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Jeff says -    Iraqs gonna have two currencies coexisting together.  DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Jeff says - Iraqs gonna have two currencies coexisting together.

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Jeff says -    Iraqs gonna have two currencies coexisting together.  Empty Jeff says - Iraqs gonna have two currencies coexisting together.

Post by Ponee on Fri Nov 22, 2019 7:29 pm

Jeff    …with Iraq they’re gonna have two currencies coexisting together.  So you’ll have a 25k note and a 25 note coexisting together.  They’re not gonna have the same valueLet’s say the rate is $3.00…the 25k note would be worth $75,000 and the 25 note would be worth $25…the two currencies will coexist together with independent separate values…


11.22.2019

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Jeff says -    Iraqs gonna have two currencies coexisting together.  Empty what he's describing is a LOP

Post by Sam I Am on Sat Nov 23, 2019 4:42 pm

LOL!!!  What a MORON!  First of all the rate will not be $3, but even if it was a 25 note would be worth $75 not $25.  And what he's describing is a LOP - a replacement currency with a higher value and the old currency with a lower value slowly being withdrawn from circulation.

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Jeff says -    Iraqs gonna have two currencies coexisting together.  Empty MIDEAST MONEY-Iraq dinar is short-term disappointment, long-term bet

Post by claud39 on Sat Nov 23, 2019 5:20 pm

I would just like to share an article dated 2012 or October 3, 2012, I did not want to comment on your discussion, and it was especially by chance that I read your post, since I normally erase it even before have read the news of the gurus, I share it with you, and you members of the forum to decide to make your opinion on this article, but very interesting to consult anyway, and that does not mean that I support the guru, just share this news to members of the forum, I put you in this links on the forum if you have not seen, I wish you a good evening to you all !!!



Claud (Moose)



http://www.dinardaily.net/t89116-the-pragmatism-of-the-economic-landscape


[size=40]MIDEAST MONEY-Iraq dinar is short-term disappointment, long-term bet[/size]


OCTOBER 3, 2012 


* Iraqis still prefer hard currencies for many transactions


* But some foreign speculators see long-term opportunity


* External, budget surpluses could eventually boost dinar


* For now, central bank wants to keep currency stable


* Any major appreciation unlikely before two or three years


By Aseel Kami


BAGHDAD, Oct 3 (Reuters) - Many Iraqis have lost faith in their dinar currency but to some foreign speculators, it promises big profits. The contrast underlines the uncertainties of investing in Iraq as the country recovers from years of war and economic sanctions.


The logic of the dinar bulls is simple. Iraq’s oil exports rose to 2.6 million barrels per day in September, their highest level in three decades; the country aims to hit 6 million bpd by 2017, which would put it close to Saudi Arabia’s current level.


Even if unstable politics, militant violence and bureaucratic inefficiency prevent that target from being hit, Iraq still seems to be on the threshold of an oil boom that will transform its finances.


Inflows of new oil revenue could give the country big external surpluses and push state finances deep into the black by late this decade - the classic recipe for a strong currency.


“As far as our investors are concerned, when they buy Iraqi dinars they do know it is a long-term investment. You know it takes time for a country to rebuild itself,” said Hassnain Ali Agha, president of Dinar Trade, a U.S. dealer of exotic currencies.


Because the dinar is not freely traded by banks outside Iraq, online dealers of banknotes such as Dinar Trade are the only way that most foreigners can invest in the currency. 


The Las Vegas-based company says it sells as much as hundreds of thousands of dollars worth of dinars daily, shipping dinar notes to thousands of customers in the United States and elsewhere.


Agha said that because of optimism about Iraq’s oil wealth, there had been solid demand for dinars since his company was founded in 2004, a year after the U.S. invasion which triggered years of political violence and economic turmoil.



Back in Baghdad, however, Iraqis themselves are not convinced. Many take what opportunities they have to change their dinars into hard currency, and conduct all but small day-to-day transactions in U.S. dollars.


“We have no trust in the Iraqi dinar - we feel afraid to save it. We trust the dollar more. The dollar does not go up and down, it is fixed,” said housewife and mother-of-two Eman Saadeldine.


