Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

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


Recommended Posts

7 minutes ago, jcfrag said:

Those nutty yahoos could actually start reeling in a lot of these “uncirculated” notes just by jumping the rate up to .10.  Pretty sure there is a boatload of us that would abandon this Iraqi ship in a heartbeat if they would just do something like that!  I do not understand what good it would do these guys if they wait even another year to return to their “former glory. Seems like there has never been more at stake for them to act now.... 

 

Too rght . . . I get the impression they don’t know or care because it’s just too much fun stealing wealth and using this government thing as a smoke screen. 

I don’t know what to think anymore-this is a joke, all of it. They’re so utterly inept and arguing seems to be the only thing they’re really good at. Getting things done just doesn’t seem to matter- to some, yes: but not enough. 

 

Of course the CBI keeps moving right along.

 

Just when you think they’ve hit the Wall of Stupid, they crash through it and reveal yet another Wall of Stupid they can’t help but aim straight for.

 

It must be a real nightmare living like this for the Iraqi folks. They see massive corruption with an iron grip around the the throat of the country and a castrated government.

  • Thanks 1
  • Upvote 10
Link to post
Share on other sites
  • Replies 594
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

"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 acc

Damaged currency causes great suffering and embarrassment to citizens        

This is really getting intetesting as they continue to print more new notes especially smaller denoms...i think we will not make it to next month for the CBI to offer new rate for iqd

Posted Images

We have Sadr and Abadi together now who should have already kicked arse and set it up to their liking. Obviously Iran Maliki, Ameri, Solenini, and the KDP will forever control these puppets. Maliki destroyed the Iraqi Army, setting them up to rely heavily on Iranian militias. Guess those dumb bunnies get what they deserve.... They couldn’t even war with Iran today as Irsn truly controls them. 

  • Confused 1
Link to post
Share on other sites
29 minutes ago, 10 YEARS LATER said:

I get the impression they don’t know or care because it’s just too much fun stealing wealth and using this government thing as a smoke screen

 I agree. If and when they become a world recognized currency. The whole world will be watching and want to know where the money is going.  Not that they won't be able to steal, it will just be a little harder when the whole world is watching. 

  • Like 1
Link to post
Share on other sites
On 9/22/2018 at 11:35 PM, new york kevin said:

 

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

 

Mom said to me, “ I’m sick”   Then I said “and tired”,

worst beating I ever got.

Link to post
Share on other sites
7 hours ago, FROSTYJACK said:

 I agree. If and when they become a world recognized currency. The whole world will be watching and want to know where the money is going.  Not that they won't be able to steal, it will just be a little harder when the whole world is watching. 

 

Im with ya on this FJ.

 

Im sure that if the US citizen were " Actually " made aware of just how many Billions of $$$$ these Iraqis have pocketed; I suspect there would be a rally cry to go back into Iraq, Guns a Blazing and grab everyone of those corrupt politicians, grab 'em by the ankles, turn 'em upside down and shake every last penny outta their worthless hides.

 

We'd have to add annexes to Gitmo to handle the overflow.

  • Like 1
  • Upvote 2
Link to post
Share on other sites
1 hour ago, 10 YEARS LATER said:

 

Im with ya on this FJ.

 

Im sure that if the US citizen were " Actually " made aware of just how many Billions of $$$$ these Iraqis have pocketed; I suspect there would be a rally cry to go back into Iraq, Guns a Blazing and grab everyone of those corrupt politicians, grab 'em by the ankles, turn 'em upside down and shake every last penny outta their worthless hides.

 

We'd have to add annexes to Gitmo to handle the overflow.

It's got to be in the trillions by now not billions obscounded. I'm thinking 80% of all Iraq money has been taken by the Iraq polititions. 

  • Thanks 1
Link to post
Share on other sites
8 hours ago, alreis said:

 

Mom said to me, “ I’m sick”   Then I said “and tired”,

worst beating I ever got.

Well it sounds like you helped her get over her feeling sick. Perhaps she appreciates the effort now. A respectful lol .

Link to post
Share on other sites

Economist: The authenticity of the existence of unknown parties behind the crisis of small currency

maxresdefault-500x282.jpg

BAGHDAD - The economic expert Hammam al-Shamaa on Wednesday denied reports by some media about the existence of unknown parties buying 100,000 dinars from small cash categories at 110,000 dinars to weaken the value of the Iraqi currency and limit the circulation of large currency Instead, saying, "It's not that picture and the small currency crisis is a temporary situation" as described.

 

"The scarcity of small groups of the Iraqi currency in the local market is a temporary situation because the central bank and once it starts pumping in the markets gradually ends the crisis," he said, pointing out that the small number of small groups due to the frequent circulation in the markets and the health of the presence of parties behind the scarcity and I think The crisis will end in two weeks after pumping again. " Finished 

https://www.iraqpressagency.com/?p=286661

 

  • Thanks 7
  • Upvote 1
Link to post
Share on other sites
5 hours ago, Butifldrm said:

Economist: The authenticity of the existence of unknown parties behind the crisis of small currency

maxresdefault-500x282.jpg

BAGHDAD - The economic expert Hammam al-Shamaa on Wednesday denied reports by some media about the existence of unknown parties buying 100,000 dinars from small cash categories at 110,000 dinars to weaken the value of the Iraqi currency and limit the circulation of large currency Instead, saying, "It's not that picture and the small currency crisis is a temporary situation" as described.

