Government of Iraq going Ahead with Large Currency Denominations for the Iraqi people to Reform System

In Iraq, things are getting better as I write this post.  The government of Iraq and the Parliamentary Economic Committee is getting very serious about the monetary policy.  The Economic Committee and the Central Bank of Iraq (CBI) has decided to reform the system.  The printing of larger banknotes is coming to the Iraqi people. The Economic advisor, Mohammed Saleh has published information in the local Baghdad media about the Central Bank of Iraq (CBI) printing large category banknotes that will support the Iraq economy.  The Economic Advisor Saleh said that this was on the road to economic reform.  In recent articles and videos I informed you that large denominations such as 100K and 50K would be printed and in circulation.  Every Iraqi citizen in the country will use the large notes.  The large banknotes will not be an interbank only the 50k and every Iraqi citizen will use 100k in daily commerce. Over the last several years, the money supply has grown to approximately 40 trillion … [Read more...]

Iraqi Banker Gives Clue About IQD Higher Denominations

I’ve created this video to share with the Iraqi Dinar community. The video gives you an insight on what an Iraqi banker is thinking about when it comes to the Iraqi dinar and the denominations. I will publish more videos and make sure you are on my mailing list. You are getting the best information about the Iraqi dinar it is current and up to date. If you have questions, you can email them at ac@americancontractor.com Please watch the video below and share with your contacts. Make sure you also join my YouTube Channel.   Adobe PDF of the correspondence between the Iraqi banker and American Contractor … [Read more...]

Central Banks creates workaround for distributing hard currency through additional currency exchange stores as the Iraqi Dinar Exchange rate 1340

The Central Bank of Iraq (CBI) realizes that they have a major problem with the exchange rate of the Iraqi Dinar.  The CBI has filed a lawsuit against the Parliament Economic Committee to lift the currency auctions restrictions of only $75 million per auction day.  There has been no published date scheduled for the hearing in the Iraqi court system. Meanwhile, the Central Bank has limited the dollar currency auctions to two times per month, trying to limit the US dollars in circulation.  The current market rate for one US Dollar is 1340 Iraqi dinar.  The market rate for the Iraqi Dinar has not been this high in several years. The Central Bank will be increasing the number of exchange companies inside Iraq and will be utilizing both state banks to assist in distributing the hard currency US dollars to Iraqi citizens.  The State banks Rafidain and Rasheed will be distributing the hard currency to other banking facilities and currency exchange centers.  The new procedure is going to be … [Read more...]

Taxes Are Being Collected From All Currency Transactions in Iraq

There has been plenty of great news going on inside Iraq.  There has been an update to the higher US Dollar exchange rate in the country.  No one in Iraq is trying to shut down the currency exchange centers in Iraq.  No one is trying to shut down any store that exchanges currency for a living.  If someone said this recently, this is not true.  The Central Bank of Iraq needs every single bank and currency exchange store operational inside the country.  I do mean every currency business fully operational in Iraq. The reason is that all these currency exchange stores and banks assist the CBI in the distribution of currency in the country.  Why would the CBI need them shut down?  Who is going to collect the taxes from the currency transactions?  Taxes for the currency exchange range is anywhere from 3-5% for each transaction from the Iraqi dinar to the US Dollar.  Iraq has a $23 billion dollar deficit, and it is trying its best to collect the taxes to offset the deficit.  The collecting of … [Read more...]

Iraqi Dinar Gurus Claim Manipulating Market

Iraqi dinar control US Dollar

An uninformed dinar guru now admits that manipulating the market is a good thing.  The dinar guru says that Iraq is trying to control the amount of US dollars that are in Iraq.  The statement is false from this guru, and not surprising. from: www.dinarguru.com In Iraq, all oil sales have always been denominated in US Dollars.  It would be difficult to “control the amount of dollars in Iraq.”   Iraqi citizens and banks are holding onto the US dollars because the dollars are more stable and stronger than the Iraqi dinar.  People in Iraq now are requesting and wanting the US Dollars, and they have been for a long time.  The preferred currency is the US Dollar when completing private or public projects in Iraq. The Iraq Central Bank is not in any way trying to manipulate the US Dollars in the country.  They are trying to implement a plan to stop the capital flight of the hard currency from Iraq.  The restriction of the dollar auctions to $75 million per day will not be sustainable in the … [Read more...]

Central Bank of Iraq 50 Iraqi Dinar Press Release

On February 26, 2015 the Central Bank of Iraq issued a press release announcing for the people of Iraq to stop using the 50 Iraqi dinar currency. The Central Bank is requesting all banks to accept the 50 IQD banknotes with fees or commissions and return the banknotes to the Central Bank. I have the press release from the Central Bank of Iraq translated from Arabic to English. You can download the document in the Adobe PDF below.   Central Bank of Iraq Press Release on the recall of the 50 Iraqi Dinar banknotes from Iraq. http://americancontractor.com/Iraq Central Bank fifty banknotes press release       … [Read more...]

Iraq Central Bank Pulls The Fifty Iraqi Dinar Banknote Continues To Restructure Currencies

Central Bank Iraq pulls fifty Iraqi dinar banknote

Iraq Central Bank starts to reconstruct its currency before delete the zeros project As of today, there is not a single person inside the country of Iraq that has not heard the announcement from the Central Bank of Iraq (CBI). On Sunday, March 1, 2015, the CBI announced that the 50 Iraqi dinar banknotes would no longer be used in Iraq. In October 2003, the Central Bank printed the new Iraqi dinar currency.  It is reported that the Central Bank  printed 4.3 trillion Iraqi dinar banknotes and distributed them from October 15, 2003 to January 15, 2004.  We know that they printed 4.3 trillion by reviewing the U.S. government document dated December 15, 2003 to the United States Congress.  You can review the YouTube video where I previously documented this. The delete the zeros project is a mechanism that does two things.  I have on numerous occasions reported to you that this is the printing of new Iraqi dinar currency.  Before the Central Bank can print the new currency they have to … [Read more...]

Iraqi Dinar Currency Revaluation Structure

Iraqi Dinar Revaluation currency

  I've written several articles on the Central Bank of Iraq (CBI) delete the zero's project in the last couple of weeks and kept you all updated with the most accurate information.  In a previous article, I said that the delete the zero's project would not start until the first quarter of 2016.  Sources within the Basra Economic Committee stated that the CBI and the Iraqi government will not start the Iraqi Dinar currency revaluation structure until all Iraqi provinces are fully in government control.  The CBI and Iraqi government are going to delay the currency until every one of the Islamic State militia fighters is no longer present in Iraq. Iraq parliamentary economic committee member Najiba Najib has stated in local Baghdad media that the main obstacle to the plan is the security situation, which is currently gripping the country.  Najib said, "The current currency is not commensurate with the economic crisis that hit the country."  The CBI alone can not implement this … [Read more...]