Central Bank: deleting zeros from the currency of Iraq had nothing to do with the price or exchange rate
Sunday, June 26, 2011 10: 43
Deputy Central Bank Governor Ahmad abrihi, "deleting zeros from the currency of Iraq had nothing to do with the price and exchange rate."
Abrihi said in a statement all Iraq [where] said Sunday: "some imagine that State want to influence the price or exchange rate (lowered or raised) by deleting the zeroes is invalid".
"Delete zeros had nothing to do with the price and exchange rate and add more categories to delete zeros do currency."
"It is not expected that skimming State to false awareness on economic life and promote illusions disrupt ".
It should be noted that "the plan to delete three zeros from the currency of Iraq is one of the proposed projects. Economists assert that this project will facilitate the cash transactions, because monetization in Iraq complicated; because of the varying currency difference between Iraqi dinars and United States dollar cash transactions may arrive to altrlionat it requires complex calculations to determine the outcome of those transactions in the profit and loss.
The Central Bank of Iraq had decided to restructure the domestic currency to develop payments system in the country, and begin implementing the long-term strategic project, specialize in the restructuring of the local currency of the payment system development.
The "IMF demands Iraq a number of economic measures, including privatizing banks and raise three zeros from the local currency debt and reparations which redirected rests with Iraq, if Iraq's desire to receive the support of the International Fund."Ended 23
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