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


yota691
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3 hours ago, Carrello said:

 

Cranman, these news articles are difficult to read and may appear cryptic to us, but you have to realize we are reading a translation of a language that uses completely different symbols for their alphabet than the English language, they write right to left, opposite from how we read and write, and this translation is being done by a machine, a computer. Also, the Arabic language uses fewer symbols than English but a huge part of the meaning of words is the use of the inflection of the voice, which is not picked up in print. One word can have 3 or 4 meanings when voice inflection is used to convey those meanings.

 

These translations are tough. My eyes cross.

I have seen and heard worse translations made by humans. I would rely more on a translation done by computer and have in various languages (Spanish, Russian, Ukrainian, Portuguese, Italian, Polish, and others). In almost all cases, the intended recipient had no idea a computer had translated the written composition but had responded as if a human spoke/wrote the correspondence. Most of this was done within a top global company (GE) in which I had to talk to people all over the world in order for them to be productive. There were some idiosyncrasies but the computer translation was far better than human translation. An interesting tidbit most translators who freelance use computer software to do their translations. People will be people and in a data-driven world, people, no matter where they are in the world, are still reluctant to place trust in computer-generated information. Trust but verify which is why I always asked for the original text along with the translation.

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Damaged and defective banknotes and their replacement standards

Damaged banknotes are those securities that remain in circulation for a long period of time and over time use by all groups of society. This leads to the damage being damaged due to the repetition of this use, which dictates to the central banks the responsibility to withdraw the worn currencies from circulation. Central Bank, which has the right to execute damaged and defective banknotes and replace them with the same value to citizens and according to the criteria determined by the bank to receive these damaged banknotes as shown below.

  1. The lost banknote is a part of it that does not exceed more than half of the banknote.
  2. Banknotes soiled with dust, fats, colors and oils.
  3. Banknotes containing adhesive tape.
  4. Scorched and buried banknotes.
  5. Defective banknotes.
  6. Two-part banknotes with different figures.

The papers that are not exchanged and rejected by the Central Bank to be received and called the rejected, which are withdrawn and executed by the bank without compensation of the owner, unless there is convincing evidence that the missing parts were completely destroyed and then decide to provide compensation in whole or in part These papers are:

  1. Papers that contain many writings and drawings and seals deliberately, which leads to the blurring of the features of the banknote.
  2. The paper is cut into more than (6) parts.
  3. If the coin loses more than (50%) of its surface or is distorted or perforated

Do not make up for lost or stolen coins or coins.

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4 hours ago, Theseus said:

I have seen and heard worse translations made by humans. I would rely more on a translation done by computer and have in various languages (Spanish, Russian, Ukrainian, Portuguese, Italian, Polish, and others). In almost all cases, the intended recipient had no idea a computer had translated the written composition but had responded as if a human spoke/wrote the correspondence. Most of this was done within a top global company (GE) in which I had to talk to people all over the world in order for them to be productive. There were some idiosyncrasies but the computer translation was far better than human translation. An interesting tidbit most translators who freelance use computer software to do their translations. People will be people and in a data-driven world, people, no matter where they are in the world, are still reluctant to place trust in computer-generated information. Trust but verify which is why I always asked for the original text along with the translation.

 

Theseus, you are a worldly and wise person.  Thank you for your input and educated comments.

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7 hours ago, Theseus said:

I have seen and heard worse translations made by humans. I would rely more on a translation done by computer and have in various languages (Spanish, Russian, Ukrainian, Portuguese, Italian, Polish, and others). In almost all cases, the intended recipient had no idea a computer had translated the written composition but had responded as if a human spoke/wrote the correspondence. Most of this was done within a top global company (GE) in which I had to talk to people all over the world in order for them to be productive. There were some idiosyncrasies but the computer translation was far better than human translation. An interesting tidbit most translators who freelance use computer software to do their translations. People will be people and in a data-driven world, people, no matter where they are in the world, are still reluctant to place trust in computer-generated information. Trust but verify which is why I always asked for the original text along with the translation.

Always appreciate your posts, Theseus.

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I like that they are getting more specific in what they will accept on a credit or exchange. Tells me there will be more at stake with every case and why would they expect this exchange to happen unless it is required on a timeline or has a monetary value that you must have all these lower denominations to do business as usual... Bring it on!

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13 hours ago, 3n1 said:

agree LB , when the articles came out about the shop owners and peeps doing commerce with no small groups they were referring to the current smalls 250 & up but hey i'm way past ready for something to change ... cheers 

Me too my friend, I'm way past ready to see the real market value of the dinar.... Go $1:1

 

13 hours ago, blueskyline said:

Good Evening Laidback . Sistani talked about notes a few days ago . Perhaps its time to touch them ? ! I want my RV too !

Agree my friend.... SIstani Knows it's time for real purchasing power.

 

13 hours ago, Floridian said:

 

I agree with you, Laid Back, about the small groups they are talking about being 250, 500 and 1,000 IQD notes.

However, at the current rate, these notes would be worth .20, .40 and .80

If they RV to 10 cents, the notes are worth $25, $50, $100

 

:crossedfingers:

Agree with you Floridian,  maybe the plan is to start at $0.10 per dinar and let it react to the forces of supply and demand.

 

Go RV ASAP.

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21 hours ago, yota691 said:

WOW!!! 

