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General Secretariat of the Council of Ministers: the government is seeking to have that exchange rat

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Proven
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General Secretariat of the Council of Ministers: the government is seeking to have that exchange rat

Post by Proven on Mon 04 Feb 2013, 7:32 am

Excluded the General Secretariat of the Council of Ministers replacement currency or cancellation of three zeros at this stage and it was seeking to raise the value of the dinar against the dollar, noting that the government is seeking to be the exchange rate 1000 dinars to the dollar.

The Secretary General of the Council of Ministers Ali Mohsen Ismail in a press statement, received and agency news news (et) copy of it on Monday that the project replace currency and the abolition of three zeros discussed during the last term in the Council of Ministers, stressing that the Council stressed that this project is not a priority for the government at the moment there is no real problem in this area.

He noted that the replacement of the currency in itself requires a large adjustments, as there are still issues with this side after the fall of the dictatorial regime, where the mass of currency in circulation is limited, but it has doubled now than it was at the time, and therefore the process of withdrawing this block is large and difficult task.

The secretary general said some have the wrong impression implies that the deletion of zeros will reduce the size of the money in circulation Kkamih, and indeed it does not reduce even by 1% and although the government believes that the change of currency is a good thing in the case of appropriate conditions for its application, but does not give him priority But when there are stable conditions.

He pointed out that the Iraqi dinar candidate because rising price against the dollar, and there is economic and financial viability enables dinar to be stronger than it is now, the chances of higher value available, especially with the growing backlog at the central bank, which exceeded $ 65 billion and rising steadily along with high economic growth in Iraq and is now one of the most developed countries in the world thanks to the expansion of oil production.

And the Secretary-General that the ingredients objectivity and economic available in the direction of the high exchange rate of the dinar against the dollar, adding that the government is seeking to have that exchange rate 1000 dinars to the dollar in the sense that the price of the currency class hundred dollars a hundred thousand Iraqi dinars and that any improvement in the political situation of could contribute to make this happen faster.

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Re: General Secretariat of the Council of Ministers: the government is seeking to have that exchange rat

Post by Proven on Mon 04 Feb 2013, 7:36 am

Iraqi Cabinet rules out replacing or omitting zeros from Iraqi currency
Monday, 04 February 2013 12:18 | | |


Baghdad (AIN) -The Secretariat General of the Council of Ministers ruled out replacing the Iraqi currency or crossing out the zeros from it in this phase.

A statement by the SG quoted its Secretary General, Ali al-Allaq, as saying "The project of replacing the Iraqi currency and omitting the three zeros from it was discussed in past period at the CoM where the Council stressed that this topic is not within the priorities of the Council since there is no problem in this respect."

"The Iraqi Government thinks that changing the currency needs suitable and stable circumstances," he added confirming "This proposal will be given priority if the stable conditions are there."

"The price of the Iraqi Dinar is expected to rise against the US Dollar encouraged by the increase of the currency reserve accumulated at the Central Bank of Iraq in addition to the revival of the economic growth of Iraq," Allaq concluded. /End/

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Re: General Secretariat of the Council of Ministers: the government is seeking to have that exchange rat

Post by Proven on Mon 04 Feb 2013, 7:39 am

Cancelling zeros from currency unexpected, Cabinet
2/4/2013 2:32 PM

BAGHDAD/ Aswat al-Iraq: The General Secretariat of the Iraqi Cabinet did not expect that the Iraqi currency will be changed or cancelling the three zeros at this time.

Secretary General Ali Muhsin Ismael said that the government is trying to increase the value of the dinar to the US dollar.

He added that cancelling the zeros is "not of priority to the government".

Ismael expected that the Iraqi dinar value is expected to be increased in comparison to US dollar, due to the increase in the reserves in the Central Bank of Iraq which reached to 65 billion dollars.

He pointed out that the government is trying to reach the level 1000 Iraqi dinar as equivalent to one US dollar.

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Re: General Secretariat of the Council of Ministers: the government is seeking to have that exchange rat

Post by Proven on Mon 04 Feb 2013, 9:24 am

Here is the key:

And the Secretary-General that the ingredients objectivity and economic available in the direction of the high exchange rate of the dinar against the dollar, adding that the government is seeking to have that exchange rate 1000 dinars to the dollar in the sense that the price of the currency class hundred dollars a hundred thousand Iraqi dinars and that any improvement in the political situation of could contribute to make this happen faster.

Along with:

The Secretariat General of the Council of Ministers ruled out replacing the Iraqi currency or crossing out the zeros from it in this phase.

This is the "restructuring" of the currency.
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Re: General Secretariat of the Council of Ministers: the government is seeking to have that exchange rat

Post by Neno on Mon 04 Feb 2013, 9:28 am

Tell you all what, 1000:1 is a good opening start imho if that is what they want to open it at (NOT!!). Now at 1770, that would be a great change with more to come... ;)


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Re: General Secretariat of the Council of Ministers: the government is seeking to have that exchange rat

Post by Proven on Mon 04 Feb 2013, 9:42 am


Information is being widely distributed. Another article on another website:

2013-02-04 16:23:08

Excluded the General Secretariat of the Council of Ministers replacement currency or cancel three zeros them at this stage and it is seeking to raise the value of the dinar against the dollar, noting that the government seeks to be the exchange rate 1000 dinars to the dollar.
said Secretary General of the Council of Ministers Ali Mohsen Ismail said in a statement news, the agency received news news (et) a copy of Monday 4 \ 2, the project replace currency and the abolition of three zeros discussed during the last term in the Council of Ministers, stressing that the Council stressed that this project is not a priority for the government at the moment there is no problem real in this area.
and pointed out that the replacement of the currency in itself requires a large adjustments, as there are still issues with this side after the fall of the dictatorial regime, where the mass of currency in circulation is limited, but it has doubled now than it was at the time, and therefore the pull this block is a difficult task and large.
Secretary-General stressed that some have the wrong impression implies that the deletion of zeros will reduce the size of the money in circulation Kkamih, and fact that he does not reduce even by 1% and although the government believes that the change of currency is a good thing if the presence of suitable conditions to be applied, but does not give him the priority only when new stable conditions.

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Re: General Secretariat of the Council of Ministers: the government is seeking to have that exchange rat

Post by Neno on Mon 04 Feb 2013, 9:47 am

No matter, and thanks Proven. Bring it on the 1000:1, I am sure the sidelines are waiting... ;)


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Re: General Secretariat of the Council of Ministers: the government is seeking to have that exchange rat

Post by Proven on Mon 04 Feb 2013, 9:51 am

[You must be registered and logged in to see this link.] wrote:Tell you all what, 1000:1 is a good opening start imho if that is what they want to open it at (NOT!!). Now at 1770, that would be a great change with more to come... ;)

In previous articles, the central bank stated that the restructuring would make the 100 dinar note equal to 100 thousand dinars. Clearly stating that the currency is not going to be replaced could only mean one thing!
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Re: General Secretariat of the Council of Ministers: the government is seeking to have that exchange rat

Post by Neno on Mon 04 Feb 2013, 10:15 am

If it was actually true Proven, then I would answer concurrently meaning, lower denoms in Iraq and the rest as I have always said, when they come in, they will be used for inter banking transactions.. ;)


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Re: General Secretariat of the Council of Ministers: the government is seeking to have that exchange rat

Post by notazbad2000 on Mon 04 Feb 2013, 10:18 am

[You must be registered and logged in to see this link.] wrote:If it was actually true Proven, then I would answer concurrently meaning, lower denoms in Iraq and the rest as I have always said, when they come in, they will be used for inter banking transactions.. ;)

And boy will they have an influx coming in the future!


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