Other denominations

[sandyf]

Link picked up on another post.

http://www.cipe.org/regional/mena/iraq/pdf/bttv_synopsis_ep6.pdf

Text extract.

The three guests from the Central Bank discussed the bank's plan to enhance the Iraqi banking sector and financial markets throughout 2006. They highlighted a series of steps that have already been taken, including:·

Establishing the Central Bank's independence from the Ministry of Finance·

Training 70% of the bank's staff on international best practices·

Printing a series of 14 new Iraqi Dinar notes and coins.

However, guests on the show representing private banks and the private sector, as well as average Iraqis interviewed on the street, voiced the following concerns about the policies of the Central Bank:· There is only one financial market within Iraq, the Iraq Stock Exchange, which is dominated by a few key players.· The procedures for participating in the Iraq Stock Exchange are very cumbersome. For example, it takes 45 days for a certificate to be issued to a new stockholder.· Private banks require support from the Central Bank to obtain training for their staff in areas such as information technology, international best practices, and English.· Checks issued by private banks are not accepted by state and government entities.Aldiyar Satellite Broadcasting presents:Episode 6 Synopsis: The Financial Sector and Money MarketsAirdate: August 6, 2005Economic Files does not necessarily reflect the views of CIPE

Edited December 29, 2010 by Munsch
fixed link

[RhondaG]

Sandy, sorry, your link doesn't work? Thanks.

[sandyf]

Common problem with media links. Try this one.

http://search.cipe.org/search?q=cache:3B0GSLxHiWY:http://www.cipe.org/regional/mena/iraq/pdf/bttv_synopsis_ep6.pdf+Iraqi+dinar+notes&ie=&site=cipe&output=xml_no_dtd&client=cipe&access=p&lr=&proxystylesheet=cipe&oe=

Also helps to right click and select 'open in new tab or window'

Edited December 23, 2010 by sandyf

[hopefullbk]

So from this television show, we are to beleive that the new notes have been around since 2005? I'm lovin what they are talking about, it would be a huge peice of the puzzle. I would however like to see pics or new evidence that these are in fact in the banks and ready to roll. Not being negative but if the RV were immenent as many have said, they would have to be in the market (banks at the very least) already. As many boots on the ground as this forum has, that should be easily verified.

[DragonCruiser]

I'm currently working on a base in Iraq that has a Warka Bank.

I have seen the lower denominations, as low as $5.

I plan to exchange $100 US (117,000) for some smaller bills. Probably go with a mix of $50, $100, $500.

I will see what they have available. They are getting ready to close the bank on this base due to military drawdown.

[ftruck7]

Dragon, can you get a pic?

[VIZIOIRAQI]

I'm currently working on a base in Iraq that has a Warka Bank.

I have seen the lower denominations, as low as $5.

I plan to exchange $100 US (117,000) for some smaller bills. Probably go with a mix of $50, $100, $500.

I will see what they have available. They are getting ready to close the bank on this base due to military drawdown.

We've had people over there try to get the smaller notes and the smallest at the time they could get was a 250 note, but now it looks like the 50 is back in circulation, so try to get those , and anything smaller you can. Please keep us up to date .

Thanks

VIZIO

[ddhubble]

Here is the link to the CBI site for the current notes in use by the bank.

http://www.cbi.iq/index.php?pid=Banknotes

There is only 9 on the CBI site.

The article posted is from: Episode 6 Synopsis: The Financial Sector and Money MarketsAirdate: August 6, 2005

http://search.cipe.org/search?q=cache:3B0GSLxHiWY:http://www.cipe.org/regional/mena/iraq/pdf/bttv_synopsis_ep6.pdf+Iraqi+dinar+notes&ie=&site=cipe&output=xml_no_dtd&client=cipe&access=p&lr=&proxystylesheet=cipe&oe=

My question is what other notes or coins are they printing for the last 6 to be introduced into circulation for daily use?

What is the relation between the current used currency to the cost of purchasing food on a daily basis (how much does something cost)?

If the dinar is to revalue at lets say $3 mark. with the smallest coin used (25 dinar coin currently not in circulation) in purchasing an item be worth $75's.

I am not bashing by any means I am just currious to know how much something cost on a daily standard of living for food.