WILD SWINGS



The dinar has endured wild swings over the past three decades. In the 1980s, one dinar bought around $3, but economic sanctions imposed on Iraq around the time of the 1991 Gulf War sent the currency into decline and stoked inflation, which the government fuelled by printing money. By late 1995, $1 bought as much as 3,000 dinars.


After the 2003 invasion, the central bank intervened in the currency market to strengthen the dinar, using its supplies of dollars to manage the exchange rate.


But over the last several years, even as Iraq’s oil production has expanded, there has been none of the appreciation for which speculators have been hoping. The central bank now sells dollars in daily auctions at a fixed price of 1,166 dinars, a level barely changed since 2009.


In fact, the dinar has recently faced downward pressure as a result of the international economic sanctions imposed on neighbouring Iran and Syria. Iraqi traders rushed to buy dollars to sell on illicitly to residents and businesses in those countries, which are hungry for hard currency.


The dinar fell as low as 1,280 in the open market this year before Iraqi authorities reacted by allowing two state-run banks and some private lenders to sell dollars, helping push the exchange rate back to around 1,200 currently.


Another factor counting against the dinar is the fact that the largest banknote is only 25,000 dinars. This often makes the currency unattractive to use in an economy where the banking system is primitive and deals are often done in cash.


Saadeldine recalls paying in cash for a new house in 2009.


“If our money had been in dinars, it would have been impossible for us to carry it. It was in dollars and we carried it in a small suitcase,” she said.


The central bank has been considering plans to knock three zeros off the nominal value of banknotes to simplify financial transactions. This would not in itself increase the real value of the dinar, since prices would adjust in line with the redenomination, but economic experts say it could improve confidence in the dinar and thus boost its value eventually.



“It would increase trust in the dinar even though its value would not change,” said Baghdad-based economist Majid al-Souri. “Indirectly, when trust increases there will be appreciation.”


Earlier this year, however, the cabinet decided to suspend the technically complex redenomination plan until further notice, saying the economic climate was not suitable.


The biggest obstacle to dinar appreciation is the fact that for now at least, Iraqi authorities appear content with the exchange rate in its current range.


In a memorandum to the International Monetary Fund on economic and financial policies for 2011, written in March that year, the Iraqi government said it saw benefits in keeping the dinar stable.


“We believe that the policy of maintaining a stable exchange rate continues to be appropriate, as it provides a solid anchor for the public’s expectations in an otherwise uncertain environment and in an economy with a still very low level of financial intermediation,” it said.


LONG TERM



In the long term, however, Iraq’s finances and economy may improve so dramatically that authorities feel comfortable allowing the dinar to appreciate under the pressure of flows of oil money into the country.


The IMF expects this year’s estimated budget surplus of just 0.2 percent of gross domestic product to balloon to 12.1 percent in 2017.


 The country’s balance of trade in goods and services, in deficit as recently as 2010, is projected over the next five years to shift to a large surplus of 11.3 percent of GDP.


Deputy central bank governor Mudher Kasim told Reuters that he expected redenomination of the dinar to go ahead in 2014 or later, by which time the amount of Iraqi currency in circulation would have increased significantly, making financial dealings in cash even harder.


In the long term, the central bank aims to make 1 dinar equal to $1 with a combination of redenomination and appreciation, although that will take over three years because of instability in the Middle East, Kasim said: “If not for the regional circumstances, we would proceed faster with that plan.”


Some analysts think the appreciation could go further. Kamal al-Basri, research director at the Iraqi Institute for Economic Reforms, an independent research body in Baghdad, said he expected the dinar to stay stable for the next three years, but that afterwards it might strengthen beyond parity against the dollar, including the effect of redenomination.


For that to happen, Iraqi politics will have to stabilise, skill and education levels rise and the economy diversify so that it is not so heavily dependent on oil exports, he said.


Speaking at the Baghdad currency exchange shop that he owns, Ahmed Abdul-Ridha said the dinar’s stability in the past three years was good, but it did not indicate the long-term trend.



“We wish the dinar’s value would go back to what it was like before, when it used to equal $3 in the 1970s and even in the 1980s,” he said.

“I expect that day will come. Why not? What we are going through is an abnormal condition...We are an oil country.”




