Kap chat Wed eve 8/10/11

campdav · 1 Kap chat Wed eve 8/10/11 Fri Aug 12, 2011 1:27 am

campdav

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Posts : 97
Join date : 2011-05-08

[kaperoni] Central Bank of Iraq is preparing to replace the currency after the cancellation of three zeros from
[kaperoni] i like this quote

[kaperoni] "Our problem lies in the current issue of the timing of replacement of the currency, they must choose a date suitable to implement the project without hindrance".

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Last edited by campdav on Fri Aug 12, 2011 1:30 am; edited 1 time in total (Reason for editing : Needed Link)

WEDREAM

WEDREAM

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Join date : 2011-06-12

Central Bank of Iraq is preparing to replace the currency after the cancellation of three zeros from

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Palm - The Central Bank of Iraq completing the preparation of a plan to
replace the current banknotes after the cancellation of three zeros,
and include 30 trillion dinars (26 billion dollars), is the value of
expected cash bloc, stressing that the timing will be determined by the
government and parliament, Iraqi.

The expert said the first in the Central Bank of Iraq the appearance of
Mohammed Saleh, during a media statement: Our problem lies in the
current issue of the timing of replacement of the currency, they must
choose a date suitable to implement the project without hindrance.

Before, and the Central Bank announced its intention to raise three
zeroes from the Iraqi dinar, after suffering from inflation and the
decline during the nineties the past by economic sanctions, its value
has tumbled to become the world today, about 1120 dinars per dollar.

The central bank adopted after 2003 a new mechanism to maintain the
exchange rate of the dinar, is to create an auction foreign exchange to
sell quantities of the dollar, resulting from the sale of oil in world
markets, and transferred to the Development Fund for Iraq, which
transforms in turn to the bank to sell in local currency, which helped
to raise value of the dinar over the past years more than 2000 points.

And as for the size of the money supply or the size of cash flow by
more than 30 trillion Iraqi dinars, equivalent to $ 26 billion, noting
that the system of cash transactions in Iraq, after 2003, it became
Mdolra, any market deal dinar and the dollar both, and this means a mass
of cash circulating in the market but in foreign currency.

He continued favor and put in numbered accounts that the Iraqi currency
or monetary bloc total traded home and that would be replaced after the
cancellation of zeros will be in the range of 30 trillion dinars, but
its value against foreign currencies would remain fixed .. This means that the Iraqi dinar exchange rate now would be equivalent to 1200 dinar per one dollar.

In regard to the most important variables that will come after the
lifting of zeros, between the appearance of the central bank solid plan
to rearrange the currency to reduce the number of banknotes in
circulation, and this is positive and the payments system here would be
Iraqi easier.

Economists warned that the process of replacing the Iraqi currency
after the lifting of zeros Schoppea operations by a major corruption due
to structural inaccuracies of Iraqi banks.

They emphasized that the processes of replacement of currency formerly
accompanied the operations a major corruption cost the Iraqi economy a
lot, but look for answers by saying that the process of replacing the
currency in 2004, took place in exceptional circumstances, and the
country under occupation and is administered by the Governor of an
American civilian, and with this process was successful.

And sells the central bank through its daily auction, between 150
million and $ 190 million per day to clients of private banks and
financial companies, a large proportion of them go Khawwalat external
payment transactions of foreign trade.

And confirms the expert's central bank that the application of the new
project to raise three zeroes from the Iraqi dinar and the currency
exchange, will be according to mechanisms scalable in the form of do not
feel the citizens, are put quantities in the market and the withdrawal
of which is maintained by the government banks of the block and replace
it, and it remains only in the possession of the citizens of the trading
day, and can make any transactions in both currencies for existing and
new, what's goods on the current price of 1000 dinars for example, a
customer can give the seller the present paper the category of 1,000
dinars, as well as currency can give him a new category of one dinar. [You must be registered and logged in to see this link.]

parothead · 3 Re: Kap chat Wed eve 8/10/11 Fri Aug 12, 2011 9:11 am

parothead

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Posts : 2036
Join date : 2011-05-23

Very good stuff...thanks for the post !

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Kap chat Wed eve 8/10/11

1 Kap chat Wed eve 8/10/11 Fri Aug 12, 2011 1:27 am

campdav

2 Central Bank of Iraq is preparing to replace the currency after the cancellation of three zeros from Fri Aug 12, 2011 1:40 am

WEDREAM

3 Re: Kap chat Wed eve 8/10/11 Fri Aug 12, 2011 9:11 am

parothead

4 Re: Kap chat Wed eve 8/10/11

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