raise zeros from dinar and currency exchange

[jupitergirl]

http://translate.google.com/translate?hl=en&sl=ar&u=http://www.nakhelnews.com/pages/news.php%3Fnid%3D2520&prev=/search%3Fq%3Dnahrain%26hl%3Den%26prmd%3Div&rurl=translate.google.com&twu=1

check out last paragraph !

[Don & Rocio]

"Maliki calls for Allawi not to boycott the next government and the province would harm first of all Iraqi "

This article says nothing about dinar...

[jupitergirl]

Try this:

Forum Home > Central Bank of Iraq (CBI) News > Central Bank of Iraq is preparing to replace the currency after the cancellation of three zeros from

Posts: 765 Central Bank of Iraq is preparing to replace the currency after the cancellation of three zeros from

Friday 12 - 08-2011

Palm - The Central Bank of Iraq completing the preparation of a plan to replace the current banknotes after the cancellation of three zeros, and include 30 trillion dinars (26 billion dollars), is the value of expected cash bloc, stressing that the timing will be determined by the government and parliament, Iraqi.

The expert said the first in the Central Bank of Iraq the appearance of Mohammed Saleh, during a media statement: Our problem lies in the current issue of the timing of replacement of the currency, they must choose a date suitable to implement the project without hindrance.

Before, and the Central Bank announced its intention to raise three zeroes from the Iraqi dinar, after suffering from inflation and the decline during the nineties the past by economic sanctions, its value has tumbled to become the world today, about 1120 dinars per dollar.

The central bank adopted after 2003 a new mechanism to maintain the exchange rate of the dinar, is to create an auction foreign exchange to sell quantities of the dollar, resulting from the sale of oil in world markets, and transferred to the Development Fund for Iraq, which transforms in turn to the bank to sell in local currency, which helped to raise value of the dinar over the past years more than 2000 points.

And as for the size of the money supply or the size of cash flow by more than 30 trillion Iraqi dinars, equivalent to $ 26 billion, noting that the system of cash transactions in Iraq, after 2003, it became Mdolra, any market deal dinar and the dollar both, and this means a mass of cash circulating in the market but in foreign currency.

He continued favor and put in numbered accounts that the Iraqi currency or monetary bloc total traded home and that would be replaced after the cancellation of zeros will be in the range of 30 trillion dinars, but its value against foreign currencies would remain fixed .. This means that the Iraqi dinar exchange rate now would be equivalent to 1200 dinar per one dollar.

In regard to the most important variables that will come after the lifting of zeros, between the appearance of the central bank solid plan to rearrange the currency to reduce the number of banknotes in circulation, and this is positive and the payments system here would be Iraqi easier.

Economists warned that the process of replacing the Iraqi currency after the lifting of zeros Schoppea operations by a major corruption due to structural inaccuracies of Iraqi banks.

They emphasized that the processes of replacement of currency formerly accompanied the operations a major corruption cost the Iraqi economy a lot, but look for answers by saying that the process of replacing the currency in 2004, took place in exceptional circumstances, and the country under occupation and is administered by the Governor of an American civilian, and with this process was successful.

And sells the central bank through its daily auction, between 150 million and $ 190 million per day to clients of private banks and financial companies, a large proportion of them go Khawwalat external payment transactions of foreign trade.

And confirms the expert's central bank that the application of the new project to raise three zeroes from the Iraqi dinar and the currency exchange, will be according to mechanisms scalable in the form of do not feel the citizens, are put quantities in the market and the withdrawal of which is maintained by the government banks of the block and replace it, and it remains only in the possession of the citizens of the trading day, and can make any transactions in both currencies for existing and new, what's goods on the current price of 1000 dinars for example, a customer can give the seller the present paper the category of 1,000 dinars, as well as currency can give him a new category of one dinar.

http://translate.google.com/translate?hl=en&sl=ar&u=http://www.nakhelnews.com/pages/news.php%3Fnid%3D2520&prev=/search%3Fq%3Dnahrain%26hl%3Den%26prmd%3Div&rurl=translate.google.com&twu=1

Edited August 12, 2011 by jupitergirl

[Don & Rocio]

Thanks. Wish the Iraqi press would do two articles...one in arabic and one in English. This translate crap leaves way too much to interpretation.

