The central bank began to raise the value of the Iraqi dinar,

[VIZIOIRAQI]

Financial representative denies mentioning the issue of changing the Iraqi currency

26/06/2011 10:48

Sulaimaniya, June 26 (Rn) - A member of the Finance Committee in the House of Representatives of Iraq, that the committee did not address the issue until now to change the Iraqi currency.Iraqi dinar, Iraq money She said Najiba Najib told the Kurdish news agency (Rn) that he "had not been talking so far in the Finance Committee representative on the issue of changing the Iraqi currency, having met some time ago the Governor of Central Bank of Iraq and the Minister of Finance, has not had discussions in this regard so far."

She Najiba that "the Iraqi dinar exchange rate compared with the U.S. dollar is stable at the present time, the central bank could maintain the stability of the Iraqi dinar exchange rate against the dollar."

"The currency change would not cause a rise in the value Aldenarabraghi, and there are a number of accounting measures should be taken by the central bank, in order to stabilize the dinar exchange rate, including the buying and selling bonds, and dealing with international banks in various countries."In order to obtain additional information on this subject, tried (Rn) Contact agent of the Ministry of Finance of Iraq, but Almmhaullac failed to connect.

And we are talking some time ago in the Iraqi media regarding the change of currency, and issuing a new currency, and is noted that there are changes will occur in the form of new Iraqi currency, including the removal of zeros, and the inclusion of the Kurdish language to the Arabic language in the currencies.He was adviser to the CBI the appearance of Mohammed Saleh, said in an earlier statement (Rn) that "the central bank decided to Aelchora the execution of the strategic and long-term, in order to reorganize the Iraqi currency and the currency system in the development of the country."

"The central bank began to raise the value of the Iraqi dinar, the currency and the issuance of a large class of equivalent value (100) the American dollar is likely to contribute to bridging the economic gap in the financial system in the country." Noting that "the project in progress, and needs to support the government and the parliament."He expressed the IMF in August / August, during the implementation of a number of economic measures, support for the Iraqi economy, in the privatization of banks, and the removal of zeros from the Iraqi currency, and the granting of loans and compensation.

There has been several changes to the Iraqi currency, was most recently in 2004, after it was rejected by the currency back to the reign of the former regime.

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[Matilda]

Financial representative denies mentioning the issue of changing the Iraqi currency

26/06/2011 10:48

ok. 3 sentences that contradict each other....smh sheesh...will it ever end??

"the Iraqi dinar exchange rate compared with the U.S. dollar is stable at the present time, the central bank could maintain the stability of the Iraqi dinar exchange rate against the dollar."

"The currency change would not cause a rise in the value Aldenarabraghi,

"The central bank began to raise the value of the Iraqi dinar,

the currency and the issuance of a large class of equivalent value (100) the American dollar is likely to contribute to bridging the economic gap in the financial system in the country." Noting that "the project in progress, and needs to support the government and the parliament

http://translate.goo...2F2%2F248581%2F

[DRV1804]

The more articles I read like this....it makes me more and more of a believer that the "removal of the three zeros" is not a LOP!! It is in the same sentence with the changing of the Iraqi currency. Which IMO means they are going to make smaller bills!! Great post!!!!!! TY Vizio!!

[cisole]

[WorkerBee]

Sounds like contradictions but probably just lost in translation. This reads like a big fat across the board redenomination to me.

[matlok12]

Sounds like contradictions but probably just lost in translation. This reads like a big fat across the board redenomination to me.

I agree.....contradiction,translation,smoke,face value.........I cant help but think a RD is what we are in for.

[Mr.Nobody]

"The central bank began to raise the value of the Iraqi dinar, the currency and the issuance of a large class of equivalent value (100) the American dollar is likely to contribute to bridging the economic gap in the financial system in the country." Noting that "the project in progress, and needs to support the government and the parliament."He expressed the IMF in August / August, during the implementation of a number of economic measures, support for the Iraqi economy, in the privatization of banks, and the removal of zeros from the Iraqi currency, and the granting of loans and compensation.

Okay, CHIME TIME...

As quoted above, I just want to throw this out there...

"the currency and the issuance of a large class of equivalent value (100) the American dollar.....etc...

I was just thinking that it sounds like they could print a new bill...A 100,000 Dinar note...

How did I come to this...Well, four 25,000 notes are worth right now, about 100 USD, hence, a 100,000 dinar note...(25k x 4 = 100k)

This would mean, IF TRUE, that there would only be 10 notes per million instead of 40, making large transaction easier...

I do not know if this has anything to do with the revalue of the dinar, only the way I read the statement above...(or I just don't get it)

Then the last part about the removal of zeros confusses me....

