ReddStar: Disputes & Arguments about Revaluation! When will Iraqi Dinar Revalue?
By: Sahil Saini April 16, 2016
Disputes & Arguments about Revaluation! When will Iraqi Dinar Revalue? :- Iraqi dinar revaluation is the hot discussion among the people these days. Everyone is looking towards Iraq Government to make final decision about revaluation.
Revaluation is the process that will enhance the value of Iraqi dinar to its previous stage.
There was a time when Iraqi dinar was more powerful currency that the US Dollar. $3.5 US
Dollars were traded against one Iraqi Dinar in 1990. Iraq, Iran and later on Kuwait war were some of the most important reasons for Iraqi currency to decrease its value in the international market.
The expectations are associated with the revolution of dinar is the basic cause for the growing number of dinar investors in the world.
....
By: Sahil Saini April 16, 2016
Disputes & Arguments about Revaluation! When will Iraqi Dinar Revalue? :- Iraqi dinar revaluation is the hot discussion among the people these days. Everyone is looking towards Iraq Government to make final decision about revaluation.
Revaluation is the process that will enhance the value of Iraqi dinar to its previous stage.
There was a time when Iraqi dinar was more powerful currency that the US Dollar. $3.5 US
Dollars were traded against one Iraqi Dinar in 1990. Iraq, Iran and later on Kuwait war were some of the most important reasons for Iraqi currency to decrease its value in the international market.
The expectations are associated with the revolution of dinar is the basic cause for the growing number of dinar investors in the world.
....
Disputes & Arguments about Revaluation
Different people in the world have different arguments about Iraqi dinar and its revaluation. Some of them believe that Iraqi dinar will not be able to regain its lost value as fast as some believe.
It is a huge lose in the value that not years to recover back. They believe that Iraq can only regain its lost value with the stable economic conditions and the peace is the priority for it. Iraq is passing through a massive recession period with the worst security situation in the country.
It is very difficult for a country to get strong economic conditions in the situation like that.
Moreover, they think the half of the country is under the occupation of ISISI that is the major trouble for the country.
The people who believe in revaluation of Iraqi dinar have different opinion about Iraq
and its economic situation. They claim a better security and economic condition of the
country than the people have opposing opinions.
They believe that only media is responsible for the dark side of Iraq and it does not
highlight the things better in the country. They say that ISIS is not a power terrorist
organization as some believe.
The situation is under control by the Iraq Army and the US Forces. Oil is the backbone
of Iraq economy. 99% oil fields are under the direct control of Iraq. None of the terror
organization can claim the control on oil reserves. All of the oil fields are in the southern
side of the country and the ISIS is active in the northern areas of the country.
The country is free from international sanctions imposed by UNO in 1991 after the attack
on Kuwait. They are now free to sign any contract with the any country of the world that
suits their economy. They believe the situation is completely different in the country.
The government of Iraq is interested to sign new contracts with the other countries
and the legal barriers in signing a contract with the other countries are removed.
The special authorities are provided to the governors to sign any contract with the any
country of the world that is in the favor of the country. All of these things are favourable
for the country and the economy of Iraq and we expect Iraqi dinar revaluation in next
few months of years.
What will be the expected time for revaluation?
This question is difficult to answer. If you are a dinar investor, you will have to wait
for better economic conditions in the country that are not too far to achieve for the
government of Iraq.
The dispute between Iraq and Kurdistan was also a major barrier in the revaluation of
Iraqi dinar. The Kurd Ministers were not talking part in the activities of national assembly.
The bill for revaluation is available in the national assembly for discussion.
"Now, with the serious interests by the recent government, the oil dispute
between Iraq and Kurdistan is resolved. It is time to go ahead now. It can
be happened any time as per experts. It may take weeks of months but it
will not be long enough as some believe!"
http://ift.tt/1r8dbRe
ReddStarr: Whoa Nelly!!!! Did this article knock your socks off???? Can we send this guy some cookies???? What do you say Frank??? Can we share??? Isn't it amazing that we are seeing this type of article.....at this point in time!
Frank26: AMAZING .................... Was expected.
But to send him some of my COOOOOOOOOOKIES ?
NO !!!
Unless they RI/RV.................. KTFA Frank
************
Cleitus: IMO, today's news is beyond what we ALL expected!
