The effects of the issuance of the Iraqi Central Bank to the category of fifty thousand Dinars (6 articles)

The effects of the issuance of the Iraqi Central Bank to the category of fifty thousand Dinars





Sunday 11/22/2015

said the Iraqi Central Bank, Wednesday, November 11, 2015, issued a new banknote fifty thousand Dinars category, attributing this to the completion of the Iraqi Securities monetary structure and the development of high-class value in circulation,

and some think of analysts and economists, "The sale dollar at the central bank auction of the same amount and the introduction of the category of the 50 000 new dinars to the market without the withdrawal of the equivalent of the dinar will lead to the final collapse

"In my view it is not a relationship between the central bank auction, which is a fixed nominal rate of the dinar exchange rate against the dollar and the introduction of class the fifty thousand dinars to be traded in the local market the collapse of the dinar, but the effect will be to increase the number of times the monetary union trading (dinar) within the economy any increase money circulation speed in the Iraqi economy. According to economic theory, the process of printing a large new categories means increasing the money supply ratios ( cash flow) which have fits directly proportional to the increase in money circulation speed (trading) that speed velocity of circulation, which is directly proportional to accelerating inflation caused by high output rates of increase in new demand on the supply of goods and services due to the increase of that cash, if the demand for increased domestic goods, the displayed quasi-static at the moment for lack of a multitude production or, comparable to a foreigner so that the local product and in particular the industrial to fill the increasing demand of desirable purchased gap, as well as there are no modern techniques of agricultural production up to provide a new offer of agricultural product fills what it needs the consumer what leads to increased direction of consumer demand to the foreign product, which means that the merchant to increase import of products foreign to fill the shortage of what supply goods imported from the front of the new demand resulting from the increased liquidity that means more Iraqi imports from abroad means that increases of imports increased dollar absorption from within Iraq to the outside means to increase the desire of traders and speculators on their access to the dollar from auctions of the Central Bank and the increase that desire means to raise the dollar price within these auctions and thus increase the proportion of declining value of the Iraqi dinar against other currencies, including the dollar, which increases the desire of speculators at this time to get Dollar albeit at a price higher than the previous price within Iraq to the expectation of a decline in value of the dinar at a higher rate from the current time and the high value of the dollar.

This economic analysis may apply to any growing economy, but Iraq hath privacy as there is no economic theory that could explain the work of the Iraqi economy, Our economy is going the ability of the Almighty, only the good Lord knows how to walk the Iraqi economy because it is led by ignorant all that means this sense of the word, on the one hand, on the other hand that the money supply in the economy in excess of 40 trillion dinars her cover of foreign reserves at the Central Bank once enough and a half limit this moment any no fear of occurrence of exposure to cover the currency despite the large size of the money supply, but the rolling of which does not exceed by an estimated 25 trillion dinars, the spread of the phenomenon of compactness within the economy, and signs the recession experienced by the Iraqi economy during the other two years, which reflect the scarcity of liquidity in the local market with low inflation rate does not exceed more than 1%. And I believe that the issuance of the fifty-class thousand dinars will increase the speed of money circulation, which have a positive impact on moving the stagnant water (hoarder) cash in the case of the Iraqi Central Bank set the filtering auction currency. *, Professor of economic theory, Faculty of Management and Economics / University of Qadisiyah

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Parliamentary Economy: delete the zeros need a safe environment and next year will see the issuance of a class of 100 thousand dinars



11/22/2015



BAGHDAD / Ali Al-Shammari

A commission parliamentary economy, on Saturday, for the issuance of class 100 000 dinars cash currency early next year in order to market need to handle them, pointing out that legal action properly and in conformity with the laws of the central bank, while stressing specialists in economic affairs that the issuance of the big currencies, whether of class 50 100 000 dinars, or is part of a large project to restructure the Iraqi currency.

Said committee member economy parliamentary Najiba Najib said in an interview to the "long" that there is a tendency to issue small groups also categories of 50 and 100 dinars.

And for the project to delete the zeros confirmed Najib said "the Iraqi Central Bank completed the previously all preparations for the project, indicating that it" has been postponed because of the situation security is stable "in what it said that" the application of the project to delete the zeros needs to assign by the government and parliament to make it a success after the stabilization of the situation in the country because the ground current is suitable for the implementation of such a project.

