Iraqi Central Bank: No intentions to strike out zeros from the currency
Iraqi Central Bank: No intentions to strike out zeros from the currency
26-04-2013 – 13:00
Editor: Ghassan Hamed
Iraqi Central Bank expressed on Thursday that it does not intend to restructure Iraqi currency of strike out the three zeros, denying any news pertaining to Iraqi Dinar redenomination .
“Some media stations reported statements that the Central Bank was thinking about restructuring the Iraqi currency and striking out the three zeros”, said the bank in a statement of which Alsumaria got a copy. It added “the Bank, considered to be the only authority or reference to make such statement, points out that we have no intention to restructure currency or strike zeros out”.
Local news stations have reported a few days before that currency restructuring and removing zeros will soon take place considering that this will lead to promoting currency exchange and international economic transactions, in a new development on the Iraqi currency forefront.
The general secretariat of the cabinet announced on April 12 that it will carefully reconsider striking out zeros which entails suspending all monetary activity until further notice.
Some economy experts consider that Iraq is not ready at the time for striking out the zeros from the Dinar, pointing out that such operation required security, political and economic stability.
