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The future of the Iraqi currency
Zia Rahim Mohsen
Civilized dialogue-number: 4158-13/7/19-20: 54
Topic: business and Economics
The money, the source document and the State emblem and reflects its political and religious philosophy. Compared with the writing of history, the authentication across currencies cannot be questioned or challenged by being real and tangible document to a certain era, and has benefited greatly in human history civilizations through their study and mskokatha
Compare discover to discover the currency printing, being facilitated exchanges between people and traders alike, is the currency of a major market, without which there can be no sale and purchase
Prior to the British occupation forces in October 1914 was the currency in circulation among people is the Ottoman lira, after British occupation authorities introduced the Indian rupee as currency, the first Council was established after the independence of the Iraqi currency issued in 1931, have been linked to the Iraqi dinar to British pound, after the revolution of July 14, 1958 in dinars has been delinking and linking it to pound US dollar
The Central Bank of Iraq to issue new currency notes and coins, bearing the emblem of the new Republic. The new versions of the paper currency in 1971 and 1973 and 1978. The Iraqi dinar has suffered from the continued deterioration of its value after the Iran-Iraq war began, the price dropped from $ 3.3 in 1980 to about 4 dinars to the dollar in 1988.
As a result of the invasion of Kuwait and the decisions of the Security Council to impose sanctions, and the deterioration of the value of the Iraqi dinar, Iraqi Central Bank was forced to issue coins not in circulation, issued banknotes of 50 and 100 dinars, followed in 1995, issued a paper of 250 dinars, and in 2000 issued banknotes carry a class 10,000 dinars, and all those carrying on her image of former President Saddam Hussein. Was carrying huge bundles of simple needs, buys you only eating and drinking
After the fall of the former regime, with the competence to consider how to bring the spirit of the Iraqi dinar, and remove the heavy legacy of shouldering the Iraqi economy, fabdao with the idea of removing three zeros from the current currency
Know the deletion of zeros (of zero) as a process whereby the nominal value of the currency because of the high inflation and devaluation, from countries where such a process is Brazil and Argentina (South America), Yugoslavia and Poland (countries were moving in the orbit of the Soviet Union) Germany and Ireland (due to join the European Monetary Union) and is different from the process of devaluation (Devaluation)
But you could actually implement such a procedure? What are the advantages and disadvantages on the economic movement in Iraq? And you could actually help in reducing inflation rates? Finally, what is the proper timing for him?
This process remains controversial in government cash, businessmen and professionals, some see that such a process will prompt further corruption and tampering with public money, because what happens in the process of changing the currency, it would create chaos and confusion in the compacts, internally and externally, so that it would not change anything of the reality, the quantity of exported documents will remain the same
While the team is optimistic that the process will lead to the restoration of the prestige of the Iraqi dinar, if connected with improvement of the dinar exchange rate, and the accounts in various areas will be less complex and are simply
We do not deny that the deletion of zeros is a necessary step and an important part of the country's administrative reform process to reduce transaction costs and cash transactions in the economic process, and reduce the size of the money supply in the country and help facilitate calculations and reduce the inflated numbers, if applied correctly and in a timely manner. But must be introductions to that process, including the selection of appropriate timing when the Iraqi economy in a State of stability, the economic environment then thoughtfully apply deletion, this needs to actions and decisions taken by financial and banking financial authority in the country.
That the replacement "was" it would cost the State budget $ 172 billion dinars (150 million dollars), a significant amount, if maadavna his effort by Bank staff and the time that would be lost as a result of the switch, and can't forget trying to visually souls who will try to profit from that process by various means and methods!
It is true that this process will not have an impact on purchasing power, the fact that you will get is Exchange one currency for another currency, a kind of shock may occur in the market as a result of the switchover, but temporary shock. No harm in many tests on its currency, such as Turkey, which replaced the currency changeover has for four years, the Turkish currency trading remained the old with the new currency that was withdrawn from the market without market entangleth himself
The main drawbacks that will accompany the process of deleting zeros is illusion, as three zeros from the currency, deletion of the Iraqi citizen will be signed under the illusion, which is the main drawbacks that can infect the Iraqi citizen be delete three zeros from the current currency and the impact of ICH, it all would be as a result of colliding with the new currency after deletion, leading him to believe that the value of its assets fell by divided on three zeros.
