PDA

View Full Version : Iraqi Central Bank announced on Thursday, for the withdrawal of 50 dinars currency



BatmaninIraq
02-27-2015, 07:47 PM
Iraqi Central Bank announced on Thursday, for the withdrawal of 50 dinars currency from circulation category,

pointing out that the replacement will continue for two months.

The bank said in a statement received " Alsumaria News ", a copy of it, he was" given to stop the public from trading cash paper category 50 dinars, he decided to withdraw this banknote from trading on the basis of the powers vested in Article 36 of the Bank Act No. 56 of 2004 ".

The bank added that "the banks and their branches will start replacing these banknotes presented to it and without fee or commission," noting that "banks will be deposited at the bank and its branches for the purpose of being the equivalent value in the accounts we have."



http://www.alsumaria.tv/images/AR/ArrowSelected2.png

Bank restores Iraqi Banknote Printing "new images and protect the more"




http://www.alsumaria.tv/images/AR/ArrowSelected2.png

Low central bank sales on Tuesday to $ 61 million


He noted the bank that "the term that will replace these banknotes will begin on the first of March to 30 of April next," stressing that "the end of the period of replacement will be banknote void and have no discharge power will not be accepted in Iraq."

It is noteworthy that the Iraqi Central Bank issued after 2003 and banknotes from the category of 50 dinars, but he is not traded due to the high prices of the products offered in the market.

HumbleGenius
02-27-2015, 09:04 PM
http://www.investorsiraq.com/showthread.php?9862-CBI-Withdrawals-50-Dinar-Note






.

BatmaninIraq
02-28-2015, 03:06 AM
The central bank decides to withdraw currency from the category of 50 dinars trading
Date: 26/02/2015 21:18

http://i38.servimg.com/u/f38/17/45/42/20/50_din10.jpg


Information / Baghdad / ..
Iraqi Central Bank decided on Thursday to withdraw the coin 50 dinars from circulation, noting that the banks will be replaced in starting from the beginning of next March. BLC
The central bank said in a statement received by the agency / information / copy of it, he was "given to stop the public from trading cash paper category 50 dinars, he decided to withdraw this banknote from trading on the basis of the powers vested in Article 36 of the Bank Act No. 56 of 2004".
"The banks and their branches will start replacing these banknotes presented to it and without fee or commission, and will be deposited with the bank and its branches for the purpose of being the equivalent value in the accounts we have."
The statement pointed out that "the term that will replace these banknotes will begin on the first of March to 30 of April next," stressing that "the end of the period of replacement will be banknote void and have no discharge power will not be accepted in Iraq.

BatmaninIraq
02-28-2015, 03:06 AM
Experts: 50 dinars born "dead" .. and canceled due to fraud and the deletion of zeros

