PMAC » November 15th, 2016
This is turning into a "which article is a flashpoint??" problem... cause their all EN FUEGO!!! Especially (Frosty's KABOOM of WS Article earlier)
Abadi coming to the inauguration?? How's that hot girl over in the corner doing? She sure is looking pretty good... and she's coming with US(A) to the dance right??
DELTA » November 15th, 2016
Blinkster » November 15th, 2016
Walkingstick » November 15th, 2016
Zora / Laith Jawad:
Prime Minister for Financial Affairs Advisor to detect the appearance of Mohammed Saleh , the central bank 's determination to reduce the dollar exchange rate against the dinar by eliminating the monopoly of the dollar operations by some speculators, as explained that inflation in Iraq , not to exceed the 2 percent, the least since 50 years in the history of Iraq, stressed the economic expert Majid picture directed the bank to take new measures to rein in prices of speculative operations.
Saleh said in an interview for «Zora»: The Bank operates in two directions, the first reduction of the dollar against the Iraqi dinar, the second direction to stabilize the exchange rate in the country, noting that the rise in the dollar exchange rate caused by speculation by the traders if the exchange rate difference between The bank market of 10 points.
Saleh added: that the bank was able to eliminate the monopoly power in those Alasouk or has been able to penetrate through to meet the market needs of hard currency, stressing that the central bank sales and large meet the market 's needs.
Saleh pointed out that the Iraqi market is dependent on the dollar zones and of East Asian countries that suffer from depression and low prices, explaining that the amount of inflation in Iraq is at least 50 years ago , if a 2% which is very low compared with the countries of the world.
Meanwhile , a economist Majid picture in an interview with «Zora»: The general orientation of the central bank is working to restore the Iraqi dinar exchange rate against the dollar to its former glory in collaboration with government banks, indicating that the bank seeks to make way for government banks to carry out sale the dollar put pressure on speculators in the markets.
He explained the picture: that the dollar price depends on demand and supply process, which is always exploited by speculators to achieve personal benefits, noting that the bank start new measures to reduce the price of the dollar against the dinar, but this process may take time to reach the desired end.
Image stressed that the success of this approach needs to be concerted all government institutions, particularly the border crossing points and in the efforts of all kinds throughout the country and carry out its required role and limit the operations of corruption in addition to the tax.
He said economic experts, yesterday, the low price of the dollar against the Iraqi dinar after the central bank to take several measures in collaboration with some private banks, indicating that the decline occurred in the US dollar exchange rate against the Iraqi dinar by almost eight points.
He explained: that this decline comes after the Central Bank of Iraq has taken several measures in collaboration with some private Iraqi banks Almltzmh.ahar to the US dollar in the Iraqi market is equal to 1290 Iraqi dinars.
DELTA » November 15th, 2016
Marineret22 » November 15th, 2016
Doodlebug » November 15th, 2016
Stranger » November 15th, 2016
The second type #2) is to remove the currency on the street from the hands of the general populace. People bring in a 25,000 note in Iraq and get a 25 currency note and so on with the 10,000, 5,000, etc.. The Iraqi people's notes will have less zeros on the currency but a 25 note will have more purchasing power than a previous 25,000 note with the value being lifted and leads to less confusion. More zero's = more confusion = more mistakes = more corruption.
Out of country, USA for example, unless something happened like in the article above that DD posted about India......your (if you had one) 25,000 note would = 25,000 x .86 (zero's removed) = $21,500. Of course nobody knows except the elite what they will change it to value wise.
The idea is .... it is too expensive to bring out fils, coins and lower denominations at the present rate since it takes 1166 dinars to equal $1 at this time. A one dinar note at the the 1166 rate would = .00086 cents which undoubtedly costs much more to print let alone a coin. A fil....say 1/20th of a 1 dinar note (similar to a USA quarter) would equal .000043 cents. Can't buy anything I know of for that ...so why carry them around. Getting rid of the zero's makes it practical to carry, to account for and brings Iraq a sense of pride and brings them into the modern world.
Maybe I didn't even answer the question....but that is the way I see it imo as being Dinar 101.