[zigmeister]

Well that article does not bode well for the RV as I read it.

[Carrello]

"Maliki calls for Allawi not to boycott the next government and the province would harm first of all Iraqi "

This article says nothing about dinar...

If anyone boycotts the government and the GOI is not fully seated, there is no RV.

[zigmeister]

My link

apparently we are looking at two different stories, one posted and the one the link takes you to. So it would be nice to have the link to the post.

Edited August 12, 2011 by zigmeister

[Carrello]

"The Central Bank of Iraq completing the preparation of a plan to replace the current banknotes after the cancellation of three zeros, and include 30 trillion dinars (26 billion dollars), is the value of expected cash bloc, stressing that the timing will be determined by the government and parliament, Iraqi.

The expert said the first in the Central Bank of Iraq the appearance of Mohammed Saleh, during a media statement: Our problem lies in the current issue of the timing of replacement of the currency, they must choose a date suitable to implement the project without hindrance."

Timing, timing, timing. They are not talking about if, they are talking when.

He continued favor and put in numbered accounts that the Iraqi currency or monetary bloc total traded home and that would be replaced after the cancellation of zeros will be in the range of 30 trillion dinars, but its value against foreign currencies would remain fixed .. This means that the Iraqi dinar exchange rate now would be equivalent to 1200 dinar per one dollar.

IMHO this means nothing regarding the future exchange rate. They cannot announce it yet.

Economists warned that the process of replacing the Iraqi currency after the lifting of zeros Schoppea operations by a major corruption due to structural inaccuracies of Iraqi banks.

They emphasized that the processes of replacement of currency formerly accompanied the operations a major corruption cost the Iraqi economy a lot, but look for answers by saying that the process of replacing the currency in 2004, took place in exceptional circumstances, and the country under occupation and is administered by the Governor of an American civilian, and with this process was successful.

Coming down on corruption and was successful.

And confirms the expert's central bank that the application of the new project to raise three zeroes from the Iraqi dinar and the currency exchange, will be according to mechanisms scalable in the form of do not feel the citizens, are put quantities in the market and the withdrawal of which is maintained by the government banks of the block and replace it, and it remains only in the possession of the citizens of the trading day, and can make any transactions in both currencies for existing and new, what's goods on the current price of 1000 dinars for example, a customer can give the seller the present paper the category of 1,000 dinars, as well as currency can give him a new category of one dinar.

This is talking about making the transition easy for citizens, the dinar and dollars will co-exist, and with the introduction of the new lower denominations (they did not state lds) sellers will be able to make change.

Maybe I missed something, but all of this information has been presented before, and from where I sit, this is all positive. Call me optimistic.

[dinarck]

When they say the buyer can give 1000 of the exsisting or 1 of the new means only one thing unfortunately and its not good. This is no different than the 100 other articles like it. All we can do is hope it doesnt occur.

[Carrello]

The news has gone through cycles regarding the introduction of the new value, dropping zeroes, not loosing value, etc., and this is part of the education for the public, over, and over, and over. Now the news is reporting old information, but the new item is the date. Many officials have said the date cannot be revealed, over, and over, and over. Every step takes us closer to the goal. Considering the government will not publish a date, nor a date, I would say we are in the last stages of the education process, and are getting close to the implementation phase, which will drop from the sky like a thunder bolt.

[dinarck]

Well whatever drops from the sky I hope is something other than this because this is what we dont want. I hope you are right but we wait and see.

[Carrello]

When they say the buyer can give 1000 of the exsisting or 1 of the new means only one thing unfortunately and its not good. This is no different than the 100 other articles like it. All we can do is hope it doesnt occur.

I took it that the authors are using that as an example regarding the ability to make change, which they have not been able to do, and not a literal exchange. I seem to remember one of the original articles regarding the change issue, indicated it was an example. And, yes, it is the same at so many articles, but I think is part of the education process.

It is tough just sitting and waiting, isn't it? Especially when we are so close, IMHO. The speculation will make you crazy. If the speculation doesn't make you crazy, the translations will.