For the newbies, enjoy it!!! For us who have been with Frank for YEARS savor it like an old bottle of wine ready to be opened for the GREAT celebration so we can ALL drink at the table!!!
HisHarvest: Here's an interesting press release from 2004.
Issued Jointly by the Central Bank of Iraq and the Coalition Provisional Authority
January 15, 2004
SADDAM-FREE DINAR BECOMES IRAQ’S OFFICIAL CURRENCY
Iraqi currency exchange ends today
Iraq’s new Saddam-free banknotes have officially replaced its old, easy-to-counterfeit money, following a three-month exchange period which ends today.
More than 10000 tonnes of redundant and worthless notes bearing the image of captured dictator Saddam Hussein, are now to be destroyed.
By contrast the new currency, illustrated with scenes depicting Iraq’s important scientific contributions, its history and landscape and its economic life is steadily appreciating in value. Since October 15th, the start of the Iraqi Currency Exchange (ICE), the new dinar’s worth has risen by 25%.
Marking the formal end to ICE with a reminder of the programme’s purpose the Deputy Governor of the Central Bank of Iraq Ahmed Salman Jaburi said:
“The new dinar is a real improvement on the old. It’s secure – its many visible and invisible security features make it very hard to fake – and because of this it has the Iraqi public’s confidence.
“A secure currency will provide a firm foundation for Iraq’s future economic growth.”
Praising both bank staff around the country and Coalition workers for their part in their programme, he said:
“It’s thanks to the thousands of people who have worked with the Central Bank of Iraq - bank managers and their staff nationwide, Coalition planners and economists and Iraqi and Coalition security forces – that the exchange has been a success.”
Expert planning and organization of the exchange programme – a huge and complex logistical operation – meant that new currency was printed and being distributed to banks around Iraq less than six months post-conflict.
Underlining the speed and efficacy with which the exchange was effected Coalition Provisional Authority (CPA) administrator Ambassador L Paul Bremer said:
“Less than a year into reconstruction Iraq has completed what it took 3 years to begin in post-WW2 Germany.
“Rebuilding Iraq’s ruined economy is a key priority for the Coalition – a new currency to replace the discredited old one was a necessary early move.
“With the new dinar now wholly in place a line has been drawn under Iraq’s recent economic past and the focus shifted to its economic future.”
Iraqi Currency Exchange: The Facts
Chronology
The Coalition Provisional Authority announced its intention to work with the Central Bank of Iraq to introduce a new Iraqi currency on 7th July 2003, following consultation with Iraqi leaders and officials.
3 months of planning and preparations followed.
DeLaRue began printing in late July, following agreement that the new notes would be based on a pre-existing design (from the pre-Saddam Iraqi currency), the Swiss dinar (still in use in the Kurdish area at that point).
The first shipment of the new currency arrived in Iraq by plane on 17th September 2003.
Security for the exchange – including a guard force to protect money en route to bank branches and an Iraqi security force presence at those branches - was fully operational on October 1st 2003.
The exchange itself began on October 15th and ended on January 15th 2003.
It is expected that bank vaults around the country, many completely filled with sacks of old Saddam dinars, will be cleared by the end of January 2003.
The Central Bank will complete the verification and destruction of old notes a few weeks after that.
Information
A ‘why, what, how, where, when?’ public information campaign in September and October 2003, saw the nationwide distribution of 375 000 posters in two designs, and 4.5m handbills in 3 designs, including 1.9 million in outlying areas via Oil For Food channels (graphics available on request)
In September and early October 2003 a currency exchange roadshow visited cities and towns in 13 Iraqi provinces (governorates) – representatives of the Central Bank of Iraq and Coalition officials met with hundreds of community leaders to discuss the exchange process and answer questions.
Transportation
The new notes were airfreighted to Baghdad in 28 747-loads of about 90 tonnes each.
A fleet of 4 smaller aircraft distributed the cash in bulk to regional centres.
Iraqi armoured vans and a fleet of 40 large trucks delivered cash to individual bank branches.
To date road convoys have made more than 1000 return journeys delivering new currency and picking up old.
People
Thousands of bank tellers in 250 branches around the country have worked overtime and Fridays (earning appropriate bonuses), to effect the currency swap.
1000 of these staff attended training courses in September and early October 2003 and themselves trained other staff.
Around 700 staff at the Central Bank of Iraq are involved with managing the programme or checking or destroying old currency.
