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  1. #1
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    CBI reverses zeros deletion, issuing currency, $100 editions confuse Iraq money mkt

    The Central Bank reversed the deletion of zeros and issuing a new currency and another $100 «» editions» confuse money market in Iraq


    Illustration of the "$100" issued by the United States in 2009

    Baghdad-Mustafa Nasser


    The Central Bank, said yesterday, the inability to delete zeros Iraqi currency, or add new banknotes, for fear of disrupting the Iraqi market, a parliamentary Committee said it "supports the decision of the Bank which was taken in consultation with the Council of Ministers" to protect the stability of the Iraqi market.

    This was in conjunction with the debate on securities market on the entry of the new paper edition coin US $100 into the country, stressing the Iraqi citizens international banker are still hesitant of circulating widely.

    An informed source said in the Central Bank, for "the world", "the Central Bank Chief, after consulting with officials and advisers of the Bank decided to postpone any new Iraqi currency, including the addition of new categories of paper or delete zeros."

    The source said, "this issue has been raised at a meeting of the Council of Ministers during which hosted by Central Bank Chief spoke about the obstacles that can affect the levels of the Iraqi market and economy in General, as the Iraqi experience is similar to the experience of other countries."

    He said, "the Central Bank unable to control the foreign currency flowing to Iraq and some of them may be false, that Iraq has become an open market and funds are transferred through exchange offices, money orders, and by persons travelling to and from Iraq."

    In related news, the source said, "counterfeit cash cent groups specifically very low dollar Iraq, particularly since Iraq announced that the Interior of any machine or gangs of counterfeiting of foreign currencies after 2008 after adjusting several gangs trafficking in fake dollars were seized a few thousand dollars in time."

    In return, Ahmed Hassan said Faizullah, a member of the parliamentary Finance Committee, said the Committee "discussed with the Governor of the Central Bank of file changes on the Iraqi currency, and everyone came to believe the difficulty deleting zeros or add new currencies and coins, for several reasons, including the absence of a genuine market and the possibility of confusion in case start pumping new currencies or delete zeros."

    Faizullah, said in an interview with "the world" today, "the currency issue is sensitive and very expensive and have a direct impact on the Iraqi Street. Is not easy to start a project like this."

    But Faizullah believes that the central demands of solving the problem of corruption of the current currency, the Finance Committee addressed the Central Bank regarding certain categories of low-cash which must be replaced because it is linked to the food of the poor."

    "Replace other low classes of metal is very expensive because the coins are heavy and printed are higher, and this causes the country bleeding more than it is now in the low currency loss that can be processed by the Central Bank to replace."

    , Said Muhammad Mohan, his Office Bank in Baghdad, for "the world", "its new $100 came slowly to Iraq."

    He said, ' new banknotes with higher specifications than the old $100 specification because it includes the additional hidden fees and his unveiling of the face than the previous currency."

    Mohan, stressed that "the new currency introduced in 2009 but reached the Iraqi market late date produced almost a year ago I had a conversation about not traded in the market for it holds informal specifications can be rigged".

    He continued, "people expressed surprise at the currency because it is very modern, especially that somewhat different form of currency that is used by people, and there have been some problems."

    And the ease of circulation, said Mohan, in exchange offices do not find lowest level in dealing with it because we know it's official currency and can be replaced by remittances to accept replacement without charge, or succumb to the desire by the handle and replace. "

    For his part, said the Central Bank, for "the world", "the Central Bank auctions has not deliberated the new dollar, for a sufficient stock of dollar product in previous years."

    He noted that "the remittance offices receive category without fear because they know their eligibility and lack of seriousness of this expedition, and became a citizen beyond such things."


  2. #2
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    A new currency not good for us.

  3. #3
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    Quote Originally Posted by geerty View Post
    A new currency not good for us.
    What ever they have plan it will goes into 1:1 ratio TRUST ME....

  4. #4
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    Quote Originally Posted by BatmaninIraq View Post
    What ever they have plan it will goes into 1:1 ratio TRUST ME....

    TRUST ME............................are you a Doctor?
    A day without laughter is a day wasted: Charlie Chaplin. :cheeky-smiley-025: :yelrotflmao:

    NO RV TODAY! MAYBE TOMMOROW! :shhh:

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    You can keep it unless you lose it

    Quote Originally Posted by English Bob View Post
    TRUST ME............................are you a Doctor?
    More like a Democrat probably.
    ---------------------------------------------------------------
    "Sumerian News", that "the real value of the coin is the value of goods received by the individual and on the strength of the national economy"

  6. #6
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    US $100? That must be the 100,000 Dinar note we were hearing about several months ago. Very strange situation. But it was predicted by one of the old timers here about 9 years ago, that there would be a heck of a lot of dis-information, smoke & mirrors prior to any RV.
    [Still kicking]

  7. #7
    Supporter and Investor! millionairetobe71's Avatar
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    Wink

    Quote Originally Posted by 40plus View Post
    US $100? That must be the 100,000 Dinar note we were hearing about several months ago. Very strange situation. But it was predicted by one of the old timers here about 9 years ago, that there would be a heck of a lot of dis-information, smoke & mirrors prior to any RV.
    I remember !!! Actually it was me the one who predicted that with them magical forecast of my hand crafted, personally connected, limited edition black and gold Magic 8 Ball......

    MTB71
    "We are ready for an unforeseen event that
    may or may not occur." --Al Gore, VP :swear:

  8. #8
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    Quote Originally Posted by millionairetobe71 View Post
    I remember !!! Actually it was me the one who predicted that with them magical forecast of my hand crafted, personally connected, limited edition black and gold Magic 8 Ball......

    MTB71

    Cool. So, what do you think of the current state of affairs regarding the dinar? Are we ready for an unforeseen event that may or may not occur????
    [Still kicking]

  9. #9
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    remember the sophisticated WWEEAAPPOONNSS for sophisticated CCUURREENNCCYY??? Lol...

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