Economist: a large version of currencies is incorrect and would disrupt the market

Published on: Today, 01:02

BAGHDAD / Sky Press: Private m, a
He denied expert in economic affairs spokesman Abdul Hadi, on Wednesday, to arrive banknote cost 50 thousand dinars category to $ 68, calling on the central bank to take the time to exchange large version because it will cause the market to overwhelm the country.

Said Abdul Hadi's "Sky Press," that "Matnaqlth some media that the banknote cost 50 thousand category of up to $ 68 is not true, adding that" the issuance of currency costs are even lower than their face value much, as one US dollar cost of cost three cents, and this is known as proceeds release. "

"The central banks have achieved profits by the difference between the cost of the currency during the print nominal value", noting that "the increase in demand for the dollar Ajribt to the growing demand by the central bank also pointed out but to citizen's confidence in foreign currency."

The central bank called for "careful in issuing large currency because it will cause overwhelm Alsok in the country."

It is said that a member of the Finance Committee Haitham al-Jubouri likely, printed a new currency 100 000 dinars category during the next two years, as he emphasized that the cost of printing 50 000 dinars category amounted to 5 trillion dinars.