yota691 Posted January 3, 2017 Report Share Posted January 3, 2017 Central denies dropping the old edition of the Dollar Economy 26/12/2016 10:22 Suspension 89 views Iraqi Central Bank denied Monday reports that talked about dropping the old edition of the dollar, adding that he can not do that step, but notice from the US Department of Treasury. A spokesman for the Acer Bank Jabar told I followed NOAA "The news that I talked about not dealing in dollars the old edition are completely untrue and baseless. He added that "the process if they occur would be after receiving notification from the banking agencies and the US Treasury Department had been replaced dollar new currency. Jabbar said that international banks will give allow for the replacement of old money and new editions period will inform citizens about this process by the official announcement by the Central Stat Counter. 3 Quote Link to comment Share on other sites More sharing options...
SgtFuryUSCZ Posted January 3, 2017 Report Share Posted January 3, 2017 ***/// VERY interesting....! Now here's a thing that makes ya go "Hmmnnn..." Word must be leaking out from within that a change is imminent or else why this...? ... or the other article referencing to an "exchange rate" this morning...? Ooh, they can't keep a thing like this secret much longer -- the general population will begin to simmer & boil then the shoes'll start flyin'...! Better GIT 'ER DONE, CBI ! 2 Quote Link to comment Share on other sites More sharing options...
TQueezy Posted January 3, 2017 Report Share Posted January 3, 2017 Does this indicate they've been circulating the same edition of dollars and haven't really gotten any replacement bills from the US Treasury? What happens when the bills wear down and have to be taken out of circulation? What happens if we don't send anymore over for some reason? 1 Quote Link to comment Share on other sites More sharing options...
Texstorm Posted January 3, 2017 Report Share Posted January 3, 2017 The Iraqi Treasury could easily keep the USD as reserves wether it's collected by the CBI or through direct payments. If they want to run the country on the IQD it's as simple as collecting the USD through transactions. The term is known as Official International Reserves which is typically held in a capital account. 2 Quote Link to comment Share on other sites More sharing options...
Hikmah Posted January 3, 2017 Report Share Posted January 3, 2017 I think this is more about the new $100 bill that came out, the CBI is telling everyone that they will stay take it and that it's up to the US Treasury to decide whether or not it should be recognized as legal tender of the USA. Rumors are rampant in Iraq because of ignorance when it comes to finances, the article doesn't speak to the dinar, it's just talking about newer editions of US currency. To these guys, the new C note must have really freaked them out with the new colors and stuff. 3 Quote Link to comment Share on other sites More sharing options...
Officiallytook Posted January 3, 2017 Report Share Posted January 3, 2017 Are they saying the lower & 000 notes will coexist with the same value as here in the US when we make new colorful money 1 Quote Link to comment Share on other sites More sharing options...
tigergorzow Posted January 3, 2017 Report Share Posted January 3, 2017 9 minutes ago, Officiallytook said: Are they saying the lower & 000 notes will coexist with the same value as here in the US when we make new colorful money Officiallytook, We surely hope so and we await full implementation of the plan as stated in previous articles by the CBI. Pull that trigger!! 2 Quote Link to comment Share on other sites More sharing options...
Hikmah Posted January 3, 2017 Report Share Posted January 3, 2017 From what I understand, they've always said that the LD's and the 000 notes will coexist for up to two years. Here in the US, that's not an issue, when the notes become too worn the banks turn them into the Fed and get replacement notes. Eventually, the older $100 notes will slowly disappear as they wear, but in Iraq, they're used as a "store of value" because no one uses the banks to deposit their money. Instead, they put these C notes under the mattress and wait for the rainy day to come to pull them out. So, when the rumors came out that the CBI wouldn't take the older $100 notes, there was a brief panic because they use these notes in Iraq to save their money. 4 Quote Link to comment Share on other sites More sharing options...
sandfly Posted January 4, 2017 Report Share Posted January 4, 2017 Thanks 1 Quote Link to comment Share on other sites More sharing options...
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