The central poses large amounts of small currency

   
 

 
01-4338.jpg


10/9/2018 12:00 am 

Confirmed its continuation by replacing the damaged amounts 
Baghdad / Sabah

The Central Bank of Iraq intends next month, to put large amounts of local currency, small groups, while continuing to receive the currency damaged by citizens and replace it 

New. 
The Governor of the Bank, Dr. Ali Alalak in a meeting with the "morning", will be published later:
"The Central Bank of Iraq, the development of a plan to compensate the market small groups of local currency, as will be next month large amounts of huge ones," noting that " Will meet the need of the local market for those categories  
of currency. " 

He added that "the bank continues to receive local currencies damaged by citizens and replace them with new currencies," revealing at the same time, "the existence of a specialized committee to examine the damaged papers to ensure the integrity of fraud  
and manipulation."

Yota, you are making my day. :bravo:

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On 8/19/2018 at 11:46 AM, blueskyline said:

http://www.iraqtradelinknews.com/2018/08/printing-iraqi-currency-to-replace.html......

SUNDAY, AUGUST 19, 2018

Printing Iraqi currency to replace the damaged

 
5:44 AM  ADMIN  

 

 
Baghdad/ Iraq TradeLink: Iraqi economic sources reported that the Central Bank of Iraq printed great
250%2Bdinars.jpg
quantities of small Iraqi currency to replace the damaged ones.
 
Iraq suffers lack of small currencies at the present time of 250, 500 and 100 dinars, due to the increase in damaged banknotes.
 
The lack of small currencies hindered the economic movement in daily dealing in the country, the sources added.
 

 

 
Posted in: Baghdad,Economy Thanks f26
 
 
 
 

Information / Special ...

The economic expert Majid al-Suri, on Saturday, the printing of the Central Bank of Iraq large amounts of Iraqi currency with small groups to pump it to the market and eliminate the current crisis and withdraw the damage.

"The Iraqi market is facing a problem in the small currencies of 250, 500 and 100 dinars because of the lack of printing and the large damage and not withdraw."

He added that "the Central Bank has printed large quantities recently of the Iraqi currency with small groups for the purpose of pumping to markets and pull the damage and eliminate the scarcity," noting that "the bank faces two problems in resolving the matter works to resolve the first of the   counting and sorting of currency printed and the second refusal of banks to receive damaged currencies For the purpose of withdrawing from the markets. "

He pointed out that "the bank is working to solve the problem of counting and sorting first and then go to pump and pull the damaged."

The Iraqi market is suffering from a large scarcity in the small currency categories, which affected the economic movement in daily transactions

The central poses large amounts of small currency

   
 

 
01-4338.jpg


10/9/2018 12:00 am 

Confirmed its continuation by replacing the damaged amounts 
Baghdad / Sabah

The Central Bank of Iraq intends next month, to put large amounts of local currency, small groups, while continuing to receive the currency damaged by citizens and replace it 

New. 
The Governor of the Bank, Dr. Ali Alalak in a meeting with the "morning", will be published later:
 "The Central Bank of Iraq, the development of a plan to compensate the market small groups of local currency, as will be next month large amounts of huge ones," noting that " Will meet the need of the local market for those categories  
of currency. " 

He added that "the bank continues to receive local currencies damaged by citizens and replace them with new currencies," revealing at the same time, "the existence of a specialized committee to examine the damaged papers to ensure the integrity of fraud  
and manipulation."

Hope nobody minds . I posted all 3 of these together for comparison . I also have the video Yota posted in the back of my mind speaking of the value of the Surrah ? and how it is used in reference to the 1 dinar note 

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The first two articles speak of pumping the market with large amounts of small currencies . The 3rd articles speaks of compensating (pumping ?) the market with small currencies as well . But it goes on further to say " as will be next month large amounts of huge ones,"..My first reading of this leads me to believe they are releasing large amounts of the Huge notes along with the Small notes . But I wonder ? With the reference to the (Surah ) and it being equal to 1/3 of their Koran along with the 1 dinar note . And its just a small thought . Could these Huge dinars be a new 1 Dinar note with a Huge value ? Much like the Surah that is equal to 1/3 of the Koran which has a Huge value ?

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Ok Guys her's the Bing Translation.

 

 

    
Central poses large amounts of small currency
    

 

10/9/2018 12:00 a.m. confirmed continued replacement of damaged amounts
Baghdad/Sabah
Next month, the central Bank of Iraq plans to raise large amounts of local currency, with small groups, while continuing to receive the damaged currency from its citizens and replace it with the new one.
The bank's governor, Dr. Ali al-Allaq, said in an extensive meeting with the  "Sabah ", will be published later: "The central Bank of Iraq, developing a court plan to compensate the market in small categories of local currency, as the next month will raise large quantities of them," noting that  "those quantities will meet the need of the local market For those categories of currency  ".
He added that "the bank continues to receive the local currencies damaged by the citizens and replace them in the new currencies," revealing at the same time, "the existence of a competent committee to inspect the damaged papers to ensure their safety from forgery and manipulation."

 

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3 hours ago, navira said:

Once these great quantities of lower denoms are released into the market, it wont be long for a new rate to kick in

DV, Navira,    I pray the lower denominations they speak of will be the Coins,  1, 5, 10, 20, etc. They are being very careful not to specify which lower notes they are referring.   Keeping the "FAITH"

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