December 4, 2010
Experts: the deletion of zeros from the Iraqi currency strategy needs to be a private cash ...
Baghdad (news) .. is the question of the deletion of zeros from the Iraqi currency of the important issues of concern to the citizen and the economists at the same time and this was useful for the Parliament to invite the Central Bank Governor Sinan al-Shabibi come to the House of Representatives in its day to discuss this subject,
The members of parliament discussed with the Governor a number of economic aspects of interest to public affairs, including (to delete the zeros) of the Iraqi currency.
The subject of the deletion of zeros from the Iraqi currency and small nominal value while maintaining Bakimiteha cash and purchasing of issues that are discussed in many seminars, as addressed by the statements and press reports, in this context, says adviser to the CBI the appearance of Mohammed Saleh, said that this year will see the start of the process of deleting the zeros , stressing that the bank has completed 50% of the preparations that are working on since 2005.
Saleh pointed out that the strategy based on the principle of gradual substitution of the Iraqi currency with another is lower than three zeros, and pointed out that the positives of this strategy is that it will be less expensive and easier to trade.
He added that the deletion of zeros from the Iraqi currency will depend on monetary policy, long-term, indicating that this step requires the issuance of legislation and laws before the foot as part of the strategic management of the currency in Iraq.
The appearance of Mohammed Saleh, said that the need to delete the zeros come from the "mass Iraqi monetary, which has become too large a product of the stage of inflation lasted about 30 years rose from 25 billion to $ 21 trillion, "adding that" the largest category of cash is 25 thousand dinars, equivalent to $23, while the largest category during the year 1979 and the period that preceded the Iran-Iraq war 25 dinars, equivalent to $75 at the time, "Today," the largest Iraqi faction of 25 thousand dinars Atadl only $ 23 with the smallest currency we have is 250 dinars, "and will allow the delete operation" reduce the size of the cluster of cash currency, ie, that the paper of a thousand dinars, turn to one dinar, This means reducing the 21 trillion dinars to 15 billion with coins, metal, and small groups.
"Saleh pointed out that the strategy, which purports to Central taken" in line with the Constitution and the economic life of good and facilitate internal transaction, "noting that" part of the margin of the inflation rate of between 1-3 % falls to the large number of cash representing the cost of transactions in the case of the deletion would decrease the cost. "and on the continuing high prices despite the official figures, which refers to the low rate of inflation Saleh explained that" monetary policy is not interested to return prices to square one, but aimed at reducing the rates of increase in prices which were up 32% in 2007, and today dropped those increases to the level of one decimal place around 7% only, "saying the number" a victory for the economic program of Iraq, where there are no important central Iraqi only achieve stability in the general level of prices and stability of the system Financial. adding that the bank would issue treasury transfers of $3 trillion dinars during the next few days, to cover the contracts of electricity through the legal cash reserve held by banks for the benefit of
From his part, sees Dr. Hilal Al-Tahan, that the application of such a strategy will not cause economic turmoil, or damage in the local market at the present time, while the economic analyst is willing to find satisfaction Blibl that the timing of the launch of this strategy is not appropriate now, noting that the country's economy must be in a position of strength before applying those changes.
Vimabin academic and an economist at the University of Karbala, said that the process of deleting three zeros from the Iraqi currency will lead to currency appreciation, pointing out the need for a quiet policy to persuade the citizens and get used to it for a period not exceeding two years.
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Experts: the deletion of zeros from the Iraqi currency strategy needs to be a private cash ...
Baghdad (news) .. is the question of the deletion of zeros from the Iraqi currency of the important issues of concern to the citizen and the economists at the same time and this was useful for the Parliament to invite the Central Bank Governor Sinan al-Shabibi come to the House of Representatives in its day to discuss this subject,
The members of parliament discussed with the Governor a number of economic aspects of interest to public affairs, including (to delete the zeros) of the Iraqi currency.
The subject of the deletion of zeros from the Iraqi currency and small nominal value while maintaining Bakimiteha cash and purchasing of issues that are discussed in many seminars, as addressed by the statements and press reports, in this context, says adviser to the CBI the appearance of Mohammed Saleh, said that this year will see the start of the process of deleting the zeros , stressing that the bank has completed 50% of the preparations that are working on since 2005.
Saleh pointed out that the strategy based on the principle of gradual substitution of the Iraqi currency with another is lower than three zeros, and pointed out that the positives of this strategy is that it will be less expensive and easier to trade.
He added that the deletion of zeros from the Iraqi currency will depend on monetary policy, long-term, indicating that this step requires the issuance of legislation and laws before the foot as part of the strategic management of the currency in Iraq.
The appearance of Mohammed Saleh, said that the need to delete the zeros come from the "mass Iraqi monetary, which has become too large a product of the stage of inflation lasted about 30 years rose from 25 billion to $ 21 trillion, "adding that" the largest category of cash is 25 thousand dinars, equivalent to $23, while the largest category during the year 1979 and the period that preceded the Iran-Iraq war 25 dinars, equivalent to $75 at the time, "Today," the largest Iraqi faction of 25 thousand dinars Atadl only $ 23 with the smallest currency we have is 250 dinars, "and will allow the delete operation" reduce the size of the cluster of cash currency, ie, that the paper of a thousand dinars, turn to one dinar, This means reducing the 21 trillion dinars to 15 billion with coins, metal, and small groups.
"Saleh pointed out that the strategy, which purports to Central taken" in line with the Constitution and the economic life of good and facilitate internal transaction, "noting that" part of the margin of the inflation rate of between 1-3 % falls to the large number of cash representing the cost of transactions in the case of the deletion would decrease the cost. "and on the continuing high prices despite the official figures, which refers to the low rate of inflation Saleh explained that" monetary policy is not interested to return prices to square one, but aimed at reducing the rates of increase in prices which were up 32% in 2007, and today dropped those increases to the level of one decimal place around 7% only, "saying the number" a victory for the economic program of Iraq, where there are no important central Iraqi only achieve stability in the general level of prices and stability of the system Financial. adding that the bank would issue treasury transfers of $3 trillion dinars during the next few days, to cover the contracts of electricity through the legal cash reserve held by banks for the benefit of
From his part, sees Dr. Hilal Al-Tahan, that the application of such a strategy will not cause economic turmoil, or damage in the local market at the present time, while the economic analyst is willing to find satisfaction Blibl that the timing of the launch of this strategy is not appropriate now, noting that the country's economy must be in a position of strength before applying those changes.
Vimabin academic and an economist at the University of Karbala, said that the process of deleting three zeros from the Iraqi currency will lead to currency appreciation, pointing out the need for a quiet policy to persuade the citizens and get used to it for a period not exceeding two years.
http://translate.google.com/translate?hl=en&sl=ar&u=http://www.ikhnews.com/news.php%3Faction%3Dview%26id%3D5108&prev=/search%3Fq%3Dnahrain%26hl%3Den%26client%3Dfirefox-a%26hs%3Dbh9%26rls%3Dorg.mozilla:en-US:official&rurl=translate.google.com&twu=1
