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Iraq new 500-dinar note (B359a) confirmed Iraq new 250-dinar note (B358a) confirmed


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58 minutes ago, 6ly410 said:

Again.. lower notes are coming ... imo no more US dollar trading with Iran.... the initiative started...... worlwide ... globally..... digits being added .... I am done for now haha 

Go easy on the champagne tonight, we don’t need you waking up  with a headache 😀

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There are certainly a lot of great comments from critical thinkers in this thread - thanks to everyone who posted.    So, if I understand this article correctly, the 250 and 500 referenced i

https://www.banknotenews.com/files/15ef21d0fc3b0edac882d4484bab3860-4931.php   Iraq new 1,000-dinar note (B360a) confirmed 30 10, 2018 16:17 Category: Middle East

Could another reason for lower denominations be to cut down on currency smuggling?. Seems to have worked in the US or at least made it much more difficult for smuggling as the 1000 dollar notes were removed from circulation and made large amounts of dollars in cash much more bulky.

 

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2 hours ago, Floridian said:

Well, this has me thoroughly confused . Why issue new triple-zero notes if the plan is to drop the zeros?

Floridian, read my previous post, there are no 250, 500 Dinar notes on the streets. The cab drivers an vendors can not make change for the 10k, 25k Dinar notes people are paying with. 

These articles have been in the news for months, they are finally getting them issued. Nothing to get excited about here...

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Imagine having to transport large amounts in the lower denominations. You would have to forget about a truckload and find some rail cars. Would force large transactions to be done through electronic means through the banks where it can be tracked by the cbi.

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8 hours ago, Laid Back said:

If this article is true, and a new 500 & 250 IQD notes are coming out to the local market, it means the RV will take longer.

 

Why 500 & 250 IQD notes instead of 1-5-10-20-50-100 IQD notes?

 

Just my humble opinion.

What struck my curiosity was that Mexico has come out with a 200 Peso note. Which when exchanged has the value of  approx $10 USD. Maybe Iraq will open up the exchange rate at 10 to 1 USD? which would make our 25,000 IQD note worth about $2,500.00 USD. And so on with the 1,000, 500 and 250 IQD notes. Still a pretty good rate of return IMO for the time I have been in the game.

I recall that Breitling on a his blog once said that to be in this investment you should own at least 5 million IQD. Or go find something else to speculate on. He may be more right than he ever thought?

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1 minute ago, Botzwana said:

Being that I live in Mexico.   Um, no.  The 200 peso 13 years ago was twenty bucks.  NOW because the dollar got alot stronger, it is 20 to one.

True, But if I had a 200 Peso note. And I exchange it say at the airport. I would get $10 USD. So the same is true that we are exchanging a note that we bought at a discount here in the USA from a bank or exotic currency merchants. So our exchange will be realized at a much better rate of return than anyone who would take that same note aquired in Iraq and taken to the bank to exchange for USD in Iraq. They as citizens of Iraq will loose money every time. We are realizing a greater gain on exchange because we are outside of Iraq. We will win every time no matter what the exchange rate opens up at. Even if you live in Mexico!

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7 hours ago, DoD said:

Floridian, read my previous post, there are no 250, 500 Dinar notes on the streets. The cab drivers an vendors can not make change for the 10k, 25k Dinar notes people are paying with. 

These articles have been in the news for months, they are finally getting them issued. Nothing to get excited about here...

Comforting DoD

 

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9 hours ago, Mary B said:


Iraq new 500-dinar note (B353) confirmed
21 11, 2016 06:49
iraq_cbi_500_dinars_2015.00.00_b357a_pnl
iraq_cbi_500_dinars_2015.00.00_b357a_pnl

 

B353: Like B348, but with Kurdish text on back.
500 dinars, ٢٠١٣ - ١٤٣٥ (2013/AH1435). Like CBI B48, but new date, new signature (Abdul Basit Turki Saeed), and two intaglio circles at upper left front for the sight impaired. 12/07/ 2018 08:20 Category: Middle East
Like B347, but new date and printed name of governor, not signature.

 

 

https://www.banknotenews.com/files/category-middle-east.php

 

Links are finally working... 

Iraq new 500-dinar note (B359a) confirmed

07 12, 2018 08:20 Category: Middle East
Iraq_CBI_500_dinars_2018.00.00_B359a_PNLIraq_CBI_500_dinars_2018.00.00_B359a_PNL
Like B353, but new date and printed name of governor, not signature. 

Courtesy of Nurrulz Gustiputri.

Tags: Iraq

 

Iraq new 250-dinar note (B358a) confirmed

07 12, 2018 08:20 Category: Middle East
Iraq_CBI_250_dinars_2018.00.00_B358a_PNLIraq_CBI_250_dinars_2018.00.00_B358a_PNL
Like B347, but new date and printed name of governor, not signature. 

Courtesy of Nurrulz Gustiputri.
 
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10 hours ago, Laid Back said:

If this article is true, and a new 500 & 250 IQD notes are coming out to the local market, it means the RV will take longer.

 

Why 500 & 250 IQD notes instead of 1-5-10-20-50-100 IQD notes?

 

Just my humble opinion.

Exactly what I thought. Just new notes, not necessarily moving forward, etc. Lower denominations would make sense if they were indeed raising the value in terms of usage. 

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Seems like they are using the lower notes in place of, or like, fils. 500 dinar = .42, 250 dinar =.21.  Helps them make change.  Hmmmm. Could be awhile.  I need much lower notes to be in play before I get excited.  JMO.

