A source at the Central Bank of Iraq for four companies currently competing to win a draft print the new Iraqi dinar, which will generate graceful after deleting three zeros from him, while Samay central bank to raise the value of the dinar against the dollar gradually down to the day to start replacement where the value will be in the absence of a fluctuating Iraqi dinars and one equivalent of U.S. $ one.
The source said the bank and after remarking that blockbuster buy hard currency from the auction, which is supervised by the Central deliberately to sell the dollar worth less than the previous by 3.4 points, with the imposition of conditions buy to prevent the exploitation market meet the demands of neighboring countries that suffer from economic sanctions and the devaluation of their national currencies, all of this to re-balance the local market, which saw the result of what male fluctuate rapidly in prices dinar, adding that everyone knows that the central bank succeeded actually raise the value of the dinar is thoughtful and intelligent since 2003 until now that the price of the dollar equivalent of 240 dinars, but now price tag rose to 1120 per dollar, and this is one of the most important tasks of the central bank, which is responsible for monetary policy in the country, and one of the most important endeavors is to raise the value of the national currency for purchasing power top citizen Iraqi.
was the Iraqi Central Bank announced yesterday, for his buying and selling of dollar at 1166 dinars during the auction, which is evaluated daily participation of 23 banks, after it was sell it and buy it at 1170 dinars to the dollar.
said Deputy Governor of the Central Bank the appearance of Mohammed Saleh said in remarks Media Â», thatÂ« the bank to work on raising the prices of the Iraqi dinar against the dollar during its sessions for the sale and purchase of foreign currency by four dinars and by 3.4% to reach to 1166 dinars to the dollar Â», indicating thatÂ« dinar nominal is not commensurate with the purchasing power to him or the real price the exchange rate of the dinar against the dollar. Saleh added that Â«the current account of payments Iraq where a large surplus relative to GDP and by 5-8%Â»,
stressing that Â«the surplus is the signal strength and not vice versa as well as the presence of large reserves of the BankÂ». Saleh pointed out that Â«the dollar exchange rates in the Iraqi market which recently experienced a slight increase will be affected by the decision of the Iraqi Central Bank Â», adding thatÂ« the Iraqi dinar will be attractive in the Iraqi market Â».
revealed deputy central bank governor appearance of Mohammed Saleh earlier this year for efforts to obtain the approvals of the executive and legislative to put three categories large after deleting three zeros from the Iraqi dinar, pointing out that the process of replacing the currency will take two years. As Saleh announced in (January 6 2012) from higher reserves the Iraqi Central Bank foreign currency to $ 60 billion, for the first time in the history of Iraq, while stressing its ability to curb inflation if arrived at two places decimal places, considered that current levels do not raise anxiety.
noteworthy that the CBI is being daily sessions for the sale and purchase of foreign currencies with the exception of public holidays that stop-from those auctions.
and Zkrmzar Mohammed Saleh, said that the size of the money supply, which will be printed soon consist of 28 30 billion dinars, with calculation of the currency currently in circulation up to more than 32 trillion dinars, and you measure the size of Limbering which dominated the national currency, and the size of the benefits that will befall this project in terms of the withdrawal of monetary inflation and reduce the amount of cash and other.
revealed that the form of the new currency would be like a mirror reflecting the history of Iraq and specifications will be even better than Print the dollar, and are impossible with falsified, and will be charged properties technical and aesthetic features of an Iraqi national tells the story of civilization and achievements since the dawn of history, as well as she would Arabic and Kurdish as the constitutional text on the addition of English as a global system is applied in all countries of the world.
between the groups will be equal between the metal and paper, where issued class (25, 50, 75 and 100) dinars classes metal and there of 5, 10 and 25, 50 and 100 dinars paper.
and in order to shed light on the history Iraqi currency was hired to study integrated worked on writing the responsible engineer Mahmoud Shaker al-Rubaie, who was able to document the history of the dinar in this country Since its inception and so far, which stated: - Talking about the Iraqi currency and a broad and large is linked political circumstances unstable experienced by Iraq, which led to the entry foreign currency of the policy of the occupied country, when Iraq was under Ottoman control, the (Majidi) is the currency traded in the deal has been named this currency rate to the Sultan Abdul Majeed's father Sultan Abdul Hamid, and parts Majidi is (AlaqÚh and
righteous) and continued to deal Palmgide Ottoman even enter the English in 1917 and extract the country from Ottoman control was introduced with the English (wild Indian) currency alternative in dealing and trading and parts (Anna) and usual that the new currency expel the old currency .. So ended the trading currency Ottoman having entered wild Indian to the Iraqi market and the reason for making the trading Barabah Indian instead lb English due to most troops English territories are Indians Sikhs and Alkirkh. Having crystallized when the British idea of a (Kingdom of) in Iraq and became talk about A boys Sharif Hussein to rise this task has happened in 23 / ââAugust / 1921 as crowned Faisal Ibn Sharif Hussein king of Iraq must be of this political shift that is reflected at all levels and to find him there in the currency change. It began pumping Iraqi currency called a new (penny) and this word is out of Byzantine and consists of a small circle of copper in the middle category number and below the word fils and around the circle Kingdom of Iraq and on her right Hijri and to the left Gregorian date other side image of King Faisal I written on it King of Iraq on the right and Faisal I on the left.
