15 September, 2010
The Central Bank intends to delete the zeros of the national currency after the formation of the government directly
He said Advisor to the Governor the Central Bank of the appearance of Mohammed Saleh told a news briefing that the zeros have been added for the currency during the past period, formed a cluster of large cash amounting to more than four trillion paper cash, financial value amounted to 27 trillion dinars, up from 25 billion dinars in 1980, " He pointed out that Iraq is not capable of managing the bloc because it is a small country, as many money circulating in the local market led to a confusion in business dealings in the work of large banks.
Saleh explained that the Bank has fully prepared to delete the zeros from the dinar, as soon as the government formation, indicating that the deletion of zeros, a national issue, you may need to special legislation, although the central bank is reform the system of currency management from the core of his work, and that deletion of zeros is one of the functions of Strategic of the bank.
Saleh pointed out that the bank was able during the past period to reduce the level of inflation to the level of one decimal place, after more than twenty years, adding that Iraq was the first time managed to reduce inflation to 3 percent, reflecting the success of monetary policy.
VinTV
