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Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


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    Central bank of Iraq to issue large-value banknotes

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    Central bank of Iraq to issue large-value banknotes Empty Central bank of Iraq to issue large-value banknotes

    Post by lonelyintexas Tue 26 May 2015, 10:22 am

    Central bank of Iraq to issue large-value banknotes

    Issuing large-value banknotes while lending the government will lead to price inflation

    11/05/2015 2:51 pm EDT




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    Iraqi-Dinars

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    In an important step to support the economy through monetary reform, the Central Bank of [You must be registered and logged in to see this link.] plans to issue banknotes with larger values than the ones in circulation, a senior official says.

    Mazhar Mohammed Saleh, economic adviser to the prime minister, says that the market needs large-value banknotes, because the dealing with large blocks of money in Iraq is very difficult, especially with cash transactions surpassing payment instruments, such as sukuk, cards and electronic payments, reports Saudi-based Al-Hayat.

    He points out that issuing large-value banknotes is not related to monetary policy but to the payments system management.

    He adds that this plan will reduce the amounts of money, especially large blocks that make up 90 per cent of the money supply in circulation.

    The economic adviser explains that the issuance of these large-value banknotes is to put the same amount of monthly money supply in the market but with different categories and not increase the original amount.

    He ruled out the potential for inflation because of the implementation of the project, pointing out that the CBI does not lend the government.

    Saleh says, “Issuing large-value banknotes while lending the government will lead to price inflation.” He adds, “The country is suffering from a contraction in liquidity both in dinar [and] in dollar, with the value of money supply less than 40 trillion dinars (about $31 billion).”

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    Wow, could this be a new 50.  I don't know just happened across this.
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    Post by lonelyintexas Tue 26 May 2015, 10:38 am

    Well, after further investigation it is a 50 Euro note.  But the article is trying to use the comparison that the new Iraqi Dinar 50 notes will have more value.
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    Post by mochasmom Tue 26 May 2015, 11:39 am

    When lit, when, lol!!!
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    Post by Neno Tue 26 May 2015, 12:10 pm

    He points out that issuing large-value banknotes is not related to monetary policy but to the payments system management.


    There you go, transaction use...
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    Post by notazbad2000 Tue 26 May 2015, 12:13 pm

    They are keeping us on our toes!
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    Post by wciappetta Tue 26 May 2015, 2:59 pm

    Neno wrote:He points out that issuing large-value banknotes is not related to monetary policy but to the payments system management.


    There you go, transaction use...

    Yeah transacting a pack of smokes, soda, gum that's what they mean by managing the payment system, carrying a fifty instead of a 25K because it's hard to make change on a note worth $80K ... king
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    Post by weslin3 Tue 26 May 2015, 3:15 pm

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    Post by Neno Tue 26 May 2015, 3:59 pm

    wciappetta wrote:
    Neno wrote:He points out that issuing large-value banknotes is not related to monetary policy but to the payments system management.


    There you go, transaction use...

    Yeah transacting a pack of smokes, soda, gum that's what they mean by managing the payment system, carrying a fifty instead of a 25K because it's hard to make change on a note worth $80K ... king
    Ok but, I agree to disagree as I still go with the large notes 50,000 and 100,000 for bank to bank and international trade management reasons. For me what you say is monetary policy and I truly hope the 25k is worth $80k soon...Like December, lol.. ;)
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    Post by jedi17 Tue 26 May 2015, 5:25 pm

    k....Neno....I have no idea how to read between the lines, so when you say "Like December, lol...;)" I have no idea if you are being sly, sarcastic or a little coy.  Just give it to this Canadian straight!! lol
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    Post by Ronbo Tue 26 May 2015, 5:59 pm

    jedi17 wrote:k....Neno....I have no idea how to read between the lines, so when you say "Like December, lol...;)" I have no idea if you are being sly, sarcastic or a little coy.  Just give it to this Canadian straight!! lol

    He's being a neener and wanting them to hold off til Dec so he can buy more deeeenar study   freak

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