With the passage of (penny Iraqi) continued (wild Indian) trading until the first of October 1932 have been canceled to deal with.
after (penny) issued a coin is (two mites) and with the same specifications penny but greater than bit, then appeared (pubic) a four fils a reward currency English (brown), one of the parts pound continued to issue categories in ascending appeared ten fils a copper then twenty penny called (the Koran) and the dirham and equal to 50 fils after emerged percent fils then two hundred fils and called (Rial) and equivalent (shilling) currency English which is made ââof sterling silver and a picture of King Faisal I on the one hand and the other three palms engraved on the thick branch of a tree, a large size relative. and ten years after the coronation of King Faisal I was established Iraq Currency Board in London in 1931 and a law 44 of the same year by which printed paper currency in the sixteenth of March 1932 saw the light first Iraqi dinars bearing an image of King Faisal I on the right and the name Kingdom of Iraq at the top and category number in the middle which is written in English and the second in English , where the company (Dollarroa) British print dinar also been printed in small denominations of paper (quarter and half) in India and began the Iraqi dinar expelled wild Indian, according to the rule referred to until it was ending deal in October 1932.
The Iraqi dinar equals 1000 fils also been printed Order five dinars and ten dinars and then was put carpaccio percent dinars Royal.
With the development of political events, specifically on 26 / November / 1934 appeared new dinar He holds a picture of King Ghazi has happened after the departure of King Faisal I quickly changed this picture to be replaced by a picture of King Faisal Second, in late 1939, when the departure of King Ghazi. has continued the Iraq Currency Board printed Iraqi currency until the Act No. 43 of 47 and under which was established (National Bank of Iraq), and specifically on the twentieth of July 1947 to adopt Multi printed Iraqi currency and the existence of this bank were dispensed currency board and its Abolition in 1949, and after several years, specifically in the first of July 1956 a law was passed 72 under which changed its name National Bank of Iraq to (CBI). has not changed form the Iraqi currency and continued printing until the Republic of Iraq in 1958 and the emergence of leader Abdul Karim Kassem in his time occurred many amendments on the currency notes and coins as raised images of the three kings of all currencies were replaced (slogan Republican) new and that on the eighth of July 1958 and get a lot of variables on a coin as canceled class (Filsin) and added fils to ( pubic) to become (five fils) and Hausa popular salutes leader for his work, namely, (lived leader who Zaid pubic .. fils ..) as well as canceled (the Koran), a twenty fils replaced (twenty five fils) while retaining Dirhams and percent fils and cancel (Rial ) which is equal to 200 fils, the terms of paper currency, the category percent dinars were canceled and keep the rest of the categories of paper with the addition of symbols Iraqi her like (Palm filling Darbandikhan filling Dukan and Fort Phaenicia and Daura and waterfall entirely on your beacon humpback and Basrah silo and Helicobacter and bull winged and Lion of Babylon and ascend Kut and harp and obelisk of Hammurabi has changed shape currency only a slight change to the revolution of the seventeenth of July 1968 and began raising the slogan of the Republic to be replaced by symbols Iraqi aforementioned.
With the beginning of the eighties of the last century began to appear a coin to replace bank notes small Fezhrt 250 fils compared quarter dinars and 500 fils, compared to half dinars and 1000 fils against the dinar also issued CBI alloy of gold to the categories (gold dinar and five dinars and ten dinars gold) and sold at the prevailing gold for a short period, and in the mid-eighties of the last century began (feminine) size paper currency Starting quarter dinars and end Balashr dinars and more characteristic of this phase is the emergence of the Order of the ten dinars and has a picture of the world the great Hassan Ibn al-Haytham that Ohmt people that this currency is not an Iraqi ..!! With the deterioration of the political situation and falling exchange rate of the dinar against the dollar proceeded Government Printing new class bearing the number 25 dinars and on his face the first image of Arabian horses and the other side is for the coin was then put a picture of former Iraqi President Saddam Hussein instead of Arabian horses were printed this category in Russia. At the second of August 1990 got evolution in Iraqi politics overshadowed the dark on the country in general The currency, especially by imposing (policy economic blockade) by America and its allies, which led to the disappearance of currency all original categories and the emergence of currency printed locally Bmtaba newspapers and journals which lean and devoid of controls in place globally .. As the years siege increased print size and say the dinar exchange rate against the dollar until he arrived in 1995 to 3000 dinars to the dollar, which produced tons of currency printed locally. that monetary policy is losing its balance due (currency prosthetic) For the purpose of controlling high inflation began printing groups not defined previously, such as the fifty and one hundred dinars, carrying a picture Unknown Soldier's New The Baghdad clock hand and a picture of former President Saddam Hussein from the second and then a class AlmaĂștan and fifty dinars a poster of President as well. did not hold these banknotes in front of the dollar exchange rate with the continued printed locally even looked miserable worthless and large size Ű§ÙÙŰŻÙŰ§ prestige .. continued in 2002 was issuing a new class is a paper (10000) dinars to absorb inflation gorge and sagging big hit currency but to no avail.
After more than thirteen years on the policy of blockade and the advent of the CPA and the occupation of the country by the United States and set Bremer (Paul Bremer ), which began amending Iraqi laws as it deems is if adopted the Law on the Central Bank No. 73 of 2004 amended, which provides for printing Iraqi currency new currency and rely on dinar Republican in terms of shape and change the category to be consistent with what the corresponding currency printed locally if adopted form quarter dinars to become 250 dinars and half becomes 500 dinars dinar becomes 1000 dinars, as well as five and ten dinars become five thousand and ten thousand dinars with the introduction of a new category (25000) dinars to absorb hyperinflation in cash which are of red dye was also an instrument of coins from class 100 dinars and 50 dinars and 25 dinars, but has not been activated widely due to inflation conditions and increasing prices has begun to replace the currency from 10/01/2004 until 28/02/2005 and continuing currency trading referred to above to the present day and talk about the intention of the government remove three zeros from the Iraqi dinar to reach to levels comparable with the exchange rates of foreign currencies dry Iraqi dinar back to glory and weighs a healthy beautiful green color.
Views 140 Date 03/21/2012 - 19:00 Last updated 12/23/2012 - 03:23 News ID 2277
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