Deleting the zeros depends on the CBI’s control over the dinar exchange rate; Calls for adoption of new monetary policies before implementation
FRIDAY, MAY 25 / MAY 2012
Confirmed to the parliamentary Finance Committee, on Friday, that the implementation of the project to delete the zeros of the Iraqi dinar currency and restructuring depends on the extent of control and control of the Central Bank of the exchange rate of the Iraqi dinar against the dollar, as called for the adoption of new monetary policies before the implementation of the project.
A member of the Finance Committee Najiba Najib in an interview with “Twilight News” that “the project to delete the zeros and the restructuring of the currency made by the central bank depends on the extent of implementation of control and control of the Iraqi dinar exchange rate against the dollar.”
Najib said that “the central bank and government in the event will allow them to take action and contribute to a new monetary policies to control prices of the Iraqi dinar against the dollar, they will be able to cancel the wait and start deleting the zeros and the restructuring of the currency.”
The Cabinet decided, in the middle of the month of April last, be patient in the application of the deletion of zeros from the national currency.
She Najib that “the central bank is still working to control the lifting of the Iraqi dinar exchange rate against the dollar,” afterthought by saying that “political and security situation and economic development at the present time does not help to delete the zeros and the restructuring of the Iraqi currency.”
The Central Bank of Iraq began to modify the search categories dinar, last year, and is still a large part of the payments being in cash due to the evolution of the banking system.