 

"The scarcity of small groups of the Iraqi currency in the local market is a temporary situation because the central bank and once it starts pumping in the markets gradually ends the crisis," he said, pointing out that the small number of small groups due to the frequent circulation in the markets and the health of the presence of parties behind the scarcity and I think The crisis will end in two weeks after pumping again. " Finished  

https://www.iraqpressagency.com/?p=286661

 

:bump:

  • Upvote 2
Link to post
Share on other sites
2 hours ago, 6ly410 said:

The scarcity of small groups of the Iraqi currency in the local market is a temporary situation because the central bank and once it starts pumping in the markets gradually ends the crisis," he said, pointing out that the small number of small groups due to the frequent circulation in the markets and the health of the presence of parties behind the scarcity and I think The crisis will end in two weeks after pumping again. " Finished  

 

 

not positive but this clearly speaks imo about replacing the worn currency and its scarcity from diminished numbers from not being fit for circulation ... guess we'll see if they " pump " more of the same currency ... we wait  

Edited by 3n1
  • Thanks 2
  • Upvote 2
Link to post
Share on other sites

 decline in the exchange rate of the currencies of the neighboring countries increases the influx of Iraqis for religious, medical and recreational tourism due to the strength of the dinar denominated in the US dollar and the weak currencies of these countries, which means increasing the purchasing power of the Iraqi dinar in those countries.

 

This is going to drive the iqd rate up higher in value because of the high demand for it. Wanna see the rv first before the introduction of lower denoms and  all the dollars collected.Cheers to every dver.

  •  
  • Thanks 1
  • Upvote 4
Link to post
Share on other sites
Just now, navira said:

 decline in the exchange rate of the currencies of the neighboring countries increases the influx of Iraqis for religious, medical and recreational tourism due to the strength of the dinar denominated in the US dollar and the weak currencies of these countries, which means increasing the purchasing power of the Iraqi dinar in those countries.

 

This is going to drive the iqd rate up higher in value because of the high demand for it. Wanna see the rv first before the introduction of lower denoms and  all the dollars collected.Cheers to every dver.

  •  

cheers buddy

  • Thanks 1
Link to post
Share on other sites

 https://www.thebaghdadpost.com/ar/Story/122226/مصادر-استخباراتية-جهات-مجهولة-وراء-أزمة-العملات-الصغيرة-والبنك-المركزي-يكشف-الحقيقة

 unknown parties behind the crisis of small currencies and the Central Bank reveals the truth

 26th September, 2018

Intelligence sources revealed on Wednesday unknown sources accused of being behind the "crisis" of small monetary groups "Fakkah."

She stressed that these parties are buying the amount of 100 thousand dinars from the small cash categories at 110 thousand dinars, which is denied by an economist, stressing that the Central Bank of Iraq will solve the "crisis" during the next two weeks.

Since the beginning of this year, the local market has witnessed a suffocating crisis in the availability of small denominations of coins (1000 dinars, 500 dinars, 250 dinars), until the price of one hundred thousand dinars of small currencies worth 110 thousand dinars. 

Intelligence sources said that "unknown and unknown bodies, whether internal or external, are behind the scarcity of small cash groups from the local market." 

"Since the first half of this year we have observed a new situation in the Iraqi market, the purchase of one hundred thousand dinars of small cash categories of 110 thousand dinars in the categories of more than five thousand dinars and above." 

The sources attributed this to "an attempt to reduce the value of the Iraqi dinar against foreign currencies, so that whenever the small groups disappeared, dealing with the higher categories, and thus become the last categories is the currency traded in the market."

However, economic expert Hammam al-Shamma said that it is not so and what is happening now is a "temporary situation." 

He said that "the scarcity of small groups of the Iraqi currency in the market is a temporary situation because the central bank cut large amounts of them and once it starts pumping in the markets gradually ending the crisis." 

"The phenomenon of small groups is small because of the frequent circulation and need by small sellers, so they are sold at a price higher than their relative value and when the market is available, the crisis ends." 

Al-Shamaa denied that there are "parties behind the crisis of small cash groups," adding that "the crisis will end within two weeks after the Central Bank pumped quantities of small groups."

Drivers of public transport, shop owners and markets told Al-Ghad Press that they are facing a "real crisis" in providing small cash groups and are often embarrassed both by their customers and public transport drivers, who said the crisis affected their daily income. 

A number of the drivers of the medium transport buses (Koster) and small (Kia), some of them buy the 25 thousand dinars of small groups at a price of 27500 dinars. 

