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jxhal
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Delete the three zeroes from the Iraqi currency

Posted: July 8, 2011 by THE CURRENCY NEWSHOUND - Just Hopin in Iraqi Dinar/Politics

Tags: Central Bank of Iraq, Currency, Economy of Iraq, International Monetary Fund, Iraq, Iraqi dinar, Local currency, prime minister 0July 6 2011

From time to time ask the CBI idea of raising three zeros from the Iraqi currency, and announced that he is about to finish the final touches on this draft law to regulate the process of lifting to be sent to the Council of the Prime Minister and then to the House of Representatives to decide whether there is a need to raise three zeroes from the Iraqi currency or not, when he said a senior official in the monetary authority to the House of Representatives is the author of the recent decision in this regard.

Adviser says the Iraqi Central Bank: The project will organize a mechanism for lifting the three zeroes to promote the value of local currency in circulation economic, external and internal, and considered the project a strategic project aimed at reducing inflation experienced by the Iraqi market, and the Finance Ministry announced last February that the deletion of zeros from the local currency will liberate the Iraqi economy from the constraints and enhance the value of the Iraqi dinar in the IMF.

We believe that the draft raise three zeroes from the Iraqi currency is the glory and do not raise the value of the Iraqi dinar and will add when applied to the problem of several other dimensions to the many problems experienced by the Iraqi economy is deteriorating, and this problem is the confusion and disorganization of the market in buying and selling and debt among citizens, as well as confusion mental state that will plague the Iraqi people as a result of the emergence of a new phenomenon requires the intellectual and psychological stress of the back and accepted.

On the other hand requires the project and before applying SC small denominations of currency are parts of the dinar, which will be worth a penny, knowing that the minting these coins small would cost the state large sums of money, and that the project does not enhance the value of the Iraqi dinar (says the Ministry of Finance) where it will remain a value as (If you put equal amounts of the other equal results are equal).

In a statement differently from the Central Bank of Iraq that the process of removing three zeroes from the local currency is a complex process and need to study the economic extensively, also said adviser to the CBI we have to deal with this issue cautiously and carefully as they may cause economic problems in the event of rush or do any Another thing confuses the economic situation in Iraq.

And we say, Not wanting to pay the occurrence of such problems we see from the best and most effective project is put on the Iraqi public with a call to specialists in economics to indicate their opinion and familiarity with it before sending it to the prime minister and parliament.

And promises to start see the futility of the project – as we think – he does not raise the value of the Iraqi dinar, we aspire to adopt the CBI and economists project that aims to raise the value of the Iraqi dinar to its former value to return is equal to (3.33) U.S. $ through a package of actions and bold decisions, the first review of the operation import wrong and reduced to the extent necessities, as the import open wide drain excess foreign currency and deposited with the Central Bank of Iraq in support of the Iraqi currency, and not put up for sale by public auction for those wishing to by the Iraqi traders to cover Astiradathm of goods, as well as the review in order to reduce public spending to the state and its departments in regards to import furniture is expensive, as can be obtained from the local market, which encourages and supports the sector of local industry and create jobs for the unemployed, also support the development of the agriculture sector by helping farmers with seeds and agricultural machinery to increase the production of agricultural crops.

There are also other things to support the Iraqi currency, including: reducing operations Alaivadat staff and make it only for the purpose of training and development

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Very good post. This is the second time in as many days there has been an article / post mentioning the 3.33 rate. It would seem pretty clear about what they intend to do but with most of these articles they seem to be contridicting at times. I guess we won't really know untill it actually happens what the rate will be. It would also appear that they do realize that they can RV and by the mention of such a high rate this COULD be what may happen.

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Sorry not fluent but I would be happy to paraphrase this article for you.

The CBI would like to offer a bit more smoke and mirrors to baffle and confuse those that read this until we do what we are gonna do when we decide to do it.

Please watch my right hand while I work my magic with my left hand and by all means please pay no attention to the man behind the curtain.

Well said lol

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not only unnoficial web site recycle olds article, the article from above is from May recylced from years ago, all bs and opinion, nothing official, see all various name and minimal change in word on each article, since the start, you will be amaze how it's build up lol

http://translate.googleusercontent.com/translate_c?hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=auto&tl=en&u=http://www.mustakbal.net/ArticleShow.aspx%3FID%3D8787&usg=ALkJrhgZMZHdEAO0GCyXzJl8LkKYJKvSVA

Edited by chris2k4
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Sorry not fluent but I would be happy to paraphrase this article for you.

The CBI would like to offer a bit more smoke and mirrors to baffle and confuse those that read this until we do what we are gonna do when we decide to do it.

Please watch my right hand while I work my magic with my left hand and by all means please pay no attention to the man behind the curtain.

So Funny! :D

Thanks jxhal

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Definitely recycled, but still a great argument for the pros and cons of printing new currency and or removing the zeros.

To my knowledge, the currency was changed in 2004 . This currency has both Arabic and English language on it...

I find it very interesting that the Iraqi Dinar has the English language on one side.

Dame

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What is the lone ranger doing behind that rock,,, He don`t look like he is counting his dinar...or is that the mysterious,,,LONG,,,ranger ????---------------------Don`t tell my wife I did that on her space

Edited by leola
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not only unnoficial web site recycle olds article, the article from above is from May recylced from years ago, all bs and opinion, nothing official, see all various name and minimal change in word on each article, since the start, you will be amaze how it's build up lol

http://translate.goo...XzJl8LkKYJKvSVA

Then would you say that it's just the proverbial "smoke and mirrors"?

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Good Article ! B)

Thx for the post.

Who was that Masked Man?

You could ask Tonto, but he's not talking... your best bet is bribe Silver with an apple and some oats! HyO Silver... Away!!! (thks. masked man, good post). biggrin.gif

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When translated, the writer needs hooked on phonics.

We believe that the draft raise three zeroes from the Iraqi currency is the glory and do not raise the value of the Iraqi dinar and will add when applied to the problem of several other dimensions to the many problems experienced by the Iraqi economy is deteriorating, and this problem is the confusion and disorganization of the market in buying and selling and debt among citizens, as well as confusion mental state that will plague the Iraqi people as a result of the emergence of a new phenomenon requires the intellectual and psychological stress of the back and accepted.

Just out of curiosity, aside from smoke and mirrors, if they lift the zeros and do not raise the value, would this not mean that if the current exchange rate was say 1 USD = 1000 dinar, that now 1 USD would = 1 dinar?

I would think otherwise, if you delete the zeros and do not raise the exchange that the money is now even more worthless.

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not only unnoficial web site recycle olds article, the article from above is from May recylced from years ago, all bs and opinion, nothing official, see all various name and minimal change in word on each article, since the start, you will be amaze how it's build up lol

http://translate.googleusercontent.com/translate_c?hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=auto&tl=en&u=http://www.mustakbal.net/ArticleShow.aspx%3FID%3D8787&usg=ALkJrhgZMZHdEAO0GCyXzJl8LkKYJKvSVA

This is from currency rumorhound news. Never a link and always pumping for hits. More clicks, more money for groovgal aka justhopin and many more user names. if it links back to a site with a "me' in the link it is from currency rumorhound news.

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Sorry not fluent but I would be happy to paraphrase this article for you.

The CBI would like to offer a bit more smoke and mirrors to baffle and confuse those that read this until we do what we are gonna do when we decide to do it.

Please watch my right hand while I work my magic with my left hand and by all means please pay no attention to the man behind the curtain.

tongue.giftongue.giftongue.gif Don't look too hard... you might find something behind that curtain you don't wanna see! Just sayin! GO RV Already! cool.gif

Edited by RodandStaff
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