Hopefully something is lost in the translation....Just wondering....

I could be reading this wrong???

Somebody straighten me out...

Edited June 26, 2011 by Mr.Nobody

[k98nights]

bump

[Dalite]

Bump just means to keep the discussion on the first page of new forum items, or as a sign of agreement .

It's all good

[PacoTaco]

usually someone will post a word bump to bring the post back to the front of other posts.

[WorkerBee]

"and issuing a new currency, and is noted that there are changes will occur in the form of new Iraqi currency, including the removal of zeros, and the inclusion of the Kurdish language to the Arabic language in the currencies"

This is just my take on this wording but it seems to me if they are going to introduce a new iraqi currency and delete the three zeros, it will closely resemble the US currency denominations. 100's, 50's, 20's etc.

[brbrlocke]

usually someone will post a word bump to bring the post back to the front of other posts.

Good to know....I was afraid K98 fainted...

[dinarck]

"The central bank began to raise the value of the Iraqi dinar, the currency and the issuance of a large class of equivalent value (100) the American dollar is likely to contribute to bridging the economic gap in the financial system in the country." Noting that "the project in progress, and needs to support the government and the parliament."He expressed the IMF in August / August, during the implementation of a number of economic measures, support for the Iraqi economy, in the privatization of banks, and the removal of zeros from the Iraqi currency, and the granting of loans and compensation.

Okay, CHIME TIME...

As quoted above, I just want to throw this out there...

"the currency and the issuance of a large class of equivalent value (100) the American dollar.....etc...

I was just thinking that it sounds like they could print a new bill...A 100,000 Dinar note...

How did I come to this...Well, four 25,000 notes are worth right now, about 100 USD, hence, a 100,000 dinar note...(25k x 4 = 100k)

This would mean, IF TRUE, that there would only be 10 notes per million instead of 40, making large transaction easier...

I do not know if this has anything to do with the revalue of the dinar, only the way I read the statement above...(or I just don't get it)

Then the last part about the removal of zeros confusses me....

Hopefully something is lost in the translation....Just wondering....

I could be reading this wrong???

Somebody straighten me out...

This too is what Drox brought to the table as a possibility and I really do hope that it is the case. As a matter of fact the way it is worded in this article, that is the way it seems but soemthing is telling me no. I really can't put my finger on it but it sounds like the translation is bad in this sentence.

"The central bank began to raise the value of the Iraqi dinar, the currency and the issuance of a large class of equivalent value (100) the American dollar is likely to contribute to bridging the economic gap in the financial system in the country".

Now this could mean that they are going to introduce a 100,000 note but why would they do that if they were just going to remove three zeros from it like they say. I mean why introduce a 100,000 note when you are about to introduce new lower denoms with a 100 included?

What I am afraid the above sentence is telling us is that they will bridge the economic gap by beginning to raise the value of the dinar by bringing the exchange rate or value from .00085 to 1.00 as they remove the zeros. They are saying they will remove zeros and they are saying they will bring the value of the new RDed dinar in line with the USD.

I really hope I am wrong here and if anyone has better insight then I think a discussion on this is important. Would really like to hear from Drox. I think he has probably thought this through deeper than me.

[Derek2011]

I say all of this is a bunch of propaganda designed to keep currency investors at bay while alerting the Iraqi people that there is an impending change. The proof is in the inconsistency of their articles, pretty much, none of them are in agreement and revalue is never really mentioned. So now that they have us all looking at the right hand... what is the left hand doing? I think it is a genius way to keep us confused while preparing the Iraqi people for change without disclosing their true motives to keep from having a rush on Dinar. What do you guys think?

[Serenity]

I say all of this is a bunch of propaganda designed to keep currency investors at bay while alerting the Iraqi people that there is an impending change. The proof is in the inconsistency of their articles, pretty much, none of them are in agreement and revalue is never really mentioned. So now that they have us all looking at the right hand... what is the left hand doing? I think it is a genius way to keep us confused while preparing the Iraqi people for change without disclosing their true motives to keep from having a rush on Dinar. What do you guys think?

Excellent!! Wanted to say that for a while now......

[easyrider]

I say all of this is a bunch of propaganda designed to keep currency investors at bay while alerting the Iraqi people that there is an impending change. The proof is in the inconsistency of their articles, pretty much, none of them are in agreement and revalue is never really mentioned. So now that they have us all looking at the right hand... what is the left hand doing? I think it is a genius way to keep us confused while preparing the Iraqi people for change without disclosing their true motives to keep from having a rush on Dinar. What do you guys think?

Absolutely agree with you. I won't believe these articles until something happens because saleh and these articles have been very contradiciting to say the least.