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4 hours ago, DoD said:

Floridian, read my previous post, there are no 250, 500 Dinar notes on the streets. The cab drivers an vendors can not make change for the 10k, 25k Dinar notes people are paying with. 

These articles have been in the news for months, they are finally getting them issued. Nothing to get excited about here...

 

Thanks, DoD.  I didn’t realize that.

It’s disappointing.

 

 

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6 minutes ago, cranman said:

I need much lower notes to be in play before I get excited.  JMO.

exactly , when we see those ( below 250 ) the new rate will be active to use them so yea imo the 250 , 500 are to meet a current currency need ... tapping foot waiting

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20 minutes ago, Botzwana said:

I think when they release lower notes a rate change has to come immediately.  It would be too big a tell that they are going to revalue. 

Exactly I'm think true rate then lower demons...all in one fell swoop...but in that order lol

Edited by Officiallytook
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13 hours ago, Officiallytook said:

Kinda off topic but what you guys think about Trump, thinks they're gonna impeach em? I mean kind of would mess us over if it does happen...I'm inclined to believe 

It is off topic. But if you've ever heard Kim Clement Trump's not getting impeached. That's a prophets View

PS  don't watch CNN.

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12 hours ago, Floridian said:

Well, this has me thoroughly confused . Why issue new triple-zero notes if the plan is to drop the zeros?

Perhaps because its not what they say they are going to do as much as what they ACTUALLY do?

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2 hours ago, Botzwana said:

Question is....WERE the citizens being paid by the oil proceeds WHEN the value was over 3 bucks?  Was there an HCL for them back then?  If not then it really does not matter IMO..  Value was lost overnight and can be replaced over night regardless of an HCL.

 

Q1.) no payments to citizens from oil proceeds ...

Q2.) no hcl that was to be established post saddam liberation. ( enter corrupt officials from top to bottom ) it has never happened as planned to date ...

Q3) iqd value was in fact high officially but during the iran / iraq war , surplus state money was severely reduced to next to nothing causing the unofficial rate to be almost 2000 iqd to 1 usd , saddam invaded and stole kuwait's money in an attempt to revive iraqs economy history reads how that worked out and at that point thats where many began to watch or speculate in iqd...

 

here is some relative economic data from 1989 - 2003 if interested.. cheers dv

https://www.cia.gov/library/reports/general-reports-1/iraq_wmd_2004/chap2_annxD.html

Edited by 3n1
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4 hours ago, Botzwana said:

Question is....WERE the citizens being paid by the oil proceeds WHEN the value was over 3 bucks?  Was there an HCL for them back then?  If not then it really does not matter IMO..  Value was lost overnight and can be replaced over night regardless of an HCL.

That is a point that I have been trying to push. One day your are a millionaire then next your fighting for camel dong. The CBI has been pulling in a ton of the large notes. So this go around there may produce a few more millionaire, but is that a bad thing after 15+ years? 

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54 minutes ago, presence said:

There are certainly a lot of great comments from critical thinkers in this thread - thanks to everyone who posted. 

 

So, if I understand this article correctly, the 250 and 500 referenced in this article are new versions of currencies which have already been n existence. I couldn't tell for sure if the recent versions being replaced are both presently being used in the market. Regardless, the bottom line is that they (the old currency) )are presently being used minimally due to reasons of making change for higher valued currencies.

 

As some have pointed out, there may not be a lot to be excited about - at the moment - but in my view, this might be a good sign of what's to come, especially since the newer notes probably have more secure features which would help minimize fraud and money laundering so currencies are exchanged for lengthier periods of time.

 

The positive factual takeaway I get from this is, at least his article is not referring to the release of 100k notes or currencies of even greater amounts; which would certainly be less desirable.

 

I like the timeliness of this article when I combine it from

the news of late regarding the decimal places on the CBI website. The latter is a big deal no matter how you look at it. Combining the decimal points to the thousand's position, along with the re-release of the 250 and 500 gives me the impression that the 1's, 5's, 10's fils etc. are on their way - and hopefully soon.  

 

When I worked as a mutual fund accountant years ago, I was assigned  the task of calculating the NAV (net asset value) number for some of Aetna's domestic mutual funds. The  daily stress from the job felt equivalent to being pulled over by a cop - all day long. The pressure was due to the fact that our work had to be completed and ready to be published- by 5:40PM -every day - and the accuracy of  our NAV calculatin had to be with-in 1/2 cent. Any  error in the calculation   greater than that counted as a pricing error. To minimize the chance of error, a minimum or 32 excel spreadsheets were needed to calculate an accurate number for the $100 million  -$100 billion plus-sized mutual funds.

 

The important part of all of this, is that our calculations went to a minimum of 5 decimal places - and the accuracy of all 5 decimal places had to be checked off and verified by 2 managers

throughout the day - daily  -  before the NAV was submitted to publication in newspapers around the world.

 

i suspect that there is a lot more going on behind the scenes with the combination of the 3 decimal places and the new.currncies mentioned above - and I am more than hopeful - that we may see this go international this month; if for nothing else,  completing year end accounting analysis would be a lot simpler twhen compared to analyzing a new rate for a lengthier period of time (such as first quarter.) 

 

:twothumbs:

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10 hours ago, 3n1 said:

exactly , when we see those ( below 250 ) the new rate will be active to use them so yea imo the 250 , 500 are to meet a current currency need ... tapping foot waiting

I really don't see why people are getting so excited about these denominations. Printing these denominations just tells me it's going to be a longer wait. Why not just print the lower denoms and get it over with. Why muck around with that 250 and the 500. Thanks in advance.

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