CBI: Reveals details of the Iraq Currency
CBI: Reveals details of the Iraq Currency
Posted: October 13, 2011 by THE CURRENCY NEWSHOUND - Just Hopin in Iraqi Dinar/Politics
Palm – the central bank of Iraq, that Iraq’s new currency will increase by three zeros, indicating that he had conducted an extensive study concluded that the lifting of the zeroes will strengthen the value of the Iraqi currency.
The deputy governor of Central Bank of Iraq the appearance of Mohammed Saleh during a media statement: The Central Bank is determined to raise the three zeros from the currency of the new Iraqi and presented its project to the government and the House of Representatives and is awaiting the government’s decision and the Council of Representatives.
Economists and shows that the process of removing three zeros from the Iraqi currency will lead to increased value, and to increase the purchasing power of citizens, noting to the need to pursue policies to persuade the citizens quiet and get a feel for a period not exceeding two years.
And the benefit that the draft lifting the three zeroes from the currency made by the government five years ago to the Central Bank, and has undergone throughout this period to an extensive study over the need to raise zeros to strengthen the value of the Iraqi currency, adding that the deletion of zeros enhance the value of the Iraqi currency and reduce the cost of handling cash, and currency its current estimated size of today Petrlionat dinars, which makes the process of dealing with the monetary cost is high.
The Central Bank of Iraq began to discuss amending the categories of the dinar last year and is still a large part of the payments being in cash due to the evolution of the banking system, noting that the President of the Securities Commission of Iraq has said, earlier, that the deletion of zeros from the Iraqi currency will not affect the circulation of the Iraqi Stock Exchange and shares.
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