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September 27, 2022
The Governor of the Central Bank of Iraq is hosted by the Al-Rafidain Forum

 



Today, Tuesday, Al-Rafidain Forum for Dialogue hosted His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Mikhaif, in the presence of local and international personalities. His Excellency said during the special meeting on the sidelines of the forum’s activities, which started yesterday, Monday, under the slogan “The World is Changing”: International banks had important roles during the Corona pandemic, and the Central Bank of Iraq moved from its traditional role to modern banking, as it prepared a five-year strategy to meet challenges and circumstances. His Excellency pointed out that the Central Bank of Iraq presented a unique development initiative that had an internal and external resonance, providing financial liquidity to many sectors, while facilitating the procedures for granting it through government and private banks, which led to moving the wheel of the Iraqi economy.

He added: The banking sector is affected by the challenges that occur in the Iraqi arena, indicating that the bank's management has made tours in several countries to establish joint banking and economic relations within the objectives set for the Central Bank of Iraq. On the other hand, His Excellency indicated that a team from the Central Bank of Iraq is studying the issuance of digital currency. His Excellency touched on the issue of structuring the currency and deleting zeros, which requires a law to be legislated by Parliament, as a draft law was submitted years ago, and it needs amendments. He revealed the imminent launch of a new currency of (20) thousand dinars after the studies and research that were conducted, and the economic feasibility of them, stressing that the Central Bank is working to complete the design of the new currency, and it will be announced after completing its printing.

His Excellency added: We have worked to implement international standards for combating money laundering and terrorist financing, with joint efforts with the concerned and competent authorities with great government supportNoting that the Central Bank of Iraq has drawn up a plan to reform the governmental and private banking sector, and that there are a number of measures in this regard that require the cooperation of the concerned authorities. Then he referred to the tasks of the bank's branches in the governorates by covering the southern and northern regions, and that the need arose to cover the middle Euphrates region, and through the studies that were conducted, the Najaf Governorate was chosen to cover that region in order to revive it economically.

Regarding the process of changing the dollar exchange rate, His Excellency the Governor confirmed that it was due to the circumstances that Iraq faced at the time and obligated the bank and the government to change it, stressing that there is no intention of the Central Bank of Iraq to make a change to the dollar exchange rate.

Central Bank of Iraq
Media Office
27 - September - 2022

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The central bank reveals a new denomination of the currency and is working on issuing a digital one
  
{Economic: Al Furat News} The naked central bank revealed a new denomination of the Iraqi currency.

In his speech during the Al-Rafidain Forum for Dialogue, the Governor of the Bank, Mustafa Ghaleb, said: "We are working on a new currency, a category of 20 thousand dinars, after studies in order to keep pace with the requirements and to match the neighboring countries."
"We will start announcing the new category after completing its requirements," he added.  

He stressed that "there is no intention to reduce or change the exchange rate of the dollar against the Iraqi dinar."

Ghalib revealed that "the Central Bank is working on issuing digital currency to keep pace with the development of monetary transactions in the region and the world," adding, "But so far, there is no specific orientation, dates and controls for issuing digital currency in the country, and we are working during the coming period on these controls to keep pace with the countries of the region and reduce the practice of dealing." cash by issuing this digital currency.”

Ghaleb pointed out that "deleting zeros from the currency is a previous project submitted by the Central Bank and requires amendments and requires legislation," stressing that "the atmosphere must be provided to accept such transactions."
And he said, "We reduced the interest rate on loans provided to finance projects in the initiatives of the Central Bank, and we worked to implement international standards to combat money laundering."

He explained that "Iraq's exit from the European Union's list of high-risk countries gives support system" rel="">support to the movement of the economy and the financial and banking sector."

It is noteworthy that Iraq owns 7 categories of local currency issued by the Central Bank of Iraq are {250 dinars, 500 dinars, 1000 dinars, 5000 dinars, 10,000 dinars, 25000 dinars, and 50,000 dinars).

