FROM 2011 ---Iraq: the issuance of currency in 50 thousand dinars and coins in both Arabic and Kurdish

Baghdad, November 21 (Rn) - The Central Bank Monday that he is working to issue a coin a new category of 50 thousand dinars and coins small in both Arabic and Kurdish to address the liquidity in Iraq. The appearance of Dr. Saleh is vice president for Kurdistan News Agency (Rn) that "Central Bank of Iraq is working to issue a new currency, a large class (50) thousand dinars due to the lack of coins significant in the country." Saleh pointed out that "the largest currency in the country are currently (25) thousand dinars and the purchasing power it does not exceed $ 23 . " Saleh added that "the central bank is also working on issuing coins of small non-existence of these groups that facilitate the process of dealing and purchase between the citizen and Iraqi markets that need to return to the currency with small metal had some dealings with the Central Bank." Salih stressed that the "currency new will be in the Kurdish language in addition to Arabic and symbols reflect the civilization of Iraq and the diversity of sects and his or her own civilization including Kurdish. " stressed the benefit that "Iraq needs to support its economy and its currency by issuing coins large, similar to the foreign currency, including $ 100 bills." Saleh added "In cash transactions in the Iraqi market, you need to finance the cash (cash) large and therefore difficult to transfer the money in the form of bags in the event of trading large." and warned that "the Iraqi banks do not accept deposits, sometimes due to problems in number and the account of the large amounts of money." and increased benefit in the earlier Iraq was seeking to reduce the cash block (cache) of 25 trillion dinars to 15 billion dinars. "noting that" the central bank fixes the payments system in Iraq and the policy of the monetary authority. " Saleh pointed out that "it will be soon through the issuance of new currency and the elimination of three zeros from the new currency. " Salih stressed that "this action is an important part of the reform of currency management and will facilitate the payments system and the elimination of the vestiges of inflation, the former by treating the mass of a strong monetary and easy," adding that "instead of the dealing with large amounts of money to buy a small quantity of goods, we will deal small amounts of money to buy a large quantity of goods. " From: Sam and dry, the Open: Peace Baghdadi

DevaronDLH wrote:Either Iraq is totally confused or the articles that come out of that country are total lies. For months on end these people (Iraqi's) have talked about taking the 3 zeros off the currency now they want to create 50,000 notes... is someone insane or what? Where is the truth in any of this?

1alaskan wrote:I don't get it, why print 50 k notes when they are talking about dropping 3 zeros?

1alaskan wrote:You would think that with the spending spree Maliki is on, with those kinds of amounts, it would all be wired transfers, but who knows?