500 Arabic-speaking Fijian ex-soliders have been employed to help guard the new dinars during the exchange programme. They have travelled all over Iraq with delivery and pick-up convoys.
Around 4000 Iraqis have provided security at bank branches nationwide – both bank guards and police.
A dozen Coalition experts – logisticians, security advisors, economists, bankers – have worked full-time, in-country with the Central Bank of Iraq on the exchange but many more have provided advice on particular aspects of the programme.
Weights and measures
To date around 4.5 trillion new Iraqi dinars ($3 billion) are estimated to be in circulation.
A full box of the new notes (as carried into bank vaults around Iraq) weighs a backbreaking 110lb.
Around one-third of the 10000 tonnes-plus of old currency (around 300,000 sacks) gathered in the course of the exchange has now been verified (checked) and incinerated.
Security
Given that ICE teams have made hundreds of deliveries and pick-ups around the country in the last two months, the number of incidents has been small.
Most significantly there were five successive attacks (IEDs, RPGs, small arms fire) in November 2003 in Samarra, culminating on 30th when two convoys were ambushed and fighting between insurgents and Coalition troops ensued.
Despite enemy engagement the convoys both delivered to and picked up from their banks as planned during lulls in firing.
The ICE team has sustained no fatalities to date but there have been 11 casualties, 7 of whom were back at work almost immediately and 4 of whom left Iraq to convalesce.
No currency has been lost in the course of any such incident.
Costs
The Development Fund for Iraq (DFI) will meet the estimated $200m total cost of the exchange.
Printing the high-quality, hard-to-counterfeit notes with their many sophisticated security features cost around $130 million.
Operational costs including security, transportation, so-called ‘life support’ – for example, accommodating and feeding guards – and necessary purchases – eg radios, telephones, generators, UV counterfeit detectors – totalled around $70m.
http://ift.tt/1T5RhVg
Notes to Editor
Find images of the new currency online at: http://ift.tt/1r8dbRg
20031015_Congressional-_CURRENCY_EXHANGE_BEGINS3.htm
2. Contact: Karen Triggs, in the CPA Public Affairs Office, 1-914-822-5001 or visit the Office of Public Relations at the Central Bank of Iraq.
Issued Jointly by the Central Bank of Iraq and the Coalition Provisional Authority
January 15, 2004
SADDAM-FREE DINAR BECOMES IRAQ’S OFFICIAL CURRENCY
Iraqi currency exchange ends today
Iraq’s new Saddam-free banknotes have officially replaced its old, easy-to-counterfeit money, following a three-month exchange period which ends today.
More than 10000 tonnes of redundant and worthless notes bearing the image of captured dictator Saddam Hussein, are now to be destroyed.
By contrast the new currency, illustrated with scenes depicting Iraq’s important scientific contributions, its history and landscape and its economic life is steadily appreciating in value. Since October 15th, the start of the Iraqi Currency Exchange (ICE), the new dinar’s worth has risen by 25%.
Marking the formal end to ICE with a reminder of the programme’s purpose the Deputy Governor of the Central Bank of Iraq Ahmed Salman Jaburi said:
“The new dinar is a real improvement on the old. It’s secure – its many visible and invisible security features make it very hard to fake – and because of this it has the Iraqi public’s confidence.
“A secure currency will provide a firm foundation for Iraq’s future economic growth.”
Praising both bank staff around the country and Coalition workers for their part in their programme, he said:
“It’s thanks to the thousands of people who have worked with the Central Bank of Iraq - bank managers and their staff nationwide, Coalition planners and economists and Iraqi and Coalition security forces – that the exchange has been a success.”
Expert planning and organization of the exchange programme – a huge and complex logistical operation – meant that new currency was printed and being distributed to banks around Iraq less than six months post-conflict.
Underlining the speed and efficacy with which the exchange was effected Coalition Provisional Authority (CPA) administrator Ambassador L Paul Bremer said:
“Less than a year into reconstruction Iraq has completed what it took 3 years to begin in post-WW2 Germany.
“Rebuilding Iraq’s ruined economy is a key priority for the Coalition – a new currency to replace the discredited old one was a necessary early move.
“With the new dinar now wholly in place a line has been drawn under Iraq’s recent economic past and the focus shifted to its economic future.”
