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Dinar News Plan to increase the value of the dinar against the dollar and the deletion of three

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Plan to increase the value of the dinar against the dollar and the deletion of three zeroes

2/8/2010 7:17:16 PM

اعدت وزارة المالية خطة لزيادة قيمة الدينار مقابل الدولار ومن ثم حذف ثلاثة اصفار من قيمة الدينار للاسهام في النهوض بواقع الاقتصاد العراقي خلال الفترة المقبلة فيما نفى البنك المركزي العراقي الشائعات الخاصة بجعل الدولار يساوي 1000 دينار وقال بيان صادر عن وزارة المالية : ان وزيرها باقر جبر اكد خلال زيارته الاخيرة الى العاصمة الاردنية عمان ان لدى البنك المركزي العراقي خزينا ماليا يقدر بـ22 مليار دولار وثلاثة اطنان من الذهب مخصصة لدعم الدينار العراقي.

Finance Ministry has prepared a plan to increase the value of the dinar against the dollar and then delete the three zeroes from the dinar's value to contribute to the advancement of the Iraqi economy during the coming period with the Iraqi central bank denied the rumors making the dollar worth 1000 dinars and said in a statement issued by the Ministry of Finance:, the Minister Baqir Jabr said During his recent visit to the Jordanian capital Amman, said the CBI chagrin financially estimated $ 22 billion and three tons of gold intended to support the Iraqi dinar.

واضاف ان السياسة المالية الناجحة المتبعة في العراق ساهمت في رفع قيمة الدينار العراقي مقابل الدولار منوها بان سعر صرف الدولار انخفض بشكل ملحوظ خلال العام الحالي ،مؤكدا ان كل الجهود ستصب لحذف ثلاثة اصفار من قيمة الدينار.

He said that successful fiscal policy pursued in Iraq have contributed to increasing the value of the Iraqi dinar against the dollar, noting that the dollar exchange rate dropped significantly during the current year, stressing that all efforts will be channeled to the deletion of three zeros from the value of the dinar.

من جهة اخرى نفى مصدر مخول في البنك المركزي العراقي الشائعات الخاصة بجعل الدولار يساوي 1000 دينار او تغيير فئات العملة او رفع اصفار من العملة الحالية.

On the other hand denied the authoritative source in the Iraqi Central Bank rumors making the dollar worth 1000 dinars, or a change denominations or raise zeros from the current currency.

واشار في تصريح صحفي الى ان البنك يتابع باهتمام بالغ ظاهرة انخفاض الطلب على الدولار في اسواق الصرف المحلية مؤكدا ان مثل هذه المعلومات او الشائعات المحيطة بها الهدف منها تحقيق مكاسب تجارية طارئة لبعض المنتفعين على حساب الجمهور.

He said in a press statement that the bank has been following with great interest the phenomenon of low demand for the dollar in the local exchange markets, stressing that such information or rumors surrounding the aim of achieving commercial gain emergency for some users at the expense of the public.

Link: http://www.foratnews.com/paper.asp?ID=8383

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joe-dinar Newbie

joe-dinar

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Same as above only In Plain English without all the Arabic is easier to read:

Plan to increase the value of the dinar against the dollar and the deletion of three zeroes

Finance Ministry has prepared a plan to increase the value of the dinar against the dollar and then delete the three zeroes from the dinar's value to contribute to the advancement of the Iraqi economy during the coming period with the Iraqi central bank denied the rumors making the dollar worth 1000 dinars and said in a statement issued by the Ministry of Finance:, the Minister Baqir Jabr said During his recent visit to the Jordanian capital Amman, said the CBI chagrin financially estimated $ 22 billion and three tons of gold intended to support the Iraqi dinar. He said that successful fiscal policy pursued in Iraq have contributed to increasing the value of the Iraqi dinar against the dollar, noting that the dollar exchange rate dropped significantly during the current year, stressing that all efforts will be channeled to the deletion of three zeros from the value of the dinar.

On the other hand denied the authoritative source in the Iraqi Central Bank rumors making the dollar worth 1000 dinars, or a change denominations or raise zeros from the current currency.

