September 3, 2011
Bank excludes revaluation by deleting three zeros
Baghdad, The director of the Association of private banks Abdul Aziz Hassoun that the project to delete the three zeroes from the Iraqi currency is simply a modification of the categories of cash and is not intended to raise the Iraqi dinar exchange rate against the dollar or other currencies, pointing out that the strengthening of the currency comes through security and stability and increasing domestic production in the country.
He said Hassoun, a reporter for the Agency (news) on Saturday: the project to delete the three zeroes from the Iraqi currency intended to modify the denominations do not is not to raise the price of the Iraqi dinar exchange and support, and continued as long as there is no local production real and security stability in the country it is difficult to raise the exchange rate of the dinar.
He Hassoun expressed concern that accompanies the project to delete the zeros of some negative aspects such as what happened in the year (2004), likely to affect the project on prices in the market, stressing at the same time that its impact will be in my time on consumer until the stability in the circulation.
The director of the Association of private banks: There was a proposal could be altered some of the large groups of the coin instead of the currency completely, but there are different points of view other that there is significant inflation in the amount of currency in circulation and are aiming to reduce to the extent reasonably possible, calling that there is a production of a nationalist and a true to be the Iraqi dinar as an international currency are treated abroad.
The Central Bank of Iraq has confirmed that the new currency will be printed in three languages Arabic, Kurdish, English application as indicated by the Iraqi constitution, noting that the old currency will be indispensable gradually.
The central bank adviser appearance of Mohammed Saleh said earlier (the news): The new currency will work in three languages: Arabic, Kurdish and English, the real opportunity to apply what was referring to the Iraqi constitution, stressing that the aunt of old has not been canceled but will be dispensed gradually and work together with the new currency.
Saleh pointed out there is that difference and difference of rights at the exchange rate and the purchase, noting that when we want to buy the rotor b (1200) dinars, we will buy Bdenaro (200) fils.
He added that the project to delete the zeros approved by the of the Central Bank has been forwarded to the Council of Ministers and MPs, explaining if the government approval will be worked by hand.
The central bank adviser that the purpose of the project to delete the zeros of the three is to reduce the large numbers that we are exposed by Bataamlat, which will reach trillions, and shorten the blocks of cash without disparage and wealth or income, they are all be fixed.
and that the project will be working gradually, and differs from the previous project, which began at the end of the year (2003) and continuing until the end (2004), probable that this project will take Nada time broader and continues to years and thus note The old currency will gradually disappear.
The project to delete the zeros of the three is the restructuring of the Iraqi currency and start running a new currency is the replacement of categories (250.500) JD currencies metal to facilitate a lot of things.
End / 8. n. r /.
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