(Article post at OOMF by Just Da Truth)
Central Bank reveals details of Iraq's new currency
Tuesday, August 30 / August 2011
News twilight / the central bank of Iraq, Tuesday, that the new Iraqi currency will increase by three zeros, indicating that he had conducted an extensive study concluded that the lifting of the zeroes will strengthen the value of the Iraqi currency.
The deputy governor of Central Bank of Iraq in favor of the appearance of Mohammed in an interview with " Twilight News "that" the central bank is determined to raise three zeroes from the currency of the new Iraqi and presented its project to the government and the House of Representatives, is awaiting the government's decision and the Council of Representatives. "
Shows the economists, that the process of deleting three zeros from the Iraqi currency will raise its value, and to increase the purchasing power of citizens, pointing to the need to follow the policies of peaceful citizens and to persuade them to get used for a period not exceeding two years.
And the benefit of that "project raise three zeroes from the currency made by the government five years ago to the Central Bank, and has undergone during this period to an extensive study over the need to raise the value of the zeros to strengthen the Iraqi currency."
He added that "the deletion of zeros to enhance the value of the Iraqi currency and reduce the cost of handling cash, currency, and its current estimated size of today Petrlionat dinars, which makes the process of dealing with critical high cost."
The Central Bank of Iraq began to discuss amending the dinar categories last year. And is still a large part of the payments are in cash because of the evolution of the banking system.
It is said that the President of the Iraqi Securities Commission, had confirmed, earlier, that the deletion of zeros from the Iraqi currency will not affect trading in the Iraqi Stock Exchange and its shares.