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6ly410

 

  • Central Bank: We are preparing to issue a new Iraqi currency and this is our position on the deletion of zeros
1002717-9bd4e90c-01be-4bfa-b54a-6badf2fc
Baghdad /Nina/ The Central Bank revealed the timing of the issuance of a new monetary denomination of the Iraqi currency, while disclosing its position on the deletion of zeros and digital currency.
The governor of the central link Mustafa Ghaleb, in press statements on Tuesday, followed by the Iraqi National News Agency, said, "We have reduced the interest rate on loans provided to finance projects in the initiatives of the Central Bank," noting that " the initiatives have targeted the housing sector, which employs more than 30 orphans in various sectors.”

He added, "The Central Bank has a special team that has been working for more than a year on the issuance of the digital currency, and so far we do not have a specific date for the issuance of such a currency," noting that the process of deleting zeros requires the issuance of a law, and a draft law has been prepared to do so and sent to the previous government, but now it requires an amendment, and there is a necessary need to create an appropriate political atmosphere within the House of Representatives to issue such legislation where the atmosphere must be provided socially, economically and locally to accept such modifications."

On the possibility of issuing a new currency, the Governor of the Central Bank said, "We are currently working on the design of a new coin of 20,000 dinars , after a series of practical studies to unify the Iraqi currency, and will be launched to announce it after the completion of its future printing.”
On the change of the exchange rate, the Governor of the Central Bank explained, "The process of changing the exchange rate in 2021 obliged the Central Bank to take that decision in the light of a number of circumstances in consultation with international bodies, including the World Bank and the Monetary Fund, which have already proposed this since 2014."
He added, "The bank did not take this decision and the circumstances did not help us then, but the decision personally believed that it came late and there are those who asked to change the price to the top of that," noting that "the change of the exchange rate since the decision was taken, provided the government with more than 23.5 trillion dinars as well as oil and non-oil revenues, " stressing that "currently there is no intention of the central bank to change the exchange rate." /End5
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Tuesday, 27 September 2022 10:36 AM

Baghdad/National News Center

Today, Tuesday, the Governor of the Central Bank, Mustafa Ghaleb Mikhaif, stated that the bank intends to issue a banknote of 20 thousand dinars.

Makheif said during his hosting at the Al-Rafidain Forum for Dialogue, that "the bank is working on issuing the digital currency to keep pace with the development taking place in monetary transactions in the region and the world, stressing that deleting zeros from the local currency requires a calm economic atmosphere for that."

He added, "So far, there is no specific orientation, dates and controls for issuing digital currency in the country," adding, "But we are working during the coming period on these controls to keep pace with the countries of the region and reduce the practice of dealing with cash through the issuance of this digital currency."

And about deleting zeros from the local Iraqi currency, the central bank governor said, “The process of deleting zeros requires the issuance of a law, and a draft law in this area has been prepared by the Central Bank and was submitted to the previous government.”

He explained that "this law needs amendments," stressing that "issuing this law requires an atmosphere because the deletion of zeros has a direct relationship to the economy and to market prices in the country."

With regard to decreasing the dollar, the governor stressed that “there is no intention to reduce or change the dollar exchange rate.”

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Additionally, Ghalib stressed that the CBI has no intention to change the exchange rate of the U.S. dollar. #USD
 
Sometimes when they make statements like this the next day or shortly after they change the rates.  Probably not in this case but the statement piqued my interest.   I'm on high alert with what's going on in the Markets and the time of year. (Markets traditionally go through rough times in late Sept. to Oct).   I'm expecting something big to happen in the coming weeks if not days.  You can bet your last dollar that the Iraq Dinar will be part of the Great Reset.  When will that be.  IDK, but sooner than many believe.  We've all been waiting 20-15-10 years for an RV, what's another few weeks or even 2 years.  I'm not going anywhere.  😃 
 
Thank you Yota and 6ly410 for all the posts.  You and many others are Legend for hanging in there and providing us with news, Everyday!!!!   I truly appreciate all that you do to keep us informed.  
 
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IRAQ CENTRAL BANK ISSUES NEW BANKNOTE

PM:12:43:27/09/2022

 

SULAIMANI— Iraqi Central Bank to issue a new banknote with a value of 20 thousand Iraqi dinars (IQD), in paper form, the bank said on Tuesday (September 27).

