The application of the law of the fish: the issuance of large denomination threatens small
13:46:52 2016-01-15 | (Voice of Iraq) - After the Iraqi Central Bank to issue currency category (50) thousand dinars began increasing people's fears of extinction of small currency and rising prices again. Talk | Baghdad surprised Mohamed Mahmoud as he takes on the monthly salary the existence of a new class of securities, a fifty-thousand Iraqi dinars category and that the Iraqi Central Bank announced its intention printed in atheist tenth of the month of November - last November.
Mahmoud His high salary relatively believes in the existence of this currency makes it easier he carried his salary without draw attention to him, especially as he is forced to cut large walk of the government department in which it operates and even the place which leaves his car in it. "I previously had to hide the salary black bags because the amount that Otzlmh relatively large presence of small groups of five thousand category or ten thousand is a danger some thing because pedestrians come to their notice my pregnancy a large amount of Mali while I came out of the circle, which makes me vulnerable to thieves, "says Mahmoud.
But some believe that the new with the fifty thousand class paper would hurt a lot Boodall living like Ali Abdul Sattar, who works wages daily in the capital, Baghdad Secretariat. young man Ali, who receive a daily ten thousand Iraqi dinars allocated amount thousand dinars them to go back and forth from his home to the Secretariat building and vice versa He fears that the freight rise in one of five hundred dinars to the road to the ground which means doubling the sum earmarked for transfer with expected drop in the daily wage to him, according to the approved by the government to reduce public expenditures, especially salaries and wages of its employees by three percent.
In practical terms there is nothing to confirm fears but he cites the high transport fares from 250 dinars to 500 dinars when printed banknote with twenty-five thousand class a few years ago. "We had coins of small categories with categories Coins (25) dinars and 100 dinars and no longer exists today basically," says Ali. disappearance of these currencies of daily trading means directly rise in the prices of cheap goods to the highest in turn affect the inflation index in the country, which would be its effects are clear to those with middle and low income mainly levels. Valslah that were sold, for example, (250) dinars price could rise to (500) which means a decrease in the value of thousand dinars unit approximate to measure the prices in the local market to half (one thousand dinars, worth almost US $ 0.8).
Central Bank of Iraq began distributing small quantities of the new currency on some state departments and some banks to gradually raise the amount even access to the volume scheduled . Economists and although they do not see a direct correlation between the issuance of large groups of currency and the decline in the value of small groups, but they reckon check the decline actually what they describe temperament Iraqi market and the consumer alike.
"The Iraqi market is not subject to the standards of their counterparts in the rest of the world is well known that the version of the big groups come to reduce the money supply, especially in the corporate, business and other segments of the large trading ".. says economic researcher Bassam As. He adds as" there is a mood in the local market back consumer desire primarily to the reduction of the value of small groups in the case Large groups become current dramatically and this is what is difficult to explain, in fact.
"According to the researcher himself, the solution is to keep large groups currencies for the enjoyment of its benefits in the big trade with the continuation of the Central Bank of Iraq in small groups issuing currency to keep it fresh in daily transactions and strengthened procedures for challenge of any expected price inflation.
In all cases, the The new currency was issued and began to spread in the local market gradually as planned central bank is that the spread of caution reflects to some extent the concerns of traded currencies subject to fisheries law, which feared by middle and low income earners in case I ate big Currency small counterpart and was replaced in the local market.
[You must be registered and logged in to see this link.]
13:46:52 2016-01-15 | (Voice of Iraq) - After the Iraqi Central Bank to issue currency category (50) thousand dinars began increasing people's fears of extinction of small currency and rising prices again. Talk | Baghdad surprised Mohamed Mahmoud as he takes on the monthly salary the existence of a new class of securities, a fifty-thousand Iraqi dinars category and that the Iraqi Central Bank announced its intention printed in atheist tenth of the month of November - last November.