27/2/2015


Range / Amer Mohi
A source in the CBI revealed that the bank has decided to withdraw the currency of 50 dinars from circulation category because of fraud and conflict with other categories when deleting zeros from the currency, and while experts confirmed that the abolition of the small category guide to take prices upward trend, said the 50 dinars born "dead" because they are too small and can not be accepted compared to other groups.
The Central Bank of Iraq, the day before yesterday, the currency was withdrawn from the category of 50 dinars from circulation due to "low value and stop the audience from the circulation," according to a statement of the bank. A source in the CBI told the "term" that "the Bank does not want a conflict between the currency category of 50 dinars and 500 dinars in case of deletion of zeros from the last," noting that "the central decided to cancel the deal with 50 dinars category formally instructed banks government and private bring this group to the bank in order to burn them. "
The source, who declined to be named, said "the Bank issued a decision not to deal with a class of 50 because of a major fraud after reprinted in 2003", adding that "the citizen is no longer handles this category because of the small cluster of cash for this currency, and because the cheapest thing in the market to be sold for 250 dinars for it canceled the same. "
He pointed out that "the citizen who owns a coin 50 dinars category can replace it in the bank within a specific number, it is impossible to bring people billions of dinars in this category are demanding to replace them because they certainly false."
For his part, said an expert on economic affairs Maytham Laibi "long" that "the decision to cancel the coin 50 dinars very painful, because it shows that the presence of an upward trend of prices, so that Tfariv currency has become not used in daily use," noting that "after ten years of the 50 dinars coin presence and lack of circulation dramatically means that the Iraqi market tended to handle large groups rather than to deal with small groups, indicating the money supply expanded significantly. "
Laibi and pointed out that "most of the countries of the world do not put such a condition when you drag the currency market, but they can be non-acceptance of the currency in circulation at the same time be accepted in the banking system, especially as the term is too short, which is up to two months only," but he also said "The decision can not be considered wrong in its entirety, because it has become a reality if the result of the use of this currency, and to identify specific timeframe for ending the deal in this category is the only weak point in the resolution."
In turn, said economist Ahmed Sabih told the "term" that "this group of Iraqi currency issued in the light of expectations down price levels to be smaller class can be traded among the public," noting that "the category of 50 dinars stillborn because it is very small Currency and can not be accepted in circulation compared to other groups that make up some of the complications. "
He Sabih saying that "the 50 dinars as long as calculated on the Iraqi currency bloc, it is better to replace the category of other more acceptable as a class 250 dinars, which represents smaller currency accepted by the public in circulation", adding that "this decision administrative true and does not reflect any economic effects is carried at liquidity or a reflection of the state of inflation, but it is a good procedure followed by many banks to get rid of the categories is acceptable in circulation. " The bank said in a statement received "long", a copy of which, the day before yesterday, that "due to stop the public from trading cash paper category 50 dinars, he decided to withdraw this banknote from trading on the basis of the powers vested in Article 36 of the Bank Act No. 56 of 2004".
The statement added that "banks and branches will begin to replace these banknotes presented to it without fees or commission," he said, adding that "banks will be deposited at the bank and its branches for the purpose of being the equivalent value in the accounts we have."

HumbleGenius
02-28-2015, 04:43 PM
I think this really is driven by the fact the 50iqd is = or less than the US penny and it just is not practical nor is it done to carry around pockets full of money that in all would total 5 bucks. They are removing the 'penny' (50 dinar note) from circulation. I assume the 250 will be next. After that they can easily lop and do an orderly exchange period with a new currency if Iraq still exists a year or two from now.

ChinaGirl
02-28-2015, 09:28 PM
The central bank decides to withdraw currency from the category of 50 dinars trading
Date: 26/02/2015 21:18

http://i38.servimg.com/u/f38/17/45/42/20/50_din10.jpg


Information / Baghdad / ..
Iraqi Central Bank decided on Thursday to withdraw the coin 50 dinars from circulation, noting that the banks will be replaced in starting from the beginning of next March. BLC
The central bank said in a statement received by the agency / information / copy of it, he was "given to stop the public from trading cash paper category 50 dinars, he decided to withdraw this banknote from trading on the basis of the powers vested in Article 36 of the Bank Act No. 56 of 2004".
"The banks and their branches will start replacing these banknotes presented to it and without fee or commission, and will be deposited with the bank and its branches for the purpose of being the equivalent value in the accounts we have."
The statement pointed out that "the term that will replace these banknotes will begin on the first of March to 30 of April next," stressing that "the end of the period of replacement will be banknote void and have no discharge power will not be accepted in Iraq.

Hey BM - did you add this photo or was it part of the article (no link) ....My 50s looks nothing like this - mine looks like the 50 on the English CBI site - this looks like a new bill heavy on security features. What's up with that? Create a new 50 then reel it in ... was this bill in circulation ? Any ideas people ?- they said part of the reasoning was that it lacked security features (this one looks loaded) can't find the currency pics on the Arabic side of the CBI site. Things are getting odd.

ChinaGirl
02-28-2015, 09:46 PM
Found the original 50 on the Arabic side... looks nothing like the photo above. So are they exchanging old for new then killing the old 50 in 60 days ? these Arablish articles can be misconstrued easily...

http://www.cbi.iq/index.php?pid=Banknotes&lang=ar

BatmaninIraq
03-01-2015, 12:38 AM
Found the original 50 on the Arabic side... looks nothing like the photo above. So are they exchanging old for new then killing the old 50 in 60 days ? these Arablish articles can be misconstrued easily...

http://www.cbi.iq/index.php?pid=Banknotes&lang=ar

but what is the value of the this new 50 bills? any????

