September 20, 2010
Delete 3 zeros from the Iraqi dinar «encourage» to be applied instead of the dollar
The announcement by the Central Bank of Iraq 's intention to delete the three zeroes of the dinar, the reactions and the wide economic community
And financial, as the consequences of this step on the markets, especially that the zeros added to the currency a few years ago inflated the money supply.
He said the Executive Director for the «Bank of guidance» Abdul Aziz Hassoun's «life, step task, referring to the« they need to be carefully studied in order to avoid chaos and confusion in the market, if it does not possess the qualifications and capabilities required to implement the resolution, which aims to get rid of the cluster paper huge client, and that led to problems in the trading and banking ».
The Dean of the Faculty of Management and Economics at the University of Karbala governor Mohsen that the Iraqi currency is now a «mass of paper», considering that «a problem in itself stands in the way of developing the national economy».
Delete 3 zeros from the Iraqi dinar «encourage» to be applied instead of the dollar
The announcement by the Central Bank of Iraq 's intention to delete the three zeroes of the dinar, the reactions and the wide economic community
And financial, as the consequences of this step on the markets, especially that the zeros added to the currency a few years ago inflated the money supply.
He said the Executive Director for the «Bank of guidance» Abdul Aziz Hassoun's «life, step task, referring to the« they need to be carefully studied in order to avoid chaos and confusion in the market, if it does not possess the qualifications and capabilities required to implement the resolution, which aims to get rid of the cluster paper huge client, and that led to problems in the trading and banking ».
The Dean of the Faculty of Management and Economics at the University of Karbala governor Mohsen that the Iraqi currency is now a «mass of paper», considering that «a problem in itself stands in the way of developing the national economy».
He pointed out that the first step in this direction «of issuing two types of paper currency, one million dinars and the second thousand dinars to grow the confidence of the citizens and enable it to deal with the new currency was immediately».
He added that the application of step «would not take more than a year or two», because the deletion of zeros «will in the future to carry the citizen small amounts of currency, and increase its value in conjunction with a qualitative shift in the Iraqi economy, through optimum utilization of agricultural resources, industrial, transportation, services, storage, and development actor of the national staff, through a policy of balanced economic and financial », pointing out that the deletion of zeros will lead to an increase in KD by traders rather than the dollar», the «mean power-added of the national currency».
The Advisor to the Governor of the Central Bank the appearance of Mohammed Saleh said that «zeros formed a cluster of up to four trillion banknote, worth 27 trillion financial dinars, up from 25 billion dinars in 1980.
He added that the application of step «would not take more than a year or two», because the deletion of zeros «will in the future to carry the citizen small amounts of currency, and increase its value in conjunction with a qualitative shift in the Iraqi economy, through optimum utilization of agricultural resources, industrial, transportation, services, storage, and development actor of the national staff, through a policy of balanced economic and financial », pointing out that the deletion of zeros will lead to an increase in KD by traders rather than the dollar», the «mean power-added of the national currency».
The Advisor to the Governor of the Central Bank the appearance of Mohammed Saleh said that «zeros formed a cluster of up to four trillion banknote, worth 27 trillion financial dinars, up from 25 billion dinars in 1980.
