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Central Bank Basra branch introduces a window to provide small cash categories


yota691
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“The Central Bank of Iraq (CBE) launched a branch of the Basra branch on Thursday to develop a window from the issue division to provide small groups of 250, 500 and 1,000 dinars.“

 

Why 250, 500 and 1000? ...... Why not Lower denomination notes.?

 

Just for the purpose of facilitating the deal between a single trader And the citizen.

 

They can do that with lower denomination notes too.

 

This is just my opinion like it or not.... This article make believe the CBI and the economy are not ready for lower denomination notes yet.

 

Our wait continues.

 

 

Edited by Laid Back
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1 hour ago, Laid Back said:

“The Central Bank of Iraq (CBE) launched a branch of the Basra branch on Thursday to develop a window from the issue division to provide small groups of 250, 500 and 1,000 dinars.“

 

Why 250, 500 and 1000? ...... Why not Lower denomination notes.?

 

Just for the purpose of facilitating the deal between a single trader And the citizen.

 

They can do that with lower denomination notes too.

 

This is just my opinion like it or not.... This article make believe the CBI and the economy are not ready for lower denomination notes yet.

 

Our wait continues.

 

 

As heart breaking as that sounds. You are correct!  The lower the note the better for us....  if they are still using the same denoms then nothing is changing at the moment.  

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1 hour ago, Laid Back said:

“The Central Bank of Iraq (CBE) launched a branch of the Basra branch on Thursday to develop a window from the issue division to provide small groups of 250, 500 and 1,000 dinars.“

 

Why 250, 500 and 1000? ...... Why not Lower denomination notes.?

 

Just for the purpose of facilitating the deal between a single trader And the citizen.

 

They can do that with lower denomination notes too.

 

This is just my opinion like it or not.... This article make believe the CBI and the economy are not ready for lower denomination notes yet.

 

Our wait continues.

 

 

It could be that.  Now we have 25 cents ( 250 )  50 cents ( 500 ) and a buck (1000) 

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As an artist , I am an intuitive thinker , not schooled in finance or business . I;ve always felt that the rv would happen ,it had to . Fifteen years after investing, I still feel strongly that this rv will pop. To those who feel  negatively about this , go away ,sell your dinar , and take your poopy thunder cloud with you .

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9 minutes ago, dinarham said:

As an artist , I am an intuitive thinker , not schooled in finance or business . I;ve always felt that the rv would happen ,it had to . Fifteen years after investing, I still feel strongly that this rv will pop. To those who feel  negatively about this , go away ,sell your dinar , and take your poopy thunder cloud with you .

No wayyyy¡¡..I don't feel negative....I don't go away¡..I don't sell my beloved dinars...and yes sir...I take my poopy thunder¡¡¡  ...LOL ¡¡¡¡¡ :)

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13 minutes ago, dinarham said:

As an artist , I am an intuitive thinker , not schooled in finance or business . I;ve always felt that the rv would happen ,it had to . Fifteen years after investing, I still feel strongly that this rv will pop. To those who feel  negatively about this , go away ,sell your dinar , and take your poopy thunder cloud with you .

Hear hear! I'm with you on this. What more, lately I've felt it's coming in like a train we've been waiting for forever to pull into the station. So what if it's a decade or so late??!

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2 hours ago, Desertmedic2009 said:

As heart breaking as that sounds. You are correct!  The lower the note the better for us....  if they are still using the same denoms then nothing is changing at the moment.  

I agree with your assessment my friend. Thanks for your input.!

 

2 hours ago, Engine1 said:

It could be that.  Now we have 25 cents ( 250 )  50 cents ( 500 ) and a buck (1000) 

That could be a possibility my friend.

I thought they will use coins of 25 cents and 50 cents, like we do here in the US

Thanks for your input Engine1.

