DWS112 Posted August 19, 2019 Report Share Talk about re-work coin and delete the zeros from the paper 19/08/2019 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." 1 5 9 Quote Link to comment Share on other sites More sharing options...
yota691 Posted August 19, 2019 Report Share Parliamentary Finance intends to reintroduce the coin ... Another proposal to delete the zeros 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'. 3 4 Quote Link to comment Share on other sites More sharing options...
yota691 Posted August 19, 2019 Report Share Parliamentary Finance reveals a trend to re-work "coin" 19/08/2019 193 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." 1 8 Quote Link to comment Share on other sites More sharing options...
Popular Post Butifldrm Posted August 20, 2019 Popular Post Report Share Economie Parliamentary Finance: Directed to re-work the coin and delete the zeros from the paper currency By Rudaw 19 hours ago Iraqi coins that were in place in the past Rudaw - Erbil announced the parliamentary Finance Committee in the Iraqi parliament, on the trend to re-work in the currency and delete zeros from banknotes, in order to strengthen the economy. "During meetings and discussions with Central Bank officials, we stressed the need to re-operate the coins that were used in Iraq during the past decades, rather than paper that is damaged and printed in large quantities again," committee member Hanin al-Qadu told the official Al-Sabah newspaper. He continued that "the use of metal categories and their descent for circulation gives a notional value of the currency," saying 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 ask for more banknotes, especially With small categories. " He pointed to the surprise of the policy of the Central Bank, which does not favor the introduction of coins for circulation in the Iraqi market. Ahmed al-Saffar, a member of the committee, said, "The cost of a coin is more than paper money, and it is more difficult to carry it on the citizen." He pointed out 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 preceding the coinage process to be a value for small groups to large." The Committee on Economy and Investment in the Iraqi Council of Representatives, revealed in 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. The Iraqi currency was abolished in 1991 when the international economic embargo on the country increased the rate of inflation in Iraq by 1000%, and the situation under the economic siege resulted in a large and continuous rise in prices, which destroyed the value of the Iraqi currency and reaching a very low exchange rate, which made Coin and few currency denominations without value. It is noteworthy that the Iraqi dinar, which was equal to 3.22 dollars before Iraqs invasion of Kuwait in 1990, its value fell to one dollar equivalent to three thousand dinars by 1996, and the value of the exchange rate of the Iraqi currency significantly after 2003, but returned to stability at about 1200 dinars Per dollar. https://www.rudaw.net/arabic/business/19082019 4 7 8 Quote Link to comment Share on other sites More sharing options...
Popular Post zul Posted August 20, 2019 Popular Post Report Share (edited) 2 hours ago, Butifldrm said: "During meetings and discussions with Central Bank officials, we stressed the need to re-operate the coins that were used in Iraq during the past decades So.......they have had meetings and discussions with CBI. 2 hours ago, Butifldrm said: number of neighboring countries - exchange rates are very high against the dollar This must be their aspirations ~ to have exchange rate higher than USD. 2 hours ago, Butifldrm said: suggesting that "there is a step to delete the zeros preceding the coinage process to be a value for small groups to large. We know this..... 2 hours ago, Butifldrm said: inflation in the economy prevents the minting of coins and make them circulate among citizens Yep.....but not anymore. Inflations is at all time low now.... 2 hours ago, Butifldrm said: revealed in 2014 that the Central Bank completed its preparations for the issuance of coins of seven small categories There were ready then, they sure are ready now... 2 hours ago, Butifldrm said: It is noteworthy that the Iraqi dinar, which was equal to 3.22 dollars Why tell us this if that's not the direction. 2 hours ago, Butifldrm said: announced the parliamentary Finance Committee in the Iraqi parliament This announcement comes from Finance Committee......~ i think this is part of the process to give notice to the public of what's coming ('suddenly'). Thru previous & various articles, the public have been educated and have been made aware of the project to delete the zeros. Now is the time (justifications) to reintroduce the coins. Great timing. FML gazetted, draft budget discussions (in parliament) in Sept, reconstructions agreements signed......new CBI governor. Alaq going to AMF in Sept......and so many other positivities. Footnotes: The dinar we hold was introduced (officially) on Oct.15, 2003, fully implemented Jan 2004. All jmo...... Edited August 20, 2019 by zul . 13 15 14 Quote Link to comment Share on other sites More sharing options...
