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Parliamentary Finance intends to reintroduce the coin ... Another proposal to delete the zeros

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Talk about re-work coin and delete the zeros from the paper

19/08/2019

Talk about re-work coin and delete the zeros from the paper

 

A member of the Parliamentary Finance Committee revealed that there is a tendency to reintroduce the coin that has been used for decades in the country, while another member of the Committee proposed to pre-empt the coining process by “deleting zeros” from the current currencies so that there would be value for the small cash classes.

 

The committee member, MP Hanin al-Qadu, that "during meetings and discussions with officials at the Central Bank stressed the need to re-work coins that were used in Iraq during the past decades, rather than paper that is damaged and printed in large quantities again."

 

He explained, "The use of metal categories and their descent for trading gives a notional value of the currency," noting that "a number of neighboring countries (exchange rates are very high against the dollar) and yet we find that it has a coin in order to preserve the currency and not need to request more papers Cash, especially in small categories. "

 

He expressed surprise at the "policy of the Central Bank, which does not favor the introduction of coins for circulation in the Iraqi market."

 

The Central Bank of Iraq announced in April 2005 to offer coins of denominations of 25, 50 and 100 dinars for circulation for the first time after it was canceled by the regime of Saddam Hussein after the Gulf War in 1991.

 

The Iraqi currency was canceled in 1991 when the international economic embargo on the country to increase the rate of inflation in Iraq by 1000%, and the result of the situation under the economic siege and a significant rise in prices led to the destruction of the value of the Iraqi currency and reaching a very low and severe exchange rate , Which made the coin and the few currency denominations without value.

 

It is noteworthy that the Iraqi dinar, which was equal to 3.22 dollars before the occupation of the former Iraqi regime of Kuwait in 1990, its value fell to one dollar equivalent to three thousand dinars by 1996.

 

Another member of Parliamentary Finance said, "The cost of a coin is more than paper money, and it is more difficult to carry it on the citizen." 

 

MP Ahmed al-Saffar said that "inflation in the economy prevents the minting of coins and make them circulate among citizens," suggesting that "there is a step to delete the zeros before the coinage process to be a value for small groups to large." 

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image.php?token=1f7450b8e6b255c79f55929d9245f267&size=

 


 

19-08-2019 10:26 AM 
Number of Views: 115

 

Orbit Agency -

Baghdad

The parliamentary Finance Committee, on Monday, the existence of a proposal to reintroduce the currency that was used in the country during the past decades.

The committee member, Hanin al-Qadu, said in a statement continued (orbit), that 'during meetings and discussions with central bank officials we stressed the need to re-work coins that were used in the country during the past decades instead of paper that is damaged and reprinted in large quantities '.

He added, 'the use of metal categories and their descent for trading gives a notional value of the currency as a number of neighboring countries exchange rates are very high against the dollar and yet we find that it has a coin in order to preserve the currency and not need to request more banknotes, especially small value '.

Al-Qadu expressed surprise at the 'Central Bank policy that does not favor the introduction of coins for circulation in the Iraqi market'.

 

 

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Kalkamsh Press / Baghdad

The parliamentary Finance Committee, on Monday, the existence of a trend to re-work in the coin, noting its importance in the introduction of a notional value of the currency.

The committee member Hanin al-Qadu, in a press statement followed by "Kalakamsh Press" that "the Committee and through meetings and discussions with officials in the Central Bank stressed the need to re-work coins that were used in Iraq during the past decades, instead of paper that is damaged and printed in quantities Great again. ”

He pointed out that "the use of metal categories and their descent for trading gives a notional value of the currency," noting that "a lot of countries that are experiencing high exchange rate against the dollar is still dealing with metal categories in order to preserve the currency."

He expressed surprise at the "policy of the Central Bank, which does not favor the introduction of coins for circulation in the Iraqi market."

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zul excellent compilation recap , heres hoping..... all the best

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On 8/19/2019 at 11:58 PM, zul said:

Footnotes: The dinar we hold was introduced (officially) on Oct.15, 2003, fully implemented Jan 2004.

 

Interesting ...

So they could officially introduce a new dinar sometime between now and the middle of October and have the new rate fully implemented in January 2020. 

I can live with that scenario 👍🏻😎💰💰

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Ohhh I like this!

 

2014*  that the Central Bank completed its preparations for the issuance of coins of seven small categories gradually in a project that takes between four to five years to complete!

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1 hour ago, jg1 said:

Ohhh I like this!

 

2014*  that the Central Bank completed its preparations for the issuance of coins of seven small categories gradually in a project that takes between four to five years to complete!

Well it’s been about 4 or 5 years now hasn’t it!? Push the Button! 

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2 hours ago, 3n1 said:

zul excellent compilation recap , heres hoping..... all the best

 

Tq 3in1.....🍹 

 

1 hour ago, Half Crazy Runner said:

 

Interesting ...

So they could officially introduce a new dinar sometime between now and the middle of October and have the new rate fully implemented in January 2020. 

I can live with that scenario 👍🏻😎💰💰

 

:crossedfingers:

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56 minutes ago, zul said:

 

Tq 3in1.....🍹 

 

 

:crossedfingers:

I post some of your info on the Bros thread. I did credited you - wait for it - but Fat Finger the opening. You are Zulu there but Zul in your response. I really felt what you stated was good info.  

