading category to coincide with the release of the 50 thousand dinars.

 

[sandfly]

THANKS

[yota691]

 

11/25/2015 15:46

Drag to any category of cash in exchange for the new currency

 

 

 

BAGHDAD / Obelisk: The Central Bank of Iraq, on Wednesday, that the issuance of 50 thousand dinars category will not be accompanied by the withdrawal of any other category of trade, pointing out that the issuance of this class or any other class does not affect the inflation and deflation.

The bank said in a statement seen by 'Obelisk', The 'new banknote to the category of 50 thousand dinars will complete the banknotes in circulation series currently and will increase its ability to meet the public requirements, and that the issuance of this class or any other class will not be accompanied by the withdrawal of any class of trading' .

He said the bank, that the 'Print banknote and put it in the trading process (released) are not related to the topic of public spending and not unrelated to state resources or to strengthen their capacity in spending', adding 'there is a link between what is marked by the Central Bank of banknotes, and between the cash version achieved as a result of withdrawals from banks balances has'.

He continued, that 'the issuance of this paper or any paper higher or lower value is not connected with nor impact on the economic situation, or in inflation or deflation'.

The Central Bank of Iraq, on Wednesday (November 11, 2015) for issuing a new banknote fifty thousand Dinars category, attributing this to the completion of the Iraqi Securities monetary structure and the development of high value in the trading category.

 

 

Paper category of cash 50 000 dinars

Central Bank: the issuance of 50 thousand dinars will not be accompanied by the withdrawal of any class of trading

 

Author: ASJ, HH 
Editor: HH, NS 2015/11/25 13:19 Number of Views: 184 
 

 

 

Long-Presse / Baghdad

The Central Bank, said on Wednesday that the issuance of 50 thousand dinars category will not be accompanied by the withdrawal of any class of trading, and pointed out that the development of banknote in circulation unrelated to state resources, as he emphasized that the issuance of this paper will not affect the country's economic situation.

The central bank said in a statement received (range Press), a copy of it, he was "gratefully received public comments and some professionals, politicians and the media for banknote which intends to issuance of a class (fifty thousand Dinars) We were pleased with all their content to our belief that this paper is acquired It deserves the attention and care, "noting that" this paper has given more opportunities to learn about trends in public opinion and make appropriate disclosures. "

He added the central bank, that "the new banknote will complete the banknote series currently in circulation and will increase its ability to meet the requirements of the public," adding, "The issuance of this class or any other class will not be accompanied by the withdrawal of any class of trading."

The statement continued, "The printed banknote and put it in the trading process (released) are not related to the topic of public spending and not unrelated to state resources or to strengthen their capacity in spending," stressing that "there is no link between what is marked by the Central Bank of banknotes, and between the cash version achieved as a result of withdrawals from banks balances has. "

It pointed out that "the issuance of this paper or any paper higher or lower value is not connected with nor impact on the economic situation or influencing inflation or deflation."

The Central Bank of Iraq, announced on Wednesday the (11 November 2015), for the issuance of banknotes category (50) thousand dinars, and as pointed out that the new category is dominated by light brown with included a number of security and technical marks, stressed that the The paper included photographs planning to paddle wheel and Euphrates marshes of Iraq.  

[gregp]

You're the man Yota!          

[Texstorm]

Thanks Yota ! Ok so they are saying that the CBI is not removing the value of any class of notes.........now if they could add value we might be sitting good.

[Jaygo]

Thanks Yota ! Ok so they are saying that the CBI is not removing the value of any class of notes.........now if they could add value we might be sitting good.

[nfire]

Good for us for now

[waterman13]

will not be accompanied by the withdrawal of any class of trading, and pointed out that the development of banknote in circulation unrelated to state resources, as he emphasized that the issuance of this paper will not affect the country's economic situation.

I like it!

Wm13

[ChuckFinley]

Good for us for now

Was thinking the same thing.

