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1-800#'s and Instructions for Currency Redemption/Exchange

This is where the 800 numbers and instructions for currency redemption (US) and currency exchange (international) will be posted. This part of the page will remain until the "TETELESTAI" email has been distributed to us. Thank you.

Guest Posting Now Available

Dinar Chronicles is now allowing viewers to guest post. If you wish to speak your mind and write a post/article about the current situation relating to Iraq, the RV, the GCR and so on. You may now send in an entry.

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Restored Republic via a GCR: Update as of December 3, 2016

Restored Republic via a Global Currency Reset Update as of Dec. 3 2016 Compiled in the early morning hours (EST) of 3 Dec. 2016 by Judy Byin...

Tuesday, October 11, 2016

"In Country Rate" - Tues. PM KTFA Thoughts/News

KTFA

SlappySquirrel
 » October 11th, 2016


How long could they get away with an in-country new rate, before they reveal it to the world? I've heard varying opinions on this, so not sure how long it is. Also they've applied T & T's (Tax’s and Tariff’s) on the borders if I remember correctly from the replay last night. If that's the case, is it possible the Citizens have the new rate in-country right now?

AlraGrossman
 » October 11th, 2016

Correct me if I'm wrong but I don't think there is the possibility of "in country rate". If you have dinars and the rate goes up compared to some other currency, how would that benefit you unless you go to the other country to purchase something?

Now the purchasing power can change if that's what folks are talking about but 1 dinar is still worth 1 dinar "in country" and it always will from my understanding

The question I have is this: Is it possible for a country to do transactions, make purchases, or pay off debts based on a completely different rate knowing that the change is imminent?

FrostyTheSnowman
 » October 11th, 2016

7 months ago the AMERICAN UNIVERSITY in KURDISTAN was inaugurated.

The university has five departments consisting of Design, Media Studies, Computer Science, Management and Finance, and Politics and Public Policy.

Barzani proclaimed ... "This is a message declaring that Kurds are alive and strong in the face of enemies as they are setting up such educational facilities while the Islamic State (IS) is threatening the region."

The lava flow ... is looking good!

https://youtu.be/Qn4ESV_QS6w

http://www.basnews.com/index.php/en/news/kurdistan/264425

FrostyTheSnowman » October 11th, 2016

FEBRUARY 6, 2010 (old article, yet very revealing)



BAGHDAD -- The Iraqi Central Bank is planning to redenominate the national currency in an effort to ease transactions and allow people to carry less paper money, RFE/RL's Radio Free Iraq (RFI) reports.

Mudhhir Muhammad Salih, a member of a Central Bank advisory panel, told RFI that a plan has been made to remove three zeros from the currency and phase out the current banknotes late this year.

Salih said by the end of 2010 the new banknotes will be fully introduced while the old banknotes will be gradually removed from circulation. He did not specify when the new notes would be issued.

Both will be legal tender in Iraq until the old notes are completely withdrawn.

Iraqi officials have had a long-running plan to redenominate the Iraqi dinar. In 2006, the Finance Ministry recommended to the Central Bank that it carry out such a plan.

Salih pointed out that banks are having a hard time accepting cash savings and deposits, but by dropping the zeros it will make it easier for both the banks to deal with their customers and for the general public to carry money. He said some 80 percent of Iraq's money supply is cash in circulation.

Salih added that in 1990 the value of banknotes in circulation was about 25 billion Iraqi dinars but is currently some 25 trillion dinars.

Economic analyst Hilal al-Tahhan told RFI that the bank's move is overdue. He said heexpects the currency change to go smoothly because of the decision to allow both the old and new banknotes to coexist, leading to less turbulence in the economy.

The current exchange rate is 1,167 Iraqi dinars to the U.S. dollar.

http://www.rferl.org/a/Iraq_Planning_Currency_Redenomination/1950504.html

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