CBI hopes to adopt the new currency in 2013 budget

CBI hopes to adopt the new currency in 2013 budget

02-07-2012 10:16 AM
Are free – He Central Bank of Iraq Sunday for hope the adoption of new Iraqi currency after deletion of zeros in the country’s budget for next year. The central bank says it completed a road map to get rid of three zeros from the currency to reduce the money supply and ease of financial transactions in line with the new situation of the Iraqi economy. but government and the Securities Commission Ibdita Khchithma that affect the process negatively on the financial trading market in Iraq Stock Exchange. Deputy Governor of the Central Bank of the appearance of Mohammed Saleh, said that ‘the process of switching the currency and delete zeros will take nearly two years and the ongoing preparations for a process that began more than a year.’ and expressed through hosted by the Parliamentary Committee of Finance hoped that ‘the balance of 2013 the new currency. ” According to a statement of the Finance Committee representative, they discussed with the benefit of the mechanism that will be followed by the bank in the process of deleting the zeros and how long this process and changes that will occur on the exchange of currency and its value in the domestic and global market and their effects on the Iraqi citizens and its level of living. and stressed the benefit of the ‘completion of the project the improvement of the payments and to facilitate the circulation of currency,’ he said, adding that ‘the process will raise the exchange of currency and improve its value in the domestic and global market. ” He denied causing any effects on the standard of living of the Iraqi people, calling for cooperation of everyone, all from his position for the success of the project as a national and belongs to everyone. and see the market in weeks fluctuation in the exchange rate of the dinar against the U.S. dollar, which cited experts to restrictions imposed by the Bank on the sales of hard currency. and the imposition of bank procedures more stringent in the auction for the sale of dollar after he said that the currency you go to the neighboring countries, especially Syria and Iran imposed upon economic sanctions. The main tasks of the Central Bank in managing monetary policy in the country and raise the level of the value of Iraqi dinar and deal with inflation in the country. and the Central Bank of Iraq four branches in Basra and Sulaymaniyah, Erbil and Mosul
Source: ahraraliraq

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