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Parliamentary Economic reveal near issuing new coins from the category of 50 to 100 000 dinars

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Proven
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Parliamentary Economic reveal near issuing new coins from the category of 50 to 100 000 dinars

Post by Proven on Mon 13 Apr 2015, 11:47 am

First topic message reminder :

Need to draw down the money supply more and pass the investment law amendments.  


Parliamentary Economic reveal near issuing new coins from the category of 50 to 100 000 dinars

April 13, 2015
Fayhaa Economics

Najiba Najib Parliamentary Economic Commission revealed near issuing new coins of the 50 and 100 000 dinars category, while showed that the central bank began issuing new designs for the new currency.
A member of the parliamentary Economic Committee Najiba Najib said the agreement on the issuance of new currency has been, in addition to issuing the CBI 25 thousand dinars category of the new model. She Najib said the project to delete the zeros from the currency will not be implemented because of the lack of success of the project appropriate economic environment, despite being one of the objectives of the Central Bank, noting that the issuance of large coins will help in carrying large amounts of money simple sizes, but parliamentary sources confirmed that the current financial situation may prevent speeding up the process thrown into the market during the current period.

Kausar Asadi


http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sl=ar&tl=en&u=http://www.alfayhaa.tv/%3Fp%3D43782&usg=ALkJrhjKs0eaBuMPVvSe8n77W-NMJrrI6g

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Re: Parliamentary Economic reveal near issuing new coins from the category of 50 to 100 000 dinars

Post by wciappetta on Tue 14 Apr 2015, 1:35 pm

@Proven wrote:
@wciappetta wrote:
@Proven wrote:I believe the below statement indicates that implementation would start at a point when it would not draw down the CBI's balance of dollars.  This would occur when investors rush in to purchase dinars with dollars.  Any other ideas?  

He stressed that "the launching of a currency so does not affect the balance of the Iraqi currency against the dollar and foreign," noting that "that affects the balance of the Iraqi currency is a strong economy in general

Well my thought as I mentioned before, the perspective is from inside looking out dispelling the idea that new smaller notes will require a bag to cart them to the store to buy what large note bought prior to the revalue. That is what they mean  "not affecting the balance"ie buying power and that term really means not affect the balance in a negative way. 

The CBI controls the circulation and this is a planned event thus a coordinated one with the banking system. Once instituted the note count is automatically balanced with the required demand as was the day before.

There won't be a rush to buy dinar until foreign investment demands it in country and I mean business development,  which happens after the revalue,  enabling the CBI [and the banking system] to manage the demand for dinar/ calculations easier. Between economic demand and oil revenue, transaction fees the CBI will become flush with dollars ... enabling a easy balance in the management of the economy through its monetary policy.

In this case and strictly my opinion that the investment law and  formal HCL will not become law before the revalue is realized. It may even get approved in the Parliament but as we saw  with the budget it's not effective until it appears in the Gazette... Both of those laws represent triggers for investment and the bulk of the investment will hold back until the rules for conduct are official.

Ok that's my thoughts, my opinion...

Good explanation.  I have often thought that bringing in investors was just an excuse to raise the value, but necessary for the long term economic development of Iraq.  We know they have a schedule for events.

We can see that the delete the zeros project is being preceded by reducing the money supply through reduced dollar sales and electronic remittances.  However, this is also causing inflation.  

Keep in mind, as inflation rises, it drains more dinar out of the money supply.  Inflation is helping the process, but hurting the people.  At what point is enough?  Only the Iraqis know the answer.  I can see it happening when inflation pressure becomes unbearable for the Iraqis.  The people will demand the government to take action.    


I'd say they're screaming "Uncle" now, they want an answer and only one will be presented, our favorite....

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Re: Parliamentary Economic reveal near issuing new coins from the category of 50 to 100 000 dinars

Post by Neno on Tue 14 Apr 2015, 5:42 pm

@Bama Diva wrote:
@duck2000 wrote:oh and by the way>> do we expect them to say they done the printing they are in the bank waiting for 5/1 to pass out the new dinar and rate?