He said in a press statement that the bank has been following with great interest the phenomenon of low demand for the dollar in the local exchange markets, stressing that such information or rumors surrounding the aim of achieving commercial gain emergency for some users at the expense of the public.

http://dinarvets.com/forums/showthread.php?9428-Plan-to-increase-the-value-of-the-dinar-against-the-dollar-and-the-deletion-of-three

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john holmes Newbie

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He said that successful fiscal policy pursued in Iraq have contributed to increasing the value of the Iraqi dinar against the dollar, noting that the dollar exchange rate dropped significantly during the current year, stressing that all efforts will be channeled to the deletion of three zeros from the value of the dinar.

what this paragraph means folks and i speak from a little experience is that at present the iqd is .00086 = 1 usd ..so if we delete the 3 zeros like the article states then the future rate of the iqd will be .86iqd = 1 usd

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NFL Newbie

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THIS CAME FROM A FRIEND AT ANOTHER FORUM

OK this article is getting picked up around the newspapers in iraq....Love how this title says "Soon":

Sunday, 07/02/2010 | 11:16

Soon .. Delete the zeros of the Iraqi currency.

Soon .. Delete the zeros of the Iraqi currency.

المشاهدات : 20 Views: 20

Iraqi Central Bank is currently on the strategy to delete the zeroes of the Iraqi currency in and out of their face value while maintaining Bakimiteha cash and purchasing power.

Central Bank of Iraq adviser to the appearance of Mohammed Salih said that this year will witness the launch of the strategy, stressing that the bank has completed 50% of the preparations that are working on since 2005.

Saleh pointed out that the strategy is based on the principle of gradual substitution of the Iraqi currency with another is lower than in the nominal value, and pointed out that the positives of this strategy is that it will be less expensive and easier to trade.

For his part, sees Dr. Hilal Al-Tahan, that the application of such a strategy will not cause economic disruptions or damage in the local market at the present time, while the economic analyst is willing to find satisfaction بليبل that the timing of the launch of this strategy is not appropriate, noting that the country's economy must be in a position of strength before applying those changes.

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super Newbie

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Plan to increase the value of the dinar against the dollar and the deletion of three zeroes

2/8/2010 7:17:16 PM

اعدت وزارة المالية خطة لزيادة قيمة الدينار مقابل الدولار ومن ثم حذف ثلاثة اصفار من قيمة الدينار للاسهام في النهوض بواقع الاقتصاد العراقي خلال الفترة المقبلة فيما نفى البنك المركزي العراقي الشائعات الخاصة بجعل الدولار يساوي 1000 دينار وقال بيان صادر عن وزارة المالية : ان وزيرها باقر جبر اكد خلال زيارته الاخيرة الى العاصمة الاردنية عمان ان لدى البنك المركزي العراقي خزينا ماليا يقدر بـ22 مليار دولار وثلاثة اطنان من الذهب مخصصة لدعم الدينار العراقي.

Finance Ministry has prepared a plan to increase the value of the dinar against the dollar and then delete the three zeroes from the dinar's value to contribute to the advancement of the Iraqi economy during the coming period with the Iraqi central bank denied the rumors making the dollar worth 1000 dinars and said in a statement issued by the Ministry of Finance:, the Minister Baqir Jabr said During his recent visit to the Jordanian capital Amman, said the CBI chagrin financially estimated $ 22 billion and three tons of gold intended to support the Iraqi dinar.

واضاف ان السياسة المالية الناجحة المتبعة في العراق ساهمت في رفع قيمة الدينار العراقي مقابل الدولار منوها بان سعر صرف الدولار انخفض بشكل ملحوظ خلال العام الحالي ،مؤكدا ان كل الجهود ستصب لحذف ثلاثة اصفار من قيمة الدينار.

He said that successful fiscal policy pursued in Iraq have contributed to increasing the value of the Iraqi dinar against the dollar, noting that the dollar exchange rate dropped significantly during the current year, stressing that all efforts will be channeled to the deletion of three zeros from the value of the dinar.

من جهة اخرى نفى مصدر مخول في البنك المركزي العراقي الشائعات الخاصة بجعل الدولار يساوي 1000 دينار او تغيير فئات العملة او رفع اصفار من العملة الحالية.

On the other hand denied the authoritative source in the Iraqi Central Bank rumors making the dollar worth 1000 dinars, or a change denominations or raise zeros from the current currency.

واشار في تصريح صحفي الى ان البنك يتابع باهتمام بالغ ظاهرة انخفاض الطلب على الدولار في اسواق الصرف المحلية مؤكدا ان مثل هذه المعلومات او الشائعات المحيطة بها الهدف منها تحقيق مكاسب تجارية طارئة لبعض المنتفعين على حساب الجمهور.

He said in a press statement that the bank has been following with great interest the phenomenon of low demand for the dollar in the local exchange markets, stressing that such information or rumors surrounding the aim of achieving commercial gain emergency for some users at the expense of the public.

