Central Bank starts during the current year measures the deletion of zeros from currency
Parliamentary Finance: Central Bank starts during the current year measures the deletion of zeros from currency
13/04/2013 2:18 pm
said parliamentary Finance Committee, the central bank, according to correspondences official start of this year procedures deleting three zeros from the local currency, saying that it would lead to the development of cash transactions and economic international.
A member of the Finance Committee Abdul Hussein al-Yasiri Center Brief for the Iraqi Media Network (IMN) It “According Almkhtabat official with the central bank, it is supposed to start this year Balastaadadt necessary to delete three zeros from the local currency.”
and noted that “the local currency will reduce from four billion units to one billion units which will make there Anciabh in the process of the transfer of currency.”
and between Yasiri that “the Finance Committee supports changes to the local currency because of the importance of the country’s economic.”
The central bank says that the deletion of zeros comes within the plan for the development of monetary policy and the reform of currency management.
and was a member of the Finance Committee parliamentary Haitham al-Jubouri, had said in an earlier statement to him that “replacement currency and delete Ocefarha will features the best and the biggest decrease of the volume of inflation and revive the Iraqi dinar due to lack of demand for the dollar, which comes positive aspects significant to the economy of the country, and replaced revive economy Alibd but needs political environment and economic environment for the implementation of the project without facing any obstacles lead to the deterioration of the currency Iraqi “.
was the Iraqi Central Bank has pointed out last August that plans to delete the zeros from the Iraqi dinar to facilitate financial transactions made through cash in most cases. Among the difficulties faced by Iraq if they are to foot the deletion of zeros from the dinar is withdrawn about 30 trillion dinars in circulation in the Iraqi market, then discarded and replaced with a new currency.