"said Najib that" the subject of deletion of zeros is linked to the security situation closely because it will include all operating in the country banks to receive the old currency and replaced by the new and the old collection and destruction of pointing out the difficulty of the success of that process in the provinces experiencing control Daash parts of them.

"The central bank announced in the (November 11, 2015) for issuing new cash paper category 50 thousand dinars, attributing this to the completion of the Iraqi Securities monetary structure and the development of high-class value in circulation.

For his part, counting the economic expert on behalf of Anton in an interview with the "long" that the decision to delete the zeros of the Iraqi currency requires a political and security are conditions stable, stressing that "the change the Central Bank of Iraq administration caused the postponement of this project, "said Anton that" the issuance of large denominations will reduce trading in foreign currency and facilitate the transfer of large sums of money from one place to another process.

"He explained that" the current currency consumed much of it because of dealing directly without relying Visa card, as in most countries and that a large currency will facilitate banks and companies work and reduces the number of Trustees of the Fund in.

"He called Antoine" the central bank to explain the cause of the issuance of the large cash currency through educational seminars to prevent cases of concern in the Iraqi market and the fear of issuance Because of the weakness of the culture of this topic ", stressing that" the currency and medium of exchange nor a target and weaknesses and strength are linked to the country's economy.

"said the governor of the bank on the Keywords in the (3 March 2015) that the project to delete the zeros existing project has been put into practice and that gave light Green to start with, "he said." The project needs a period of time may extend to two years or more. "

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"buffalo" Iraqi currency





Text Jordan

11/21/2015


Alaa Hassan

With the Central Bank of Iraq to issue banknote of fifty-class thousand dinars, expressed specialists design graphic objected to the form of naive (as they called them), there are many historical symbols of Iraqi extend to the ages Sumerian, Babylonian able to express the marshes and monuments other instead of buffalo and Sreefa papyrus.

It seems that the central bank was in no hurry currency issued a form Interestingly objections and sometimes ridicule for the purpose of achieving the economic goals perhaps contribute to the mitigation of the financial crisis as a result of the drop in oil prices in world markets.

the cost of printing per sheet of new cash category amounted to six cents printed in Germany and contained 13 feature to prevent forgery, according to the decision of the Finance Committee in Parliament MP Ahmed Haji Rashid, in a press statement in which he said that the bank planned to issue another paper category 100 000 dinars, it is not unlikely that contain other symbols reflect the Iraqi monuments.

currencies of foreign countries contained images of their chairmen and kings as well as literary and scientific figures, currencies Arab countries borrowed, is the other, this approach to be Majesties, Excellencies and Highnesses in the people pockets, reminding them of rulers and leaders even during sleep, especially the Arab, and the interests of the remnants of his monthly salary from loss, accustomed to the securities put cash under the pillow, when he wakes up in the morning to the sound of his children or his hand extends under the pillow and let loose a daily expense expenses, starts his morning new mandatory glance towards the owner of the image. By the Republican regime in Iraq was the paper currency contains images of kings, in the mid-eighties of the last century has returned an image of President occupies all categories by decision of the wise leadership, with the issuance of the new currency disappeared that image, what one remembers returned, especially it back to the minds of the Iraqi currency devaluation local to foreign in the years of economic sanctions imposed after the invasion of Kuwait.

Central Bank of Iraq compared to his counterparts in the Arab region issued paper currency free of personal images, because the democratic system in Iraq supports the principle of peaceful transfer of power through the ballot box as provided for in the Constitution, apart from Disadvantages of the democratic experiment and the many Mtabatha, the bank decided to issue a new currency, to cut Triviamam tempted to himself in the fight adventure put his own image on the banknote than fifty thousand dinars category.

Iraqi officials, current and former, perhaps Raodthm idea of containment of currency paper Photos political leaders and heads of blocs Parliamentary heroic supervisor for their role in the country's leadership, and some of them called for Astnsakhm to offer their services to mankind, the Central Bank (Allah bless him and hit his footsteps) aborted attempts preferred to think of this step on the buffalo for officials and politicians to assert its independence.