Iraqi Currency Exchange: The Facts
Chronology
The Coalition Provisional Authority announced its intention to work with the Central Bank of Iraq to introduce a new Iraqi currency on 7th July 2003, following consultation with Iraqi leaders and officials.
3 months of planning and preparations followed.
DeLaRue began printing in late July, following agreement that the new notes would be based on a pre-existing design (from the pre-Saddam Iraqi currency), the Swiss dinar (still in use in the Kurdish area at that point).
The first shipment of the new currency arrived in Iraq by plane on 17th September 2003.
Security for the exchange – including a guard force to protect money en route to bank branches and an Iraqi security force presence at those branches - was fully operational on October 1st 2003.
The exchange itself began on October 15th and ended on January 15th 2003.
It is expected that bank vaults around the country, many completely filled with sacks of old Saddam dinars, will be cleared by the end of January 2003.
The Central Bank will complete the verification and destruction of old notes a few weeks after that.
Information
A ‘why, what, how, where, when?’ public information campaign in September and October 2003, saw the nationwide distribution of 375 000 posters in two designs, and 4.5m handbills in 3 designs, including 1.9 million in outlying areas via Oil For Food channels (graphics available on request)
In September and early October 2003 a currency exchange roadshow visited cities and towns in 13 Iraqi provinces (governorates) – representatives of the Central Bank of Iraq and Coalition officials met with hundreds of community leaders to discuss the exchange process and answer questions.
Transportation
The new notes were airfreighted to Baghdad in 28 747-loads of about 90 tonnes each.
A fleet of 4 smaller aircraft distributed the cash in bulk to regional centres.
Iraqi armoured vans and a fleet of 40 large trucks delivered cash to individual bank branches.
To date road convoys have made more than 1000 return journeys delivering new currency and picking up old.
People
Thousands of bank tellers in 250 branches around the country have worked overtime and Fridays (earning appropriate bonuses), to effect the currency swap.
1000 of these staff attended training courses in September and early October 2003 and themselves trained other staff.
Around 700 staff at the Central Bank of Iraq are involved with managing the programme or checking or destroying old currency.
500 Arabic-speaking Fijian ex-soliders have been employed to help guard the new dinars during the exchange programme. They have travelled all over Iraq with delivery and pick-up convoys.
Around 4000 Iraqis have provided security at bank branches nationwide – both bank guards and police.
A dozen Coalition experts – logisticians, security advisors, economists, bankers – have worked full-time, in-country with the Central Bank of Iraq on the exchange but many more have provided advice on particular aspects of the programme.
Weights and measures
To date around 4.5 trillion new Iraqi dinars ($3 billion) are estimated to be in circulation.
A full box of the new notes (as carried into bank vaults around Iraq) weighs a backbreaking 110lb.
Around one-third of the 10000 tonnes-plus of old currency (around 300,000 sacks) gathered in the course of the exchange has now been verified (checked) and incinerated.
Security
Given that ICE teams have made hundreds of deliveries and pick-ups around the country in the last two months, the number of incidents has been small.
Most significantly there were five successive attacks (IEDs, RPGs, small arms fire) in November 2003 in Samarra, culminating on 30th when two convoys were ambushed and fighting between insurgents and Coalition troops ensued.
Despite enemy engagement the convoys both delivered to and picked up from their banks as planned during lulls in firing.
The ICE team has sustained no fatalities to date but there have been 11 casualties, 7 of whom were back at work almost immediately and 4 of whom left Iraq to convalesce.
No currency has been lost in the course of any such incident.
Costs
The Development Fund for Iraq (DFI) will meet the estimated $200m total cost of the exchange.
Printing the high-quality, hard-to-counterfeit notes with their many sophisticated security features cost around $130 million.
Operational costs including security, transportation, so-called ‘life support’ – for example, accommodating and feeding guards – and necessary purchases – eg radios, telephones, generators, UV counterfeit detectors – totalled around $70m.
http://ift.tt/1T5RhVg
Notes to Editor
Find images of the new currency online at: http://ift.tt/1r8dbRg
20031015_Congressional-_CURRENCY_EXHANGE_BEGINS3.htm
2. Contact: Karen Triggs, in the CPA Public Affairs Office, 1-914-822-5001 or visit the Office of Public Relations at the Central Bank of Iraq.
via Dinar Recaps - Our Blog http://ift.tt/1T5RhVi
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