According to Iraqi News Agency (INA), the bank's Governor, Mustafa Mukhif , said today that the bank has no plans to change its exchange rate.

He said the bank is working on the design for the new banknote, which would be revealed in the coming days.

He added that the Central Bank has worked on the 20 thousand IQD denomination based on its research on the neighbouring countries.

Regarding the Iraqi dinar exchange rates to the United States dollar, Mukhif revealed that the bank has no intention of lowering the exchange rates.

In 2020, Iraq's Central Bank devalued its currency against the US dollar by almost 20 per cent. The value of $100 increased from 119,000 IQD to 145,000 IQD.

Mukhif added that Iraq is still in its early stages of benefiting from the increased rate.

He also noted that the bank is working on addressing some of the side effects of the high Iraqi dinar exchange rates.

(NRT Digital Media)

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I am curious to see exactly how many of these 20k notes they print. I’m hoping it will be just enough for all Iraqis to get some and learn it’s value. 
This 20k note should turn into a 20 Dinar note in time and the 25k note will be phased out….

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1 hour ago, DoD said:

I am curious to see exactly how many of these 20k notes they print. I’m hoping it will be just enough for all Iraqis to get some and learn it’s value. 
This 20k note should turn into a 20 Dinar note in time and the 25k note will be phased out….

That's what I was thinking.

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Iraqi central bank to issue 20 thousand Dinar banknote

9/27/2022 8:11:30 PM
2792022201130iraqq.jpg
 Iraqi currency.
 photo: 
 
 
 
 kurdsatnews
Iraqi Central Bank Governor says he has no intention of changing the dollar's value because the government's revenue has increased by more than 30 trillion dinars due to the depreciation of the country's currency.
 
 

In an interview during the "Al-Rafidain Forum for Dialogue", Iraqi Central Bank Governor Mustafa Ghalib indicated that "we are working on a new currency, a 20 thousand dinars banknote, after studies in order to keep pace with the requirements and match the neighboring countries, and we will start announcing it after completing their requirements," noting that "there is no intention to reduce or change the dollar exchange rate."

He added that since the change in the dollar's value, about 30 trillion and 500 billion dinars had increased government revenue and oil revenue. In the 2021 budget law, the Iraqi parliament voted to set the dinar price at 1,450 dinars per dollar. Now one US dollar is traded for around 1,480 dinars on the market.

Concerning the bank's branches, he said, "We have a branch in Basra that covers the southern region, and in Mosul to cover the north, and a branch in Erbil, and we are working to set up a branch in Najaf, but we need a second land to build safes and annexes, and we will start completing the procedures for establishing this branch to cover the middle Euphrates."

Regarding the removal of zeros on Iraqi bills, the governor said the removal of zeros on the Iraqi dinar requires legislation.

 

 


 
 
 

 

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On 9/28/2022 at 8:09 PM, yota691 said:

 

  It is noteworthy that Iraq owns 7 categories of local currency issued by the Central Bank of Iraq are {250 dinars, 500 dinars, 1000 dinars, 5000 dinars, 10,000 dinars, 25000 dinars, and 50,000 dinars).

Have dinar holders ever notice that Iraq has never owned 15,000 dinar denomination? Instead , they own 10,000 dinar denomination. And, why would they want to introduce a new currency of 20,000 dinar denomination? The reason behind this May Be they want to phase out all 25,000 denomination for more or less than 5 to 10 years and then replace them with new currency of 20,000 denomination. That means both 25,000 and new currency of 20,000 denominations will coexist until they phase out all 25,000 denomination 100% completely. Once again, I really want to prove my analysis totally wrong because that really shocks me if in reality, they really want to phase out all 25,000 denomination which dinar holders mostly own them.

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Economist for / Nina /: Printing a new currency has its advantages and disadvantages

خبير اقتصادي لـ / نينا / : طبع عملة جديدة له ايجابيات وسلبيات (ninanews-com.translate.goog)

1003740-fbe1bf30-3786-4e57-b3c8-3e0dd0a9
Baghdad / NINA / - The economic expert, Jalil Al-Lami, confirmed that printing a new currency has its advantages and disadvantages.