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27 minutes ago, ChuckFinley said:

I post some of your info on the Bros thread. I did credited you - wait for it - but Fat Finger the opening. You are Zulu there but Zul in your response. I really felt what you stated was good info.  

 

TQ Chuck, sharing is caring.:D

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I really enjoy what you bring to the table and as we move forward the more people that understand where things stand the better. 

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Economist: The central bank follows a fiscal policy to keep the dinar exchange rate against the dollar steady

By ahad5 24/08/2019 09:40 PM | Number Of Hits: 5355

Economist: The central bank follows a fiscal policy to keep the dinar exchange rate against the dollar steady

Ahd News - Baghdad

Economic expert Latif al-Okaili, on Saturday, that the government's approach to reprinting the currency will reduce the burden of damage to banknotes in the markets.

"The use of metal categories and their descent for circulation gives a notional value to the currency as it aims to preserve the currency and not need to request more banknotes, especially those with small categories," he said. This is a negative indicator of the country's economy. ”

He added that "the government's approach to reprinting the coin will reduce the burden of damage to banknotes in the market and reprinting again."

With regard to the possibility of raising the price of the dinar against the dollar Okaili stressed, "The central bank follows a fiscal policy to keep the exchange rate of the dinar against the dollar fixed without change to not enter inflation."

The parliamentary Finance Committee, on Monday, announced a trend to re-work in the currency and delete zeros from banknotes, in order to strengthen the economy. Finished 8

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Information / Special…

Economic expert Latif al-Okaili said on Saturday that the government's approach to reprinting the currency would ease the burden of damage to banknotes in the markets.

Al-Okaili said in a statement to Al-Maalouma that the use of metal categories and their descent for trading gives a notional value to the currency as it aims to preserve the currency and does not need to request more banknotes, especially those with small categories. "This is a negative indicator of the country's economy."

He added that "the government's approach to reprinting the coin will reduce the burden of damage to banknotes in the market and reprinting again."

With regard to the possibility of raising the price of the dinar against the dollar, Al-Okaili said, "The central bank is tired of a fiscal policy to keep the exchange rate of the dinar against the dollar unchanged for not entering inflation."

The parliamentary Finance Committee, on Monday, announced a trend to re-work in the currency and delete zeros from banknotes, in order to strengthen the economy. Finished 25 T.

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6 days old....

Finance Committee: Reinstating the civil currency and deleting zeros
2019-08-19 16:01:44 

fit

 

The Finance Committee in the House of Representatives, on the trend  to re-operate the coin, which has been used for decades in the country, stressing the importance of pre-empting the coinage process by step "delete zeros" from the current currencies to be valuable for small cash groups. 

Members of the committee said that "during meetings and discussions with officials at the Central Bank stressed the need to re-work coins that were used in Iraq during the past decades, rather than paper that is damaged and printed in large quantities again," according to the morning newspaper.

He added, "The use of metal categories and their descent for trading gives a notional value of the currency," noting that "the exchange rates of the currencies of a number of neighboring countries are very high against the dollar, however we find that it has a coin in order to preserve the currency and not need to ask for more banknotes." Especially with small groups. "

He expressed surprise at the policy of the Central Bank, which does not favor the introduction of coins for circulation in the Iraqi market .

For his part, a member of Parliamentary Finance Majid al-Waeli readiness of the Committee to prepare any legislation required by the Central Bank, which could benefit the economy and the Iraqi market, including the circulation of coins .

Ahmed al-Saffar, a member of the Finance Committee, said that "the cost of a coin is more than paper money.

Saffar suggested that "there is a step to delete zeros preceding the coinage process to be a value for small groups to large."

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Economist: The central bank follows a fiscal policy to keep the exchange rate of the dinar against the dollar steady

By ahad5 24/08/2019 09:40 PM | Number Of Readings

Economist: The central bank follows a fiscal policy to keep the exchange rate of the dinar against the dollar steady
 
 

Ahd News - Baghdad

 

Economic expert Latif al-Okaili, on Saturday, that the government's approach to reprinting the currency will reduce the burden of damage to banknotes in the markets.

"The use of metal categories and their descent for circulation gives a notional value to the currency as it aims to preserve the currency and not need to request more banknotes, especially those with small categories," he said. This is a negative indicator of the country's economy. ”

He added that "the government's approach to reprinting the coin will reduce the burden of damage to banknotes in the market and reprinting again."

With regard to the possibility of raising the price of the dinar against the dollar Okaili stressed, "The central bank follows a fiscal policy to keep the exchange rate of the dinar against the dollar fixed without change to not enter inflation."

The parliamentary Finance Committee, on Monday, announced a trend to re-work in the currency and the removal of zeros from banknotes, in order to strengthen the economy. Finished 8

 

http://alahadnews.net/index.php/permalink/174123.html

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8 minutes ago, 6ly410 said:

The parliamentary Finance Committee, on Monday, announced a trend to re-work in the currency and the removal of zeros from banknotes, in order to strengthen the economy

 

Pleeeeeeeease just do it already!!!  :praying:

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Can’t use coins at the current rate....only means one thing...an increase in value!!!

Great article, thanks @6ly410

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Maybe, we will see something happen this coming weekend, (Fri, Sat and Sunday Sept 1st.)

It is the Islamic New Year, a National dayLINK

Edited by DWS112
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6 hours ago, 8th ID said:

Can’t use coins at the current rate....only means one thing...an increase in value!!!

Great article, thanks @6ly410

BINGO  :bravo:

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