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CBI replace damaged small currency


edbeach
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Experts claim citizens of small currency and Central undertakes to replace damaged

Date: Saturday 30-07-11 12: 20 pm

Baghdad (News)/report/Hussein Faleh/... Economists called on citizens to deal with a small currency in support of the Iraqi dinar, in exchange of the citizen and the Bank accepts no responsibility for circulation in the market, while the Central Bank pledged to replace damaged currency.

A number of experts speaking (News News Agency) today, few of these groups led to the fact that some vendors to increase the price of the article sold.

Director of Rafidain Zia added in a statement to a reporter (News Agency news) Saturday: Iraqi banks full of small currency category (250, 500, 1000), but the absence of Sweeper by citizens and even staff led to accumulation, noting that State refuses to receive paid services, estimated at billions of small currency even proportion (5%) Of them.

He added: the small coins in the Iraqi market is virtually missing but are available at banks and large.

According to General Manager of Rafidain Bank when it comes to salaries (inlaid) with small currencies are us complaints by citizens and employees, therefore we are forced to spend large currency salaries only.

From the Central Bank Adviser, said the appearance of Mohamed Saleh told reporter (News Agency for news) Saturday: this small currency from banks was not returned to the Central Bank until new currency noudaha, noting that banks receive large currency only because few quantities and costs counted and sorted the simplest, this is why we must restore Iraqi currency structure to delete three zeros from the currency.

He Mohammed Saleh: we have set aside a day of the week lnstkobl of small currency banks damaged noudaha modern categories without any cost, noting that the Central Bank stands ready to provide the banks with any amount of small coins.

We said if they have been compensated by small groups of banks, there was no need to print intermediate currencies with category (2000, 3000) dinars.

He said if there were an average work, this does not mean that the Iraqi currency will strengthen but merely a means to facilitate the payment currency.

The mineral groups if we are to make it easier to work with a lot of things that big old extends to more than 15 years.

With the Chairman of the Board of Directors of the Bank the economy need to Hussam Obeid returns coin as it was previously in place to strengthen Iraqi dinars.

Added on: small currency acceptable to the Iraqi market, if the value is planning to make the dinar value against the dollar and this is through the printed coins to strengthen Iraqi currency.

Said Mohammed Jabbar (retired): most banks conduct US currency salaries with small groups and contains a lot of damaged banknotes so that each can only be dealt with and rejected by the vendors.

As explained by ' Ali (Abu Husam) that a few small groups in the local market that generates major embarrassment when you buy any material which leads to the fact that the seller to increase the price of article sold./finished/8 r. Eng.

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31 July 2011 - 01:26 AM, said:

Here is link

www.ikhnews.com/news_views_17340.html

Is it possible for someone to translate this to Engrish for me? I have issues reading convoluted sidebackwards Iraqi !

hahahhah i saw uuu coming uuuu ait going to get m,e buddy i will keeep c,lear of ypour clawssss iiiii hate you beagles coz uuu r just delayiung the dinar from happing for me to bve rich n happpppy

Wow... I would get that keyboard replaced mate! Too many sticking keys!

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it, to me looks like we are going to get our rv, they have the coins and will release them first til all the paper is returned. i wish the translation was better.

"small currency acceptable to the Iraqi market, if the value is planning to make the dinar value against the dollar and this is through the printed coins to strengthen Iraqi currency"

it looks like they want the dinar to be worth the dollar, it would make the most sense, all oil is paid in usd .........now our dollar isnt really worth a dollar though, i believe its worth more like .70 some cents.

He Mohammed Saleh:" we have set aside a day of the week lnstkobl of small currency banks damaged noudaha modern categories without any cost, noting that the Central Bank stands ready to provide the banks with any amount of small coins"

granted saleh talks out of both sides of his mouth, but if he is correct, it looks like they want to pick a day real soon to do this. how can they have small coins at 1170, goods dont cost less, they would have no other option but to raise the value, if the coins are 25 dinar-50 dinar-100 dinar coins they would have to be close to the us dollar to avoid confusion. it would be good to know the denoms of the coins, then we could better speculate on the rate.

p.s dalite happy b-day tomm.

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it, to me looks like we are going to get our rv, they have the coins and will release them first til all the paper is returned. i wish the translation was better.

