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The central bank issues a decision to cover the market need of small monetary categories


yota691
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50 minutes ago, Botzwana said:

Yeah sick of the gurus AND sick of the antigurus.  The ones that are pissed that this has not happened yet and thus predict in an old man´s voice...This will be 5 or more years out!  Ugh.  Since I have been here I come here everyday.  I will continue to.  Get up every morning to see if we are rich yet.  

Everyone has to be sick of something. GO RV.

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1 hour ago, new york kevin said:

 

I am sick and tired of being sick and tired from allergies and sinus infections.

I had mine operated on a few years ago from what was left over from sinus issues. They went in from the top of my mouth. I had a deviated septum years ago. Some time back a doctor supposedly fixed it. The next doctor felt that taking out my uvula and tonsils would help. The last doctor said, the first doctor did a roto ruder on me and took out 80% of my cartridge in my nose, my nose is collapsed and it was going to take a 13 hour sugery to fix it. I said, no thanks. 

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On 9/12/2018 at 9:02 PM, js214 said:

That is removing the zeros off the Rate-- .00086 becoming .86 example 

 

"How come no one understands this?"

 

"You have a $25,000 iraqi dinar that at the present is worth $21.50.  Now you delete the zeros off the note and don't change the rate.  Now you have a $25 iraqi dinar at .00086 exchange rate"

 

 Because essentially you are saying 25k will fetch us 25.00 woohoo  "  The dinar in Iraq will be worth what our dollar is worth"  ?? two different statements.. this would or could be construed at a removal of the rate zeros , no? .00086  .86 gives us close to a dollar per    so which is it?

 

 

 

"

A rate of .86 gives us over the dollar when the math is done correctly.

 

1 USD divided by .86 equals 1.16 USD (rounded) per 1 IQD. 

 

1 USD divided by 0.00086 equals 1 USD per 1162.79 IQD

 

25000 IQD divided by 1162.79 (IQD per USD, rounded) equals 21.50 USD (rounded) per 25,000 IQD.

 

But the exchange rate is not 1162.79. According to the CBI it's 1190. Which would make it 0.00084 (rounded), not the 0.00086 (rounded) exchange rate. Plugging this rate into the above equations:

 

1 USD divided by 0.84 equals 1.19 USD (rounded) per 1 IQD. 

 

1 USD divided by 0.00084 (rounded) equals 1 USD per 1190 IQD

 

25000 IQD divided by 1190 (IQD per USD) equals 21.01 USD (rounded) per 25,000 IQD.

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10 minutes ago, Theseus said:

A rate of .86 gives us over the dollar when the math is done correctly.

 

1 USD divided by .86 equals 1.16 USD (rounded) per 1 IQD. 

 

1 USD divided by 0.00086 equals 1 USD per 1162.79 IQD

 

25000 IQD divided by 1162.79 (IQD per USD, rounded) equals 21.50 USD (rounded) per 25,000 IQD.

 

But the exchange rate is not 1162.79. According to the CBI it's 1190. Which would make it 0.00084 (rounded), not the 0.00086 (rounded) exchange rate. Plugging this rate into the above equations:

 

1 USD divided by 0.84 equals 1.19 USD (rounded) per 1 IQD. 

 

1 USD divided by 0.00084 (rounded) equals 1 USD per 1190 IQD

 

25000 IQD divided by 1190 (IQD per USD) equals 21.01 USD (rounded) per 25,000 IQD.

Please add to the above:

 

The difference of being "close to the dollar" versus being "over the dollar" at the above exchange rates is roughly $160,000 for the first and close to $200,000 for the second per million IQD. In terms that are relatable, this is the cost of a two-story, four bedroom, two and a half bath home in an average US subdivision in the Midwest.

Edited by Theseus
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1 hour ago, Theseus said:

Please add to the above:

 

The difference of being "close to the dollar" versus being "over the dollar" at the above exchange rates is roughly $160,000 for the first and close to $200,000 for the second per million IQD. In terms that are relatable, this is the cost of a two-story, four bedroom, two and a half bath home in an average US subdivision in the Midwest.

I’ll take it! Good thoughts Theseus 

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3 hours ago, Theseus said:

Please add to the above:

 

The difference of being "close to the dollar" versus being "over the dollar" at the above exchange rates is roughly $160,000 for the first and close to $200,000 for the second per million IQD. In terms that are relatable, this is the cost of a two-story, four bedroom, two and a half bath home in an average US subdivision in the Midwest.

Thanks Theseus for the demo

2 hours ago, NEPatriotsFan1 said:

I’ll take it! Good thoughts Theseus 

I was thinking the same thing. I would be happy with either.  

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17 hours ago, Botzwana said:

Navira I am in you guy´s camp now.  Not into the negativity that it will be 5 more years like others.

Good choice Botz! I joined the "HA HA" camp a few months back. When the positive energy is high you gotta receive it and believe. We are close. As I've said in a few posts over the past few months I'm watching only the CBI's actions. The news is always encouraging and shows me that things are moving along no matter what the naysayers mention.

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18 hours ago, navira said:

"strengthening the currency and the Iraqi dinar at the present time". This was from the recent article. Now the CBI came out today(Saturday) that it will accept dollars from all banks according to the law's criteria...this really tells me that CBI is about to dedollarize Iraq...before this happens, CBI has to give the dinar the purchasing power...then the dedollarizarion will take place which is why i agree with LB...and like i said before, i have a really good feeling that our blessing may come late.next week

 

 

:praying::praying::praying:

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http://www.alsabaah.iq/ArticleShow.aspx?ID=163548...........

 

Small denominations of currency

   
 

 
 

Author: Mohamed Sherif Abu Maysam

24/9/2018 12:00 AM

Economists define money as anything that is generally acceptable to pay for economic goods or services or to repay 
 debt. 
 Money is the basic part of human life, especially after the end of the barter can not eat or drink or spend his work only with the availability of money has, after this simple illustration in this article explains the role of the Central Bank not to put it for small cash categories (250, 500) This is what I hear from most of the public when we rent a car or when we buy clothes or food. Economic researchers are talking about why the central bank did not print small (new) monetary categories and which department is responsible for the currency.
The answer to this question is that I did not defend the Central Bank and did not make any effort in this matter, despite the fact that it is an important and sensitive subject. There is a claim that the most important function of the Central Bank is issuing the currency. I disagree with them on this point. The center is printing the Iraqi currency in the best printing presses in the world, namely (Germany) and therefore there is a department of issuance and the treasury is responsible for issuing and follow up this money, especially  
(small). 
 The 250 currency currency has a life to reprint and the cash currency (500) has the same age to be reprinted. The central is to replace the most used (damaged) cash categories (250, 500) from the public and banks without a commission. This is a step towards achieving The stability of the bank will be carried out by the Central Bank  
successfully.
In addition to the withdrawal of a large amount of categories (damaged) from the public daily, the Department of the issuance and cabinets in the Central Bank of Iraq to withdraw these categories damaged from the public and replace them with new categories and then press and puncture and tearing in the sites of the Department of the issuance and then print new categories with  
their cost . 
The centralist has a great responsibility and is capable of this task, where he works to follow the reality of the cash circulation, and takes into account the circulation of the small group and non-acceptance of the damaged ones in simple daily transactions, so the solution was to work to put the 
required categories  
 
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6 minutes ago, blueskyline said:

In addition to the withdrawal of a large amount of categories (damaged) from the public daily, the Department of the issuance and cabinets in the Central Bank of Iraq to withdraw these categories damaged from the public and replace them with new categories

 

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  • yota691 changed the title to The central bank issues a decision to cover the market need of small monetary categories
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