Link: http://www.foratnews.com/paper.asp?ID=8383

I posted this article at the first part of 2008 in another forum. Another one of the regurgitated or recirculated article Iraqi news papers likes to do with a new date saying 1000 dinars to one dollar. This is "Old news, lets move on please"!
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gideonx Newbie

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By removing the 3 zeros from the value of the dinar you increase the value of the dinar i.e. from .000866 to .866 ; or from .000866 to say .5 or even .1....... the value of the dinar is increased.

By removing the currency notes 25,000, 10,000 and 1000 from circulation and introducing smaller denomination notes during the interim period, the amount of the dinars in circulation will be drastically reduced..........since the exchange rate is now 1USD=1.14 IQD , 1USD =2 IQD or 1 USD = 10 IQD (as in the above examples)

Unlike the case of 1USD =1000 (as widely rumored) there is no need to carry a lot of dinars when the value of dinars has increased to 1 USD =2dinars (say)

The lop theorists may themselves be entangled in the theories............. :)

So don't worry.........nobody's interest willl be served......not IMF, not US, not Maliki, not Iraqis'............period!

just my 2 dinars worth

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wil Newbie

wil

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same as above only in plain english without all the arabic is easier to read:

Plan to increase the value of the dinar against the dollar and the deletion of three zeroes

finance ministry has prepared a plan to increase the value of the dinar against the dollar and then delete the three zeroes from the dinar's value to contribute to the advancement of the iraqi economy during the coming period with the iraqi central bank denied the rumors making the dollar worth 1000 dinars and said in a statement issued by the ministry of finance:, the minister baqir jabr said during his recent visit to the jordanian capital amman, said the cbi chagrin financially estimated $ 22 billion and three tons of gold intended to support the iraqi dinar. He said that successful fiscal policy pursued in iraq have contributed to increasing the value of the iraqi dinar against the dollar, noting that the dollar exchange rate dropped significantly during the current year, stressing that all efforts will be channeled to the deletion of three zeros from the value of the dinar.

On the other hand denied the authoritative source in the iraqi central bank rumors making the dollar worth 1000 dinars, or a change denominations or raise zeros from the current currency.

He said in a press statement that the bank has been following with great interest the phenomenon of low demand for the dollar in the local exchange markets, stressing that such information or rumors surrounding the aim of achieving commercial gain emergency for some users at the expense of the public.

http://dinarvets.com/forums/showthread.php?9428-plan-to-increase-the-value-of-the-dinar-against-the-dollar-and-the-deletion-of-three

anyone who believes the iraqi gov't is going to devalue the iqd with a lop.....is an absolute loony-tune.......don't listen to that crud.........it's a smokescreen

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joe-dinar Newbie

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Agreed. I only posted this in english so it could be better interpreted.

IMO

1. Rv and larger notes will be turned in for USD -- which will help phase out the 3 zero notes.

2. Smaller denominations will be distributed at the new ReValue Rate. -- which will help phase out the 3 zero notes. As people will exchange their large currency for smaller.

3. Larger 3 zero notes will gradually be phased out of circulation. (Not necessary be made worthless but no longer circulated.)

JMO

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kaperoni Newbie

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Joe, you are right on it. The only way they get the large notes is to RV. Remember they need to draw them in and gov wont do it unless they RV. They want payment for the cost of the war. Exactly as you state is how this will go down. Just waiting on the RV amount to be posted. Let's go i am tired.

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Rawl Newbie

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It is interesting how all the analysis is missing some very pertinent and key words or phrases. Firstly if this source is credible one must fully understand what message is being conveyed. Baqir Jabr said they will increase the value of the dinar and delete the zeros from the dinar value. The key words to my mind is "deletion of the zeros from the dinar value. The word value is not the same as removing the zeros from the currency. The article said he would not do that. The article also said that they were not going to increase the value to 1000 IQD to 1 US or change the demonination. Therefore that being said the bottom line based on my analysis is that the value to me means that if the value is .00087IQD = 1US it is more logical to interpret that the removal of the zeros based on value would be .87 IQD to 1US dollar. When eventually the large notes are surrendered based on the value, it would be replaced by the smaller notes in a concurrent coversion approach which will cause the larger notes to be taken off the market and the smaller notes taking preeminence. This is my humble submission, so shoot away skeptics.

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sonny1 Newbie

sonny1

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false news peeps!!!

torey, how can you prove its false, and the article that says there lifting the zeros and not raising the value is true. The other article that you were so happy to see is so fake, they cant drop the zeros and not revalue, unless they want to have all there people carrying 250 paper notes to go shopping at the market........ Come on use your head

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