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Established in 2006 as a Community of Reality

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CBI celebrates the first national currency 86 years ago

rocky
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Post by rocky on Fri 16 Mar 2018, 8:12 am

First topic message reminder :

[size=30]CBI celebrates the first national currency 86 years ago[/size]
16/03/2018 02:18 | Number of readings:
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[rtl]Trend Press / Baghdad[/rtl]
 
[rtl]The Central Bank of Iraq celebrates on Friday the 86th anniversary of the first national currency after the declaration of the establishment of the modern Iraqi state.[/rtl]


[rtl]The Central Bank said in a statement received "Trend Press" a copy of it, "Today passes us the 86th anniversary of the issuance of the first Iraqi currency of the Iraqi state, the dinar, which was issued on 16/3/1932."[/rtl]

[rtl]He pointed out that "the dinar was taken as a basic unit of the Iraqi currency and worth a thousand fils, and was carrying the image of King Faisal I, heading to the left"He said.[/rtl]


[rtl]"The purchasing power of the Iraqi dinar was 7.3 grams gold"He said.[/rtl]


[rtl]He pointed out that "the currency committee was the responsible party, and the dinar was signed by its members: the chairman of the committee, Helten Young, the representative of the Iraqi government Jafar al-Askari, Bertram Hornsby was appointed by the Bank of England, Viscount Ghoshin representing banks operating in Iraq, Representative of banks operating in Iraq. "[/rtl]

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ron-man
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Post by ron-man on Fri 16 Mar 2018, 9:49 am

I like it, this could mean something.
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Post by weslin3 on Fri 16 Mar 2018, 10:50 am

thumbs2 tongue
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Post by Lobo on Fri 16 Mar 2018, 11:16 am

Sounds great, does anyone know what the gold was worth at that time? 

Dance banna2 banna3
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Post by Zuzu on Fri 16 Mar 2018, 2:00 pm

[You must be registered and logged in to see this link.] wrote:Sounds great, does anyone know what the gold was worth at that time? 

Dance banna2 banna3

$20.67  [You must be registered and logged in to see this link.]


1939
$35.00
 
1938
$35.00
 
1937
$35.00
 
1936
$35.00
 
1935
$35.00
 
1934
$35.00
 
1933
$32.32
 
1932
$20.67
 
1931
$20.67
 
1930
$20.67
 
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Post by Lobo on Fri 16 Mar 2018, 2:05 pm

WOW, GOOD LORD, THANKS ZUZU
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Post by Screwball on Sat 17 Mar 2018, 3:13 am

Well this changes things, maybe shabibi saying $12 is not that’s unreasonake if countries are moving to asset back currencies..
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Post by wciappetta on Sat 17 Mar 2018, 6:26 am

28.34 grams to the ounce thus 7.3 grams of gold value is $5.32 thus by the  cbi declaration and ZUZU's ledger the dinar carried a value  $5.32

Lol I remember laughter among investors at the thought of such a number.  It will return to such a level for a short period of time.


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[You must be registered and logged in to see this link.] For I know the thoughts that I think toward you, saith the LORD, thoughts of peace, and not of evil, to give you an expected end. Then shall ye call upon me, and ye shall go and pray unto me, and I will hearken unto you. And ye shall seek me, and find me, when ye shall search for me with all your heart.
weslin3
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Post by weslin3 on Sat 17 Mar 2018, 6:40 am

[You must be registered and logged in to see this link.] wrote:28.34 grams to the ounce thus 7.3 grams of gold value is $5.32 thus by the  cbi declaration and ZUZU's ledger the dinar carried a value  $5.32

Lol I remember laughter among investors at the thought of such a number.  It will return to such a level for a short period of time.

On that short period of time, what do mean by that? It will be that rate at first for a short period? Or what?? Thanks Ward..
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Post by sassy on Sat 17 Mar 2018, 7:05 am

Wow !!!  Omg, that would be a very nice little rate!!!  I remember discussing this before and think it was at least 18 months to 2 yrs wasn’t it Ward?  Been a while!  Man, that would be fantastic if it came in at that number!!!  drunk


Last edited by sassy on Sat 17 Mar 2018, 7:24 am; edited 2 times in total
weslin3
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Post by weslin3 on Sat 17 Mar 2018, 7:14 am

I remember it being discussed.. But almost unbelievable... laugh

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