The Iraqi citizens would like to see a strong currency, thus raising the zeros will raise the value of the currency and reduce the demand on foreign currency with force, would restore balance between local and foreign currency and will give market power at home and abroad, which could lead to Iraqi currency appreciation against the dollar, for example, the employee who receives 1.2 million dinars when Exchange rate 1200 be purchasing dollar $ 1000 if the strengthening of the dinar is equivalent to For example 500 dinars to the dollar will be purchasing $ 2,400 instead of $ 1000
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Zia Rahim Mohsen
Civilized dialogue-number: 4158-13/7/19-20: 54
Topic: business and Economics
The money, the source document and the State emblem and reflects its political and religious philosophy. Compared with the writing of history, the authentication across currencies cannot be questioned or challenged by being real and tangible document to a certain era, and has benefited greatly in human history civilizations through their study and mskokatha
Compare discover to discover the currency printing, being facilitated exchanges between people and traders alike, is the currency of a major market, without which there can be no sale and purchase
Prior to the British occupation forces in October 1914 was the currency in circulation among people is the Ottoman lira, after British occupation authorities introduced the Indian rupee as currency, the first Council was established after the independence of the Iraqi currency issued in 1931, have been linked to the Iraqi dinar to British pound, after the revolution of July 14, 1958 in dinars has been delinking and linking it to pound US dollar
The Central Bank of Iraq to issue new currency notes and coins, bearing the emblem of the new Republic. The new versions of the paper currency in 1971 and 1973 and 1978. The Iraqi dinar has suffered from the continued deterioration of its value after the Iran-Iraq war began, the price dropped from $ 3.3 in 1980 to about 4 dinars to the dollar in 1988.
As a result of the invasion of Kuwait and the decisions of the Security Council to impose sanctions, and the deterioration of the value of the Iraqi dinar, Iraqi Central Bank was forced to issue coins not in circulation, issued banknotes of 50 and 100 dinars, followed in 1995, issued a paper of 250 dinars, and in 2000 issued banknotes carry a class 10,000 dinars, and all those carrying on her image of former President Saddam Hussein. Was carrying huge bundles of simple needs, buys you only eating and drinking
After the fall of the former regime, with the competence to consider how to bring the spirit of the Iraqi dinar, and remove the heavy legacy of shouldering the Iraqi economy, fabdao with the idea of removing three zeros from the current currency
Know the deletion of zeros (of zero) as a process whereby the nominal value of the currency because of the high inflation and devaluation, from countries where such a process is Brazil and Argentina (South America), Yugoslavia and Poland (countries were moving in the orbit of the Soviet Union) Germany and Ireland (due to join the European Monetary Union) and is different from the process of devaluation (Devaluation)
But you could actually implement such a procedure? What are the advantages and disadvantages on the economic movement in Iraq? And you could actually help in reducing inflation rates? Finally, what is the proper timing for him?
This process remains controversial in government cash, businessmen and professionals, some see that such a process will prompt further corruption and tampering with public money, because what happens in the process of changing the currency, it would create chaos and confusion in the compacts, internally and externally, so that it would not change anything of the reality, the quantity of exported documents will remain the same
While the team is optimistic that the process will lead to the restoration of the prestige of the Iraqi dinar, if connected with improvement of the dinar exchange rate, and the accounts in various areas will be less complex and are simply
We do not deny that the deletion of zeros is a necessary step and an important part of the country's administrative reform process to reduce transaction costs and cash transactions in the economic process, and reduce the size of the money supply in the country and help facilitate calculations and reduce the inflated numbers, if applied correctly and in a timely manner. But must be introductions to that process, including the selection of appropriate timing when the Iraqi economy in a State of stability, the economic environment then thoughtfully apply deletion, this needs to actions and decisions taken by financial and banking financial authority in the country.
That the replacement "was" it would cost the State budget $ 172 billion dinars (150 million dollars), a significant amount, if maadavna his effort by Bank staff and the time that would be lost as a result of the switch, and can't forget trying to visually souls who will try to profit from that process by various means and methods!
It is true that this process will not have an impact on purchasing power, the fact that you will get is Exchange one currency for another currency, a kind of shock may occur in the market as a result of the switchover, but temporary shock. No harm in many tests on its currency, such as Turkey, which replaced the currency changeover has for four years, the Turkish currency trading remained the old with the new currency that was withdrawn from the market without market entangleth himself
The main drawbacks that will accompany the process of deleting zeros is illusion, as three zeros from the currency, deletion of the Iraqi citizen will be signed under the illusion, which is the main drawbacks that can infect the Iraqi citizen be delete three zeros from the current currency and the impact of ICH, it all would be as a result of colliding with the new currency after deletion, leading him to believe that the value of its assets fell by divided on three zeros.
The Iraqi citizens would like to see a strong currency, thus raising the zeros will raise the value of the currency and reduce the demand on foreign currency with force, would restore balance between local and foreign currency and will give market power at home and abroad, which could lead to Iraqi currency appreciation against the dollar, for example, the employee who receives 1.2 million dinars when Exchange rate 1200 be purchasing dollar $ 1000 if the strengthening of the dinar is equivalent to For example 500 dinars to the dollar will be purchasing $ 2,400 instead of $ 1000
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