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Central Bank will issue new denomination bills


jeepguy
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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.

The new currency will include symbols that reflect the diversity of Iraqi sects and cultures including the Kurdish culture. "Iraq needs to support its economy and its currency through the issuance of a currency similar to foreign ones like the $100 bill," Saleh added.

The main tasks of the ICB are to maintain price stability, implement monetary policy, manage reserves of foreign currency, issue and manage the currency and regulate the banking sector.

The inflation rate in Iraq stood at 7.3% in September.

i know iknow i hate the dinar with new bills tooo --------- but what is up with the 43 u s dollars in this article ? from www. a k news .com ... is it saying clost too dinar rate of .75 i am hoping i read this right it is 1 a m in the moring here sooo please please please

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this is confussing at 2 a m in the moring ---it might be just me ---- but if the 50.ooo is a new bill and it is printed like our 50 dollar bill you know the on with GRANT on the face and it is worth 43. u s dollars ,,,they take all the 50,ooo big notes off the street,,,,, now the 50 dollar dinar is 43 ,,,would this mean 1 dinar is .70 cents ------ my math is crazy at this time 50 take away the 43 leaves me with 7 dollars ...

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this is confussing at 2 a m in the moring ---it might be just me ---- but if the 50.ooo is a new bill and it is printed like our 50 dollar bill you know the on with GRANT on the face and it is worth 43. u s dollars ,,,they take all the 50,ooo big notes off the street,,,,, now the 50 dollar dinar is 43 ,,,would this mean 1 dinar is .70 cents ------ my math is crazy at this time 50 take away the 43 leaves me with 7 dollars ...

Yes, maybe you should address this in the early afternoon. There are no 50,000 notes on the streets, however if you have two 25K dinars in your wallet, you will have 50,000 dinar....smile.gif 1 dinar = .86 USD

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this is confussing at 2 a m in the moring ---it might be just me ---- but if the 50.ooo is a new bill and it is printed like our 50 dollar bill you know the on with GRANT on the face and it is worth 43. u s dollars ,,,they take all the 50,ooo big notes off the street,,,,, now the 50 dollar dinar is 43 ,,,would this mean 1 dinar is .70 cents ------ my math is crazy at this time 50 take away the 43 leaves me with 7 dollars ...

50 dinars = to $43

figures $0.86

86 cents

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Jeep:

Hey buddy! Try this on for size:

A 2 currrency RV, with a initial rate of .86.

New notes have all the required languages of the Erbil Agreement>

Each new and old note are converted at .86!! As larger old notes are converted (turned in) they are "retired\destroyed".

(NOTE: Think about the banking\security\infrastructure they need to do this. They need controls in place so that the current notes (especially 10,000 and 25,000) are really destroyed and not re-circulated!

I hope they have a lot of new 100's printed!!

:lol::lol::o:D

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MY WIFE HAS LONG BEEN DISGUSTED WITH THE "THIS MAYBE IT DAYS" SO I STAND FIRM AS TO WHAT GOD HAS PLACED ON MY HEART, AND THAT IS TO STOP, LOOK AND LISTEN TO WHAT'S BEING SAID AND DONE IN THE NEWS COMING OUT OF THE EAST. GOD SAYS "BE PATIENT LITTLE FLOCK, BE APART, COMMUNICATE TO YOUR ASSOCIATES IN THIS VENTURE AND YOU'LL GET YOUR PRAYER ANSWERED, PRESSED DOWN, SHAKEN TOGETHER AND RUNNING OVER!"

SO I STAY FIRM ON THE BELIEF THAT THIS PRAYER WILL COME TO FRUITION, AND THEN I'LL TAKE THE GOOD NEWS TO MY WIFE, PRAISING GOD FOR ALL HIS WONDERFUL BLESSINGS, THAT HE HAS GIVEN TO ME AND MY ASSOCIATES IN THIS VENTURE. PEACE! GO RV! :)

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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.

The new currency will include symbols that reflect the diversity of Iraqi sects and cultures including the Kurdish culture. "Iraq needs to support its economy and its currency through the issuance of a currency similar to foreign ones like the $100 bill," Saleh added.

The main tasks of the ICB are to maintain price stability, implement monetary policy, manage reserves of foreign currency, issue and manage the currency and regulate the banking sector.

The inflation rate in Iraq stood at 7.3% in September.

i know iknow i hate the dinar with new bills tooo --------- but what is up with the 43 u s dollars in this article ? from www. a k news .com ... is it saying clost too dinar rate of .75 i am hoping i read this right it is 1 a m in the moring here sooo please please please

This has already been posted and discussed. :lol::lol: Look in previous forums...

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