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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


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    Iraqi Central Bank announced on Thursday, for the withdrawal of 50 dinars

    wciappetta
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    Iraqi Central Bank announced on Thursday, for the withdrawal of 50 dinars - Page 9 Empty Iraqi Central Bank announced on Thursday, for the withdrawal of 50 dinars

    Post by wciappetta Thu 26 Feb 2015, 6:52 am

    First topic message reminder :

    Alsumaria News / Baghdad 
    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 " [You must be registered and logged in to see this link.] ", 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."

    [You must be registered and logged in to see this image.][You must be registered and logged in to see this link.]
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    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. 


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    jedi17
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    Iraqi Central Bank announced on Thursday, for the withdrawal of 50 dinars - Page 9 Empty Re: Iraqi Central Bank announced on Thursday, for the withdrawal of 50 dinars

    Post by jedi17 Sat 28 Feb 2015, 7:23 pm

    Offshore-Wealth.com wrote:Interesting,

    They made it clear there would be no need for a 50, and I agree, just as is the case with U.S. currency, I haven't seen a $50 in years in circulation, $20.'s and $100's, right.  So if the 50 dinar is being pulled, perhaps it is just as simple as that, it has not been used at .04 cents, and probably won't be used at $1.00 range either? lol

    you are right...they stated they are worthless, in fact the cheapest thing in the market was 250 dinar.  But, I think it would be used at the dollar range......but this is all speculation
    Screwball
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    Iraqi Central Bank announced on Thursday, for the withdrawal of 50 dinars - Page 9 Empty Re: Iraqi Central Bank announced on Thursday, for the withdrawal of 50 dinars

    Post by Screwball Mon 02 Mar 2015, 1:50 am

    From my source


    Just for your information, due to inflation nobody in Iraq is ever used that banknote of 50 IQD since it was first circulated till the day, it was rarely existed in the daily transaction whether in banks or markets, I remember only CBI hold amounts of 50 IQD banknotes and they don't use it in any transaction so basically this news is not that big deal
    Offshore-Wealth.com
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    Iraqi Central Bank announced on Thursday, for the withdrawal of 50 dinars - Page 9 Empty Re: Iraqi Central Bank announced on Thursday, for the withdrawal of 50 dinars

    Post by Offshore-Wealth.com Mon 02 Mar 2015, 6:20 am

    Interesting,

    Same thing my buddy in Kurdistan has said, just like here, some notes are not used very much, and the 50 dinar was hardly used in Kurdistan, which is probably true in Baghdad as well.  Better to see some news on currency rather than none, so I read this as a good indicator, and if you think it all the way true, if the U.S. had announced the $50. was to be removed, would anyone go to trouble of couterfieting it.  Perhaps the same logic is being used here, so we may not have to wait for the 60 days to see revalue.  If only banks were going to be accepting these 50 dinar notes, who would be crazy enough to start counterfieting them now.  Just a thought, so hand in there.

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    Iraqi Central Bank announced on Thursday, for the withdrawal of 50 dinars - Page 9 Empty Re: Iraqi Central Bank announced on Thursday, for the withdrawal of 50 dinars

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