Central Bank: the issuance of three categories of cash in 2017

Central Bank: the issuance of three categories of cash in 2017


June 23, 2015


BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - Director General of the version number and inventories at the CBI Ihsan Yasiri delete the zeros of the Iraqi currency and a national project to feminine Iraqi currency, likely work on the project early in 2017.
"The Yasiri (IMN) that" the central bank began to develop the study of new designs for the currency after the removal of zeros it, "noting that" the deleted currency zeros will deliberate for Sntn in the local markets, as the bank continues to center to pull the old category of the currency over ten years. " .
He continued that "it is likely the launch of the new category from the beginning of the currency in 2017 because there are a number of opponents of the project," pointing out that "monetary Asaddaramlat category 50, 100 and 200 to ease trading burdens currency after deletion of zeros, as well as the provision of liquidity to the means of transportation of currency."
The Iraqi Central Bank decided earlier, re-exchange companies deprived of the central auction of the coin and the end of their sentences.
The central bank decided to open a window at his headquarters in Baghdad to meet delegates and scholars requests abroad in dollars and the official price.


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The Yasiri (IMN) that" the central bank began to develop the study of new designs for the currency after the removal of zeros it, "noting that" the deleted currency zeros will deliberate for Sntn in the local markets, as the bank continues to center to pull the old category of the currency over ten years. " .
He continued that "it is likely the launch of the new category from the beginning of the currency in 2017 because there are a number of opponents of the project," pointing out that "monetary Asaddaramlat category 50, 100 and 200 to ease trading burdens currency after deletion of zeros, as well as the provision of liquidity to the means of transportation of currency."

To me, I see this as a good article folks. This is telling us the projection is the rate will be strong enough in only a year and a half from now to demand the circulation of the 50, 100 and 200 to "ease the burdens" after deleting or removing the three zero notes from circulation.

Remember, this is a gradual process and the CBI is revealing more of their plan. This means we should see the rate improve to that point between now and then. The process of bringing strength to the dinar will take time. Think of it...if the exchange rate was a dime, these notes would be worth 5, 10 and 20 cents. That's a pretty darn good exchange rate! But for these notes to ease the burden of not have large notes in circulation, that means these notes will not have the role of being coins but rather their large notes. That will mean the rate will be closer to a buck. Think about the USD, the 100 dollar note is the largest note that has a decent usage in circulation (although I rarely use them!).

So, chin up...see the good news in this one!

ooo, I almost overlooked this gem:

"...as the bank continues to center to pull the old category of the currency over ten years. " .

This should also give you peace of mind that the notes we hold will not get discontinued and be useless to us like they did the 50 dinar note.

Again, good news folks. We still need to be patient but this amazing return on investment is not an "IF" but a "WHEN".

Shredd, Thanks