He told the National Iraqi News Agency ( NINA ) that the Central Bank of Iraq's resort to thinking of printing a new currency of (20) thousand dinars aims to support system" rel="">suppor t commercial markets in the local currency and to activate these markets and increase the purchasing power of the citizen and apply the experience of neighboring countries with the diversity of monetary categories used by them.

Al-Lami added that on the other hand, this step has many disadvantages, foremost of which is a rise in inflation rates, a rise in the prices of goods and services, and a decline in the value of the dinar against foreign currencies.

And the Governor of the Central Bank, Ghaleb Mukhaif, said in a previous statement: We are currently working on completing the design of a new currency of 20 thousand dinars, after a series of practical studies to unify the Iraqi currency, and it will be announced after completing its printing in the future. / End 3
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On 9/28/2022 at 8:09 PM, yota691 said:

 

  
1 hour ago, 6ly410 said:

And the Governor of the Central Bank, Ghaleb Mukhaif, said in a previous statement: We are currently working on completing the design of a new currency of 20 thousand dinars

It is noteworthy that Iraq owns 7 categories of local currency issued by the Central Bank of Iraq are {250 dinars, 500 dinars, 1000 dinars, 5000 dinars, 10,000 dinars, 25000 dinars, and 50,000 dinars).

Why would the governor of CBI only print a new currency of 20,000 denomination while 25,000 denomination have already been existing for almost 19 years? Why wouldn't the governor of CBI print new currencies both 20,000 and 15,000 denominations at the same time while 10,000 denomination have already been existing for almost 19 years? Why wouldn't the governor of CBI print new currencies both 55,000 and 150,000 denominations while 50,000 and 100,000 denominations ( only for a large transaction not for a public oriented ) have already been existing? The point is why would the governor of CBI only print 25,000 denomination , and Never print 15,000 , 55,000 , and 150,000 denominations? The governor of CBI surely has his own purpose by not printing 15,000 , 55,000 and 150,000 when they already printed 25,000 after the fall of Saddam's regime in 2003?

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On 9/30/2022 at 2:50 PM, rvmydinar said:

Have dinar holders ever notice that Iraq has never owned 15,000 dinar denomination? Instead , they own 10,000 dinar denomination. And, why would they want to introduce a new currency of 20,000 dinar denomination? The reason behind this May Be they want to phase out all 25,000 denomination for more or less than 5 to 10 years and then replace them with new currency of 20,000 denomination. That means both 25,000 and new currency of 20,000 denominations will coexist until they phase out all 25,000 denomination 100% completely. Once again, I really want to prove my analysis totally wrong because that really shocks me if in reality, they really want to phase out all 25,000 denomination which dinar holders mostly own them.

 

Oh man!  25,000 notes are all I have.  How would I go about trading them in for smaller denominations?

 

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6 hours ago, rvmydinar said:

Why would the governor of CBI only print a new currency of 20,000 denomination while 25,000 denomination have already been existing for almost 19 years? Why wouldn't the governor of CBI print new currencies both 20,000 and 15,000 denominations at the same time while 10,000 denomination have already been existing for almost 19 years? Why wouldn't the governor of CBI print new currencies both 55,000 and 150,000 denominations while 50,000 and 100,000 denominations ( only for a large transaction not for a public oriented ) have already been existing? The point is why would the governor of CBI only print 25,000 denomination , and Never print 15,000 , 55,000 , and 150,000 denominations? The governor of CBI surely has his own purpose by not printing 15,000 , 55,000 and 150,000 when they already printed 25,000 after the fall of Saddam's regime in 2003?

My opinion and my opinion only;

This is a Red Herring, a distraction, look at the shiny object, don't look there look here or however one wants to phrase it.

After all the talk about releasing "lower denominations", for YEARS to the ATM'S, NOW the CBI is talking about issuing a 20K note to the public ?? 

It doesn't make financial sense, IMHO ................. (but this is Iraq and nothing makes logical sense there)

I don't even see how the LOP calculation works with a 20K note ??

 

Educating the public per the "guru's" is pure :bs:

Just sayin' ..................

