walkingstick » May 30th, 2015, 8:02 am
The deletion of zeros from the Iraqi currency restores its monetary value -
Fahd Antar Dokhi *
Posted on 29 مايو 2015 by space Uruk
Was Alojdrb (Bremer) head of the Iraqi destruction authority when it canceled the Iraqi currency of the former regime the end of 2003 to find a coin which reduces the presence of zeros,
The fact that the Iraqi economy, the traditional inflation stages exceeded even arrived to the brink of collapse, and this procedure is one of the means at hand to address the weakness of the value of the Iraqi dinar, according to the monetary and banking law, has to be a return to basic sources which constitutes a strong factor in restoring confidence to our national currency
It is deleted three zeros from Almtadolh currency now put metal and paper dinar parts, including (5, 10, 25, 50, 100, 250 and 500 fils) .. which will bring the following benefits:
1. Ease of circulation and clarity and knowledge of monetary value easily even to foreigners and Hmaaaml Assistant to buy and handle them and trust the other hand, the lifting of monetary value against other currencies ..
2. Altfelicat paper perishable and damage, in contrast, the coin is not affected trade and the use and therefore can be manufactured again.
3. reduces the cost of printing Tabaha.az that JD (25) which will replace the 25 thousand dinars Alnaamhalmtdoualh currency is currently easier and quality will be high ..
4. strengthen the fabric and improved through the addition of the elements of the global currency that is not affected by natural factors such as water, and bear scrubs and tear resistance and decay.
5. reduce the cost of storage in banks, because we need to Qasat less and less effort and also the lower the number of employees by the more control and insurance prohibitively high.
6. easily transported over long distances and easily provide a high proportion of them safely.
7.. Strong cash currency contribute to strengthening the elements of the national economy.
8. provides speed and accuracy in trading in settling accounts.
9. gives the workers, giving them greater self-confidence.
10. is the risk of error in the calculation of its simplicity and clarity.
11. This will rebuild global confidence by banks and increases traded.
12. also provides cash to expand its value against the US dollar, the euro and the EU.
13. The printed specifications make them immune to fraud.
There are a lot of countries that embarked on this procedure, including the Turkey even scrapped term million to replace the thousand, and can develop a mechanism to withdraw the old currency by subtracting the new currency with them and set a time ceiling to suspend trading Balkadimh record for a period of Omayorasth months, in light of that holds the government banks did not place them again in the Dealing even decay within the period specified ..
* Fahd Antar Dokhi member Iraqi Economists Association
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