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The central bank reveals the cost of printing the Iraqi currency

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tlm724
IITB
Rocky
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2The central bank reveals the cost of printing the Iraqi currency Empty Misprint ? Sun May 17, 2015 9:07 am

IITB


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Good find Rocky, thank you as always.
I have read both articles pertaining to this subject.
Both contained this quote " the biggest coin is 25 dinars category equivalent to $ 22."
According to my math that would be $.88 USD = 1 IQD.
I have been in this investment for over a decade and it has been theorized and argued that the zeros that were to be dropped would be from the exchange rate itself. ( I.E.  $.00086 less the zeros  = $.86 USD )
Which would be on par with what was submitted in the articles .
Or then again it could have been a typo
scratch

Thoughts anyone ?


CHEERS,
IITB

tlm724

tlm724
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[tlm724] thank you Rocky for posting this !

[tlm724] "The central bank is serious about printing new cash categories that will be one of the two categories of 50 and 100 000 dinars, which is in the process of selecting designs and corporate printer.

[tlm724] that "printed currency project is necessary to modify the Iraqi banknotes structure in preparation for the implementation of the project to delete the zeros."

[tlm724] *wolfwhistle*
 
[tlm724] hey you all remember that over the years I have always said to pay attention to whatever Yasiri says ?

[tlm724] let me show you why

[You must be registered and logged in to see this image.]

[tlm724] look under Deputy Governors and Members of the Board, there he is !

[tlm724] and who is speaking in this article ? Manager version in the Central Bank Ihsan al-Yasiri

[tlm724] "the Iraqi dinar is very strong currency but restructuring banknote weak because the biggest coin is 25 dinars category equivalent to $ 22, and this weak structure makes citizens prefer to deal instead of the dinar to the dollar.

[tlm724] so this will lead to the deletion of the zero's and before that can be done they MUST add value to the dinar imo we are so close , just hang on  Wink


[RCS1947] thank you Timmie !

[tlm724] your quite welcome, it's coming !



_________________
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KDuesing


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I think we are a little off on what he was trying to say in this sentence.

"the Iraqi dinar is very strong currency but restructuring banknote weak because the biggest coin is 25 dinars category equivalent to $ 22, and this weak structure makes citizens prefer to deal instead of the dinar to the dollar.

He was only referring to how there currency is now and has been, nothing new here and he def was not trying to show a .86 rate with that sentence, weve known for a long time a 25k dinar note is only worth 22.00 USD and that they like useing the USD instead of the dinar because of it.

Also they call all there currency coin, they dont literally mean a metal coin like we would think.

candidinar


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tlm724 wrote:[tlm724] thank you Rocky for posting this !

[tlm724] "The central bank is serious about printing new cash categories that will be one of the two categories of 50 and 100 000 dinars, which is in the process of selecting designs and corporate printer.

[tlm724] that "printed currency project is necessary to modify the Iraqi banknotes structure in preparation for the implementation of the project to delete the zeros."

[tlm724] *wolfwhistle*
 
[tlm724] hey you all remember that over the years I have always said to pay attention to whatever Yasiri says ?

[tlm724] let me show you why

[You must be registered and logged in to see this image.]

[tlm724] look under Deputy Governors and Members of the Board, there he is !

[tlm724] and who is speaking in this article ? Manager version in the Central Bank Ihsan al-Yasiri

[tlm724] "the Iraqi dinar is very strong currency but restructuring banknote weak because the biggest coin is 25 dinars category equivalent to $ 22, and this weak structure makes citizens prefer to deal instead of the dinar to the dollar.

[tlm724] so this will lead to the deletion of the zero's and before that can be done they MUST add value to the dinar imo we are so close , just hang on  Wink


[RCS1947] thank you Timmie !

[tlm724] your quite welcome, it's coming !



Thanks MUCH tim!!

Very Happy Very Happy

brown sugar


MEMBER
MEMBER

KDuesing wrote:I think we are a little off on what he was trying to say in this sentence.

"the Iraqi dinar is very strong currency but restructuring banknote weak because the biggest coin is 25 dinars category equivalent to $ 22, and this weak structure makes citizens prefer to deal instead of the dinar to the dollar.

He was only referring to how there currency is now and has been, nothing new here and he def was not trying to show a .86 rate with that sentence, weve known for a long time a 25k dinar note is only worth 22.00 USD and that they like useing the USD instead of the dinar because of it.

Also they call all there currency coin, they dont literally mean a metal coin like we would think.
But he said a $25 dinar coin equal $22, Do not sound the same.

KDuesing


MEMBER
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Well Suger lets break it down then because he definitely said
biggest coin is 25 dinars category
,so if I look up Dinar currency there was 2 metal coins made in the past not in circulation a 25 and a 100 so he couldn't be referring to those because the 25 is def. not the biggest of the two and they are not in circulation.

