International experiences have proved successful in changing their national currencies

International experiences have proved successful in changing their national currencies


BAGHDAD - Imad emirate

There are many goals that can be achieved as a result of changing the currency of any deletion of zeros, including the promotion of confidence currency at home and abroad and re-standing regional and international her, and facilitate currency conversion to other currencies process,
the heart of the direction of the currency of foreign currencies to local currencies, excluding banknotes high figures and low-value, as well as put Sticky inflationary expectations and currency management reform and re-structure their categories.

This is what academic d. Abdul-Hussein Ghalibi from the Faculty of Management and Economics at the University of Kufa: Several countries proceeded to change its currency several reasons, and this Germany states that hyperinflation played a role in raising prices to levels not known before in its history as the State proceeded to finance public expenditures for Trbak Securities cash mark which led to the development of inflationary waves from day to day and even from hour to the other with great force.

resorted German government in 1923 to a new currency issue is Rantmark equivalent Elf billion mark, and the next year, the government issued a new currency named the Reich Mark to replace Rantmark one by one, but the difference is that the second was not capable of exchange with gold.

He Ghalibi in an interview for »Sabah»: The Reich Marc characterized this feature was pulled Rantmark of trading in 1948 and was re-mark the issuance and continued to deal until 2002, when the euro, which is released the fourth-largest international reserve currency, where Germany has been at the forefront of leading EU countries.

He then comes the State of Bolivia, which was characterized by historically political coups and economic collapses, explaining she did this state during the sixties of the last century to replace its currency Bolivian was changing its name to the peso at a rate of 1000 thousand bolivianos versus the peso, and the reason is the low value of the Bolivian, and continued inflation escalate where the dollar exchange rate in 1963 is equal to 6.11 pesos and in 1972 came to 20 pesos, and in 1979 he continued his downward fast as it arrived in the dollar price per one million pesos in 1985 then to 2 million in 1986, and after conducting economic reforms stabilized the exchange rate at 8.1 and 9.1 million pesos in the same year was issued the new currency the old in its name any replacement of every one million million pesos and one unit of the new currency, called Bs.

He Ghalibi that the political and economic conditions experienced by the Sudan was one of the main payment factors to change the Sudanese currency issued for the first time in 1957 on behalf of the pound, which lasted into circulation until 1991 as it was replacing the currency and change its name to the dinar, so that every dinar equivalent of ten pounds.

In 2006 and based on political agreements between the Sudanese transitional movements Central Bank of Sudan adopted a program for the issuance of a new currency during the transitional period under the Sterling name to replace the dinar by 1 pound equivalent to 100 dinars.

The most important question is whether that Iraq needs to change its currency? This is what we will leave for discussion at a later topics.