Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
"Financial Expert: Subtract category 10 thousand new security precaution and to re-structure the expectations of the Iraqi currency"
if the CBI's intent is to replace the existing notes with new (more secure) undated versions, there is no RV, float or any other change in value coming for at least a while (at least months).
It would make no sense to replace these notes if they expected to introduce new lower denominations in the near future. In fact, the CBI has stated the replacement process will continue through the end of this year.
That tells me...nothing is happening with the exchange rate in 2014!
First and foremost the CBI is trying to strengthen the monetary policy (get citizens to use dinar, conform to IMF guidelines, build the banking system, reduce corruption, etc.) and then, once the GOI is formed, laws are passed and security is somewhat stable (ISIL delt with) i expect the CBI to transition to Article VIII and a new Exchange Regime which will begin to raise the value and solve the banking and monetary problems that exist....not to mention create the environment for a successful transition to a market economy.
Iraq does nothing fast despite the outcries from everyone in the media to do so. The good news is it seems that all the experts in Iraq "get it" and what they are saying is what we want to occur. It is so frustrating for sure..because we all know what they could have and they are so far behind schedule...but, we just need to wait it out. Let me give you my personal view...replacement of the 10k is critical since it was the most counterfeited note in the series. In this replacement, they strengthen the banking system, the currency in use and prevent additional fraud. This is necessary before they open the banking system to the world and enter Article VIII. Can you just imagine if they did nothing and the original 10,000 is easily copied and counterfeited in the marketplace? It could potentially cause sever damage to the Iraqi economy. IMO this is good news...
[If the CBI said they were going to create new 25k notes I would be real interested in how long the old notes were going to be accepted.]
The CBI has stated in several articles during this notification of exchange of notes they do not expire. Which is similar to what we have here in the US.
If you took an old $20 or $100 to a store, it would gladly be accepted no matter how old it is as long as it's in usable shape and is real. It's legal tender. I would not expect any timelines until several years after they have transitioned away from 3 zero notes.
Remember the currency of Iraq is the IQD.
"...the next round of political negotiations between the delegation and the Prime Minister Haider Abadi will take place in the next two days, revealing that it will include the number of ministries in the next Government, the Kurds ' lines."
another article proving the government is NOT seated as the Kurds have not yet agreed to participate.
i could care less who the new ministers are or how they get the position I AM CONCERNED ABOUT INTERNATIONAL LAWS ON BANKING AND CBI GOING LIVE WITH A REAL RATE. I WANT TO SEE ALL THE BANKING LAWS PASSED AND IMPLEMENTED.
we will experience a few more setbacks before the CBI will be ready to pull the Monetary Reform Button because the political situation must be right and until then things like the budget will not get passed.
It will happen though but not until the Kurds get all their demands completed, ministers get sworn in and the Kurds start voting in the parliament process.
The deal seems to be completed on their oil agreement, close on Article 140 and the rest will follow nicely. Remember that Rome wasn't built in a day and neither will Iraq.