Financial: Central Bank begins this year, delete zeros from currency

Financial: Central Bank begins this year, delete zeros from currency



The parliamentary Finance Committee, said the Central Bank in accordance with official correspondence begins this year with three zeros from the delete actions in the local currency, saying it will lead to the development of international economic and monetary transactions.

Member of the Finance Committee, said Abdel Hussein Al-yasiri for sourcing Centre for the Iraqi media network (IMN), “according to the official with the Central Bank of almkhtabat it is supposed to start this year made for deletion of three zeros from the local currency.

He said the local currency will reduce from four billion to one billion unit which will make there is flow in the transfer currency.

Yaseri “Finance Committee supports changes to the local currency because of the economic importance to the country.”

The Central Bank says that the deletion of zeros is part of a plan to develop monetary policy and currency management reform.

He was a member of the parliamentary Finance Committee Haitham Al-jubouri, said in a statement earlier that “the Exchange and delete her zeroes will be bigger and better features reduce the amount of inflation and revive the dinar as a result of the lack of demand for dollars, which comes with great positives for the economy of the country, to replace CPG economy revived but needs a suitable political and economic environment for the implementation of the project without meeting any obstacles leading to the deterioration of the currency.”

The CBI had said last August it planned to delete the zeros of the Iraqi dinar to facilitate financial transactions made through criticism most often. Among the difficulties facing Iraq if he wanted to delete the zeros of the dinar is pulling about 30 trillion dinars circulating in the Iraqi market is then discarded and replaced by a new currency