Another option is after the deletion of the zero's is there any mention of a 25 dinar coin or note, well here is a link to the only article ever put out with full details of what the Dinar will become, minus any mention of a 50k and 100k note.
Parameters of the new Iraqi dinar after deletion of zeros Central bank decided to adopt some of the features and pictures to be developed on the new Iraqi dinar after deletion of zeros ..  And obtained by / JD / a copy of the book’s central bank, which included the historical and cultural landmarks and images to be placed on the implications of the Iraqi dinar close to the mentality of the Iraqi public and culture ..  According to the authors included a paper currency a number of monuments and pictures the most important, put a picture to bridge the imams and the magnitude of the significance of high-value if it reaches the bridge between both sides of the River Tigris and the terminal Mrakadi Imams Musa al-Kazim (AS) and Abu Hanifa (ra) ..  He said a book entitled the bank to the Directorate General for the issuance and cabinets: This is dedicated to the highest class of the new currency a category (200) two hundred dinars and the dinars on the back of this paper and put a picture of the Baghdad school .. He said the central bank: put on the face of the category (100) dinars, hundred dinars, pictures of Azwaip area in Baghdad, one of the areas which was set up by the ancient suspension bridge, one of the achievements of the Iraqi state ..  Iraq is one of the leading countries in the establishment of this type of bridges, shown in the image building of the Iraqi Central Bank, in addition to the building of the University of Baghdad, is the oldest scientific institution in Iraq in the second half of the twentieth century, while placed on the back of the paper image (ziggurat), one of the features of construction Iraq at the dawn of history .. According to the book’s central bank: put on the face of the paper of class (50) JD (fifty dinars) image of the King Codaa one of the most kings of the dynasty of Lagash II (King XII), a God of growth and fertility, while the back of the paper have included a picture of Fort Ukhaydir a Fort archaeological its construction dates back to the Abbasid era forts and defensive unique in a deserted area, such as those constructed in which this fort is located to the south-west of the city of Karbala ..  The central bank said: that in the face of the banknote (25) dinars (twenty five dinars) was developed, the image of King Hammurabi receiving the law .. This is the spiritual father of the King humanitarian legislation, as written in the custody of the rules governing the life and transactions in the famous Mselth either the back of the paper have included a picture of a peasant of Iraqi Kurdistan with the help of men in the preparation of the field of agriculture ..  He said the central bank: put on the face of the banknote (10) dinars (ten dinars), a dinar, the Arab-Muslim This is a dinar, which was minted in the reign of the Umayyad dynasty beginning of the circulation of money in the Islamic state, which hit the inside and one features of the state and its sovereignty and economic independence, The back of the paper has developed a picture of the lighthouse Hadba in Mosul, one of the landmark development of excellence in our beloved Iraq ..  Either category (5) dinars (five dinars) was placed on the face of her paper image of a waterfall entirely on Beck in Kurdistan Iraq, a reference to the state’s interest in water and its sources in addition to the interest in tourism and the environment either the back of the paper has developed a picture of a palm Iraq, a sign of a property for each land black from southern Iraq to the north and to honor the (aunt Palm), said Mustafa (peace be upon him) and the central bank said in writing: in line with the best applications and international experiences, he decided to stop the basic parameters of the currency notes of the categories (25000,10000,5000) JD Traded to the road as it is in the new series (25,10,5) dinars to enable the audience with her as a thousand imprinted in his memory.  The bank was keen to choose the designs of the coins are the generality and comprehensiveness of significance, and have a positive impact on all the people of Iraq, where he put on the aspects of coins map of Iraq and highlights where the Tigris and the Euphrates, and the center of the map a circular area to install the coin mineral, while the other side of coins have included, first class (2) JD’s image (the Monastery of Saint Matthew), a historical site and my soul is located in the north of Iraq, and taken by the Iraqis of different sects and religions shrine to seek blessings and tourism.  Included in category (1) BD image and reality are inspired from the displacement of Kurds Faili designed and prepared the Ministry of Culture.  Has been developed on the category (500) fils image to fill a modern on the River Euphrates, and was intended to highlight the importance of water and means of storage and organization in Iraq, and on the category (250) fils putting pictures to fill Kut on the Tigris River, for the same purpose, and put on a category (100 fils), a picture of a lion Babylon, symbol of the power and vigor of the nation of Iraq. and put on a class (50) fils a picture of the palm, the symbol of Mesopotamia. and class (25) fils put a picture of the Ishtar Gate in memory of great Iraqis. 19/06/2012

Iraqi Dinar News [You must be registered and logged in to see this link.]

There is a mention of a future 25 Dinar note but even in this article it is not the largest note that will be in circulation.

So after all this I do believe he was talking about a 25000 Dinar note that is in circulation and is there largest note in circulation and worth exactly 22.00 USD.

Shredd

Shredd
CO-ADMINISTRATOR
CO-ADMINISTRATOR

Agreed KD, 25k worth $22 today. Don't try to read anything into that. I bet gurus will also say 50 and 100 000 dinar note means 50 dinar and 100k dinar notes but it's saying 50k and 100k.

This confirms what we've been reading. A 50k and 100k note will come out. We have a wait tho cuz they don't have the design finalized nor do they have the printer acquired.  

We also see confirmation that these notes being released have the sole purpose of bringing in the 3 zero notes. Don't forget this is good news because theses are not going to be simply released into circulation. The same amount of dinar will exist but the existing 3 zero notes will be collected and the 50k and 100k will take their seat regarding value but not into circulation.

Remember, the 1 and 5 dollar bills are used by the people. That won't change but as the dinar gains value, the dinar will start to be used more but only till it gets close to the value of the dollar. That means during this transition, the large dinar notes won't have a valuable purpose regarding circulation. The lower denoms will and thats when Iraq will dedollarize.


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brown sugar


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Thank you ! KDuesing and Shredd

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