[zigmeister]

The news has gone through cycles regarding the introduction of the new value, dropping zeroes, not loosing value, etc., and this is part of the education for the public, over, and over, and over. Now the news is reporting old information, but the new item is the date. Many officials have said the date cannot be revealed, over, and over, and over. Every step takes us closer to the goal. Considering the government will not publish a date, nor a date, I would say we are in the last stages of the education process, and are getting close to the implementation phase, which will drop from the sky like a thunder bolt.

I agree, we won't know and for good reason, if people did know the date and the rate, investors out of Iraq or inside would make a rush on banks for the Iraqi dinar.

[Realdinar]

I took it that the authors are using that as an example regarding the ability to make change, which they have not been able to do, and not a literal exchange. I seem to remember one of the original articles regarding the change issue, indicated it was an example. And, yes, it is the same at so many articles, but I think is part of the education process.

It is tough just sitting and waiting, isn't it? Especially when we are so close, IMHO. The speculation will make you crazy. If the speculation doesn't make you crazy, the translations will.

Isnt it strange that no one that can legitimately translate these articles on this forum site? Its always interpretation after someone runs it through some translating website. With that being said, after reading these articles and also Iraqs past history, Im convinced we actually have a long ways to go before we make any money from this investment. After 8 long years one has to question what in the hell is iraq doing.

Edited August 12, 2011 by Realdinar

[Carrello]

This would be a tip off for the rate, which will not happen, and this same analogy has been printed many times. Someone is giving the press this analogy, and the press is using that as an example regarding the ability to make change, which they have not been able to do, and not a literal exchange.

[dinarck]

I took it that the authors are using that as an example regarding the ability to make change, which they have not been able to do, and not a literal exchange. I seem to remember one of the original articles regarding the change issue, indicated it was an example. And, yes, it is the same at so many articles, but I think is part of the education process.

It is tough just sitting and waiting, isn't it? Especially when we are so close, IMHO. The speculation will make you crazy. If the speculation doesn't make you crazy, the translations will.

I hate to beat the RD drum but there is really no question what they are saying anymore. There have been numerous articles saying they can use 1000 or 1 to buy the same item and in the same article they say they will base the redenomination on how Turkey did theirs. There is no way to see it any other way. I feel like a jerk here but thats the way I see it. Like I said, all we can do is hope it doesnt occur.

I took it that the authors are using that as an example regarding the ability to make change, which they have not been able to do, and not a literal exchange. I seem to remember one of the original articles regarding the change issue, indicated it was an example. And, yes, it is the same at so many articles, but I think is part of the education process.

It is tough just sitting and waiting, isn't it? Especially when we are so close, IMHO. The speculation will make you crazy. If the speculation doesn't make you crazy, the translations will.

I hate to beat the RD drum but there is really no question what they are saying anymore. There have been numerous articles saying they can use 1000 or 1 to buy the same item and in the same article they say they will base the redenomination on how Turkey did theirs. There is no way to see it any other way. I feel like a jerk here but thats the way I see it. Like I said, all we can do is hope it doesnt occur.

[double_duce_duce]

Try this:

Forum Home > Central Bank of Iraq (CBI) News > Central Bank of Iraq is preparing to replace the currency after the cancellation of three zeros from

Posts: 765 Central Bank of Iraq is preparing to replace the currency after the cancellation of three zeros from

Friday 12 - 08-2011

Palm - The Central Bank of Iraq completing the preparation of a plan to replace the current banknotes after the cancellation of three zeros, and include 30 trillion dinars (26 billion dollars), is the value of expected cash bloc, stressing that the timing will be determined by the government and parliament, Iraqi.

The expert said the first in the Central Bank of Iraq the appearance of Mohammed Saleh, during a media statement: Our problem lies in the current issue of the timing of replacement of the currency, they must choose a date suitable to implement the project without hindrance.

Before, and the Central Bank announced its intention to raise three zeroes from the Iraqi dinar, after suffering from inflation and the decline during the nineties the past by economic sanctions, its value has tumbled to become the world today, about 1120 dinars per dollar.

The central bank adopted after 2003 a new mechanism to maintain the exchange rate of the dinar, is to create an auction foreign exchange to sell quantities of the dollar, resulting from the sale of oil in world markets, and transferred to the Development Fund for Iraq, which transforms in turn to the bank to sell in local currency, which helped to raise value of the dinar over the past years more than 2000 points.

