Dinar Iraq News
Central Bank reveals details of Iraq’s new currency
Posted: August 31, 2011
Iraqi Central Bank unveiled, Tuesday, that the new Iraqi currency be
lifted by three zeroes, stating that he had conducted an exhaustive
study concluded that lifting the Iraqi currency would strengthen the
zeros.
Deputy Governor Central Bank of Iraq the appearance of Mohamed Saleh
said in an interview for “twilight news”, “the Central Bank is
determined to raise three zeros from the new Iraqi currency, the
Government introduced its House, and is awaiting the decision of the
Government and the House”.
Economists, shows that the process of
deleting the three zeros from the Iraqi currency will raise its value
and increased purchasing power of citizens, pointing to the need to
pursue policies to persuade citizens and get calm for a period not
exceeding two years.
And the “draft three zeros from the currency lifted by the Government
five years ago to the Central Bank, and throughout this period to have
undergone extensive study resulted in the need to strengthen the
currency lifted zeros.”
“Delete zeros strengthened Iraqi currency and reduce the cost of cash
handling and currency current estimated today, dinars by trillions make
monetization process with a high cost.”
The Central Bank of Iraq had begun consideration of an amendment last
year dinar categories. A large part of the payments still being cash
because the evolution of the banking system.
The head of the Iraq Securities Commission, emphasized earlier, that
the deletion of the zeros of Iraqi currency in circulation will not
affect the Bourse and its shares.
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