 

Semper Fi:salute:

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Al-Kazemi's advisor clarifies the purpose of issuing a new cash denomination in Iraq

1664707329_209598-810x439.jpg
News source / Baghdad today

 

Baghdad today - special

Mazhar Muhammad Salih, the financial and economic advisor to the Prime Minister, commented today, Sunday, on the intention to issue a category of 20 thousand dinars by the Central Bank of Iraq.

Saleh said, to (Baghdad Today), that “issuing a new category for cash circulation, especially a category that is not very high, does not mean that it is an expression of inflationary conditions, but rather it is a measure to improve the efficiency of the performance of the cash payments system in the country in intermediate currencies that serve the speed of monetary exchange and facilitate the settlement of transactions and payment methods.” within the economic community.

And he indicated that “the issuance of a new category of Iraqi currency by the Central Bank of Iraq, a category of 20 thousand dinars, comes within the framework of improving the policy of the Central Bank in managing the cash payments system, which required through experience the need to issue a category (intermediate currency) divisible by two to facilitate payments. cash (not large) within the cash circulation system.”

And the Central Bank of Iraq announced, last Tuesday, its intention to issue a new category of Iraqi currency worth 20 thousand, while stressing that there is no intention of the Central Bank to change the exchange rate of the dollar.

The Governor of the Central Bank, Mustafa Makheef, said during his speech at the Al-Rafidain Forum, which I followed (Baghdad today): “The central bank has no intention to reduce or change the dollar exchange rate,” stressing that “Iraq is still in the early stages of reaping the positive effects of the exchange rate change, and there are some Negative indicators are working to address them in the coming period.”

He added that "the process of deleting zeros from the currency needs to legislate a law and requires some modifications, and the atmosphere must be available to accept such modifications," noting that "the central bank presented earlier a project on the process of deleting zeros."

He pointed out that “the Central Bank is working to complete a new category of 20 thousand dinars based on a study and research compared with neighboring countries, and is working to complete the form of the paper and in the coming days it will be announced,” noting that “the Central Bank has reduced the interest rate on loans.” provided to finance projects, and that the initiatives largely targeted the housing sector, which occupies more than 30% in various sectors.”

He explained that "the central bank has a plan and strategy for five years, and it may be delayed because of what it faces in several areas," noting that "the central bank has taken several steps to develop the banking and financial sectors, including canceling interest and setting simple fees for the development of industrial, residential and agricultural projects."

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Abdul Hassan Al-Shammari to / Nina /: Printing a new currency .. Administrative corruption and waste of public money 

1003881-c0ed724c-7068-4689-9d25-63963bb4
Baghdad / NINA / - The economic expert, Abdul Hassan Al-Shammari, considered the intention of the Central Bank of Iraq to print a new currency in the category of 20 thousand dinars .. administrative corruption and waste of public money.

He told the National Iraqi News Agency ( NINA ) that printing a new currency is not economically feasible because the existing currencies are completely sufficient.


He continued, "The printing will cost hundreds of millions of dollars, and this is a waste of public money."

Al-Shammari considered that the purpose of printing is to put the name and signature of the new governor only because the currencies in circulation are in the names and signatures of other governors.

And the Governor of the Central Bank, Ghaleb Mukhaif, said in a press statement: We are currently working on completing the design of a new currency of 20 thousand dinars, after a series of practical studies to unify the Iraqi currency, and it will be announced after completing its printing in the future. / End 3
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The appearance of Muhammad Salih to / Nina /: Issuing a new denomination of currency .. Improving the efficiency of the monetary system

The appearance of Muhammad Salih to / Nina /: Issuing a new denomination of currency .. Improving the efficiency of the monetary system (ninanews-com.translate.goog)

1003836-e3f8e4c3-48bb-4ea2-9a99-d20e8ea3
Baghdad / NINA / - The financial expert, advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed: The issuance of a new category of currency... is an improvement in the efficiency of the monetary system.

He told the National Iraqi News Agency ( NINA ) that the issuance of a new category for cash circulation, especially a category that is not very high, does not mean that it is an expression of inflationary conditions, but rather it is a measure to improve the efficiency of the performance of the cash payments system in the country with intermediate currencies that serve the speed of monetary exchange and facilitate the settlement of transactions and payment methods within the community. Economic.

