Barzani meets with Mahdi re: HCL (?)

[ChuckFinley]

Things are looking pretty good for us.  

[climber7]

6 hours ago, GreedyDinar07 said:

I hope Iraq is next with a 1 to 1...what do you guys think?

Crowding in front of banks in Zimbabwe as the new currency begins trading

Crowding in front of banks in Zimbabwe as the new currency begins trading

22 February 2019 03:39 PM

Mubasher: Zimbabwean citizens organized queues in front of banks in the capital Harare on Friday, coinciding with the start of the central bank operations of the new currency of the country.

The Reserve Bank of Zimbabwe announced on Wednesday that it would break the link between its currency, which is called “Bond Note” and the US dollar, which was exchanged at the exchange rate of 1 dollar per poundnote.

mubasher.info

  

 

So does this mean if I had bought some ZIM years ago, I would be wealthy now? Like what we're waiting for with dinar? 

[GregHi]

2 hours ago, climber7 said:

 

So does this mean if I had bought some ZIM years ago, I would be wealthy now? Like what we're waiting for with dinar? 

Climber, just my opinion. Somehow I have one of those 100 Trillion dollar notes also. Looks like they are simply introducing a NEW currency with a value against the dollar. To me it sounds like there is no change in the value compared to the dollar with the OLD currency like the 100 Trillion dollar note that I have.. but I may be completely wrong, and I hope I am..

[3n1]

2 hours ago, climber7 said:

 

So does this mean if I had bought some ZIM years ago, I would be wealthy now? Like what we're waiting for with dinar? 

 

in 2015 the zimbabwe central bank allowed their citizens to trade in a 100 Trillion note for 40 usa cents the country has been a mess as everyone knows they tried using the usd only till it dried up now the new RGTS currency , in country you can exchange the usd for the new RGTS currency, i may be wrong but i dont think u can exchange the old zim dollar at all now ... cheers climber Prov. 3:6

[blueskyline]

Zimbabwe floats exchange rate, readies up new currency

ECONOMY / 21 FEBRUARY 2019, 2:24PM / TAWANDA KAROMBO

 

Reserve Bank of Zimbabwe governor, John Mangudya, says the government has had to do away with the 1:1 valuation for bond notes against the US dollar. Photo: Reuters

HARARE – Zimbabwe has floated its quasi-bond note currency, effectively devaluing the unit in what experts say is in preparation of a local currency through slow erosion of bloated bank balances that have driven Zimbabwe’s official inflation to above 50 percent.

Reserve Bank of Zimbabwe governor, John Mangudya, on Wednesday said in a 2019 Monetary Policy Statement that the government has had to do away with the 1:1 valuation for bond notes against the US dollar. After amalgamating the bond notes and electronic bank balances that also include mobile money, Zimbabwe has now denominated its quasi local units as RTGS dollars.

 

Economics expert, Tapiwa Mashakada, who is also secretary for economics in Zimbabwe’s main opposition, MDC Alliance, said the monetary policy had “de-dollarised cleverly” with the greenback, which has been in use as legal tender in Zimbabwe since 2009, becoming a “foreign currency” unit.

“Zimbabwe now has a sovereign currency called RTGS dollars which is a euphemism for Zim Dollars. The domestic currency has bounced back,” said Mashakada in response after Mangudya’s monetary policy.

The Zimbabwean central bank chief said “after taking account of the implications and putting in place safeguards to maintain stability in the fares market, the Bank is, with immediate effect, establishing an inter-bank foreign exchange market in Zimbabwe to formalise the trading of RTGS balances and bond notes with US dollars” and other currencies.

This will be undertaken on a willing-buyer, willing-seller basis through banks and bureaus de changes.

The central bank will now authorise bureau de changes to purchase foreign currency without limits but shall be limited to sell foreign currency for small transactions up to a maximum aggregate daily limit of US$10 000 (R139 000) per bureau de change.

“This is essential in order to bring sanity in the foreign currency market whilst at the same time promoting exports, diaspora remittances and investments for the good of our national economy,” added Mangudya.

