Delete and replace the zeros of the Iraqi currency early 2013

Main points:

  • Various categories of new currency will begin to be printed in September 2012
  • New currency will be issued in January 2013
  • Iraqi Dinars held currently will be pulled off market completely by mid-2014, approximately 1 year from new currency being issued
  • Authorities believe new currency will create stability economically and reduce dollarization (hard currency)

Sumerian News / Baghdad revealed the Finance Committee of parliament Tuesday, that the deletion of zeros and replacing Iraqi currency Seetman early January 2013, as pointed out it will start printing the new currency in various categories in September.

A member of the Finance Committee Haitham Jubouri in an interview for “Alsumaria News “that” the month of January of next year 2013 will see the deletion of three zeros and the replacement of the currency, “adding that” as of next September 2012, will be the direct printing of new currency in different categories. “

The Jubouri that “the process of replacing the old currency will continue to a full year that be pulled out the old in full within the first six months of the year 2014, “noting that” delete three zeros and replace can offer to preserve the afterbirth stability of the Iraqi currency and reduce the demand for hard currency. “

He Jubouri that “the Central Bank of Iraq has squandered all concerns relating to money laundering and fraud During the process of replacing the old currency El Jadida, “explaining that” has a special organ to combat money laundering. “

The Jubouri that “reform the system of currency management at the heart of the Central Bank and the deletion of zeros is a function of the strategy,” stressing that “the Finance Committee of the Parliament supports the Central Bank of Iraq policy in that direction. “