Iraqi Central Bank confirms its intention to delete the three zeroes from the currency

أكداس من العملة على شباك في بنك عراقي.Stockpiles of the coin at the box in an Iraqi bank.

22.07.2010

The Central Bank of Iraq that he was serious in the application of deleting three zeros from the national currency in the near future. Bank adviser said the appearance of Mohammed Saleh, said that it depends at the present time the formation of the next Iraqi government and parliament two new Siokman on them, which will be determining the mechanism whereby the application of the project to delete the zeroes of the Iraqi currency.

The question being debated extensively about the success of this step in improving the Iraqi economy, says Chancellor valid in an interview with Radio Free Iraq that the deletion of zeros will contribute to reduce the size of inflation and reduce the size of the money supply in the Iraqi market of 26 trillion dinars to approximately 25 billion dinars, indicating that the Kurdish language to be added to the new currency as well as Arabic and English.

The consultant said that for the large number of money circulating in the Iraqi market has led to a confusion in large commercial transactions, the work of banks, noting that deleting three zeros from the Iraqi dinar will to reform the management system of the national currency and thus improve and revitalize the Iraqi economy.

However, the economic expert, Salim al-Jubouri varies with the central bank adviser believes that the deletion of zeros from the Iraqi currency will not necessarily lead to improved national economy, but on the contrary may cause additional confusion in the local market, calling at the same time the Iraqi government to go to support market stability and the national currency rather than replaced with a new value and other currency.

Source – iraqhurr.org

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