[luckyintx] The Financial Committee: 2013 to replace currency and delete her zeroes Ali Salman-24/02/2013-10: 41 am |
Member of the Finance Committee ruled out Attorney Haitham al-Jabouri, the Iraqi currency replacement project and deleted her zeroes in the year in which the project is to be implemented by the Central Bank.
Al-jubouri said in a press statement Saturday that the unstable political situation and the worsening status of the Central Bank to postpone the project until there is political stability and the stability of monetary policy in the country and after each incident, saying: that this year will see the replacement of Iraqi currency and does not delete the three her zeroes.
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"The Exchange and delete her zeroes will be bigger and better features reduce inflation and revive the dinar as a result of the lack of demand for dollars, which comes with great positives for the economy of the country.
" He said "the Exchange will revive the economy but the country needs political and economic environment conducive to the implementation of the project without meeting any obstacles leading to the deterioration of the currency." LINK
[Shredd] a good article, another iteration of it that is
[luckyintx] ruled out Attorney Haitham al-Jabouri, the Iraqi currency replacement project and deleted her zeroes in the year in which the project is to be implemented by the Central Bank.
[luckyintx] look out when they say they r not gonna do it
[Shredd] well, this is how I look at the project to delete the zeros,.... by the time they start the process of removing the zeros, the rate would have to be on par with the dollar the free float just doesn't make sense from the perspective of managing the administrative side of it
[luckyintx] that this year will see the replacement of Iraqi currency and does not delete the three her zeroes. " "The Exchange and delete her zeroes will be bigger and better features reduce inflation and revive the dinar as a result of the lack of demand for dollars that just sounds wonderful to me!
[luckyintx] 2013 is our year imo when? who knows ...
[Shredd] 2013 is the staging year imo
[bullymomma] Shredd... can you please explain for the 100 and 1 time.... .... the difference in the handling of a managed and a fixed float... please
[Shredd] ok, for a free float, by contrast is a market driven rate
[Shredd] A floating exchange rate or fluctuating exchange rate is a type of exchange rate regime wherein a currency's value is allowed to fluctuate according to the foreign exchange market. A currency that uses a floating exchange rate is known as a floating currency
[Shredd] so, here is the issue I have 1166 is crap we all know that heck, based on money supply alone, the rate would be at least a few pennies so, having rapid growth in a free floating rate would be exciting to see but very difficult imo i've done a chat about this in the past but from a investor perspective
[dolphinslive] so you are seeing close to or a little over a dollar?
[Shredd] agreeing to trades on dinar denominated investments from one day to the next would be scary since amounts paid would swing much thus deterring trade activity until it normalized by the market's estimation dolphinslive so hard to say "how" this will take place
[Shredd] the biggest indication we have recently is from the CBI, not some MP or analyst by the way, the CBI stating that the exchange rate will be 1000 to 1 so, perhaps that will be the only move until they remove the zeros, thus bringing it to 1-1
[Shredd] or perhaps that is the first move we just don't know
[dolphinslive] 1 to 1 would be awesome for us all
[Shredd] dolphinslive it would no matter how it goes down, i feel i may not cash in by my choice
[luckyintx] wait til another rv.... later?
[Shredd] may not be till next year
[luckyintx] I believe when they bring out the NID's, possibly 2014, then it may rv again, a lil higher.... we just dunno at this point.... jmo
[Shredd] well, if we are allowed to wait, the value will grow strong greater than 3
[luckyintx] yes imo it will yes, and even more possibly ... they r pumping more oil now, than even then when the rate was $3.22 ... right?
[luckyintx] so, it should move on up.... as economy grows imo
[Shredd] they surpassed that output a while ago
[broncoroper] say they drop it to a 1000 to 1 how long could or would they leave it like that shredd?
[Shredd] broncoroper no clue but if the three zero project goes to next year, it may be a short period of time
[broncoroper] I see [broncoroper] thanks shredd