3n1 Posted August 24, 2019 Report Share zul excellent compilation recap , heres hoping..... all the best 5 Quote Link to comment Share on other sites More sharing options...
Half Crazy Runner Posted August 24, 2019 Report Share 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 👍🏻😎💰💰 8 Quote Link to comment Share on other sites More sharing options...
jg1 Posted August 24, 2019 Report Share 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! 3 1 9 Quote Link to comment Share on other sites More sharing options...
NEPatriotsFan1 Posted August 24, 2019 Report Share 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! 1 4 Quote Link to comment Share on other sites More sharing options...
zul Posted August 24, 2019 Report Share 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 👍🏻😎💰💰 4 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted August 24, 2019 Report Share 56 minutes ago, zul said: Tq 3in1.....🍹 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. 3 1 2 Quote Link to comment Share on other sites More sharing options...
zul Posted August 24, 2019 Report Share 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. 3 1 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted August 24, 2019 Report Share I really enjoy what you bring to the table and as we move forward the more people that understand where things stand the better. 1 3 Quote Link to comment Share on other sites More sharing options...
yota691 Posted August 25, 2019 Report Share 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 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 1 4 Quote Link to comment Share on other sites More sharing options...
yota691 Posted August 25, 2019 Report Share Economist: Reprinting the coin will reduce the burden of paper damage 20:14 - 24/08/2019 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. 1 4 6 Quote Link to comment Share on other sites More sharing options...
yota691 Posted August 25, 2019 Report Share 6 days old.... Finance Committee: Reinstating the civil currency and deleting zeros 2019-08-19 16:01:44 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." 7 8 Quote Link to comment Share on other sites More sharing options...
6ly410 Posted August 25, 2019 Report Share 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 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 2 8 Quote Link to comment Share on other sites More sharing options...
Half Crazy Runner Posted August 25, 2019 Report Share 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!!! 12 Quote Link to comment Share on other sites More sharing options...
Popular Post Laid Back Posted August 25, 2019 Popular Post Report Share The economy will reap a huge dividend in using the coins for small transactions rather than notes, as the ageing rate of notes is much faster than the rate at which coins can deteriorate. It is time to stop the auctions, delete the zero’s, give real market value to the dinar, rollout the LD’s and coins Go CBI Go RV Go LD Go Coins Go $1:1 3 5 13 Quote Link to comment Share on other sites More sharing options...
steveh12 Posted August 25, 2019 Report Share What HCR and LB Said!!😁 2 2 Quote Link to comment Share on other sites More sharing options...
Bunk Posted August 25, 2019 Report Share Same crud, different day. 1 2 1 2 Quote Link to comment Share on other sites More sharing options...
8th ID Posted August 25, 2019 Report Share Can’t use coins at the current rate....only means one thing...an increase in value!!! Great article, thanks @6ly410 3 11 Quote Link to comment Share on other sites More sharing options...
DWS112 Posted August 25, 2019 Author Report Share (edited) Maybe, we will see something happen this coming weekend, (Fri, Sat and Sunday Sept 1st.) It is the Islamic New Year, a National day. LINK Edited August 25, 2019 by DWS112 2 4 8 Quote Link to comment Share on other sites More sharing options...
Early Retirement Posted August 25, 2019 Report Share Everyone needs to google what notional value and negative indicators are.....then you will have a better understanding as to what the article is saying. 2 2 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted August 25, 2019 Report Share 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 1 6 Quote Link to comment Share on other sites More sharing options...
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