"We are facing a big problem with small currencies, but they are concentrated in the category of 500 dinars. Most of the passengers pay 1,000 dinars and they have 500 dinars left. We have the right to repay them, but from where we do not exist in the market, we have to pay them back, 1000 dinars) some of them do not take it and few take it, but the result both of us damaged, passengers pay 1000 dinars twice the fare, and the driver waives his wages

11201617111026323418079.jpg

Edited by 6ly410
  • Thanks 2
  • Upvote 5
Link to post
Share on other sites
  • yota691 changed the title to Economist: The authenticity of the existence of unknown parties behind the crisis of small currency
 
11:38
Last updated
The time now is 11:49 AM
2274
Watch
0
 
 

BAGHDAD (Reuters) - 

Intelligence sources on Wednesday accused unknown parties of being behind the "crisis" of small cash groups, stressing that these parties are buying the amount of 100 thousand dinars from the small cash categories at a price of 110 thousand dinars, which is denied by an economist. The Central Bank of Iraq will solve the "crisis" during the next two weeks.


Since the beginning of this year, the local market has witnessed a suffocating crisis in the availability of small denominations of coins (1000 dinars, 500 dinars, 250 dinars), until the price of one hundred thousand dinars of small currencies worth 110 thousand dinars. 

The intelligence sources told Al-Ghad Press that "unknown and unknown bodies, whether internal or external, are behind the scarcity of small cash groups from the local market." 

"Since the first half of this year we have observed a new situation in the Iraqi market, the purchase of one hundred thousand dinars of small cash categories of 110 thousand dinars in the categories of more than five thousand dinars and above." 

The sources attributed this to "an attempt to reduce the value of the Iraqi dinar against foreign currencies, so that whenever the small groups disappeared, dealing with the higher categories, and thus become the last categories is the currency traded in the market."

However, economic expert Hammam al-Shamma told Al-Ghad Press that it was not so and what is happening now is a "temporary situation." 

He said that "the scarcity of small groups of the Iraqi currency in the market is a temporary situation because the central bank cut large amounts of them and once it starts pumping in the markets gradually ending the crisis." 

"The phenomenon of small groups is small because of the frequent circulation and need by small sellers, so they are sold at a price higher than their relative value and when the market is available, the crisis ends." 

Al-Shamaa denied that there are "parties behind the crisis of small cash groups," adding that "the crisis will end within two weeks after the Central Bank pumped quantities of small groups."

Drivers of public transport, shop owners and markets told Al-Ghad Press that they are facing a "real crisis" in providing small cash groups and are often embarrassed both by their customers and public transport drivers, who said the crisis affected their daily income. 

A number of the drivers of the medium transport buses (Koster) and small (Kia), some of them buy the 25 thousand dinars of small groups at a price of 27500 dinars. 

"We are facing a big problem with small currencies, but they are concentrated in the category of 500 dinars. Most of the passengers pay 1,000 dinars and they have 500 dinars left. We have the right to repay them, but from where we do not exist in the market, we have to pay them back, 1000 dinars) some of them do not take it and few take it, but the result both of us damaged, passengers pay 1000 dinars twice the fare, and the driver waives his wages.

  • Thanks 1
  • Upvote 6
Link to post
Share on other sites
26 minutes ago, screwball said:

Not long if they stick to the timeframe of two weeks we shall see what happens

 

exactly screwball , 2 weeks may equate to " in the near future " in that huge iraqi sand dial  ....

like  ur moniker btw but not sure if that's the baseball pitch or a eccentric person  .. we wait

  • Upvote 4
Link to post
Share on other sites
21 hours ago, normala rashid said:

Iraq just need trade in global is enough to get everything to growth and also calculations 

Newsflash...Iraq already trades globally. 

 

Exports
In 2016 Iraq exported $44.6B, making it the 47th largest exporter in the world. During the last five years the exports of Iraq have decreased at an annualized rate of -8%, from $66.9B in 2011 to $44.6B in 2016. The most recent exports are led by Crude Petroleum which represent 93.2% of the total exports of Iraq, followed by Gold, which account for 5.43%.

 

Iraq is the 47th largest export economy in the world. In 2016, Iraq exported $44.6B and imported $33B, resulting in a positive trade balance of $11.5B. In 2016 the GDP of Iraq was $171B and its GDP per capita was $17.3k.

 

The top exports of Iraq are Crude Petroleum ($41.5B), Gold ($2.42B), Refined Petroleum ($327M), Tropical Fruits ($114M) and Recovered Paper ($17.5M), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Jewellery ($3.18B), Refined Petroleum ($942M), Cars ($679M), Packaged Medicaments ($672M) and Broadcasting Equipment ($624M).

 

The top export destinations of Iraq are China ($9.5B), India ($9B), the United States ($5.6B), South Korea ($4.49B) and Italy ($2.95B). The top import origins are Turkey ($7.63B), China ($7.55B), the United Arab Emirates ($5.35B), South Korea ($1.44B) and the United States ($1.18B).

Edited by Theseus
  • Like 1
  • Thanks 3
  • Upvote 1
Link to post
Share on other sites
  • yota691 changed the title to The central bank issues a decision to cover the market need of small monetary categories
  • yota691 locked this topic
Guest
This topic is now closed to further replies.
  • Recently Browsing   0 members

    No registered users viewing this page.




  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.