ChinaGirl
03-01-2015, 12:29 PM
but what is the value of the this new 50 bills? any????

Not sure ..all the articles I have read said they were pulling it because the 50 was virtually worthless and no one was using it - so they print more expensive bills ??? This is Iraq so anything sensical would surprise me - this is true to form.

ChinaGirl
03-01-2015, 12:44 PM
but what is the value of the this new 50 bills? any????


And some articles are saying "replacing" the 50 ..... with a photo of the original 50 ...??? If so, why replace a worthless bill with another ?

http://www.iraqpressagency.com/ar/2015/03/01/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%8A%D8%B9%D9%84%D9%86-%D8%B3%D8%AD%D8%A8-%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9-%D9%81%D8%A6%D8%A9-50-%D8%AF%D9%8A%D9%86/

vipor
03-02-2015, 05:45 PM
Sooo, for those of us here in the states that are currently holding some of these old 50's, what are your plans for these old 50's considering those articles indicate they will be "void" by end of April? As far as I know, there are no banks here the states dealing with dinars. Anyone?

Will-it-happen?
03-02-2015, 06:31 PM
Sooo, for those of us here in the states that are currently holding some of these old 50's, what are your plans for these old 50's considering those articles indicate they will be "void" by end of April? As far as I know, there are no banks here the states dealing with dinars. Anyone?

If you can get 50 from at least 20 of us here and our 50 IQD notes then you can deposit it them into our Warka checking accounts ( I cant go I have work commitments/value my life )

calstar
03-02-2015, 08:16 PM
I just was on the Dinar Alert site. Check out xchangeofamerica they will buy back 50 IQD notes.

shinerguy
03-02-2015, 08:22 PM
I just was the Dinar Alert site. Check out xchangeofamerica they will buy back 50 IQD notes.
Can we get this translated? Anyone .....anyone.....Bueller

https://www.xchangeofamerica.com/

Will-it-happen?
03-02-2015, 08:49 PM
somebody want to take my 100k in 50s and paypal me what u get ?

calstar
03-02-2015, 09:53 PM
Can we get this translated? Anyone .....anyone.....Bueller

https://www.xchangeofamerica.com/

Dinar Inc.

Dinar_OS
03-02-2015, 10:20 PM
https://www.xchangeofamerica.com/


(https://www.xchangeofamerica.com/)

Will-it-happen?
03-05-2015, 02:53 PM
Who would like my 100k in 50 dinar notes ??

Dinar_OS
03-05-2015, 03:32 PM
Are we sure this translation is correct? Two months to kill a bill? Time frame to short, this is a complex operation, and sounds a bit dubious. imo

Could be saying two years for all we know. This would be the norm.

HumbleGenius
03-05-2015, 04:37 PM
Who would like my 100k in 50 dinar notes ??

I do but you will need to include a $100 US bill with them when you send them to me. I need to make it worth my while to take them.

Will-it-happen?
03-05-2015, 07:44 PM
I do but you will need to include a $100 US bill with them when you send them to me. I need to make it worth my while to take them.


nice try

any other takers ?

40plus
03-05-2015, 08:02 PM
Who would like my 100k in 50 dinar notes ??


Try SafeDinar.com I have bought from and sold to them a few times. If your bills have ANY sign of use, figure on getting the "used" price because they are very strict on that.

Don't know about the 50's..mine were all 25k.

Good luck. :cool:

calstar
03-05-2015, 09:49 PM
Try SafeDinar.com I have bought from and sold to them a few times. If your bills have ANY sign of use, figure on getting the "used" price because they are very strict on that.

Don't know about the 50's..mine were all 25k.

Good luck. :cool:

I dumped some of mine with Dinar Inc.

Lenmon
03-06-2015, 12:24 PM
They have an office about an hour away from me here in Florida. Will have to check them out.

dinar shore
03-06-2015, 01:17 PM
Thanks, Lenmon. Please let us know what you find out. There must be an ulterior motive for this company to be the 'White Knight' and save the day. This is a multi-office corporation and I can't believe that they are doing this out of the goodness of their corporate heart.