[yota691]

The central bank justified the currency of the fifty thousand dinars version adds: I will not accompanied by the withdrawal of any currency

 BAGHDAD - Iraq Press - November 25: The Central Bank of Iraq, announced Wednesday, that "printed new banknote than fifty thousand dinars category and put it in the trading process are not related to the topic of public spending and not unrelated to state resources or to strengthen their capacity in spending and no link between what is marked by the Central Bank of banknotes, and the version obtained as a result of cash withdrawals from banks balances has. " 

 

 

He said the central bank, who faces charges of disappearance of $ 10 billion from the treasury during the reign of the previous government, in a statement, that "the banknote which intends issued than fifty thousand dinars category or any paper higher value or lower is not connected with no impact on the economic situation or influence in inflation or deflation, "as he described," adding,   "The new banknote will complete the banknotes in circulation series currently and will increase its ability to meet the public requirements and that the issuance of this class or any other class will not be accompanied by the withdrawal of any class of trading" .anthy O.h 

 

 

[Big_J]

GM YOTA AND DV.

[chris2028]

Thanks Yota!!

[The Machine]

hmmm so they're increasing the note count, increasing the amount of dinar in existence ......... and no mention of the rate changing against the dollar.

 

if any other country did this it wold result in a decrease in the value of the currency.

 

I'm still at a loss how others see this as a good thing for us, agreed it is good that they are not getting rid of other currency classes but it opens up even more important questions like the rate and the real reason why they need this substantially larger currency class...... are they expecting inflation to hit in a big way ?? 

[notaguru]

This to me is just saying all values (classes) of bills aren't going anywhere. This doesn't mention "note count" it just mentions the classes will remain. They'll probably still pull out the damaged bills as they slip in the 50k notes to keep the rate level...but no retiring of any classes anytime soon.

Also...I totally see the 50k as a needed, neutral, no-brainer. Imagine going into Wally-World this Black F riday to pick up a new gigantic flat screen...but all you got to pay for it is a WAD of 20 dollar bills. It'd be nice to have that in 50s right?...100s would be even sweeter!

I see the silver lining where others don't....

Right NOW Iraqis aren't worried about expensive items, they're broke! BUT...maybe, that won't be the case down the road a bit, and they may need bigger bills to cover bigger purchases.

Atleast till the big bang happens and the LDs are dropped into the market.

just my $.0008327907762549552

Edited November 25, 2015 by notaguru

[new york kevin]

Ditto Notaguru.

hmmm so they're increasing the note count, increasing the amount of dinar in existence ......... and no mention of the rate changing against the dollar.

 

if any other country did this it wold result in a decrease in the value of the currency.

 

I'm still at a loss how others see this as a good thing for us, agreed it is good that they are not getting rid of other currency classes but it opens up even more important questions like the rate and the real reason why they need this substantially larger currency class...... are they expecting inflation to hit in a big way ??

With that said, Machine: I would like to ask why did you say the note count was rising? Do you know something no that we don't know? Something no one else is sharing? Links? Proof? Just asking because this is interesting.

[The Machine]

Ditto Notaguru.

With that said, Machine: I would like to ask why did you say the note count was rising? Do you know something no that we don't know? Something no one else is sharing? Links? Proof? Just asking because this is interesting.

 

well it was just a thought, if they are not discontinuing any of the existing denominations apart from destroying the torn /ripped notes as they would be anyway then this new denomination is an introduction of new dinar into existence ........ new dinar = higher note count

[Rasica]

I saw what  appears to be double speak on this article;

 

1. 50 thousand dinars will complete the banknotes in circulation series currently and will increase its ability to meet the public requirements
2. He said the bank, that the 'Print banknote and put it in the trading process (released) are not related to the topic of public spending
3. Central Bank underlines the lack of any withdrawal from the trading category to coincide with the release of the 50 thousand dinars.

​Article states "to meet public requirement" ~~ Article states "not related to public spending" ~~   Article states "put in trading process".

 

Therefore { "public requirement" is for "trading process" only} since it is  "not related to public spending".

 

So then this means an Iraqi citizen if "trading" their present currency for a 50K cannot use the newly acquired 50K for spending.

 

​I'm sure the Iraqis are jumping at the bit for that opportunity eh?

