Central Bank plans to raise zeros from the Iraqi currency

[sunshinelvr]

Central Bank plans to raise zeros from the Iraqi currency

02/07/2010 15:06

Iraqi Central Bank plans these days to implement a strategy to delete the zeroes of the Iraqi currency in and out, nominal value and keep the cash value and purchasing power without causing any economic Atrapat may occur over this strategy.

The Economic Adviser in the Central Bank the appearance of Mohammed Saleh in a statement that the current year will witness the launch of a strategy, the bank completed 50% of the preparations that are working on since 2005 .. Saleh pointed out that the strategy is based on the principle of gradual replacement of Iraqi currency with another, less in nominal terms, and pointed out that the positives of this strategy is that it will be less expensive and easier trading.

http://translate.google.com/translat...ate.google.com

Edited July 1, 2010 by sunshinelvr

[Doc31]

Thanks for the post

[sunshinelvr]

This says to me that they are gonna rv and release the lower denominations for easier busuness transactiona and increase the purchasing power.

[leggman24]

This says to me that they are gonna rv and release the lower denominations for easier busuness transactiona and increase the purchasing power.

Thats the way i am reading it. Also they are going to change out the big bills for equal of the smaller. WOOOOO HOOOOO!!!!!!

[pitboss]

Thanks for the insight sunshinelvr and the post.

Edited July 1, 2010 by pitboss

[EBJNYC]

Central Bank plans to raise zeros from the Iraqi currency

02/07/2010 15:06

Iraqi Central Bank plans these days to implement a strategy to delete the zeroes of the Iraqi currency in and out, nominal value and keep the cash value and purchasing power without causing any economic Atrapat may occur over this strategy.

The Economic Adviser in the Central Bank the appearance of Mohammed Saleh in a statement that the current year will witness the launch of a strategy, the bank completed 50% of the preparations that are working on since 2005 .. Saleh pointed out that the strategy is based on the principle of gradual replacement of Iraqi currency with another, less in nominal terms, and pointed out that the positives of this strategy is that it will be less expensive and easier trading.

http://translate.google.com/translat...ate.google.com

Blah, blah, blah --- these peeps CANNOT execute a govt transition --- what makes you think they can UNDERTAKE a MONUMENTAL task like this CURRENCY PROJECT !!!!

[lgraham]

This says to me that they are gonna rv and release the lower denominations for easier busuness transactiona and increase the purchasing power.

Great post sunshinelvr! That is exactly what it says to me as well. However, this quote seems similar to previous statements from the central bank. Can we verify that this was stated recently and not just re-posted by a news source? Thanks again sunshinelvr....great job

All the best

Lgraham

[romanjarc]

Central Bank plans to raise zeros from the Iraqi currency

02/07/2010 15:06

Iraqi Central Bank plans these days to implement a strategy to delete the zeroes of the Iraqi currency in and out, nominal value and keep the cash value and purchasing power without causing any economic Atrapat may occur over this strategy.

The Economic Adviser in the Central Bank the appearance of Mohammed Saleh in a statement that the current year will witness the launch of a strategy, the bank completed 50% of the preparations that are working on since 2005 .. Saleh pointed out that the strategy is based on the principle of gradual replacement of Iraqi currency with another, less in nominal terms, and pointed out that the positives of this strategy is that it will be less expensive and easier trading.

http://translate.google.com/translat...ate.google.com

Does the posting date "02/07/2010" means Feb 7, 2010 oJuly 2, 2010 ?

[gman51]

Central Bank plans to raise zeros from the Iraqi currency

02/07/2010 15:06

Iraqi Central Bank plans these days to implement a strategy to delete the zeroes of the Iraqi currency in and out, nominal value and keep the cash value and purchasing power without causing any economic Atrapat may occur over this strategy.

The Economic Adviser in the Central Bank the appearance of Mohammed Saleh in a statement that the current year will witness the launch of a strategy, the bank completed 50% of the preparations that are working on since 2005 .. Saleh pointed out that the strategy is based on the principle of gradual replacement of Iraqi currency with another, less in nominal terms, and pointed out that the positives of this strategy is that it will be less expensive and easier trading.

http://translate.goo....ate.google.com

Great find

Edited July 1, 2010 by gman51

[hot2bewe]

No over there they put the day then month then year

[romanjarc]

Great find

That's what I thought... Thanks!

[pleasantvalleySunday]

That's what I thought... Thanks!

it's not July 2 yet though is it??? even over there :-)

[kaka]

thx for post i hope thay will rv now at low rate maybe 30Cent. Hurrrrrrrra!

[Joe P]

Blah, blah, blah --- these peeps CANNOT execute a govt transition --- what makes you think they can UNDERTAKE a MONUMENTAL task like this CURRENCY PROJECT !!!!

Why are you here? What is your interest in the Dinars? I bet your whole life has been a house of cards where everything is so negative around you. Pity. Even when it does RV, it won't be high enough or fast enough or convenient enough for you, huh?

GO RV BABY!!!!

