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The central bank issued a new coin of category 50 000 Iraqi dinars                                

November 11, 2015 15:56  —  Iraqi Central Bank announced on Wednesday, issuing banknotes category (50) thousand dinars, and as pointed out that the new category is dominated by light brown with included a number of security and technical marks, stressed that the paper included photographs planning to paddle wheel Euphrates and the marshes of Iraq.

The central bank said in a statement that “for the purpose of completing the Iraqi Securities monetary structure and the development of high-class value in trading the Iraqi Central Bank is pleased to announce to the public the Holy issuing banknotes category (50000) dinars (fifty thousand dinars) dimensions of 65 mm width 0.156 mm Length and predominantly light brown except Framework decorations that took bold color, “noting that” banknote was printed using high-quality quality of printing paper with a number of security and artistic marks. ”

He said the central bank in its statement, “The new banknote include dates Hijri and Gregorian, and the signature of Governor of the Central Bank of Iraq Agency (Ali Mohsen Ismail), as well as the serial number of the paper consists of break includes rugs letter Z and primarily sequence edition, in addition to the paper sequence in the fracture and put the decimal number in the right vertically at the bottom of the left side of the paper horizontally. ”

The statement, that “the face of the paper included schematic picture of a paddle wheel Euphrates and palm trees in the middle of the paper and a picture of one of the Kurdistan Falls on the right side of the paper, as well as the presence of a security tag is printed with ink of a magnetic variable color (Spark) in color from blue to change to green when the note is tilted “.

The statement, that “the other side of the paper schematic picture of the Iraqi Marshlands, contains, includes a reed house and a number of fishermen and a group of animals (buffaloes and birds) and images of palm Iraq with Tigris and Euphrates rivers planning within the map of Iraq,” adding that he “has been banknote coating and a protective coating so as to extend the life of the paper and protect it from dirt and dust. ”

http://burathanews.com/news/279647.html

[tlm724] did you all see the CBI says they are issuing a 50,000 note ?

[RCS1947] yep

[tlm724] here is what was on the front page of the CBI in announcements

[tlm724] Statement) for the purpose of completing the Iraqi banknotes structure and the development of high-value category in circulation, the Central Bank of Iraq is pleased to announce to the public the Holy issuing banknotes category (50,000) dinars (fifty thousand dinars) 11.11.2015

http://www.cbi.iq/?pid=Home&lang=ar

[tlm724] for the purpose of completing the Iraqi Securities monetary structure and the development of high-class value in trading the Iraqi Central Bank is pleased to announce to the public the Holy issuing banknotes category (50000) dinars (fifty thousand dinars)

[tlm724] I talked with BondLady this morning and she pointed out some positive things about this issuance, lemme share with you all

[tlm724] 1 .the people will like these 50 k notes because it will be easier for them to carry and use in daily life

[tlm724] 2. These same people will take their smaller valued notes such as 25 k and 10 k etc… to the banks to exchange them for the new 50 k notes thus reducing the overall note count of dinars in the country

[tlm724] 3. the new notes will also help in the plan of reducing inflation

[tlm724] 4. most importantly IMO is that it will reduce the need for the people to use the US dollar

[RCS1947] reduces note count

[tlm724] anything to get them off the dollar is in our favor Wink

[RCS1947] yes

[tlm724] RCS1947 yep # 2.    thats a biggy too

[tlm724] 5. it should also reduce the amount of USD needed for the traders, if less people demand the dollar from them

[tlm724] will probably think of more positives later but you get the idea, this can be a very positive thing if taken in context

[RCS1947] all part of the monetary reform plan

[tlm724] RCS1947 exactly currency reform

Bye the Sea:  This is big. This is really big.  Rocky’s version has the Kurdish language being included on the notes. This is the first time we’ve seen that on a note as far as I can remember.

Obviously the CBI is getting ready for some type of monetary reform, as having been ordered to do so by the IMF. This took a lot of behind the scenes work, especially placating the Kurds. Keywords is actually getting things done.

Now, as for we investors what do this mean? I wish I had a clue, but the timing, exchange rate, Article 8, auctions….to me its all a big puzzle on my coffee table that I can’t begin to solve. All the best, bye the sea

http://www.bondladyscorner.com/t154361-the-central-bank-issued-a-new-coin-of-category-50-000-iraqi-dinars
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Experts called on the government to take the advice of the Federal Reserve and are demanding monitors currency auction

BAGHDAD / Ibrahim Ibrahim

He called on the Iraqi government economists to take the advice of the US Federal Bank to curb the smuggling of currency operations and control the flow of money, demanding to find alternatives to currency auction without affecting the stability of domestic prices to the market.

The economist said Maytham coffee in an interview (range), that “the US Federal Bank’s position on the Central Bank, is the practice of two main functions, the first is the support and assistance and to express an opinion and advice, the second is an observation in terms of financial and drag-and-flow processes to the government, and also control and money coming into Iraq Fund as a result of the sale of oil.

He added that” the Fed is watching the money that could be smuggling operations occur in the Iraqi Central Bank usually offers advice to the Iraqi side the need to address the exchange rate towards liberalization and subjected to the forces of supply and demand than in the keep under the control of the Bank and the currency determined by the auction. ” He said that “at the same time advised to cash in general and economic stability in order to prevent exposure economy big shocks, as advised to maintain foreign reserves and not depleted.”