Our Standards:The Thomson Reuters Trust Principles.


https://www.reuters.com/article/iraq-economy-dinar/mideast-money-iraq-dinar-is-short-term-disappointment-long-term-bet-idUSL5E8KT13720121003
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Jeff says -    Iraqs gonna have two currencies coexisting together.  Empty Iraqi Dinar revaluation postponed by Central Bank for 5 years says MP Noura al-Bajari

Post by claud39 on Sat Nov 23, 2019 5:36 pm

Last point when I read this article I understand that the project would have been done in 2012 if it will not have been political instability, so they have to report the project from 2 to 3 years until 2014, but the Islamic state is put in the party, so they had no choice but to move their 5-year project, and especially during that time, they mounted the banking system at the cutting edge to avoid the fraud by doing financial inclusion in the country, and as I mention it to you, I'm not a guru, just a news reader who shares his news to forum members, good evening to all !!!


Claud (Moose)



http://www.dinardaily.net/t89116-the-pragmatism-of-the-economic-landscape


[size=39]Iraqi Dinar revaluation postponed by Central Bank for 5 years says MP Noura al-Bajari[/size]

Oct 29, 2014, 11:54 pm


Jeff says -    Iraqs gonna have two currencies coexisting together.  %D8%A7%D9%84%D9%86%D8%A7%D8%A6%D8%A8-%D8%B9%D9%86-%D8%A7%D9%84%D9%82%D8%A7%D8%A6%D9%85%D8%A9-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9-%D9%86%D9%88%D8%B1%D9%87-%D8%A7%D9%84%D8%A8%D8%AC%D8%A7%D8%B1%D9%8A




Baghdad (IraqiNews.com) A member of the Parliamentary Economic and Investment Commission, MP Noura al-Bajari, confirmed on Wednesday that the initiative to revalue and delete zeros from the Iraqi Dinar is ready for implementation by the Central Bank although it will be delayed by five years given the political and security situation of Iraq.
In an interview with IraqiNews.com al-Bajari said “The policy to delete zeros from the Iraqi currency is ready to be executed by the Central Bank, however, its implementation will be delayed by 5 years on the basis of the extreme security and political situation of the country.”
Al-Bajari said that the head of the Central Bank of Iraq had previously said that this policy from parliament was accepted and that the zeros will be deleted from the Iraqi currency in the next 5 years.




https://www.iraqinews.com/features/iraqi-dinars-project-postponed-5-years-says-central-bank/
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Jeff says -    Iraqs gonna have two currencies coexisting together.  Empty Central Bank of Iraq: the project of deleting zeros from the currency still exists

Post by claud39 on Sat Nov 23, 2019 5:47 pm

Just a little last dated 2018 is October 11, 2018 is a little over 1 year since the publication of this article, so for me it's still news that was sent recently that they share this news, so for me 2014 + 5 years = 2019, or the beginning of 2020, and with the demonstrations taking place in the country the government has no choice to take the reforms out to start the reconstruction, it is the request of the IMF, and of the World Bank, and on behalf of the UN to have the laws to make progress in the change on the future of Iraq, I wish you a good evening to all of you !!!


Claud (Moose)



http://www.dinardaily.net/t89116-the-pragmatism-of-the-economic-landscape



Central Bank of Iraq: the project of deleting zeros from the currency still exists

October 11, 2018

Jeff says -    Iraqs gonna have two currencies coexisting together.  Snqte

The Central Bank of Iraq that the draft deletion of zeros from the Iraqi currency still exists.
The director of issuance and treasuries Abdul Karim Hassan Shannon that the project to delete the zeros was supposed to start during 2014, but the security events and the control of the Islamic State in five provinces led to the postponement, pointing out that the project is to delete three zeros from the current currency with the introduction of large currencies and currencies Metallic.
Shannon said that the current mass of money is 44 trillion dinars.






https://alrafidain.org/post/22705/%d8%a7%d9%84%d8%a8%d9%86%d9%83-%d8%a7%d9%84%d9%85%d8%b1%d9%83%d8%b2%d9%8a-%d8%a7%d9%84%d8%b9%d8%b1%d8%a7%d9%82%d9%8a-%d9%85%d8%b4%d8%b1%d9%88%d8%b9-%d8%ad%d8%b0%d9%81-%d8%a7%d9%84%d8%a3%d8%b5%d9%81%d8%a7%d8%b1-%d9%85%d9%86-%d8%a7%d9%84%d8%b9%d9%85%d9%84%d8%a9-%d9%85%d8%a7-%d8%b2%d8%a7%d9%84-%d9%82%d8%a7%d8%a6%d9%85%d8%a7
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Jeff says -    Iraqs gonna have two currencies coexisting together.  Empty Re: Jeff says - Iraqs gonna have two currencies coexisting together.