[WHATTHE]

i'm so tired of reading articles like these...just do something soon so i can figure out if i've wasted a lot of time and money or not!!!

[Cactus11]

Did you look at the other articals that were published around this time? There seems to be some conflicting thoughts. By December of this year any form of currency with 000 on the end of them will no longer be accepted and must be cashed in.

[greebs]

This article is pointing to a lop not an RV. Delete the zeros (Cut the zeros from the bank notes), keep the cash value and purchasing power without causing (no gain or loss in value of the dinar), gradual replacement of Iraqi currency with another, less in nominal terms (For awhile there will be both 25k notes and 25 notes in circulation with the same value until all the 25k notes are collected, then destroyed), and less expensive and easier trading (easier to for accounting purposes).

[joeintt]

This article is pointing to a lop not an RV. Delete the zeros (Cut the zeros from the bank notes), keep the cash value and purchasing power without causing (no gain or loss in value of the dinar), gradual replacement of Iraqi currency with another, less in nominal terms (For awhile there will be both 25k notes and 25 notes in circulation with the same value until all the 25k notes are collected, then destroyed), and less expensive and easier trading (easier to for accounting purposes).

This is exactly how I read it too. But there are alot of peeps that refuse to even think that this is being said because it will represent no big bonanza for us unless it RV's. I too want it to RV and not lop but it does not change the fact that "it could lop"......this article speaks of a lop and not a RV. I hope that I am wrong....but it says what it says......lets just hope that it was put out there to through us off track

[MoraMora]

Sounds to me like an LOP removing zeros from the currency....I thought this LOP was a dead issue .....obviously not for Iraq this continues to come up and now it makes me really wonder whether there will even be an RV....I want an RV just like everyone on this site but when you read something like this...can't help but wonder. ....

[gbrlgms]

This says to me that they are gonna rv and release the lower denominations for easier busuness transactiona and increase the purchasing power.

thats the same way I read it,still people get confused with the lop why is that,Iraq is a very rich country in natural reseource

[zantac]

Good post.

You can take this statement in 2 ways, one being the RV immanent or soon

nominal value and keep the cash value and purchasing power without causing any economic Atrapat may occur over this strategy.

Or you can take it as the LOP

strategy is based on the principle of gradual replacement of Iraqi currency with another, less in nominal terms, and pointed out that the positives of this strategy is that it will be less expensive and easier trading.

Don’t matter how you read it both ways covers all scenarios it’s a very good statement indeed, however the bit that is most concerning is

gradual replacement of Iraqi currency with another

This does not say replacing larger notes with smaller denoms it states exactly what it means, possibly the there holding out for the GCC single currency

This was covered today at this post

http://www.kuna.net....257&Language=en

Read more:

Let the debate begin.

[Guest Serenity]

This article is pointing to a lop not an RV. Delete the zeros (Cut the zeros from the bank notes), keep the cash value and purchasing power without causing (no gain or loss in value of the dinar), gradual replacement of Iraqi currency with another, less in nominal terms (For awhile there will be both 25k notes and 25 notes in circulation with the same value until all the 25k notes are collected, then destroyed), and less expensive and easier trading (easier to for accounting purposes).

Right now, it takes 25000 dinars to make $20USD...Remove three zeroes, it will take only 25 dinars to make $20 USD...(no gain or loss in value)...We will be exchanging for dollars, the IRaqi people be swapping for smaller denoms...If they were going to lop, there would be no smaller denoms...That would just make them even more worthless....And that is not going to increase purchasing power. THe Iraqi people will have their purchasing power increased and the rest of us outside IRaq, will make a profit...End of story...THank you!!

[lgraham]

Right now, it takes 25000 dinars to make $20USD...Remove three zeroes, it will take only 25 dinars to make $20 USD...(no gain or loss in value)...We will be exchanging for dollars, the IRaqi people be swapping for smaller denoms...If they were going to lop, there would be no smaller denoms...That would just make them even more worthless....And that is not going to increase purchasing power. THe Iraqi people will have their purchasing power increased and the rest of us outside IRaq, will make a profit...End of story...THank you!!

Can I get an AMEN!

[Guest Serenity]

Can I get an AMEN!

AAAAAMEN!!!!!!!!!!!!!!!!!!!

[Kimjackie]

Sounds to me like an LOP removing zeros from the currency....I thought this LOP was a dead issue .....obviously not for Iraq this continues to come up and now it makes me really wonder whether there will even be an RV....I want an RV just like everyone on this site but when you read something like this...can't help but wonder. ....

This is not a bad article.........They have to have lower denoms with their money and we will be giving time to trade ours in. You will get a lot of smaller bills for your larger bills and then the value goes up and you still have a very nice investment. The other scenario is that we just swap in for the higher amount of money. They MUST have some sort of money revalue to do business with all the countries. Its ridiculous to think they are going to swap our larger denoms in for smaller denoms and then leave the value as is, cannot happen like that as they cannot continue on the same path. If this happeens the Iraqi citizens lose value AGAIN.

Can I get an AMEN!

AMEN AND AGAIN AMEN, AMEN, AMEN, AMEN