[hopefullbk]

I'm currently working on a base in Iraq that has a Warka Bank.

I have seen the lower denominations, as low as $5.

I plan to exchange $100 US (117,000) for some smaller bills. Probably go with a mix of $50, $100, $500.

I will see what they have available. They are getting ready to close the bank on this base due to military drawdown.

That would be awesome Dragon. As Vizio said, if you ca get a pic of anything 10 and under denomination, that would be great!

Thanks for your service as well, I greatly, greatly appreciate it!

[VIZIOIRAQI]

Here is the link to the CBI site for the current notes in use by the bank.

http://www.cbi.iq/in...p?pid=Banknotes

There is only 9 on the CBI site.

The article posted is from: Episode 6 Synopsis: The Financial Sector and Money MarketsAirdate: August 6, 2005

http://search.cipe.o...esheet=cipe&oe=

My question is what other notes or coins are they printing for the last 6 to be introduced into circulation for daily use?

What is the relation between the current used currency to the cost of purchasing food on a daily basis (how much does something cost)?

If the dinar is to revalue at lets say $3 mark. with the smallest coin used (25 dinar coin currently not in circulation) in purchasing an item be worth $75's.

I am not bashing by any means I am just currious to know how much something cost on a daily standard of living for food.

IN IRAQ A 25 DINAR COIN WILL REMAIN A 25 DINAR COIN , BUT OUTSIDE IRAQ IT WILL BE WORTH MORE DEPENDING ON WHERE THEY GO.

[DragonCruiser]

That would be awesome Dragon. As Vizio said, if you ca get a pic of anything 10 and under denomination, that would be great!

Thanks for your service as well, I greatly, greatly appreciate it!

I will try to get to the Warka Bank before they close up for good. I work nights and the cashier is only open for a few hours.

[iqdheadlines]

So this leaves me guessing that the cheapest thing to buy in Iraq cost roughly about $0.50 US, with that being said then they must to use the US currency over there as well more than the Iraqi Dinar because I believe there has to be at least somethings cost less than $0.50 US or 50 Dinar.

The only way people in Iraq can purchase things that cost less than $0.50 or 50 Dinar is by using the US currency.

So when they stop using the US currency they will have smaller bank note and coins.

[Keep the Faith]

Here is the link to the CBI site for the current notes in use by the bank.

http://www.cbi.iq/index.php?pid=Banknotes

There is only 9 on the CBI site.

The article posted is from: Episode 6 Synopsis: The Financial Sector and Money MarketsAirdate: August 6, 2005

http://search.cipe.org/search?q=cache:3B0GSLxHiWY:http://www.cipe.org/regional/mena/iraq/pdf/bttv_synopsis_ep6.pdf+Iraqi+dinar+notes&ie=&site=cipe&output=xml_no_dtd&client=cipe&access=p&lr=&proxystylesheet=cipe&oe=

My question is what other notes or coins are they printing for the last 6 to be introduced into circulation for daily use?

What is the relation between the current used currency to the cost of purchasing food on a daily basis (how much does something cost)?

If the dinar is to revalue at lets say $3 mark. with the smallest coin used (25 dinar coin currently not in circulation) in purchasing an item be worth $75's.

I am not bashing by any means I am just currious to know how much something cost on a daily standard of living for food.

Sorry I may be reading your comment wrong. But if there are 14 currencies being introduced and 9 are already on the CBI's website, how did you get 6 new currencies? And I would think they will have to make currencies that are smaller than a dinar. IMO their currency won't change over there it will just go further and they will feel wealthy.

[Dinar Holder]

post a pic of these smaller dinars

[sortarius]

I have seen the lower denominations, as low as $5.

Maybe I am just being thick here, but what would a current $5 dinar get you...if their currency is currently one, one thousanth of a dollar, it would seem like thats trying to buy a super sized big mack meal with a nickel. Can anyone please set me on the right track here.

[Bucko]

Link picked up on another post.

http://www.cipe.org/regional/mena/iraq/pdf/bttv_synopsis_ep6.pdf.

Text extract.