Mahmoud His high salary relatively believes in the existence of this currency makes it easier he carried his salary without draw attention to him, especially as he is forced to cut large walk of the government department in which it operates and even the place which leaves his car in it. "I previously had to hide the salary black bags because the amount that Otzlmh relatively large presence of small groups of five thousand category or ten thousand is a danger some thing because pedestrians come to their notice my pregnancy a large amount of Mali while I came out of the circle, which makes me vulnerable to thieves, "says Mahmoud.
But some believe that the new with the fifty thousand class paper would hurt a lot Boodall living like Ali Abdul Sattar, who works wages daily in the capital, Baghdad Secretariat. young man Ali, who receive a daily ten thousand Iraqi dinars allocated amount thousand dinars them to go back and forth from his home to the Secretariat building and vice versa He fears that the freight rise in one of five hundred dinars to the road to the ground which means doubling the sum earmarked for transfer with expected drop in the daily wage to him, according to the approved by the government to reduce public expenditures, especially salaries and wages of its employees by three percent.
In practical terms there is nothing to confirm fears but he cites the high transport fares from 250 dinars to 500 dinars when printed banknote with twenty-five thousand class a few years ago. "We had coins of small categories with categories Coins (25) dinars and 100 dinars and no longer exists today basically," says Ali. disappearance of these currencies of daily trading means directly rise in the prices of cheap goods to the highest in turn affect the inflation index in the country, which would be its effects are clear to those with middle and low income mainly levels. Valslah that were sold, for example, (250) dinars price could rise to (500) which means a decrease in the value of thousand dinars unit approximate to measure the prices in the local market to half (one thousand dinars, worth almost US $ 0.8).
Central Bank of Iraq began distributing small quantities of the new currency on some state departments and some banks to gradually raise the amount even access to the volume scheduled . Economists and although they do not see a direct correlation between the issuance of large groups of currency and the decline in the value of small groups, but they reckon check the decline actually what they describe temperament Iraqi market and the consumer alike.
"The Iraqi market is not subject to the standards of their counterparts in the rest of the world is well known that the version of the big groups come to reduce the money supply, especially in the corporate, business and other segments of the large trading ".. says economic researcher Bassam As. He adds as" there is a mood in the local market back consumer desire primarily to the reduction of the value of small groups in the case Large groups become current dramatically and this is what is difficult to explain, in fact.
"According to the researcher himself, the solution is to keep large groups currencies for the enjoyment of its benefits in the big trade with the continuation of the Central Bank of Iraq in small groups issuing currency to keep it fresh in daily transactions and strengthened procedures for challenge of any expected price inflation.
The presence of cash and paper category (50) thousand dinars, equivalent to $ (42) US $ will facilitate daily trading in large trades by contributing significantly to the reduction of the money supply by almost half as the paper cash Top previously value was of category (25) thousand. While the continued issuance of small groups currencies will maintain the value of goods low prices and prevent high prices.
The central bank for his part did not rule out the domestic market affected by the issuance of a new currency with the fifty thousand class therefore decided to postpone the issuance of currency with a hundred thousand dinars category approved by the former to avoid any inflation while the aim of the issuance of the fifty thousand class was reducing the size of the currency used in daily trading, which in turn led to the lifting of the rate of inflation, according to the announcement earlier in the bank's governor on the Keywords.
In all cases, the The new currency was issued and began to spread in the local market gradually as planned central bank is that the spread of caution reflects to some extent the concerns of traded currencies subject to fisheries law, which feared by middle and low income earners in case I ate big Currency small counterpart and was replaced in the local market.
[You must be registered and logged in to see this link.]
Yesterday at 7:52 am by Rocky
» utube 3/28/24 MM&C Iraqi Dinar - IQD Update - SWIFT - Purchasing Power - Urban Renaissance - Releas
Yesterday at 7:51 am by Rocky
» Al-Mandalawi: Iraq is witnessing competition between major companies...and the House of Representati
Yesterday at 7:49 am by Rocky
» The President of the Republic stresses the importance of the role of programmers in developing the w
Yesterday at 7:46 am by Rocky
» The Minister of Industry and Minerals follows up on the technical and production performance of the
Yesterday at 7:45 am by Rocky
» The Minister of Finance is following up on the field the progress of the newly implemented ASYCUDA s
Yesterday at 7:44 am by Rocky
» Statistics: There are more than 15 million bank accounts in Iraq
Yesterday at 7:42 am by Rocky
» Representative: One paragraph hinders the passage of a general amnesty within the House of Represent
Yesterday at 7:37 am by Rocky
» Parliamentary Finance: “The draft federal budget law will be devoid of new job grades.”