 

------

 

If that be the case for "trading process" then why are they selling the "physical currency" in the U.S. in 2-3 weeks? So we cannot spend it?

 

The only other option I see is that it is used for Auction purposes only as a "public requirement" ~ confusing!

 

Therefore if it cannot be spent and is only in the theatre of "auction" then why even tell the public when they cannot spend it?

 

The law states Americans are to be treated the same as Iraqi citizens when it comes to currency ownership.

 

So if they are selling the physical 50K to U.S. citizens it must in turn be sold to the Iraqi citizens who cannot spend it. WOW!

[NoviceInvestor]

this is all a little confusing to me.. Has the ball moved much much closer to the hole or further away?...

[Antietam]

I think they are just introducing a larger denomination for banking purposes. I don't believe this move by the CBI conveys any hidden meanings. It doesn't mean a LOP is coming nor does it portend any good news as far as I can tell. It's just banking facilitation. I could be wrong of course, but that's all I see in this move by the CBI.

[Rasica]

I think they are just introducing a larger denomination for banking purposes. I don't believe this move by the CBI conveys any hidden meanings. It doesn't mean a LOP is coming nor does it portend any good news as far as I can tell. It's just banking facilitation. I could be wrong of course, but that's all I see in this move by the CBI.

 

The only thing I see here on this take, is that they are "scheduled" to be selling the 50K in the U.S. as listed on IQD dealer sites.

 

Granted this article is quit confusing.

[yota691]

 Still No New ISO Code...

 

 

Central bank: paper version of the fifty thousand dinars unrelated nor the impact on the economic situation

 

      Wednesday   25   November   2015 | 15:53

 

 

 

 

Version of this paper, or any paper higher or lower value is not connected with nor impact on the economic situation or influencing inflation or deflation

 

 

 

Received the CBI gratefully public remarks and some professionals, politicians and the media for banknote which intends to issuance of a class (fifty thousand Dinars), it expressed in a statement pleased with all their content to our belief that this paper captured the attention it deserves and care, and gave us more opportunities to learn about trends in public opinion and provide appropriate clarifications and the bank would like to point out the following: 
1. The new banknote will complete the banknote series currently in circulation and will increase its ability to meet the requirements of the public and that the issuance of this class or any other class will not be accompanied by the withdrawal of any class of trading 
2. The printed banknote and put it in the trading process (released) are not related to the topic of public spending and not unrelated to state resources or to strengthen their capacity in spending as there was no connection between what is marked by the Central Bank of banknotes, and between the cash version achieved as a result of withdrawals from banks balances has 
three. The issuance of this paper or any paper higher or lower value is not connected with nor impact on the economic situation or influencing inflation or deflation ...

[justchecking123]

I can't see lower denominations coming out after all this.

 

Seems pretty cut and dried with their currency in place now.

 

[brokerkeith]

Interesting Posts.................As always, Gracias for bringing it Yota!!

________________________________________________________

 

Well Spoken, Well Invested, Euro Based, More logical than most.....

 

Could our "Machine"  be the World Famous Anonymous (see avatar).... 

 

 

Wouldn't that be Cool!!   

 

Disclaimer: This is only a joke Mr. CIA Agent Anonymous Tracker

[yota691]

Economic parliamentary: the currency of the 50 000 dinars does not affect the value of the Iraqi dinar

27/11/2015 01:45 | Number of Views: 35

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Direction Press / Agencies

Reduced member of the parliamentary Economic Committee Najiba Najib, on Friday, of the importance of the printed 50 000 dinar coin being ineffective on the value of the currency in general.

Najib said in a press statement that "the printed 50 000 dinars category soon and put on the market will not affect the value of the Iraqi currency at all."

"The goal of printed at the present time in order to avoid carrying large amounts always Mataatard to steal," adding that "the value of the Iraqi currency remained the same and no need to fear."

She noted that  "probably put a small metal coins Kmeskukat as is the case in all countries of the world." 

Najib and showed that "the rumors about the effect on the economic situation because of the new currency groundless his health," asserting that "the Iraqi dinar still maintains its position despite the difficult economic conditions experienced by the country."

[blueskyline]

Thank You Yota