He continued, “The currency auction and the proposed suspension by the central bank, the bank could provide on the move, what their impact on the breach of economic stability and the fear of rising dollar exchange rate and the decline of the dinar value, especially with the inability of the economy to generate production and its dependence on imports, and the existence of a group traders and dealers would be conducted by speculation that could lead to a sharp rise in the dollar exchange rate.

“He noted that “The central bank looking for alternative solutions to the auction currency, so as to ensure the achievement of the equation is not easy to include the preservation of foreign reserves and prevent drained quickly, with the continuation of the monetary and economic stability, the equation is far from easy, and that with such a situation in which the economy back on Exchange Rate Powered by the bank over the long years.

“Allowal Street Journal revealed that the Federal Central Bank and the US Treasury cut off the flow of American cash to the Iraqi Central Bank account this summer, because of fears of Iranian money in banks or in the hands of Daash. To resume transfers only after the approval of Iraqi officials to impose strict controls on the dollar coin distribution.

For his part, economist Mustafa Mohamed Habib said in an interview (range), “The way the Central Bank’s work in recent years has raised a lot of questions about the amount of money smuggled out of the country by the daily currency auction.”

He added that “the doubts and the information provided to the bank US Fed, led to the direct warnings to the administration to the central bank on the effectiveness of local laws towards big waste of foreign currency.

“He said the beloved” The Iraqi economy is not in isolation from the world economic movement, and there is a global supervisory institutions for the movement of the dollar in different directions can determine the direction of money and methods various washed.

“He said the” work of the US Federal bank regulatory only and has the ability to advise you of some of the international institutions for the development of internal work, including the Central Bank of Iraq.

“He pointed to” the need to take the government’s advice provided and built upon to rid the work of the Bank of the phenomena of rampant financial corruption inside the local market and a private auction sale of foreign currencies, which drives the local market according to data to be mostly different from the laws and regulations currently in.

“The Central Bank of Iraq denied, earlier reports that indicated to stop pumping money to him from his accounts in the US Federal.

The bank said In a statement, the “long” has received a copy of “the news reported by some newspapers and news sites about the stop pumping money to him by his calculations by the US Federal baseless.”

The bank said that “the US Federal continuously conducting all events of accounts being the only party responsible for the it. ” LINK

[tlm724] called on the Iraqi government economists to take the advice of the US Federal Bank to curb the smuggling of currency operations and control the flow of money, demanding to find alternatives to currency auction without affecting the stability of domestic prices to the market

[tlm724] demanding to find alternatives to currency auction !!

[tlm724] “the US Federal Bank’s position on the Central Bank, is the practice of two main functions, the first is the support and assistance and to express an opinion and advice

[tlm724] the second is an observation in terms of financial and drag-and-flow processes to the government, and also control and money coming into Iraq Fund as a result of the sale of oil

[tlm724] drag and flow may mean addressing drags and pulls on liquidity

[tlm724] in other words get a handle on deposits, money coming in and going out I think

[tlm724] the Fed is watching the money that could be smuggling operations occur in the Iraqi Central Bank usually offers advice to the Iraqi side the need to address the exchange rate towards liberalization and subjected to the forces of supply and demand than in the keep under the control of the Bank and the currency determined by the auction.

[tlm724] usually offers advice to the Iraqi side the need to address the exchange rate towards liberalization

[tlm724] liberate that beach !! lol

[tlm724] and subjected to the forces of supply and demand than in the keep under the control of the Bank and the currency determined by the auction

[tlm724] Fed knows Iraq has to stop the auctions and liberalize the exchange rate just like the IMF wants them too

[tlm724] The central bank looking for alternative solutions to the auction currency, so as to ensure the achievement of the equation is not easy to include the preservation of foreign reserves and prevent drained quickly,

[tlm724] with the continuation of the monetary and economic stability, the equation is far from easy, and that with such a situation in which the economy back on Exchange Rate Powered by the bank over the long years

[tlm724] the doubts and the information provided to the bank US Fed, led to the direct warnings to the administration to the central bank on the effectiveness of local laws towards big waste of foreign currency.

[tlm724] yep big *slap* from the Fed

[tlm724] The Iraqi economy is not in isolation from the world economic movement, and there is a global supervisory institutions for the movement of the dollar in different directions can determine the direction of money and methods various washed.

[tlm724] they are watching Iraq’s every move when it comes to the dollar

[tlm724] global supervisory institutions for the movement of the dollar

[tlm724] “He pointed to” the need to take the government’s advice provided and built upon to rid the work of the Bank of the phenomena of rampant financial corruption inside the local market and a private auction sale of foreign currencies

[tlm724] which drives the local market according to data to be mostly different from the laws and regulations currently in.

[tlm724] see the CBI’s plan isn’t working because it’s not supported by laws, the traders know that and take full advantage of it and the CBI has not enforced their power as of yet but they are working on it. Everyone knows this too

[tlm724] again ” demanding to find alternatives to currency auction without affecting the stability of domestic prices to the market” gotta love that !

http://www.bondladyscorner.com/t154360-experts-called-on-the-government-to-take-the-advice-of-the-federal-reserve-and-are-demanding-monitors-currency-auction

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