And as for the size of the money supply or the size of cash flow by more than 30 trillion Iraqi dinars, equivalent to $ 26 billion, noting that the system of cash transactions in Iraq, after 2003, it became Mdolra, any market deal dinar and the dollar both, and this means a mass of cash circulating in the market but in foreign currency.

He continued favor and put in numbered accounts that the Iraqi currency or monetary bloc total traded home and that would be replaced after the cancellation of zeros will be in the range of 30 trillion dinars, but its value against foreign currencies would remain fixed .. This means that the Iraqi dinar exchange rate now would be equivalent to 1200 dinar per one dollar.

In regard to the most important variables that will come after the lifting of zeros, between the appearance of the central bank solid plan to rearrange the currency to reduce the number of banknotes in circulation, and this is positive and the payments system here would be Iraqi easier.

Economists warned that the process of replacing the Iraqi currency after the lifting of zeros Schoppea operations by a major corruption due to structural inaccuracies of Iraqi banks.

They emphasized that the processes of replacement of currency formerly accompanied the operations a major corruption cost the Iraqi economy a lot, but look for answers by saying that the process of replacing the currency in 2004, took place in exceptional circumstances, and the country under occupation and is administered by the Governor of an American civilian, and with this process was successful.

And sells the central bank through its daily auction, between 150 million and $ 190 million per day to clients of private banks and financial companies, a large proportion of them go Khawwalat external payment transactions of foreign trade.

And confirms the expert's central bank that the application of the new project to raise three zeroes from the Iraqi dinar and the currency exchange, will be according to mechanisms scalable in the form of do not feel the citizens, are put quantities in the market and the withdrawal of which is maintained by the government banks of the block and replace it, and it remains only in the possession of the citizens of the trading day, and can make any transactions in both currencies for existing and new, what's goods on the current price of 1000 dinars for example, a customer can give the seller the present paper the category of 1,000 dinars, as well as currency can give him a new category of one dinar.

http://translate.goo...oogle.com&twu=1

OLD NEWS

[Carrello]

OLD NEWS

If you read the previous posts, the information is part of the education process for Iraqis, and the article is dated 8/12/11. This news is not written for you, it is written for the people Iraq.

[Alex38]

Chapter 7. They need to be out of it.

[BlueOrchid919]

Chapter 7. They need to be out of it.

Maybe, maybe not. I've seen nothing to indicate the Kuwait/Iraq 'issues' would prevent the creation of their new currency and its roll out. I've read pretty much everything pertaining to the IQD and Kuwait and have seen nothing to tie it to the remaining Ch7 resolutions. If it IS related, I've yet to see anything to support that.

[NWGUY]

I think we all need to relax! These articles come out just about everyday, and we as investors fuss over it, and really, nobody really knows what is going to happen.

What I am thinking, is that anything to do with the RV or RD, has to go through Parliment. Now, think about this....they are all politicians, and they are not about to hurt themselves. In fact, these Iraqi politicians are even more corrupt!! Do you really think that they are going to RD themselves?? I know that our politicians would not want to approve something that would hurt themselves, and the Iraqi's are even worse!

I really think, that we are all in a good investment, and I think that someday, when all these clowns figure out, that they need to get this done for themselves, it will happen!

JMO

Go RV!!

[matlok12]

Chapter 7. They need to be out of it.

Hasnt the dinar gained value while under chapter 7?? Just asking.

[redenominator]

it is very interesting how many of these articles are put out. If you think about our news sources and the stories they do, the only thing I could compare it to would be the raising of the debt ceiling as there was something in the paper or on TV on a daily basis. But it looks like it is starting to heat up as I saw a different article that stated it should be voted on in a month so I'm sure we will see a lot more of them as that vote gets closer. But at lease we should know something more definitive soon.

[Dalite]

Hasnt the dinar gained value while under chapter 7?? Just asking.

It has gained approx 2000 Dinar to the Dollar while under Chapter 7 sanctions.

This is the CBI's number that they often quote, and is fairly easily verified..

[keepmwlknfny]

Hasnt the dinar gained value while under chapter 7?? Just asking.

You got it! It in fact has almost doubled.....so I think CH7 is not an issue.....