Yesterday at 7:36 am by Rocky
» Parliamentary action to resolve the fate of “food security contracts” in 15 governorates
Yesterday at 7:35 am by Rocky
» 300 factories turned into "iron scrap" in Diyala
Yesterday at 7:34 am by Rocky
» A deputy expects the dollar exchange rate to reach 140 Iraqi dinars
Yesterday at 7:32 am by Rocky
» Al-Yasiri: The American administration is working hard to destroy the Iraqi economy
Yesterday at 7:31 am by Rocky
» Infographic: The highest annual salaries of leaders of Arab countries
Yesterday at 7:30 am by Rocky
» Communications announces that the electronic signature project has reached advanced stages
Yesterday at 7:29 am by Rocky
» Parliamentary Integrity presents a file related to Kuwaiti violations of Iraqi oil
Yesterday at 7:27 am by Rocky
» Parliamentary move to include amendments to Parliament’s internal regulations on the agenda (documen
Yesterday at 7:25 am by Rocky
» The Iraqi President urges the Minister of Finance to expedite the payment of salaries to the Kurdist
Yesterday at 7:23 am by Rocky
» Central Bank of Iraq sales exceeded $251 million at today’s auction
Yesterday at 7:21 am by Rocky
» The Foreign Minister questions the "Iraqi resistance" attacks against Israel: the other side did not
Yesterday at 7:20 am by Rocky
» The Minister of Labor announces progress in the electronic payment system
Yesterday at 7:17 am by Rocky
» Interior Ministry: For the first time, we controlled the smuggling of petroleum derivatives by 98 pe
Yesterday at 7:16 am by Rocky
» International companies offer offers to invest in the Dhi Qar marshes.. What distinguishes them?
Yesterday at 7:15 am by Rocky
» “Tough” comments on interest rates raise the dollar globally
Yesterday at 7:14 am by Rocky
» Iraq is the fifth largest oil supplier to South Korea in a month
Yesterday at 7:12 am by Rocky
» Recovering more than 100 billion as a result of more than 200,000 employees on social welfare
Yesterday at 7:11 am by Rocky
» The Sudanese consultant announces the completion of Baghdad Metro track designs
Yesterday at 7:08 am by Rocky
» Al-Sudani stresses ending the problem of triple-shift schools
Yesterday at 7:07 am by Rocky
» Iraq begins building two new tankers to transport petroleum products
Yesterday at 7:06 am by Rocky
» Forming a council for “competition and preventing monopoly”
Yesterday at 7:04 am by Rocky
» Features of an Iraqi-Turkish agreement regarding the status of the Kurdistan Workers’ Party
Yesterday at 7:02 am by Rocky
» {Al-Buzrajiya} between the hammer of fraud and the power of the owners
Yesterday at 7:01 am by Rocky
» Ministry of Oil: The gas sector is witnessing great development
Yesterday at 6:59 am by Rocky
» An agreement with Britain in the field of securities
Yesterday at 6:58 am by Rocky
» Discussions between Baghdad and Ankara to open a new port
Yesterday at 6:57 am by Rocky
» Trade: About 11 million citizens updated their new card information
Yesterday at 6:56 am by Rocky
» Electronic payment is sustainable growth
Yesterday at 6:55 am by Rocky
» Experts: Iraq qualifies to be an important tourist country
Yesterday at 6:54 am by Rocky
» Amending the Health Professions Law “robs” scientists of the central appointment 3 years after it wa
Yesterday at 5:20 am by Rocky
» Is the “blessings package” that Erbil paid to the citizens of Kurdistan related to the elections?
