Tuesday, August 9, 2011

Breitlings Afternoon Report 8/9/2011

Please any Questions: send to breitlingcurrency@gmail.com I will get to your questions as soon as possible by personal e-mail, blog post or audio "If you Knew you could not fail, what would you try today?" Phillippians 4:13
The central bank's plan for reducing its Iraqi dinar
Paper of 25,000 dinars

 Paper of 25,000 dinars
04.08.2011 04.08.2011
 Faris OmarThe oil wealth and progress of the proceeds of abundant, secure the cover of the national currency with the Iraqi dinar has become one of the strongest currencies in the Middle East.
The central bank has the distribution of foreign exchange reserves in a basket of currencies like the dollar and the pound sterling and the Japanese yen as well as its reserve of gold so that the cover of the Iraqi dinar remains strong, regardless of fluctuations in the currency market.
Until the early eighties was the Iraqi dinar equivalent of more than three dollars U.S., but the damage to the Iraqi economy since the invasion of Kuwait at this time 21 years ago and subsequent wars and international sanctions, ensured all firing runaway inflation destroyed the value of the Iraqi dinar so that the price now spent more than a thousand dinars to the dollar. Coupled with the erosion of the value of the currency and banking financial difficulties and administrative and accounting are still different, especially in trade and handle daily cash.
Faced with this situation since the central bank decided early in 2010 a plan to drop three zeros from the Iraqi currency nominal and pave the way for a gradual procedure that preserves the purchasing power and prevent the exposure of the Iraqi market to the economic turmoil hurt consumers.
Radio Free Iraq adviser met with the Central Bank of the appearance of Mohammed Saleh, who reviewed the falling value of the Iraqi dinar, referring to the deletion of zeros is part of a project to reform the management of the national currency.
The Chancellor said Mohammed Saleh, the burden posed by the mass cash payment system, as reflected in the revenue budget figures, for example, trillions. و Mohammed Saleh pointed out that the draft dropping zeros from Iraqi dinar is based on optimistic forecasts the prospects for the development of the Iraqi economy in the coming period.
. He revealed the central bank adviser said the bank plans to return to the coin because of their preferences on paper currency, especially from small groups that are not worth the trouble worth dealing with.. Mohammed Saleh refused to set a date to launch new dinar, saying that the management reform of the national currency a strategic project, but stressed that the central bank will be within a month of the implementation of an integrated plan to the Cabinet the last word in this regard.
Expert in the Ministry of Finance Crescent Miller predicted that the result in the deletion of zeros from lower inflation, noting that countries such as Turkey and Brazil prior to Iraq in this area.
. Miller noted the characteristics of the new currency trading is expected after this procedure, including the adoption of the three languages ​​are Arabic, Kurdish and English, only the symbols of civilization and to prevent the use of pictures of any official.
The expert in the Ministry of Finance on the conviction that the process of replacing the currency will be smooth, especially as the old currency will remain in circulation alongside the new currency of time to allow a gradual withdrawal of steps does not affect the daily exchanges.

Economic analyst, Basil Jamil Antoine ruled economy is affected by changing money, but called for an awareness campaign to prepare public opinion and to the logistical procedures in financial institutions involved. One benefit of the consumer citizen is expected to result directly delete the zeros of the possibility of using vending machines that are still unknown in Iraq because of the technical and practical difficulties in the mobilization of these ATMs in Iraqi dinars now.


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Central Bank begins to re-structuring of the local currency
2011-08-04 09:53:00

Special Baghdad Post

Iraqi Central Bank has decided to begin the process of restructuring and the development of the local currency coins in cooperation with international organizations and economists of the world.

The deputy governor of the Central Bank of the appearance of Mohammed's "Baghdad Post" that "the central bank agreed with the Government to Almaasat financial restructuring of the currency, organization and development of coins."

He added that "the central bank decided to introduce the metal in the next three months, which will be the class of 1000 dinars and 500 dinars."
He noted that "the Central Bank of Iraq conduct extensive contacts to coordinate with international organizations and experts from the world to take this decision his way."

Iraqi Central Bank announced the completion of the preparation of a plan to replace the current banknotes

Central" is preparing to replace the Iraqi currency after the cancellation of three zeros from
Monetary value of the mass of the expected $ 26 billion
Translated by Iraqdirectory.com - [8/3/2011]
Iraqi Central Bank announced the completion of the preparation of a plan to replace the current banknotes after the cancellation of three zeros, and include


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Cancel the zeros dinar step in the right direction

Cancel the zeros dinar step in the right direction
Justice - 07/08/2011 - 18:27

There is no doubt that we are on the verge of cancellation three zeros from Iraqi dinar .. The central bank may be prepared for a gradual withdrawal (27) trillion dinars, ie (4) trillion banknote. To offset the dinar raises skim zeros. ا.. Currency - definition - equivalent commodity .. .. Thus evolved until it reached the icon to the paper Which does not change the value of goods and services,
 It is just a symbol of authority shall determine the monetary value. Vtsahha - up and down - the movement of markets and the intervention of "central" The cancellation will not affect at all the zeros in the value of the dinar.If the value of 1200 dinars to the dollar.
The value of the dollar will be 1.2 dinars... And would be equivalent (1) JD (1000) Current BD. Purchasing power will not change Markets - With the aim easy - sometimes cancel the zeros (1) (1000) Says (1) It means (1000). (25) (25000). And (25) and means (25000) The new currency will be much easier to transport and conservation in the transactions, accounts and audit and counting. (1000) Dealing with the paper easier to deal with the (1000) paper Offering classes, especially higher than 25 dinars.
 


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Breitlings Morning Review 8/9/2011

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