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Upgrading of the Iraqi currency


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I have read most of Adam's emails but did I miss something?  Probably forgot but are they going to do away with some of the currency amounts like the $50,000.00?  What is happening with that or did I misunderstand?  I didn't read that from here, just from a google.

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On 3/3/2017 at 8:09 PM, Domains said:

"Plastic Money"  how would this fit in to a wallet ? ...since it would be thicker than paper,  unless it is made from like softer Nylon... humm.

Go back and read the article. It tells you what the "plastic currency" is made of. Apparently, you have never held or have even seen Australian currency. I met an individual from Australia who was in America to work. At the time Australia was just rolling out with their "plastic currency". The lot of us each took turns trying to rip it up. We couldn't. I wish now I had exchanged with him. Instead our group took a USD dollar bil and ripped it into 8 parts and agreed to meet at a certain location on a certain date and time. I still have my piece layin around somewhere.To say this will not fit inside of a wallet, you have no clue if any what you are even talking about. Oh and the Australian currency was thinner than a 1 dollar bill when we compared them.

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On 3/3/2017 at 7:09 PM, Domains said:

"Plastic Money"  how would this fit in to a wallet ? ...since it would be thicker than paper,  unless it is made from like softer Nylon... humm.

Vietnam Dong is a polymer type money about the thickness of other notes . Avoids moisture damage

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Thanks DT, Yota, Dodds, GregHi...I've always kept a couple of things in my head about the RV that've stuck with me for some reason...Both of which was mentioned by the then Governor of the CBI Shabibi...He said first that in his opinion the middle of the year would be best for a RI/RV...and secondly, when it was time for the RI/RV it would be so apparent, there would be no doubt of it happening...Well, it getting pretty close to the middle of the year and there's been several articles come out lately about the RV...and this one being the latest and most persist so far...jmho 

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Central Bank: We have succeeded in ending the exchange rate gap
 
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Economy News Baghdad:

The head of the central bank's financial operations, Mahmoud Dagher, said Saturday that the central bank's three-pronged strategy has contributed to the reform and development of the banking sector. 

Dagher said during a seminar held on the ground of the Baghdad International Fair entitled "Challenges of the banking sector and the reform strategy" and attended by "Economy News", "The reform carried out by the Central Bank, based on three axes, the first close the exchange rate gap, Carrying out financial inclusion and settling salaries and the third related to the process of technical development within the banking system.

He stressed that "these axes constitute the basis of the strategy of the Central Bank to develop the banking system."

During the seminar, the Director of Financial Statistics at the Central Bank talked about identifying the challenges coming from the external environment, which included public banks and the science of low capital, as well as the absence of law in the process of achieving the shortcomings of the customers towards banks.

The director of risk management at the Bank of Baghdad, Nabil Abdel-Hur Toman, talked about the political risks and their relationship to foreign investment.

"Any country with high political risk will prevent the foreign investor from coming to it," Toman said. "We need to develop a methodology and strategy for the coming years related to planning, measuring and analyzing risks to minimize their impact."

And that the reduction of risk requires the participation of the government and the central bank and investment bodies as well as the banking sector.

He pointed out that "Tuman should provide a saving investment environment to the successful investor has a sophisticated banking system and fixed laws and investment facilities for taxation," adding that "Iraq during 2014-2015 was ranked sixth in the world on the level of political risk, according to international reports" .

In turn, the financial adviser to the Association of Iraqi Private Banks, Samir Nusairi, explained during a speech at the symposium that "the challenges facing the banking sector is not the last responsible, but the structural imbalance in the economy in general."

He stressed the need for a clear methodology to overcome this structural imbalance, which is reflected in the inability of non-oil revenue and the deficit of the general budgets of the state as well as the balance of payments deficit and other aspects related to infrastructure.

He pointed out that the banking sector, under the leadership of the Central Bank of Iraq and according to the strategy of the last years 2016 2020, has been able to achieve good results in the development of the banking sector, including financial inclusion and the settlement of salaries.

 

Views 6   Date Added 31/03/2018

http://economy-news.net/content.php?id=11763

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On ‎5‎/‎13‎/‎2018 at 4:38 AM, ChuckFinley said:

There are a ton of positive signs, we just need what ever is the tipping point to happen. 

How about Trump pulling every last dollar out and then they have no choice but to get on their own currency..

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On 6/4/2018 at 6:05 AM, js214 said:

How about Trump pulling every last dollar out and then they have no choice but to get on their own currency..

Could never happen. Cannot be a voluntary withdraw of cash has to be involuntary meaning to make the crap illegal under the pnealty of death. Send a few people to the gallows to show this means biz. No one will want a dollar inside iraq.

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 December 26, 2019
The Bulgarian National Bank informs the Central Bank of Iraq to renew its (50) Lev currency note

 



The Central Bank of Iraq announces that the Bulgarian National Bank has renewed its (50) Lev banknote, in addition to updating some of the security specifications found in the 1999 and 2006 versions of the same category above. Legal until replacement of damaged banknotes in this category.
 
The Central Bank of Iraq
information Office
December 26, 2019

  
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25 minutes ago, Theseus said:
  
 December 26, 2019
The Bulgarian National Bank informs the Central Bank of Iraq to renew its (50) Lev currency note

 



The Central Bank of Iraq announces that the Bulgarian National Bank has renewed its (50) Lev banknote, in addition to updating some of the security specifications found in the 1999 and 2006 versions of the same category above. Legal until replacement of damaged banknotes in this category.
 
The Central Bank of Iraq
information Office
December 26, 2019


 

  

Thanks for the news.

 

Is there any significant to us as IQD holder?

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