5/1, mercy, I hope you are right on this date. I know a lot of people who desperately need this! It would be a huge blessing if the rate change happens this soon. 
Duck is not giving a date other than mentioning the day the new 50 takes hold but he asking if we think their goi9ng to tell us whats happening in detail.

Now if the dinar is going to be a 1000 fils, makes it very interesting as Kuwait is on the same fills as well. Just another thought.


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Issuing securities worth 50 and 100 thousand dinars: the Central Bank tries to disrupt the dollar Fe

Post by dizzydee on Tue 14 Apr 2015, 8:55 pm

Issuing securities worth 50 and 100 thousand dinars: the Central Bank tries to disrupt the dollar Ferrari

By: Gazwan on: Tuesday 04/14/2015 13:22

Iraq today / special

seems to be the US dollar, boarded Since the Ferrari car, made ​​by his government's measures and the central bank, making it at the forefront of the race with the Iraqi dinar, and the curse that has hit the dinar noted the US dollar rising, said professor of economics at the University of Mustansiriya, banking expert Maytham and coffee, "The

opening of new outlets to pump dollar, will contribute to reducing the price of the dollar, in front of the dinar, but it will put the central bank in front of a big challenge to the Iraqi constitution, "and graduated the next Laibi words in his speech for the" Iraq today "from geographically terms to the annotations simplistic, read where: "" The opening of new outlets would besiege the monopoly of the dollar selling from limited outlets, and lowers its price, but it will increase the amount of sales, a challenge faced by the central bank, and have it in front of two options, the first override the Constitution which set / 75 / million dollars a day or withdrawal of foreign reserves from the state treasury, and both will sign the Central Bank ", and before we get into the world of parliamentary views, remember, that the central bank had decided last Thursday, doubling the share of banking companies of the dollar, and to allow banks Rafidain and Rasheed and Iraqi trade, open windows to sell the dollar, companies and small importers as a measure to reduce the dollar exchange rate in the Iraqi market, and how to help the Iraqi dinar, which was riding a bicycle in his attempt to catch up with the owner of the Ferrari dollar, a member of the Economic Committee, MP for the Kurdistan Alliance, Najiba Najib announced a "new measures by Central Bank to issue pumping the category of / 50 / thousand dinars, and the category of / 100 / thousand dinars in the local market, as a measure to reduce the demand for foreign currency, and support the local currency ". It is the door of generalities to the box of privacy, we read in the coming her for" Iraq today "Next," "The coming days will witness a class trading the / 50 / thousand dinars in local markets, and after achieving success and attract the turnout will be issued a class of / 100 / thousand dinars, as a measure to support the Iraqi currency, and reduce the demand for foreign currency, and reduce banknotes trading in the market size, "and the opinion of Najib open central Nuama new to sell the dollar, we read:" The central bank action, opening new windows to sell the dollar, will achieve success in reducing its price against the Iraqi dinar, "predicted Najib then, that contributes to this measure the fuel suction from Ferrari Dollar: "I expect the decline in the dollar exchange rate against the dinar in the next few days, because of the infusion of hard currency significantly in the local market, after the rise in price to 135 thousand dinars, for each $ 100," said Najib: "The Bank Central, took the decision last Thursday, opening new windows to sell the dollar, as a measure of it to control the local currency deterioration ", and the measures taken by the Central to strengthen its position in these proceedings, disclosed Najib:" The appeal of the Central Bank in Article / 50 / in the budget that violated currency local, and led to degradation, after restricting the central bank $ 75 million, and stop the daily currency auction, will contribute to the strength of the dinar against the dollar, "and remind the reader, that the central bank had decided last Thursday, doubling the share of banking companies of the dollar, and to allow banks Rafidain and good governance and the Iraqi Trade open windows to sell the dollar companies and small importers as a measure to reduce the dollar exchange rate in the Iraqi market, and stop the decline in the local currency (the dinar) against the dollar in the local foreign exchange market by doubling the share exchange companies in auctions selling foreign exchange.

http://iraqalyoum.net/news.php?action=view&id=41666


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Re: Parliamentary Economic reveal near issuing new coins from the category of 50 to 100 000 dinars

Post by weslin3 on Wed 15 Apr 2015, 7:23 am

I like those thoughts Neno!  flower

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