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

Proven
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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


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Post by mochasmom on Tue 14 Apr 2015, 5:45 am

Thanks Duck
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Post by duck2000 on Tue 14 Apr 2015, 5:47 am

or we have the third option if you beleive its a lop! >>>> sell..sell...selllll
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Post by duck2000 on Tue 14 Apr 2015, 5:58 am

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?
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Post by duck2000 on Tue 14 Apr 2015, 6:00 am

[You must be registered and logged in to see this link.] wrote:Sat, 11 Apr 2015 12:51:57
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Announced the parliamentary finance committee member Masood Haider, on Saturday, the formation of a committee to study the coins version of the categories of the fifty and one hundred thousand Iraqi dinars, stressing that these categories booting to remove zeros from the Iraqi currency in the future. Haider said in a statement seen by "agency Sama Baghdad news" that "the Governor of the Central Bank and the committee studying the issue has not been printed this currency so far," noting that "the Society Committee is considering all secure aspects and compared with other currencies began to release.""The work on the issuance of these two categories booting to remove zeros from the Iraqi currency in the future," explaining that "there is a procedure to remove three zeroes must be the presence of large groups of currencies in the future, for example, instead of 50 000 is 50 dinars." 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."

is 50 dinars!
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Post by wciappetta on Tue 14 Apr 2015, 6:07 am

[You must be registered and logged in to see this link.] wrote:50 dinars is 50.000 dinar.. one dinar is thousand fills! remove the zeros and you have 50 dinar or one dinar! this is iraq one 0 one!

Yep that's what they're saying, I knew that the report was mistranslated...
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Post by weslin3 on Tue 14 Apr 2015, 7:37 am

Let's do the dance.... duck Thanks duck and ward for that clarification.
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Post by Proven on Tue 14 Apr 2015, 9:08 am

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
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Post by Bama Diva on Tue 14 Apr 2015, 9:25 am

[You must be registered and logged in to see this link.] 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. 
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Post by weslin3 on Tue 14 Apr 2015, 9:52 am

If it doesn't happen exactly on that date, we are very close... It is pointing in that direction.
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Post by wciappetta on Tue 14 Apr 2015, 10:18 am

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


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