Post by claud39 on Sat Nov 23, 2019 6:11 pm

Finally, I would like to share this last news that tells us about the beginning of February for a change, as I mention it I am not a guru, I share the articles, and I would especially like you to notice that it is their word , and not mine that talks about deleting the 3 zeros, then the question would be for me, either I listen, or I read the gurus who do not know anything about what will happen with the change of the 3 zeros, or good to listen, or read about the decision makers of the country to know if they will have a change on the monetary side, on my side I will take the second option if you give me the choice! Good evening to you all !! Good reading !!



PS: When I talk about guru, I'm not talking forum members who share their opinion, plus people who think to know what will happen before the makers on the subject of removing the 3 zeros, again good evening to all !!


Claud (Moose) 


The pragmatism of the economic landscape


Tuesday, October 29, 2019


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Jeff says -    Iraqs gonna have two currencies coexisting together.  980-Alsabbaq



Thamer Alhims
 
The pragmatism of its slogan, "Measuring things by its consequences," reflected negatively on its patrons, because of the wide interpretation between capitalism and the disciplined under the Keynesian theory, which came as an antidote to the crises of recession and economic recession in the light of the problem of economic cycles, concentrating 1 percent of wealth in one segment reduce spending to move Capital towards banks and the world of interest, rent and consumerism.

The courageous decision of the Central Bank to control the movement of funds, to be implemented in February 2020, came late but it is better than not to come. 

We also hope that the infrastructure that it embraces will be ready now, namely controlling the border outlets, enforcing e-government and reviving the external transfer directorate to support our real economy. Consumption tendency to resolve the window of selling the currency, which did not constitute a successful alternative according to the results and the accompanying and the economic and financial reasons are known.
The banking performance is supposed to evolve by converting hoarding into savings in banks, as 77 percent of the money block is chunky, which has directed banks to serve random import with its disastrous results in agriculture and industry in the absence of non-economic will and the uncontrolled financial performance as announced by us.
Therefore, it is necessary to read carefully the international economic scene that a crisis that will hit the world capitalist economy in 2022 will result in economic stagnation as a traditional cycle in the traditional capitalist system, and this will reflect on oil prices negatively, to make it low, which will negatively affect our economy because we are an oil country par excellence Some of the effects of this will hit us because we are still in indebtedness to their upper limits if measured in relation to national output. In terms of economic relations, we are in a slant trade balance for the benefit of China, Iran, Turkey and some countries 
Arabic.
Our real economy of agriculture and industry is not pleased despite the achievements of the protection of some Iraqi products because our private sector still needs to enter into partnerships with the public sector, which requires first to activate the hoarded investment of funds with enlightened and nationally aware hands before considering external borrowing.
Foreign and domestic investment should be through the relevant institutions and according to the example of our project in electricity with China, for example, and through identities and addresses in order to reverse the rentier equation and shift from just a dam for oil towers to producers of a national oil company and an oil law that protects it from futile procedures that have cost and still is Obstructing the Iraqi pilot project to be rewarded with neighboring countries at least with respect and efficiency.




http://www.dinardaily.net/t89116-the-pragmatism-of-the-economic-landscape



The Companies Registration Department grants a certificate of incorporation




October 24, 2019





Jeff says -    Iraqs gonna have two currencies coexisting together.  Article-157189734687753






The Central Bank of Iraq announces to the Department of Companies Registration at the Ministry of Commerce the certificate of the establishment of the Iraqi company to ensure deposits / mixed contribution, in accordance with the provisions of Article (19) of the Companies Law No. (21) for the year 1997 amended.
 

The Iraqi company was established to guarantee deposits with the contribution of (42) banks. Government and mixed, as well as the National Retirement Authority / State Pension Fund, where the capital of the company (100) billion dinars.
 

It is noteworthy that the deposit guarantee companies found to support efforts in stabilizing the financial and banking system inside Iraq.
 

Central Bank of Iraq
information Office
24 October 2019



Jeff says -    Iraqs gonna have two currencies coexisting together.  File-157190140482918









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