Friday Late Afternoon Opinions @ 5:27 PM MDT - 4/19/2024

[ronscarpa]

REMEMBER, no one really  knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ...  RON 

 

 

 Pimpy   Article Quote: "Removing zeros off the Iraqi Dinar can indeed impact liquidity issues in Iraq.  By re-denominating the currency and removing zeros, the Central Bank of Iraq aims to reduce transaction costs and make it easier for people to carry less physical money.  With a lower denomination, larger amounts can be replaced with fewer notes...This can potentially enhance liquidity management within the country's financial system."  So the deletion of the zeros could help Iraq with their liquidity issues...

 

 

[NWGUY]

Thank you Ron...Pimpy is all knowing "Lopster".   I hope Pimpy doesn't expect us all to jump in the LOPSTER TANK with him!  

[screwball]

3 hours ago, ronscarpa said:

Removing zeros off the Iraqi Dinar can indeed impact liquidity issues in Iraq.  By re-denominating the currency and removing zeros, the Central Bank of Iraq aims to reduce transaction costs and make it easier for people to carry less physical money. 

Yep…they have asked banks to increase capital requirements…they have stated that delete zeros will not affect trading in the stock market.

 

The central bank says it completed a road map to get rid of the three zeroes.

Also announced that the Economic Committee in the Iraqi Parliament, last Thursday, they formed the Central Bank of Iraq with a joint committee to begin the process of deletion of zeros from the local currency.

 

According to Executive Director Abdul Razzaq al-Saadi (Rn) that “the deletion of zeros from the local currency no more than is organizational and it will not affect the level of trading stock investment foreign and domestic,” noting that “the continuous coordination with the Central Bank to regulate the process of deleting the zeros and confidence that he will not affect the level of internal and external trading of the shares of stock. ”

 

[screwball]

The central bank has to choose the right time to delete the zeros of the local currency in coordination with the Iraqi market for securities to avoid any confusion regarding the lifting of banking transactions.”

Authority announced the Iraq Stock Exchange yesterday that the deletion of three zeros from the local currency will not affect the level of equity investment of external and internal.
 

Edited April 20 by screwball

[screwball]

as he did not use any coordination with the Iraq Stock Exchange regarding the selection of the time to start pumping dinar new. ”

 

this is interesting so the ISX are launching a new index, will this be done in coordination with the new rate and dinar

[screwball]

So ending auctions, we are expecting a new rate, and they are announcing a new ISX index for banking and other sectors which will take into account all dividends etc going back to 2017!