May dinar is equal to the dollar!!

May dinar is equal to the dollar!

Palm – said the deputy governor of the Central Bank of the appearance of Mohammed Saleh said that the bill included proposals for a new currency and the categories that bear and details of technical and economic.

Saleh pointed out during the permit media to change the currency and delete zeros decision of the executive and approved by the legislature, and that the project will not be implemented hastily, but will be taken among other factors to consider before you start to implement it, including the date of the financial year and the strength of the national economy, among other indicators in the favor of the view that This law, if approved, will have a positive impact on the Iraqi currency in several aspects you need during the next phase, which will strengthen the value of the Iraqi currency.

He described the favor of a system of cash payments of the current Iraqi regime miserable, noting that the largest denomination in which value does not exceed twenty dollars, confirming that the deletion of zeros will enhance the value of the Iraqi currency, and reduces the cost of handling cash, The currency in its present estimated size of today Petrlionat dinars, making the process of dealing monetary cost is high.

And about the fears rigging of the new currency in the event were issued or it will affect negatively on the economic situation, responded in favor: that it reflects the look bleak, do not forget that there are other countries proceeded to switch its currency and dropped them zeros, such as Turkey, Romania and Brazil without being its economy to shocks and thus Iraq is not engaged in an unknown water or walking on the road did not knock him one before is likely to include the new currency for the population to the side of a coin paper.

And return more zeros on the Iraqi dinar to the days of inflation, which came on the value of the Iraqi currency is a result of previous wars and the subsequent economic blockade, turned the currency of Iraq to the paper was printing houses of the former regime exported in large quantities without the cover, while the Iraqi dinar until the mid-eighties equivalent of more than three U.S. dollars.

But the adviser to the prime minister for economic affairs, Abdul Hussein Al-Anbuge said in a press statement: that the rampant corruption in state institutions and the low level of efficiency and economic situation in general at this time not in favor of lifting of the zeroes.

He pointed to what he said that he bumps will change the currency and delete zeros, including the risk of fraud and increase the demand for goods causes a fake result for the payment of dinars instead of a thousand dinars, as now, explaining that the re-printed a new currency will have the costs of expensive, adding that attempts will be made to persuade the Bank Central to wait in his plans in this regard.

Previously, the head of the Iraqi Securities Commission confirmed that, earlier, to delete the zeros of the Iraqi currency will not affect circulation in the Iraqi Stock Exchange and its shares

The director of a money transfer companies abroad Sami Rashid: I think that the lifting of the zeroes from the currency will increase confidence in the currency, and will lead to increased purchasing power of citizens, and will drop the phenomenon of trading blocs, the large cash used by the Iraqis since the nineties.

He believed economic analyst Talal Jassim said switch the Iraqi currency a necessary but pointed to the need to provide the conditions necessary for its implementation, particularly the security and political stability, adding that the relative stability of the Iraqi currency after the issuance of currency recently, and the result of the return link Iraq to the global economy and the availability of reserves of foreign currency due to oil exports , encouraged the central bank to consider the deletion of zeros.

Jassim added that lifting the three zeroes will lead to an exchange rate of one dollar per dinar where Jassim called to the need to follow the policies of quiet to convince the citizens and getting used to it for a period not exceeding two years.