Yesterday at 5:19 am by Rocky
» Exceeded 5,000 projects.. Allocating 10 trillion dinars to support governorate reconstruction plans
Yesterday at 5:18 am by Rocky
» “His need no longer exists.” Parliamentary Finance confirms the necessity of returning the retiremen
Yesterday at 5:17 am by Rocky
» To communicate with the bases... 12 directives from Al-Sadr, including blocking numbers for non-gove
Yesterday at 5:15 am by Rocky
» In an interview with "Baghdad Today"... an Iranian researcher reveals the importance of Haniyeh's vi
Yesterday at 5:14 am by Rocky
» After it was 63 trillion in 2023... the 2024 budget deficit will rise to 80 trillion dinars
Yesterday at 5:13 am by Rocky
» Parliament reveals the date of the first evaluation of the governors and determines the party respon
Yesterday at 5:11 am by Rocky
» The President of the Republic informs Al-Araji and Al-Basri: Momentum must be mobilized to eliminate
Yesterday at 5:10 am by Rocky
» Can the Federal Court sue others? A legal clarification of its response mechanism to abuse
Yesterday at 5:09 am by Rocky
» Despite promises to soon stop burning gas.. What is the secret behind Iraq renewing the Iranian gas
Yesterday at 5:07 am by Rocky
» Advisor to Al-Sudani: The dollar is on the way to further decline, and 70% of Iraqi traders have ent
Yesterday at 5:06 am by Rocky
» Iraq exported more than 99 million barrels of oil last February
Yesterday at 5:04 am by Rocky
» Barzani “gives good news” to Kurdistan employees: salaries, land, and loan exemptions
Yesterday at 5:03 am by Rocky
» Alia Nassif: Nour Zuhair returned to the port of Umm Qasr to make deals.. An influential Shiite forc
Yesterday at 5:02 am by Rocky
» The Prime Minister announces the movement of nearly 500 stalled projects
Yesterday at 5:00 am by Rocky
» A government strategy to enhance investments.. Iraq is on the verge of a new era of economic develop
Yesterday at 4:59 am by Rocky
» Ranging between 20% and 50%.. The Kurdistan government decides to reduce service fees, customs dutie
Yesterday at 4:58 am by Rocky
» Al-Sudani: The reform approach in the security services is an integral part of reform in other secto
Yesterday at 4:56 am by Rocky
» Everyone in Iraq wants the Sudanese visit to Washington to be successful, even the factions!
Yesterday at 4:55 am by Rocky
» Sources and experts expect the agenda.. in his bag is the Baghdad dollar and the factions’ truce, bu
Yesterday at 4:54 am by Rocky
» The decision to raise gasoline prices arouses the ire of drivers...a reminder of the large demonstra
Yesterday at 4:53 am by Rocky
» Parliamentary services: 3 important hospitals in Baghdad will enter service at the end of the year
Yesterday at 4:52 am by Rocky
» Iraq signs a contract to supply Iranian gas for a period of five years
Yesterday at 4:50 am by Rocky
» Parliament adds a voting paragraph on amending the Penal Code to its agenda
Yesterday at 4:49 am by Rocky
» His political advisor: We are not afraid of Sudanese entering the elections alone
Yesterday at 4:48 am by Rocky
» Parliamentary services explain the reasons for the rise in real estate prices in Baghdad
Yesterday at 4:46 am by Rocky
» Attia, criticizing the government's decisions: "The citizen's feathers will be ruffled without servi
Yesterday at 4:45 am by Rocky
» Parliamentary Communications: Zain Iraq and Asiacell did not pay their debts
Yesterday at 4:44 am by Rocky
» The Governor of Karbala announces the imminent establishment of the largest industrial city in the c
Yesterday at 4:43 am by Rocky
» A government determination to end the issue of displaced persons in the middle of this year