Other experts said the implication of this is that the bond notes have been devalued and will now trade at the same parallel market rate which is between 1:3 and 1:4 against the US dollar.

The government, which is pushing austerity measures, is hoping to contain rampaging inflation by floating the bond unit. Finance Minister Mthuli Ncube has said that Zimbabwe, which frequently battles to settle crucial forex obligations, will introduce its own currency – which was abandoned in 2009 after record hyper-inflation –  later this year.

https://www.iol.co.za/business-report/economy/zimbabwe-floats-exchange-rate-readies-up-new-currency-19425761

[justchecking123]

Remember when this was an HCL pinned thread?

[Jaygo]

10 minutes ago, justchecking123 said:

Remember when this was an HCL pinned thread?

😂

[OMEGA3]

 The Zimbabwe dollar no longer to exist .   If you have any you can use it for wallpaper or frame it .

Use of the Zimbabwean dollar as an official currency was effectively abandoned on 12 April 2009. It was demonetised in 2015, with outstanding accounts able to be reimbursed until April 30, 2016.^[5][6] In place of the Zimbabwean dollar, currencies including the South African rand, Botswana pula, pound sterling, Indian rupee, euro, Japanese yen, Australian dollar, Chinese yuan, and the United States dollar are now regularly used.^[7][8]  

[navira]

Omega3, read what BL posted

[82Corp.]

On 2/23/2019 at 2:42 PM, Jaygo said:

😂

Yes, it gets frustrating how topics spin off into la la land....

[jcfrag]

On 2/23/2019 at 3:32 PM, justchecking123 said:

Remember when this was an HCL pinned thread?

Oh yeah! I remember now!!! 

Barzani meets with Mahdi re: HCL (?)

😂

[6ly410]

 

[10 YEARS LATER]

Bureaucratic Lip Service and gallons of “ positive “ verbal diarrhea.

 

I’m not knocking the posts by no means... thanx to the folks for bringing this over.  

 

 

[6ly410]

Final touch ups before the HCl is announced  imo this  is getting a lot of attention... cheers 

Edited February 25, 2019 by 6ly410

[Pitcher]

7 minutes ago, 10 YEARS LATER said:

verbal diarrhea.

 

10 years, Funny and true

[jcfrag]

The Kurds were the security before ISIS hit. Perhaps with both Iraq and the Kurds working together they can cover this expanse of real estate to keep it secured this time around...

 

[6ly410]

[6ly410]

nvm

Edited February 26, 2019 by 6ly410

[Floridian]

15 minutes ago, 6ly410 said:

nvm

 

You write nvm a lot.  

What does it mean?

 

[6ly410]

Nevermind

Edited February 26, 2019 by 6ly410

[DinarThug]

3 minutes ago, 6ly410 said:

Nevermind

 

Then Why Did U Bother Posting It ...

 

     

[6ly410]

Haha 

[pokerplayer]

On 2/22/2019 at 4:59 PM, navira said:

HARARE, Feb 22 (Reuters) - Zimbabwe’s banks on Friday started trading a new currency with corporate clients and individuals, although interbank trading won’t BEGIN IN UNTIL MONDAY, banking source said.

Zimbabwe’s central bank announced on Wednesday it would scrap the official 1:1 peg between its quasi-currency bond note and the U.S. dollar, launching a new currency known as RTGS dollars.

The central bank began selling U.S. dollars to banks on Friday morning at a rate of 2.5 RTGS to the greenback, its gov

 

Did you ever figure out if your zims made you rich or not ? I am quite skeptical about it all but if you make out like a bandit in this, well good for you.

 

   pp

[climber7]

1 hour ago, pokerplayer said:

 

Did you ever figure out if your zims made you rich or not ? I am quite skeptical about it all but if you make out like a bandit in this, well good for you.

 

   pp

 

I'm curious too 

[navira]

PP, the rate at which the banks  give to the new zimbabwe currency is way lower than that given from Zimbabwe bank...but the banks have not given notice to the public for exchange yet. Iam still on waiting on when i can exchange mine(mine is the old zimbabwe dollars)