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The Iraqi Central Bank: Willingness to Delete the Zeros of the Iraqi Currency After the Formation of the Iraqi Govt


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The Iraqi Central Bank: Willingness to Delete the Zeros of the Iraqi Currency After the Formation of the Iraqi Govt

Dinar Trade - [9/16/2010]

The Iraqi Central Bank, on Tuesday, his willingness to delete the zeros of the Iraqi currency after the formation of the Iraqi government directly, pointing at the same time that those zeros that are added to the Iraqi currency during the last period formed a cluster of large cash amounted to 27 trillion Iraqi dinars .

The adviser said the Iraqi Central Bank Governor appearance of Mohammed Salih in an interview with “Alsumaria News”, “The zeros that are added to the Iraqi currency, during the last period, formed a cluster of large cash amounting to more than four trillion paper money, financial value amounted to 27 trillion Iraqi dinars, after that was 25 billion dinars in 1980, “noting that” Iraq is unable to manage this block because it is a small country where the large number of funds that traded on the Iraqi market has led to confusion in transactions for large commercial banks and in the work. ”

The Iraq and gradually the issuance of new banknotes after 1991 when it began currencies scarce on the market Iraq for several reasons, most notably the high demand for the fill buying and selling and smuggling of currency abroad, and to the north of Iraq, which split its time for the Central Administration, making the Iraqi government allows Central Bank of printing new banknotes to meet the local need, and continued the process of lifting of the zeroes of the dinar to beyond 2003 through the issuance of a class of cash amounting to 25 thousand dinars.

Saleh added that “the Bank has fully prepared to delete the zeros of the Iraqi dinar, once forming the Iraqi government,” noting that “the deletion of zeros is a national issue and may need to special legislation, despite the fact that the Central Bank of Iraq is a reform of the currency management from the core work and to delete the zeros is one of the strategic functions of the Central Bank of Iraq. ”

Saleh pointed out that “the Bank was able, during the last period, to reduce the level of inflation to the level of one decimal place, after more than twenty years,” noting that “Iraq could for the first time to reduce inflation to 3%, which reflects the success of Iraq policy,” monetary .

For his part, said economic expert on behalf of Jamil Antoine in an interview for “Alsumaria News”, “Iraq is not formatted for the time being to delete the zeros of the Iraqi dinar,” noting that “the deletion of zeros needed to stabilize the security and political, as well as economic stability.”

http://www.iraqdirectory.com/DisplayNews.aspx?id=13845

LOP or Redenomination ?

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No lop.

The Arabs use the word 'deleting zeros' as synonymious as increasing the value of their currency. It should be obvious by now arabic language do not have that word 'RV of redomination' Bush Adminstration didn't set this thing up to lop. IMF have never recommended that CBI should lop it. The World Bank have never based their calculations on Iraq loping. Go read their 2009 and 2010 budget. Scooter have duly explained this here many times. It is all there.You can think what you want though. If you are long enough in this investments, you will understand what l mean. If feel sorry for those of you who came in into this investments few months ago panicking whenever Dr Saleh opens his arabic mouth or his article is repeatedly recycled over and over again. Since last year G20 meeting in London, the IMF was directed to banish any Country from loping currencies.Rather the IMF will lend those Countries a helping hand to meet their balance of payment difficuties. The audit reports that have been carried out by varoius organs of Govts have never recommended loping to CBI. In fact, you should do your own due diligence or sell your iqd to Ali today.

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No lop.

The Arabs use the word 'deleting zeros' as synonymious as increasing the value of their currency. It should be obvious by now arabic language do not have that word 'RV of redomination' Bush Adminstration didn't set this thing up to lop. IMF have never recommended that CBI should lop it. The World Bank have never based their calculations on Iraq loping. Go read their 2009 and 2010 budget. Scooter have duly explained this here many times. It is all there.You can think what you want though. If you are long enough in this investments, you will understand what l mean. If feel sorry for those of you who came in into this investments few months ago panicking whenever Dr Saleh opens his arabic mouth or his article is repeatedly recycled over and over again. Since last year G20 meeting in London, the IMF was directed to banish any Country from loping currencies.Rather the IMF will lend those Countries a helping hand to meet their balance of payment difficuties. The audit reports that have been carried out by varoius organs of Govts have never recommended loping to CBI. In fact, you should do your own due diligence or sell your iqd to Ali today.

Thanks for your very clear and detailed explanation. Appreciated.

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