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Parliamentary Economy: delete the zeros need a safe environment and next year will see the issuance of a class of 100 thousand dinars



11/22/15

BAGHDAD / Ali Al-Shammari

A commission parliamentary economy, on Saturday, for the issuance of class 100 000 dinars cash currency early next year in order to market need to handle them, pointing out that legal action properly and in conformity with the laws of the central bank, while stressing specialists in economic affairs that the issuance of the big currencies, whether of class 50 100 000 dinars, or is part of a large project to restructure the Iraqi currency.
Said committee member economy parliamentary Najiba Najib said in an interview to the "long" that there is a tendency to issue small groups also categories of 50 and 100 dinars.
And for the project to delete the zeros confirmed Najib said "the Iraqi Central Bank completed the previously all preparations for the project, indicating that it" has been postponed because of the situation security is stable "in what it said that" the application of the project to delete the zeros needs to assign by the government and parliament to make it a success after the stabilization of the situation in the country because the ground current is suitable for the implementation of such a project.
"said Najib that" the subject of deletion of zeros is linked to the security situation closely because it will include all operating in the country banks to receive the old currency and replaced by the new and the old collection and destruction of pointing out the difficulty of the success of that process in the provinces experiencing control Daash parts of them.
"The central bank announced in the (November 11, 2015) for issuing new cash paper category 50 thousand dinars, attributing this to the completion of the Iraqi Securities monetary structure and the development of high-class value in circulation.
For his part, counting the economic expert on behalf of Anton in an interview with the "long" that the decision to delete the zeros of the Iraqi currency requires a political and security are conditions stable, stressing that "the change the Central Bank of Iraq administration caused the postponement of this project, "said Anton that" the issuance of large denominations will reduce trading in foreign currency and facilitate the transfer of large sums of money from one place to another process.
"He explained that" the current currency consumed much of it because of dealing directly without relying Visa card, as in most countries and that a large currency will facilitate banks and companies work and reduces the number of Trustees of the Fund in.
"He called Antoine" the central bank to explain the cause of the issuance of the large cash currency through educational seminars to prevent cases of concern in the Iraqi market and the fear of issuance Because of the weakness of the culture of this topic ", stressing that" the currency and medium of exchange nor a target and weaknesses and strength are linked to the country's economy.
"said the governor of the bank on the Keywords in the (3 March 2015) that the project to delete the zeros existing project has been put into practice and that gave light Green to start with, "he said." The project needs a period of time may extend to two years or more. "

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Central bank: an existing project to delete the zeros and the issuance of 50 thousand came to structuring currency


11/21/15

Baghdad and babysit - Central bank: an existing project to delete the zeros and the issuance of 50 thousand came to s


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Central Bank: the issuance of 50 thousand came to structuring currency



11/22/15

Central bank: an existing project to delete the zeros and the issuance of 50 thousand came to structuring currency

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CBI: an existing project to delete the zeros and the issuance of 50 thousand came to structuring currency



November 22, 2015 0


The governor of the Iraqi Central Bank on the Keywords, on Sunday, that the project to delete the zeros of the existing currency, pointing out that the issuance of 50 thousand dinars category came to structuring currency and do not affect inflation and rising prices.

Keywords and said in an interview with a number of media, including the agency, "our economy" news that "the project to delete the zeros of the currency is still there, but administrative conditions are not favorable for its implementation so far."

He added that "the issuance of 50 thousand dinars came to structuring currency, the fact that the 25 A category is no longer suitable for trading bloc compared with cash in circulation," explaining that "the new category Stsuhal process and the conversion by the banks and the transfer of citizens."

The Governor of the Bank, that "50 thousand dinars class does not affect the inflation and rising prices, because the released are damaged versus currencies".

The Central Bank of Iraq announced on Sunday (November 15, 2015), that the issuance of 50 thousand dinars category paves the way for the deletion of zeros from the currency, and among it will reduce the demand for the dollar, he noted that the new currency not related to the financial crisis.

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Keywords: That's why we issued a class of 50 000 dinars




22-11-2015



The governor of the Iraqi Central Bank on the Keywords on Sunday that the project to delete the zeros of the existing currency and the relationships that the 'project to delete the zeros of the currency is still there, but administrative conditions are not favorable for its implementation so far. "Keywords and added that' the issuance of 50 thousand dinars came to structuring currency universe 25 A class is no longer suitable for trading compared to the monetary mass in circulation 'adding that' the new category Stsuhal process and conversion by banks and citizens 'transfer'. Keywords confirmed that 'the 50 thousand dinars class does not affect the inflation and rising prices, because the released are compared to the damaged currency'.

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