Yesterday at 4:42 am by Rocky
» Iraq buys gas from Kurdistan to generate electricity
Yesterday at 4:41 am by Rocky
» Parliamentary signatures to include an amendment to the internal regulations to decide the choice of
Yesterday at 4:40 am by Rocky
» In Basra.. a demonstration against foreign workers in Iraqi companies (video)
Yesterday at 4:38 am by Rocky
» Al-Samarrai: Presidency of Parliament is an entitlement to the constituents, and calling it a “frame
Yesterday at 4:36 am by Rocky
» Electronic food supplies in 6 governorates... covering 11 million Iraqis and “writing off” about 700
Yesterday at 4:34 am by Rocky
» Corruption of the Ministry of Transport.. Representatives express their surprise at the minister’s s
Yesterday at 4:32 am by Rocky
» The biggest supporter of the invasion of Iraq.. The death of former US Senator Joe Lieberman
Yesterday at 4:31 am by Rocky
» Iraq is ranked “late.” A list of the most and least safe Arab countries for women
Yesterday at 4:30 am by Rocky
» The Council of Ministers exempts the Gulf Interconnection Authority from guarantee fees: it is a gov
Wed 27 Mar 2024, 7:48 am by Rocky
» The Iraqi government raises the size of the 2024 budget, and Parliament is “surprised”
Wed 27 Mar 2024, 7:46 am by Rocky
» Popular Movement: We have many economic options away from American hegemony
Wed 27 Mar 2024, 7:42 am by Rocky
» The Oil Parliament stresses the need to transfer part of the revenues to the producing governorates
Wed 27 Mar 2024, 7:41 am by Rocky
» It will cover 14 regions in eastern Iraq.. A deputy reveals the “border electricity” project
Wed 27 Mar 2024, 7:40 am by Rocky
» Experts Warn Mass Migration Threatens US Food Security
Wed 27 Mar 2024, 7:37 am by Bama Diva
» Al-Fateh: America occupies Iraq through agreements
Wed 27 Mar 2024, 7:37 am by Rocky
» Anger in Iraq over a "sudden decision"... and a reminder of a "general strike" that paralyzed the co
Wed 27 Mar 2024, 7:34 am by Rocky
» Parliamentary Committee: Parliament is discussing today a decision that “disturbed” the Iraqis
Wed 27 Mar 2024, 7:33 am by Rocky
» Ministry of Electricity: Our production will reach 27 thousand megawatts by May
Wed 27 Mar 2024, 7:31 am by Rocky
» Diagnosing the “most important” problems in the oil file between Baghdad and Erbil.. What is the rel
Wed 27 Mar 2024, 7:30 am by Rocky
» The Iraqi Fiqh Academy and the Sunni Endowment issue a fatwa to pay Zakat al-Fitr
Wed 27 Mar 2024, 7:28 am by Rocky
» The National Bank of Iraq continues its digital transformation by launching its new banking system a
Wed 27 Mar 2024, 7:26 am by Rocky
» Parliamentary Investment and the Central Bank are discussing the housing initiative
Wed 27 Mar 2024, 7:25 am by Rocky
» The Prime Minister announces the restart of 500 suspended projects
Wed 27 Mar 2024, 7:23 am by Rocky
» Al-Barti assesses the region's employees: Your salaries are insured and will be paid after resettlem
Wed 27 Mar 2024, 7:21 am by Rocky
» Iraqi-American discussions in anticipation of the Sudanese visit
Wed 27 Mar 2024, 7:20 am by Rocky
» Iraq and Turkey hold meetings in Ankara to discuss technical issues related to the development road
Wed 27 Mar 2024, 7:17 am by Rocky
» A government parliamentary agreement to support budget revenues and governorate allocations for inve
Wed 27 Mar 2024, 7:16 am by Rocky
» Oil: The gas sector is witnessing great development
Wed 27 Mar 2024, 7:15 am by Rocky
» A Kurdish-French agreement to develop trade and economic relations
Wed 27 Mar 2024, 7:13 am by Rocky
» Exchange companies in Mosul demand that they be entered into the currency selling window
Wed 27 Mar 2024, 7:12 am by Rocky