Deleting 3 zeroes from the Iraqi dinar will cost CBI $150 million

Date: Monday 03/26/2012

UAE’s Al Ittihad newspaper Monday, 26/3/2012 official sources within the Central Bank of Iraq that the draft deleted three zeros from the Iraqi dinar and actually began the process of replacement will cost the state budget the amount of 172 billion dinars (150 million dollars), and the budget next year will be the new dinar will «Central» to raise its value gradually against the dollar down to be…. the equal of any dinars per dollar.and showed official documents, especially the replacement of the Iraqi dinar to the new edition will be issued in three languages, Arabic, Kurdish and English, and the Kurdish language in government transactions provided for constitutionally, while the cost process printing will be forwarded to one of four international companies specialized $ 150million is distributed in print, transport, insurance, and work outside of office hours for the destruction of the old currency which will be this time within the Central Bank.and the Deputy Governor of the Central Bank of Iraq the appearance of Mohammed Saleh, “The studies printed a new series of Iraqi currency started since 2005, and began correspondence with the Committee on Economic Affairs in the Iraqi government in 2007 around the idea of deleting three zeros from the currency. “
He added that the bank actually started the project any printing a new currency will be characterized as specifications of the best security in the world.