Saleh added: The announcement by the Central Bank of Iraq of the imminent issuance of a category of twenty thousand dinars, comes within the framework of improving its policy in managing the cash payments system in the country, which required through experience the need to issue a category (intermediate currency) divisible by two to facilitate cash payments (not large). ) within the country's monetary system.


And the Governor of the Central Bank, Ghaleb Mukhaif, said in a press statement: We are currently working on completing the design of a new currency of 20 thousand dinars, after a series of practical studies to unify the Iraqi currency, and it will be announced after completing its printing in the future. / End 3
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Al-Kazemi's advisor clarifies the purpose of issuing a new cash denomination in Iraq

1664707329_209598-810x439.jpg
News source / Baghdad today

Mazhar Muhammad Salih, the financial and economic advisor to the Prime Minister, commented today, Sunday, on the intention to issue a category of 20 thousand dinars by the Central Bank of Iraq.

Saleh said, to (Baghdad Today), that “issuing a new category for cash circulation, especially a category that is not very high, does not mean that it is an expression of inflationary conditions, but rather it is a measure to improve the efficiency of the performance of the cash payments system in the country in intermediate currencies that serve the speed of monetary exchange and facilitate the settlement of transactions and payment methods.” within the economic community.

And he indicated that “the issuance of a new category of Iraqi currency by the Central Bank of Iraq, a category of 20 thousand dinars, comes within the framework of improving the policy of the Central Bank in managing the cash payments system, which required through experience the need to issue a category (intermediate currency) divisible by two to facilitate payments. cash (not large) within the cash circulation system.”

And the Central Bank of Iraq announced, last Tuesday, its intention to issue a new category of Iraqi currency worth 20 thousand, while stressing that there is no intention of the Central Bank to change the exchange rate of the dollar.

The Governor of the Central Bank, Mustafa Makheef, said during his speech at the Al-Rafidain Forum, which I followed (Baghdad today): “The central bank has no intention to reduce or change the dollar exchange rate,” stressing that “Iraq is still in the early stages of reaping the positive effects of the exchange rate change, and there are some Negative indicators are working to address them in the coming period.”

He added that "the process of deleting zeros from the currency needs to legislate a law and requires some modifications, and the atmosphere must be available to accept such modifications," noting that "the central bank presented earlier a project on the process of deleting zeros."

He pointed out that “the Central Bank is working to complete a new category of 20 thousand dinars based on a study and research compared with neighboring countries, and is working to complete the form of the paper and in the coming days it will be announced,” noting that “the Central Bank has reduced the interest rate on loans.” provided to finance projects, and that the initiatives largely targeted the housing sector, which occupies more than 30% in various sectors.”

He explained that "the central bank has a plan and strategy for five years, and it may be delayed because of what it faces in several areas," noting that "the central bank has taken several steps to develop the banking and financial sectors, including canceling interest and setting simple fees for the development of industrial, residential and agricultural projects."

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On 10/2/2022 at 7:22 AM, Floridian said:

 

Oh man!  25,000 notes are all I have.  How would I go about trading them in for smaller denominations?

 

That is only my own analysis. It can be right and it can be wrong. You don't have to believe what I said. I also have 25,000 notes and I don't intend to trade them in for smaller denomination. 

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On 10/2/2022 at 8:20 AM, Hotcurl said:

My opinion and my opinion only;

This is a Red Herring, a distraction, look at the shiny object, don't look there look here or however one wants to phrase it.

After all the talk about releasing "lower denominations", for YEARS to the ATM'S, NOW the CBI is talking about issuing a 20K note to the public ?? 

It doesn't make financial sense, IMHO ................. (but this is Iraq and nothing makes logical sense there)

I don't even see how the LOP calculation works with a 20K note ??

 

Educating the public per the "guru's" is pure :bs:

Just sayin' ..................

 

Semper Fi:salute:

I hope you are right. And, issuing a 20K note has got nothing to do with LOP. CBI has his own purpose by issuing a 20K note only to the publics and CBI won't tell us the reason until after they really really release them to the publics one day.

