Iraq: Delete the zeros of the local currency begins next year

Iraq: Delete the zeros of the local currency begins next year

14/07/2012 12:43

Diyala, July 14 (Rn) – The Finance Committee representative, Saturday, that the process of replacing the currency and delete zeros of which will be gradually beginning next year, noting that the process takes two years to three. A member of the Committee and the representative of the Iraqi List, Hassan Auzmn told the Kurdish news agency (Rn) that the Iraqi Central Bank will begin to withdraw the current currency early next year, gradually and keep the trading currency current to give citizens enough time to replace the currency. ” He Auzmn replacement of the currency and delete zeros experience a successful and useful for the Iraqi economy through their success in a number of other countries, pointing out that “The operation will contribute to ease carrying banknotes to the citizen will not have any negative impact on the Iraqi economy (according to him). did not rule out Auzmn attempts to falsify the new currency adding: security measures to be taken to defend the currency will be identified easily from the old currency and the new currency. announced that the Finance Committee parliamentary early July being the budget next year 2013 will be the new currency after deleting three zeros from the current currency, saying that the reluctance of traders and companies from trading in Iraqi currency behind the adoption of the Central Bank of the project to delete the zeros. According to some economists that Iraq is ready for the time being to delete the zeros of the Iraqi dinar, pointing out that the deletion needs to be a security and political stability as well as economic stability.From: Mahmoud Jubouri, the Open: Peace Baghdadi

Source: aknews