The three guests from the Central Bank discussed the bank's plan to enhance the Iraqi banking sector and financial markets throughout 2006. They highlighted a series of steps that have already been taken, including:·

Establishing the Central Bank's independence from the Ministry of Finance·

Training 70% of the bank's staff on international best practices·

Printing a series of 14 new Iraqi Dinar notes and coins.

However, guests on the show representing private banks and the private sector, as well as average Iraqis interviewed on the street, voiced the following concerns about the policies of the Central Bank:· There is only one financial market within Iraq, the Iraq Stock Exchange, which is dominated by a few key players.· The procedures for participating in the Iraq Stock Exchange are very cumbersome. For example, it takes 45 days for a certificate to be issued to a new stockholder.· Private banks require support from the Central Bank to obtain training for their staff in areas such as information technology, international best practices, and English.· Checks issued by private banks are not accepted by state and government entities.Aldiyar Satellite Broadcasting presents:Episode 6 Synopsis: The Financial Sector and Money MarketsAirdate: August 6, 2005Economic Files does not necessarily reflect the views of CIPE

I read that to mean that they have printed new money??

[ctoddy]

The gist is that initially they printed the 1, 5, 10, 20s that they would need when the currency became worth more. They cannot RV without a smaller currency. Can't.

[DragonCruiser]

So this leaves me guessing that the cheapest thing to buy in Iraq cost roughly about $0.50 US, with that being said then they must to use the US currency over there as well more than the Iraqi Dinar because I believe there has to be at least somethings cost less than $0.50 US or 50 Dinar.

The only way people in Iraq can purchase things that cost less than $0.50 or 50 Dinar is by using the US currency.

So when they stop using the US currency they will have smaller bank note and coins.

The word with the locals is that are to suppose to stop using USD. I'm assuming that is why some are going to Warka to change out when they leave the base.

Of course, there are always going to be some that want to get as much USD as they can.

I did not make it to the bank today before the cashier closed. I believe they are closed tomorrow (25th). I will try again next week.

[racbluto]

It is my belief that they could still RV even with out the small denominations of dinar. They could continue using US small denominations until they brought out the fills and smaller dinar notes.

[iqdheadlines]

It is my belief that they could still RV even with out the small denominations of dinar. They could continue using US small denominations until they brought out the fills and smaller dinar notes.

They already have the smaller notes and even coins for release at banks in Iraq once the RV occures.

RV 26 DEC 2010 !!!!!!!!!!!!!!!!!!!!!!!!

[racbluto]

They already have the smaller notes and even coins for release at banks in Iraq once the RV occures.

RV 26 DEC 2010 !!!!!!!!!!!!!!!!!!!!!!!!

Very true but the US dollar is already used by the public there so the transition would be easy. Come on Shabs "Just do it" LOL

[DragonCruiser]

Made it today to Warka Bank before Cashier closed.

I asked about smaller bills, but they said nothing smaller than $50 dinar. I told him I was pretty sure I saw a $5 before when I was at the bank that was given a customer. He said it might have been a $5000 note folded up in the customers hand.

I guess I was wrong. I apologize to everyone.

They did have the following:

25K

10K

5K

1K

$500

$250

$50

I took my $120 USD and exchanged for $140,400 dinars. Rate is at 1170 to 1 USD.

110x $1000 = $110,000 dinars

100x $250 = $25,000dinars

108x $50 = $5400 dinars

I will post pics of the three notes I have above. I will have to get someone to take pic and download/upload for me. I cannot do that on Govt computer.

[pokerplayer]

DragonCruiser , no need to post the pics as they are readily available on the CBI website. Thxs for trying tho.

pp

[DragonCruiser]

Ok.

Thanks PP. Saves me the trouble.

[jack]

I know someone who just got back from Iraq.

We were talking about the dinar and I asked if he had some and he told me "not much" "Just a few notes"

I asked him what notes did he have and he told me 10 dinar and 5 dinar!

I asked him more and he showed me his 10 dinar note. He pulled it from his wallet and it was a 10,000 dinar note!

I said I thought you said it was a 10 dinar note and he said yes, that is what it is a 10 dinar!

Turns out that is what some of our troops call a 10,000 dinar note a 10 dinar note and the 5,000 dinar note a 5 dinar note.

So do not be suprised to find out the 5 dinar note this guy says he saw is in fact a 5,000 dinar note.

Just sayin.