Parliamentary finance reveals a tendency to re-work coin

Parliamentary Finance Committee revealed on Monday (19 August 2019), there is a tendency to re-work coin, which has been used for decades in the country, while members of the Committee proposed to pre-empt the coin minting step “delete zeros” from existing currencies to be valuable to the categories Small cash.

The committee member, Hanin al-Qadu, said in a press statement, that "during meetings and discussions with officials in the Central Bank stressed the need to re-work coins that have been used in Iraq during the past decades, rather than paper that is damaged and printed in large quantities again."

He added, "The use of metal categories and their descent for trading gives a notional value to the currency," noting that "a number of neighboring countries - exchange rates are very high against the dollar - and yet we find that it has a coin in order to preserve the currency and not need to ask for more papers." Cash, especially in small categories. "

He expressed surprise at the "policy of the Central Bank, which does not favor the introduction of coins for circulation in the Iraqi market."

Article Credit: https://baghdadtoday.news/
Special Thanks to Charles Bright!!