Iraq Central Bank: We are working to reduce the mass of cash through the deletion of zeros ...

Wednesday 17/11/2011

Central Bank: We are working to reduce the mass of cash through the deletion of zeros

Central Bank to reduce the mass of cash from 25 trillion dinars to 15 billion dinars over the deletion of zeros to facilitate cash transactions in the financial markets and banks.

The deputy governor of Bank of the appearance of favor, according to (Rn) that "Iraq today is dealing lump cash of $25 trillion Iraqi dinars, while the The biggest currency which does not exceed 25 thousand Iraqi dinars, and the purchasing power it does not exceed $ 23."

Saleh added: that the cash transactions in the market you need a large amount of bank notes, pointing to the existence of difficulty in the transfer of funds in the form of bags in the event of trading large."

Saleh pointed out that "banks do not accept deposits, sometimes due to problems in number and the account for such large amounts of funds, noting that "the central bank fixes the payments system in Iraq and the policy of the monetary authority."

He said he will reduce the mass of cash soon, through the issuance of new currency canceled by three zeroes. "

He noted that this procedure is an important part of the reform process currency management and will facilitate the payments system and the elimination of the vestiges of inflation, the former by treating the mass of a strong monetary and easy. "

To the index of the Iraqi market for securities new low in yesterday's session up 0.33 percent at 124.16 points.

The bulletin said the market was during the session trading of shares of 38 companies contribute out of 85 companies listed electronically, the price of shares of 7 companies, and prices fell, including shares of 26 companies, while preserving 5companies on the prices of shares. Shown and the number of shares traded at today's meeting 32 million shares of € 66 million have been achieved through the implementation of 600 contract traded.

The bulletin added banking sector witnessed trading of shares of 12 companies, the price of shares of 6 companies, and shares of 6 companies, and the number of shares traded with 32 million shares worth more than 66 million dinars have been achieved through the implementation of 302 (contract traded).

She saw the industrial sector, shares of 9 companies, prices of shares of 5 companies, and shares of one company, while preserving the 3 companies on the prices of shares and the number of shares Volume of industrial companies with 123 million shares worth more than 157 million dinars have been achieved through the implementation of 164 contract traded.

She noted that the trading of shares of 5 companies in the hotel sector shares fell all, and the number of shares traded for the hotel industry two million shares worth more than KD 43 million realized from the through the implementation of 22 contract traded.

The bulletin: During the service sector trading of shares of 6 companies, shares fell all, and the number of shares traded 55 million shares worth more than 207 million dinars have been achieved through the implementation of 99 contract traded.

Was carried out 17 contract for the purchase of non-Iraqi investors in the banking sector, with the implementation of 34 was a contract of sale in the sectors of banking, industry, and hotels.

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