Central Bank announces replacement of damaged currency early next month
Central Bank announces replacement of damaged currency early next month
27 October 2012 – 03:01 PM
Central Bank of Iraq, Saturday, from his contract with the British company to replace the currency damaged with new ones, stressing that the replacement process will be the beginning of the month of November, as pointed out that these currencies are only 1% of the currency in circulation in the market.
said bank vice governor Central appearance of Mohammed Saleh “Alsumaria News”, “Bank has contracted with a British company specialized printing currency to print in small denominations which the 250 dinars and the JD 1000, for the purpose of replacing damaged with new ones,” noting that “this company is one of the large companies, which are printed nearly 60% of the currencies of the world. ”
Saleh added that “the month of November will start replacing currency damaged with new ones from the small groups,” adding that “all these currencies damaged constitute only 1% of the currency in circulation, which are many but the worth a few. ”
and citizens suffer from the difficulty of purchasing groups of small markets because of damage and rupture most especially the categories of the 250 and 1000 dinars.
carried the CBI, on the tenth of April 2011, bank management responsibility currency traded damaged in the markets, warning of fines for banks is Collaborating up to a stop, as he emphasized that what is being replaced from the currency damaged in the bank does not exceed 30% of the damaged physical.
noteworthy that the Iraqi Central Bank, with headquarters in Baghdad and has four branches in the provinces of Basra and Sulaymaniyah, Irbil and Mosul, founded the bank independent Iraqi under Iraqi Central Bank Law issued on March 6, 2004, and is the responsibility of the bank is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and management of foreign reserves and the issuance of currency management, as well as to regulate the banking sector.
non14