They have an office about an hour away from me here in Florida. Will have to check them out.

40plus
03-06-2015, 06:59 PM
Thanks, Lenmon. Please let us know what you find out. There must be an ulterior motive for this company to be the 'White Knight' and save the day. This is a multi-office corporation and I can't believe that they are doing this out of the goodness of their corporate heart.


Ulterior motives = profit or power. If they can cash in at par in Iraq, why not buy from you at discount, help you get something for your troubles & make profit? Makes the money world go round.

tipawin
03-07-2015, 02:30 AM
Best news in 10 years

the removal of the 50 note paves the way for the introduction of the small denomination currency

in 2013 iraq announced that the new currency would consist of

notes: 5 10 25 50 100 200

coins fils: 25 50 100 250 500

coins plus 1 & 2 dinars

the 5 dinars design beck waterfall and palm tree
the 10 dinars coin minted in the reign of the umayyad dynasty and lighthouse hadba in mosul

the 25 dinars design king hammurabi receiving the law and farming of iraqi kurdistan

the 50 dinars design king codaa and fort ukhaydir

the 100 dinars design central bank building in azwaip area in baghdad and ziggurat


200 dinars design bridge and school

Lenmon
03-09-2015, 09:32 PM
Just got off the phone with xchange of America. I asked if I could sell my IQD? They said yes, to fill out the sell order online and they will set up an appointment for me to bring the dinars there. they are offering 43.75 USD for 50,000 IQD. (That's all I have in 50's). They will also let you ship it there, but they are only 45 minutes away. Will keep you posted.

Brazileiro
03-10-2015, 12:21 AM
Just got off the phone with xchange of America. I asked if I could sell my IQD? They said yes, to fill out the sell order online and they will set up an appointment for me to bring the dinars there. they are offering 43.75 USD for 50,000 IQD. (That's all I have in 50's). They will also let you ship it there, but they are only 45 minutes away. Will keep you posted.
1142.85 - 1..better rate than CBI,,,

Lenmon
04-09-2015, 08:48 PM
Update to my expereince with Xchange. I went to the office near me. I got information for any of you who want to send 50 dinar notes in. I suggest you overnight it as they won't accept them after April 15. I am copying the following from a note they gave me.

Free 50 Dinar Note Exchange

Our corporate power house Xchange of America will be exchanging all Iraqi Dinar 50 denomination notes FREE of CHARGE, as a coutesy to all Dinar holders worldwide. They have April 1st as a deadline, but the guy told me they will accept up to April 15th.

Instructions:
1. Go register at www.xchangeofamerica.com (http://www.xchangeofamerica.com) as a new customer.

2. Write a letter requesting to become a client of XOA (giving you access to all 9 locations nationwide and our products and sevices) & include the LETTER with your currency you are turning in.

3. Send your currency to us (along with letter) and RETURN ADDRESS. Currency must be sent by a trackable method. Without letter, currency will be rejected. Send to our corporate office at the following address:

819 S Federal Highway
Suite 100
Stuart Fl 34994

4. We will exchange your 50 notes for 250, 500, 1000, 5000, 10,000, & 25,000 FREE of charge. XOA will round to closest note or denomination (NO CUSTOM REQUESTS)

5. Your new notes will be mailed out (Please give 2 weeks for processing and receiving)

6. If you are already an XOA customer please make sure you indicate so when you send your 50 notes in.

Xchange of America is doing this for all Dinar holders worldwide. NO matter where you bought your 50 notes from. We are doing this as a worldwide "Good Will" gesture.

We welcome you in advance to the Xchange of America Family, the most powerful currency exchange brand in America.

Robert Hoffman President and Founder. Toll Free: (888)-7-XOA-XOA


They will exchange for even face value. They are being swamped with 50 Dinar notes so it may take a little time. That's why I suggest you overnight your package before April 15th. As of May 1st, 50 Dinar notes will be worthless. I hope this information helps everyone out