FROM 2011 -- Issuance of currency in 50 thousand dinars and Coins

11/22/11

Issuance of currency in 50 thousand dinars and Coins

Palm - the central bank that he works on the issuance of currency a new category of 50 thousand dinars and coins small in both Arabic and Kurdish and said that Iraq needs to support its economy and its currency by issuing coins large, similar to foreign currencies, including the category (100) dollars and warned that the Iraqi banks do not accept deposits, sometimes because of the problems of counting and account for such large amounts of money.

The appearance of Dr. Saleh, Vice Chairman of the Bank, through the Press Release: Central Bank of Iraq is working to issue a new currency, a large class (50) thousand dinars, because there are no coins, large in the country, pointing out that the largest currency in the country are currently (25) thousand dinars and the purchasing power it does not exceed (23) dollars.

He added that the central bank is also working on the version of Coins of small non-existence of these groups that facilitate the process of dealing transactions between the citizen and the markets that need to return to the currency with small metal had some dealings with the Central Bank said that Iraq needs to support its economy and its currency by issuing major currencies, as in foreign currencies, including the category (100) dollars and warned that the Iraqi banks do not accept deposits, sometimes because of the problems of counting and account for such large amounts of money.

And increased the benefit that Iraq was seeking to reduce the money supply of (25) trillion dinars (15) billion dinars, indicating that the central bank fixes the payments system in the country and the policy of the monetary authority and that this will soon be through the issuance of new currency and the elimination of three zeros of the new currency and stressed that this procedure is an important part of the reform process will facilitate the management of currency and payment system and the elimination of the vestiges of past inflation through the mass of strong cash handling and easy.


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now here we have a mistake on someones part.if the above report is true we now know that they don't intend to pull all the 000 currency off the street and we know that the real meaning of "deletion of the 000's" means that the revaluation will be to multiply the current exchange rate by 1000.eg.right now 1dinar=.00086 usd but after deletion of 000 we see 1dinar=.86 usd i think we have been loosing something in the translation and this is what they meant all along.

I am a bit confused also,



Even before the RV why a need for 50k notes, electronic transfers for large transactions? I do see a need for coins after RV.

It's double talk smoke screen! Look at this;

and its currency by issuing coins large, similar to foreign currencies, including the category (100) dollars

Now why would they issue 50K dinar notes and 100 too? just does not make sense.

AJ

AJAnderson wrote:It's double talk smoke screen! Look at this;

and its currency by issuing coins large, similar to foreign currencies, including the category (100) dollars

Now why would they issue 50K dinar notes and 100 too? just does not make sense.

AJ

EXACTLY!

They're flaming now about the 25000 notes, but the larger notes you speak of I believe are for business and corporate endeavors-That's my take on it- Terbo

i think you are living in an unrealistic world if you think they will destroy the "000" notes and come out with a 50,000 note.personally i will be very happy with .86------1.10 all the way to the bank.the other day somone mentioned intel that quoted $9------$11.divide this by 10 and we will debunk some more misinformation.just a thought.

Its ok everybody, this is either a loss in translation (50 thousand really should be 50) or this is to make us feel like the rv is far off. Its up to you to decide.

But if Iraq does release a 50,000 dinar note... (which they should have done years ago) it will completely undermine there attempt to raise the value of there dinar. Adding 50,000 notes would ADD to the already ridiculous amount of dinar in cir. And this would in fact lower the value of there dinar. And exactly how would adding a note that is worth $43 dollars help there currency usage problem. They would still need a bunch of dinar in cash to buy major purchases.

No... I'm not buying this for one second.

But lets say this is true. This completely destroy's any LOPsters out there.

HEY LOPSTERS!!!! I thought they were gonna come out with lower denoms and make a 25k note worth the same as a 25 dinar note. Whats the point of a 50k note? Just come out with a 50 dinar note.

But even if I'm wrong and Iraq doesn't RV, (which would be Iraq's country ending mistake) and they just let there currency value raise naturally after they join the WTO... We are all still filthy rich. More so than just RVing and removing currency off the market and coming out with lower denoms, then adding the removed dinars value to the lowers. (which is the current plan as far as I can tell)

Either way it is a win win for dinar investors. RV or not. But an RV will make it come so much faster.

I knew I had seen the info before, didn't realize it was that long ago ... my how time flies!

Pretty upsetting to realize how long it has been.  Makes me realize that I have wasted a lot of time these past few years.