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Adviser to the Central Bank of Iraq: The new twenty thousand dinars category will carry high security marks

1005890-11ffc64a-14c8-42f6-ba1f-cb0ba9e0
Baghdad / NINA / - The Central Bank of Iraq confirmed, today, Thursday, that the new twenty thousand dinars category will carry high security marks, and while pointing out that there is no tendency to print a category higher than 50,000, he revealed that the volume of the monetary mass in circulation in Iraq is 84 trillion dinars.

The advisor of the Central Bank of Iraq, Ihsan Shamran al-Yasiri, said to the official agency, "The printing of the new 20,000 dinars denomination is part of the normal monetary practices of the Central Bank and within the framework of reconsidering the structure of the national banknote series."


He added, "This category will be an intermediate currency structure and will be enhanced with high security marks from the latest globally and will provide an addition to smaller denominations such as the five thousand and ten thousand."


He continued, "The denomination of twenty thousand will be of the (standard) size under which the denomination of fifty thousand was printed, and it will also bear Iraqi features, as was done in the currencies that preceded it," noting that "there is no current trend to reprint the current currencies with new copies."


In response to a question about the possibility of issuing higher categories, between Al-Yasiri, that "the 50 thousand category is sufficient at the present time for the upper limit of the Iraqi currency, which is a very strong and sober category and can be used for storage, savings and cash transactions."


He pointed out that "the size of the monetary mass circulating in banks and the public currently ranges between 83-84 trillion Iraqi dinars, and the new issuance of the 20,000 denomination will not change much of the volume of circulation because it will enter into the existing liquidity."


He stressed that "the printing of the new category will not affect the value of the Iraqi currency and will not cause inflation, and the issue of inflation is linked to economic policies and has nothing to do with monetary circulation." / End 8
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The Central Bank: We will not print a currency higher than 50 thousand, and the volume of the circulated mass is 84 trillion dinars

 
news source /first news agency
Screenshot_20221006_195402-810x470.jpg

( Iraq News Encyclopedia of News )

Today, Thursday, the Central Bank of Iraq confirmed that the new twenty thousand category will carry high security marks, and while he pointed out that there is no tendency to print a category higher than 50 thousand, he revealed that the volume of money circulating in Iraq is 84 trillion dinars.

Central Bank Adviser Ihsan Shamran Al-Yasiri said to the laboratory program broadcast by Al-Iraqiya News and followed by (Al-Oula News), that "the printing of the new 20,000 dinars denomination is part of the normal normal practices of the Central Bank and within the framework of reconsidering the structure of the national banknote series.”

He added, "This category will be an intermediate currency structure and will be enhanced with high security marks from the latest global, and will provide an addition to smaller denominations such as the five thousand and 10 thousand."

He added that "the denomination of twenty thousand will be of the (standard) size under which the denomination of fifty thousand was printed, and it will also bear Iraqi features, as was done in the currencies that preceded it," noting that "there is no current tendency to reprint the current currencies with new copies."
In response to a question about the possibility of issuing higher categories, between Al-Yasiri, that “the 50 thousand category is sufficient at the present time for the upper limit of the Iraqi currency, which is a very strong and sober category and can be used for storage, savings and cash transactions.”

He pointed out that "the size of the cash block circulating in banks and the public currently ranges between 83-84 trillion Iraqi dinars, and the new issue of the 20,000 denomination will not change much of the volume of circulation because it will enter into the existing liquidity."

He stressed that "the printing of the new category will not affect the value of the Iraqi currency and will not cause linked inflation, and the issue of inflation is to economic policies and has nothing to do with monetary circulation."

 

 

Disclaimer: The content with the title (Central Bank: We will not print a currency higher than 50 thousand, and the volume of the circulating mass is 84 trillion dinars) was first published on the (Al-Oula News) website, and the Iraq News Encyclopedia website is not responsible for the content of the news in any way. Read ( disclaimer ) .
And you can see the details of this address (Central Bank: We will not print a currency higher than 50 thousand, and the volume of the circulated mass is 84 trillion dinars) through its original source on the (Al-Oula News) website, from the source link below the news.

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