Wow ~ CBI and Iraqi Dinar ~ A CBI official reveals a growth in the cash reserves of the Iraqi currency to about 60B USD ~Supports Currency's Stability
21/11/2011Parliamentary: Delete the zeros of the three does not lead to the strengthening of the dinar
BAGHDAD - Al Sabah
Continue the implications of the subject to delete the zeros and its impacts on the field of the local economy, which continues towards the study of this step accurately in this field, and the mechanisms used in the process of replacement of this block large cash distributed in Alosouk local, in time, we find that economic experts and interested parties differed on the results of this step, as described by some as a step going towards raising the value of Iraqi dinar, as were the views of the opposite direction.
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In this regard, said a member of the Finance Committee in Parliament Najiba Najib said the project to delete the zeros of the currency does not lead to the strengthening of the Iraqi dinar against foreign currencies, confirming it is a mere formality for the restructuring of the currency.
Najib said in a statement to (news): that the draft deleted three zeros from the Iraqi currency is not working to increase the value of the Iraqi dinar against foreign currencies, but is a matter of formality for the restructuring of the currency and reduce the money supply.
She the project to delete the zeros of the Iraqi currency will make it easier for banks, banks, merchants and owners of large sums of money transfer money from one place to another, contrary to what is it now the currency of the current that they are replaced in a foreign currency.
She pointed out that the objective of this project is to restructure the currency and make it the most heavily traded investors and Iraqi banks and stay away from trading in foreign currency, as it reduces the bloc's monetary currency, and continued on to say:
This project presented a proposal by the Central Bank of Iraq had not seen the Iraqi parliament to the details in full, whether occurring meeting just between the Department of the Central Bank and Financial Committee Deputies, They stressed that they intend to implement this project.
And called a member of the Knesset Finance not to rush the implementation of such a large project time period is a few, but must be studied in detail to find out the negative aspects and positive, stressing the need to spread awareness to the citizens through the media how to switch currency and use.
The Deputy Governor of the Central Bank of the appearance of Mohammed Saleh, said earlier: The draft deleted three zeros from the currency is based has not been affected by any criticism it faces, noting that a national project must be implemented, he said, «that many of the countries of the world has passed this experience and has successfully applied and exceeded all the conflicts and the decline in economic reality to them », pointing out that the project will be deeply studied more and show understanding and explained to the public and it is not legitimate real-time, but long-term needs a long time to apply, likely that will be applied after more than years from now.
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