CBI will issue new denomination bills

[DinarDana]

I love it..... but......

What about the 50 dinar note they have now? Is that going to have the new value? If not, guess the phase out the old in with the new?

Do all of our old notes get the new value, or only the new notes?

This just raises more questions than it does answers.

Yes I believe so - if this is article is true this means all notes will be revalued to this rate at the same time and it looks that new currency will be issued before 2013 as stated. So from my understanding it appears we are looking at an RV then at some time in the future all notes will be replaced with notes without the three zeros, but will hold the same value. ~ Go RV this is freaking awesome ~

[mrmcwhipit]

The 50 dinar note they have now would never get the new value.....its being replaced just like every other bill in the plan to delete the zeros (RD)

Thats the whole problem with these new batch of articles about issuing a new 50 dinar note.....they are stating they would print this new bill AFTER redenominating by deleting the zeros....if you hold a 50 now, it would remain at its current value and would most likely be exchanged for a new fil or coin.... (.50)

No exchanged at the new value not new fills or coins. Maybe in country for fills or coins.

[truthful1]

50,000 equals a new 50 dinar note. both have the same value. not good people.

[keepmwlknfny]

No exchanged at the new value not new fills or coins. Maybe in country for fills or coins.

Not if they delete the zeros first like one of the articles said yesterday.....

Thats not the way we want them to go....

[unirod]

As should everyone else...it says nothing about the rate of the old bills going up, just that the NEW 50 dinar note will be worth 50000 IQD, which is what we all own. Just curious what the new symbol will be for the new dinar since IQD represents what we all own.

Mudster; It says " a new note with a value of 50,000 dinar will be issued" The value is the "CURRENT" value!!!! pull the mud out of your head MUDSTER!!! alot is lost in the translation of this article. You have to compare this quote with the other recent articles to arrive at what is being conveyed in thought.

[zigmeister]

It is interesting they do not mention the rate of the new currency.

[Stryker365]

Look at it any way you want to boys, removing the 000's from circulation over the next 1 to 2 years is the way i choose too.

We will all know soon, hang in there!!!!

[keepmwlknfny]

If this mentioned the old 50 note at all I wouldnt think of this being so bad....but they arent saying anything about the old 50 note getting the value of what 50k dinar is now.....only the new 50 they plan on issuing....

Thats not what I want to hear.....more bad news for the holidays lol

[zigmeister]

These articles from CBI, or supposedly from CBI gives me a headache. Remember the other day another article came out stating they were not going to issue a 50,000 note, it was an old plan.

Personally if they do this I think 50,000 note will be bonds, only for banking purposes.

[mrmcwhipit]

I think if they are coming out with all new currency with a new value they will give their people an exchange of 1 for 1 or they will have some pissed off iraqis running around.

If this mentioned the old 50 note at all I wouldnt think of this being so bad....but they arent saying anything about the old 50 note getting the value of what 50k dinar is now.....only the new 50 they plan on issuing....

Thats not what I want to hear.....more bad news for the holidays lol

Do you think that is something they really want to publish? I dont think so.

[DinarDana]

BAGHDAD, Nov. 24 (AKnews) – The Iraqi Central Bank (ICB) has confirmed it will issue a new bill with a value of 50,000 IQD ($43 USD) but marked as 50 dinars.

Deputy chairman of the ICB Dr Muzher Saleh said the bank is working to issue this new money in addition to coins in both Arabic and Kurdish in an effort to address the liquidity problem in Iraq.

Economic adviser Abdul Hussein al-Ankabi said last September that this ploy to knock off some zeros will increase the phenomenon of money laundering.

The largest currency in the country is now 25,000 dinars and its purchasing power does not exceed $23 USD.

http://bit.ly/uzA4v2

Value of 50,000 (43.00) but marked as 50 dinars - 50 dinar note equals 43 USD - This bill has been issued, but probably, not largely circulated because it was of such a small value Iraqi citizens would not use it.

It is clear to me.

[JWJW11]

Value of 50,000 (43.00) but marked as 50 dinars - 50 dinar note equals 43 USD - This bill has been issued, but probably, not largely circulated because it was of such a small value Iraqi citizens would not use it.

It is clear to me.

Totally agree....this is exactly what they are saying....some just cant take off the lop goggles...

[mrmcwhipit]

Totally agree....this is exactly what they are saying....some just cant take off the lop goggles...

Not circulated?....I have alot of 50 dinar notes

[drlewis]

So if you have a 50k note and trade it in you will get a 50 note. that is an rd. Value neutral.. Not what we want.

[Carrello]

Totally agree....this is exactly what they are saying....some just cant take off the lop goggles...

JW and Dana,

I am not worthy...I am not worthy!

Edited November 24, 2011 by Carrello

[mrmcwhipit]

So if you have a 50k note and trade it in you will get a 50 note. that is an rd. Value neutral.. Not what we want.

I dont remember reading thats what you will get only talk of values and delete zeros

[drlewis]

Well if 50k is 50, the 50 is 50k...

[Shelley]

JW and Dana,

I am not worthy...I am not worthy!

Of course you are Carrello !!!!!! where is my pink party hat I ordered over the summer ???

[mrmcwhipit]

Well if 50k is 50, the 50 is 50k...

They said the 50 has the value of 43 dollars I guess you missed that part duh.

[jn1966]

This investment feels like some type of game or something. I know they are not going to let you know ahead of time when they will RV, Date and Rate predictions are only created by pumpers for personal monetary reasons....

How ever what gets me is for years they keep posting articles that make no sense and are very confusing so later all you have is a bunch of investors trying to figure things out and arguing with one another because of articles that purposely confuse and contradict each other.

Something is wrong here!!1 I'm beginning to smell dead fish in the water Humm!!!

[keepmwlknfny]

I think if they are coming out with all new currency with a new value they will give their people an exchange of 1 for 1 or they will have some pissed off iraqis running around.

Do you think that is something they really want to publish? I dont think so.

Thats what you would think, but there have been more then a few people on the ground over there stating that they already treat the bills as if they have no zeros and that alot of Iraqis are actually looking forward to this happening to return some of the purchasing power they once had.....

You dont have to tell me that they should exchange one to one with the old, but thats not what the CBI is saying they will do....

[zigmeister]

Thats what you would think, but there have been more then a few people on the ground over there stating that they already treat the bills as if they have no zeros and that alot of Iraqis are actually looking forward to this happening to return some of the purchasing power they once had.....

You dont have to tell me that they should exchange one to one with the old, but thats not what the CBI is saying they will do....

Good point Keep there have been folks on the ground stating they already are treating the money without zero's. So it is possible it has already been done within Iraq. However there are articles stating the people are going to the street banks(money laundering) and exchanging dinar for dollars. I assume out of fear, they are getting what little they are worth while they can.

[JWJW11]

Not circulated?....I have alot of 50 dinar notes

I would have to think an Iraqi in country has none

[Carrello]

They said the 50 has the value of 43 dollars I guess you missed that part duh.

At .86 per dinar, I get $860 per million. Does someone else get something different? ....hopefully

Edited November 24, 2011 by Carrello

[Footer]

At .86 per dinar, I get $860 per million. Does someone else get something different? ....hopefully

.86 per Dinar is $860,000 per million. $860 is the current rate.

I love the sound of a 50 being worth $43, but what happens to the 50 Dinar note that already exists?? This is what scares me.