"small currency acceptable to the Iraqi market, if the value is planning to make the dinar value against the dollar and this is through the printed coins to strengthen Iraqi currency"

it looks like they want the dinar to be worth the dollar, it would make the most sense, all oil is paid in usd .........now our dollar isnt really worth a dollar though, i believe its worth more like .70 some cents.

He Mohammed Saleh:" we have set aside a day of the week lnstkobl of small currency banks damaged noudaha modern categories without any cost, noting that the Central Bank stands ready to provide the banks with any amount of small coins"

granted saleh talks out of both sides of his mouth, but if he is correct, it looks like they want to pick a day real soon to do this. how can they have small coins at 1170, goods dont cost less, they would have no other option but to raise the value, if the coins are 25 dinar-50 dinar-100 dinar coins they would have to be close to the us dollar to avoid confusion. it would be good to know the denoms of the coins, then we could better speculate on the rate.

wow, thanks for the breakdown sonny, I just read bondlady's post and she broke it down really well. It would make sense for them to start out around the dollar and work their way up. This way transactions can be handled alot smoother and confusion will be minimal within the country.

:) :) :)

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it, to me looks like we are going to get our rv, they have the coins and will release them first til all the paper is returned. i wish the translation was better.

"small currency acceptable to the Iraqi market, if the value is planning to make the dinar value against the dollar and this is through the printed coins to strengthen Iraqi currency"

it looks like they want the dinar to be worth the dollar, it would make the most sense, all oil is paid in usd .........now our dollar isnt really worth a dollar though, i believe its worth more like .70 some cents.

He Mohammed Saleh:" we have set aside a day of the week lnstkobl of small currency banks damaged noudaha modern categories without any cost, noting that the Central Bank stands ready to provide the banks with any amount of small coins"

granted saleh talks out of both sides of his mouth, but if he is correct, it looks like they want to pick a day real soon to do this. how can they have small coins at 1170, goods dont cost less, they would have no other option but to raise the value, if the coins are 25 dinar-50 dinar-100 dinar coins they would have to be close to the us dollar to avoid confusion. it would be good to know the denoms of the coins, then we could better speculate on the rate.

p.s dalite happy b-day tomm.

It appears that the 25 and 100 dinar coins are ready to go.

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

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i wonder if they would release those 25-100 coins, im sure alot of them were stolen through the years, i wonder if they have a new coin type they will be releasing.

'Sonny1',

Good morning!

Well, I am hoping we will see what type of coins VERY, VERY soon, HOPEFULLY next week.....!!

Have a good day,

GG

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Would they release those coins knowing that they are worth a pebble? I think not cool.gif

nope, when they release the new coins they will introduce the new rate imho.

They have even said the Coins will be the Strength of the iraqi currency so that means to me once they are released they will have revalued.

Edited by easyrider
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i wonder if they would release those 25-100 coins, im sure alot of them were stolen through the years, i wonder if they have a new coin type they will be releasing.

lol.....and I just checked ebay.....you can pick some up there........leaves me scratching my head.

nope, when they release the new coins they will introduce the new rate imho.

They have even said the Coins will be the Strength of the iraqi currency so that means to me once they are released they will have revalued.

Agreed....a 25 dinar coin is currently worth about 2 cents.....let's see you carry a pocket full of those! So, currently a vendor could make change with a 50 dinar note and nothing less.....no wonder today's article talks about having to adjust prices just to meet purchasing ability. We already know you can't make change on near-zero valued currency. This thing is very close to ending.

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nope, when they release the new coins they will introduce the new rate imho.

They have even said the Coins will be the Strength of the iraqi currency so that means to me once they are released they will have revalued.

my thoughts exactly!!!! B)

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Somewhere I read an article here that said the new coins cost more than they be worth. If I understood it correctly, they would then have to bring up the value of them. Or was that an article on the old coins.....I don't know, I was drinking a gin and tonic at the time. :unsure:

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Somewhere I read an article here that said the new coins cost more than they be worth. If I understood it correctly, they would then have to bring up the value of them. Or was that an article on the old coins.....I don't know, I was drinking a gin and tonic at the time. :unsure:

hahahhahahahahha B)

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