 

Go RV sooner than later 

Go $1:1

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@dinarham  Why do people always feel the need to tell others to go away because they simply say that this may not happen for awhile yet? Is it appropriate for me to say "please quit turning every article into a sign that it is inevitable that the R V will happen soon" ?  Or how about I say "you're hopium that this is going to pop soon is annoying as you ,as well as others, have been wrong for the last few years and I'm tired of hearing it"?

 

Look, most lopsters are in the lopster tank.  The ones who say it may be awhile and are entitle to state their opinions JUST LIKE YOU.  You can either suck it up and read their statements and move on, not read their statements or block them and never see their statements.  You have choices.

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@Botzwana Where has anyone said they would rather wait 5 more years?  Saying it may be awhile is not a wish we want to come true by any means. If you're going to make  snarky remarks you better come correct.  Otherwise, IMO, you are just inviting/ inciting responses just so you can argue.  

Edited by cranman
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I clicked on the original link and google translated it.  It said the purpose of doing this is to "facilitate the sale and purchase between citizens and owners of shops".  So, while the 250, 500 and 1000 dinar are worth only about $.22, $.45 and $.86 respectively, one can see that a shopkeeper would need to make change in those small amounts - just like shopkeepers all over the world need to make change in amounts under $1. 

 

BUT, the thing is (unless this has changed recently), I believe that inside of Iraq - they transact business in the USD and not the IQD because the dinar has so little value that they'd have to carry around too many IQD to regularly use it there.  So the fact that the CBI feels it needs to start providing these smaller notes (or even coins, if that's the case - though the picture in the article looked to me like it might be a stack of 500 dinar notes), means that Iraq is going to de-dollarize.  As long as I've been in this (since 2011), I've always heard that for Iraq to de-dollarize and get the people to use the IQD, they have to add value to it.  If the CBI thinks shopkeepers are going to need these lower denoms soon, I think implies the RV is near.    Thanks for sharing this PP!

 

Central Bank Basra branch introduces a window to provide small cash categories

 

And just for fun, there's another thread where someone stated that 18 out of the 22 times that Iraq RVd their currency, it happened on April 30.  I don't know how to verify that, but wouldn't that be nice!!!

Edited by KristiD
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1 minute ago, KristiD said:

I clicked on the original link and google translated it.  It said the purpose of doing this is to "facilitate the sale and purchase between citizens and owners of shops".  So, while the 250, 500 and 1000 dinar are worth only about $.22, $.45 and $.86 respectively, one can see that a shopkeeper would need to make change in those small amounts - just like shopkeepers all over the world need to make change in amounts under $1. 

 

BUT, the thing is (unless this has changed recently), I believe that inside of Iraq - they transact business in the USD and not the IQD because the dinar has so little value that they'd have to carry around too many IQD to regularly use it there.  So the fact that the CBI feels it needs to start providing these smaller notes (or even coins, if that's the case - though the picture in the article looked to me like it might be a stack of 500 dinar notes), means that Iraq is going to de-dollarize.  As long as I've been in this (since 2011), I've always heard that for Iraq to de-dollarize and get the people to use the IQD, they have to add value to it.  If the CBI thinks shopkeepers are going to need these lower denoms soon, I think implies the RV is near.    Thanks for sharing this PP!

 

Central Bank Basra branch introduces a window to provide small cash categories

 

And just for fun, there's another thread where someone stated that 18 out of the 22 times that Iraq RVd their currency, it happened on April 30.  Wouldn't that be nice!!!

Good theory as any!

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for a good reason bro... why wouldn’t anyone pop the champagne right now? If you haven’t noticed Iraq is setting themselves up for a big breakthrough... look at all the trade deals and agreements Iraq is signing up... momentum is building between the Kurds and Baghdad... naysayers can say what they want ... Iraq is moving let’s go IQD 

Edited by 6ly410
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"The Central Bank of Iraq (CBE) launched a branch of the Basra branch on Thursday to develop a window from the issue division to provide small groups of 250, 500 and 1,000 dinars.“

 

So it could be said, this might be our "open window" to RV!

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