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Financial Alnibaah: next year will see the circulation of two currencies at the same time  DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Financial Alnibaah: next year will see the circulation of two currencies at the same time

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Financial Alnibaah: next year will see the circulation of two currencies at the same time  Empty Financial Alnibaah: next year will see the circulation of two currencies at the same time

Post by Ponee on Wed Jun 20, 2012 10:16 am


Financial Alnibaah: next year will see the circulation of two currencies at the same time  Story_img_4fe194429cdab
Said a member of the Finance Committee Hassan Salman, "Iraq will see the two currencies traded at the same time over the next year 2013 of the new currency in circulation after deletion of zeros with the survival of the current currency trading throughout the year mentioned." Salman said that "the central bank operates in more than six months from now on the position of the deletion of zeros from the currency and the current that will be applied starting from next year."


He added that "the Finance Committee informed and in constant contact with the central bank governor and his aides who constantly learn about the Finance Committee on the details of this issue and the process of replacing the current currency the new currency will continue over the next year."


He said Salman, "will end the current currency, the beginning of 2014 and this process will lead to the strengthening of the Iraqi currency fluctuations, especially after the Iraqi dinar exchange rate against the U.S. dollar in recent times."


He noted that "currency adjustment will benefit the Iraqi economy and will facilitate the handling of cash in the country by reducing the money supply in circulation now, which Tkdrbhawwala 30 trillion dinars."


Ended 2 Updating :: 20/06/2012 13:13


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Financial Alnibaah: next year will see the circulation of two currencies at the same time  Empty Re: Financial Alnibaah: next year will see the circulation of two currencies at the same time

Post by Terbo56 on Wed Jun 20, 2012 10:50 am

Let's all hope he keeps his word? At least the bills that we all hold now WILL be worth what they are face value-:cheers:
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Post by Guest on Wed Jun 20, 2012 10:55 am

@terbo56 wrote:Let's all hope he keeps his word? At least the bills that we all hold now WILL be worth what they are face value-:cheers:

Yes, lets hope!

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Financial Alnibaah: next year will see the circulation of two currencies at the same time  Empty Re: Financial Alnibaah: next year will see the circulation of two currencies at the same time

Post by ou812 on Wed Jun 20, 2012 11:16 am

@terbo56 wrote:Let's all hope he keeps his word? At least the bills that we all hold now WILL be worth what they are face value-:cheers:

If they delete 3 zeros off the new currency and allow the old currency to coexist the way i see it a 25000 old note will have the same purchasing
power as a new 25 note which is not good. Correct me if im wrong.

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Post by Terbo56 on Wed Jun 20, 2012 11:28 am

A 25,000 note will still be worth 25,000-They WILL NOT take away the value of what they are worth- No other country will ever do business or have anything to do with Iraq if they pull that on us-Shabibi has stated that the nominal value of our dinar WILL stay the same-Deleting the zeros means taking the zeroed notes off the street in Iraq, not taking the value away from the ones that we hold-:cheers:
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Financial Alnibaah: next year will see the circulation of two currencies at the same time  Empty Re: Financial Alnibaah: next year will see the circulation of two currencies at the same time

Post by ou812 on Wed Jun 20, 2012 11:44 am

@terbo56 wrote:A 25,000 note will still be worth 25,000-They WILL NOT take away the value of what they are worth- No other country will ever do business or have anything to do with Iraq if they pull that on us-Shabibi has stated that the nominal value of our dinar WILL stay the same-Deleting the zeros means taking the zeroed notes off the street in Iraq, not taking the value away from the ones that we hold-:cheers:

Im assuming this is your opinion.

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Post by Terbo56 on Wed Jun 20, 2012 12:13 pm

Not an opinion- Shabibi has stated this MANY times-Mad
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Post by hithere on Wed Jun 20, 2012 12:20 pm

I really hope you're right Terbo56! And does this mean that the illusive "RV" may not happen till then? Just asking cuz its almost the 30th of June. The time set for the UN to review Iraq's progress and hopefull exit of Chapter 7.
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Post by Terbo56 on Wed Jun 20, 2012 12:26 pm

All we can do is wait at this point- I'm just as hopeful as anyone else, and really would like to see this before the end of the year, and I'm not the only one that feels that way!! Very Happy :cheers:
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Financial Alnibaah: next year will see the circulation of two currencies at the same time  Empty Re: Financial Alnibaah: next year will see the circulation of two currencies at the same time

Post by IQD4US on Wed Jun 20, 2012 3:01 pm

@hithere wrote:I really hope you're right Terbo56! And does this mean that the illusive "RV" may not happen till then? Just asking cuz its almost the 30th of June. The time set for the UN to review Iraq's progress and hopefull exit of Chapter 7.

The actual date of the review from full release of CHAP VII is July 28th. (per UNSC calendar)

Per the SIGIR report Dated April 30th, page 84, the deletion of the zeros was put on indefinate hold at that time (which the new info is they are picking it back up again) and would make the Iraqi Dinar worth slightly less than the USD. (www.sigir.mil)

Sorry that to other sites are still pushing an earlier timeline - but since it is a UN decision to remove Chap VII, I believe we WILL have to wait a littler longer than yesterday, today or tomorrow. Just NOT going to happen "right now" - but it is coming and we will not lose value.
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Financial Alnibaah: next year will see the circulation of two currencies at the same time  Empty Re: Financial Alnibaah: next year will see the circulation of two currencies at the same time

Post by Kevind53 on Wed Jun 20, 2012 4:26 pm

UNSC Resolution 1483 Page 4:
10. Decides that, with the exception of prohibitions related to the sale or supply to Iraq of arms and related materiel other than those arms and related materiel required by the Authority to serve the purposes of this and other related resolutions, all prohibitions related to trade with Iraq and the provision of financial or economic resources to Iraq established by resolution 661 (1990) and subsequent relevant resolutions, including resolution 778 (1992) of 2 October 1992, shall no longer apply;

http://www.uncc.ch/resolutio/res1483.pdf

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